Professional services and consulting are both about providing expertise to a client. Many types of consultants are considered to be in the professional services industry, such as marketing consultants and IT consultants. Consulting is a bit more difficult to define, as it has a wider range. At its core, consulting is the provision of expertise or strategic advice that is presented for consideration and decision making.
It is usually done on a project basis, with the consultant helping the client make informed business decisions using their IT and technology expertise. Professional services, on the other hand, refer to various types of specialized assistance provided to a company from external sources. This can include accounting, auditing, taxation, financial advice and risk management. The scope of the work for an engagement is how you can determine if the purchase is included in one or the other.
If it involves thinking and is strategic or tactical in nature, it is likely consulting. If it is a service that does not involve thinking, such as real estate agents, headhunters or trainers, it is likely professional services. Prior to the commencement of services, the department requester is responsible for determining whether the service being purchased is a consulting service or not a consulting service. If it is a consulting service, the applicant will follow a competitive procurement process to award the contract, regardless of the dollar value.
Non-competitive contracting of consulting services is only allowed in certain circumstances described in applicable commercial agreements. When it comes to interacting with a technology provider for professional services, it's important to understand the key elements of the offering and how they will benefit your business. Professional services firms are also worth checking out if you want to work in technology, be an expert in commercial law, or specialize in economic or political analysis. The daily business of a professional services company is analyzing, solving problems and solving problems, so recruiters look for those capable of facing complex challenges and finding solutions for their clients. Consulting is included in professional services and is often provided as a stand-alone service as well as part of a larger package of professional services. In conclusion, consulting services can be perceived as higher value (and more expensive) providers than professional services. It's important to understand the key elements of each offering and how they will benefit your business before engaging with either type of provider.