25+ Consulting KPI Examples

The world of consulting thrives on actionable insights and solutions tailored to unique business challenges. Through consulting KPIs, firms can quantify their impact, ensuring a continuous alignment of delivery with client expectations.

Consulting illustration

Unraveling Consulting KPIs

Consulting KPIs are a testament to a firm's efficacy. They reflect project success rates, client satisfaction levels, and the tangible value delivered, aiding firms in refining their strategies for greater impact.

Why Consulting KPIs are Essential

In the trust-based consulting business, KPIs authenticate a firm's claims. They showcase expertise, commitment, and results, helping clients make informed decisions.

Most Popular Consulting KPIs for 2023

Discover the consulting KPIs that users have upvoted the most. Dive into each one to learn how they're calculated.

Time to Acquire New Clients

The duration it takes from the point the consultancy recognizes the need to acquire a new client (active pursuit) until they successfully secure a new client agreement. In situations where client referrals aren't generating new business, this metric helps gauge the efficiency of the consultancy's proactive business development efforts. Shorter durations can mean effective outreach, networking, and pitch strategies, ensuring better consultant utilization and stable revenues.

Formula

Date of securing new client agreement - Date of decision to actively pursue new clients

Example

If a consultancy recognized the need to actively pursue new clients on April 1st and secured a new client agreement on April 25th, the Time to Acquire New Clients is 24 days.

Consultant Utilization Rate %

The percentage of a consultant's working hours that are billable. It provides insights into how efficiently consultant hours are being utilized towards revenue-generating tasks.

Formula

(Billable Hours / Total Available Working Hours) x 100

Example

If a consultant has 40 available hours in a week and bills 32 hours, the utilization rate is 80%.

Average Hourly Fee 💰

The mean amount charged to clients per consultant hour. Provides insights into the pricing structure and competitive positioning.

Formula

Total Revenue from Hourly Projects / Total Hours Billed

Example

If a consultant bills 100 hours at a total of $10,000, the Average Hourly Fee would be $100.

On-Time Delivery Rate %

The percentage of projects delivered by their deadline. Timely delivery can boost client satisfaction and trust.

Formula

(Projects Delivered On Time / Total Projects) x 100

Example

If 45 out of 50 projects were delivered on time, the on-time delivery rate is 90%

Client Concentration Risk %

Measures the dependency of the consultancy on its largest clients. It provides a view of how much of the firm's revenue is generated by a small number of top clients. High client concentration can pose a significant risk. If a major client decides to leave or faces financial troubles, it could have a substantial negative impact on the consultancy's revenue.

Formula

(Total revenue from top 'X' clients / Total revenue) * 100

Example

If a consultancy's top 3 clients generate $500,000 out of a total revenue of $1 million, the Client Concentration Risk is 50%.

Comprehensive List of Consulting KPIs

Below is an extensive list of consulting KPIs, each accompanied by a brief summary. Click on any KPI to delve into its detailed description, including the formula and examples.

Budget & Revenue

Business Development

Client Risk Management

Client Satisfaction & Feedback

Knowledge & Talent Management

Operational Efficiency

Service Delivery

In Summary

In an age dominated by data, wading through a myriad of numbers can appear intimidating. However, with the appropriate KPIs at hand, consultancies can find clarity, guiding their path with decisions that bolster growth and ensure longevity. As 2023 progresses, envision these KPIs as the luminous beacons for your venture, revealing promising avenues and averting potential obstacles.

Looking to delve into other areas of your business? Check out our extensive range of different categories where you will find KPIs and let data drive your success.