Why do consultants use expert networks?

Consulting firms are among the most popular clients of expert networks. This is due to the fact that today, information and knowledge represent the main competitive edge in the modern economy.

Valuable insights allow businesses to better understand their competitive advantage and growth possibilities and other factors that lead to success.

With this in mind, it should come as no surprise that the demand for expert networks continues to grow.

The expert network industry connects organizations with subject matter experts who possess extensive industry knowledge and thus can offer market insights supported by actual experience working within particular areas thus allowing businesses to make informed decisions.

Choosing the appropriate expert network to engage with is therefore critical in order to obtain accurate information that could be of significant benefit to your organization.

Why do consultants need expert networks?

In a modern economy, companies engage consulting firms to help them to make informed decisions and to solve problems. These consulting businesses undertake their due diligence and then provide recommendations to the organizations that hire them.

A consulting business would require thousands of people who are specialists in a myriad of different areas to be able to help their clients solve any problem at all. Sometimes, they do not have an in-house professional or expert on a particular topic. This is where an expert network could help.

Expert networks such as RightAngle boast an extensive pool of subject matter experts who can help consulting companies source the valuable information they require.

Expert networks help consultants to gather a wide range of perspectives and data points by undertaking due diligence on companies, conducting market evaluations and carrying out research on product launches.

Let’s have a look at a case study highlighting the logic behind using the expert network model

  • A consultancy client working on a due diligence assignment wishes to gain valuable insights concerning the waste recycling market in Europe. The customer is specifically interested in learning about trends, dynamics and the competitive landscape.
  • RightAngle, as an expert network operator, immediately starts to analyze the market and seek experienced professionals from several European countries, namely experts who have previously held senior positions within relevant waste or recycling companies.          
  • RightAngle presents the consulting company with a list of the most suitable subject matter experts and arranges calls with the shortlisted candidates.
  • Finally, the consulting firm holds conversations with several experts selected by RightAngle who are able to provide the client with the valuable information needed to understand the recycling market.

Final word

Without expert networks, the consulting companies would have been obliged to find their own specialists, most likely settling on one single expert. In this scenario, the risks of coming across someone without the appropriate experience are high.

On the other hand, expert networks can significantly boost the due diligence carried out by consulting businesses by offering access to unrivaled knowledge, whether this involves recruiting specialists as part of a project team or helping to find key market players.

Suggested reading:

RightAngle services – thinking beyond the customary approach

Expert Networks evolution: From business card archives to digital libraries

Private equities and consultants are the main users of Expert Networks. Who else?

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