Over the past few years, I’ve been fortunate to work with and alongside many talented interim Supplier Relationship Management (SRM) consultants.

Whether they’re parachuted into a complex transformation, helping a team build capability, or filling a temporary leadership gap, one thing that always comes up is money. What do you pay for an SRM interim? And how do you structure the commercial agreement in a way that’s fair, flexible and fit for purpose?

Let’s explore the typical rates and the different ways to work with interim SRM professionals.

What to Expect: Rate for an Interim SRM Consultant

In the UK, the day rate for an interim SRM consultant can vary quite widely depending on a few factors: the level of seniority, whether it’s a strategic or delivery-focused role, the duration of the engagement, and whether the consultant is working independently or through an agency.

Here’s a general guide based on what I’ve seen in the market:

• Mid-level SRM consultants (typically supporting or delivering SRM programmes):£500 to £700 per day

• Senior SRM specialists or programme leads (strategic roles, driving capability or governance):£700 to £950 per day

• Interim heads of SRM or transformation leaders (organisational change, cross-business scope):£950 to £1,200+ per day

  
  

Some niche or high-stakes roles may command even more, particularly where the brief includes supply chain resilience, digital SRM or regulatory exposure. If the work is short term or requires intense delivery over a condensed timeframe, you may also pay a premium.

One thing to remember is that interim consultants come self-contained. There’s no employer National Insurance, no pension contributions, no holiday pay. That’s all factored into their day rate.

Commercial Models: Choosing What Works

There’s more than one way to engage an interim consultant. Each model has its strengths and limitations. I’ve worked with all of them at one time or another, and the best fit often depends on the nature of the work and how well-defined the outcomes are.

Here are the most common models:

1. Day Rate Contract (Time and Materials)

What it is: You agree a daily fee and pay for time worked, often with a set number of days per week. Invoices are usually issued monthly, based on days logged.

Pros:

• Simple and flexible

• Easy to scale up or down

• Suitable for open-ended or evolving projects

Cons:

• Can become expensive if scope creeps

• No direct link between cost and deliverables

My take: This is the most common model. It works well when you trust the consultant to focus on outcomes, not just hours.

2. Fixed Fee (Project-Based)

What it is: You agree a fixed sum for a defined piece of work, usually with clear outputs, timelines and payment milestones.

Pros:

• Predictable cost

• Good for clearly scoped deliverables

• Shared incentive to complete on time

Cons:

• Requires a well-defined brief

• Less flexibility once agreed

• Can lead to rushed delivery if poorly planned

My take: I’ve used this model for things like SRM playbook development or maturity assessments. It’s great when the work has a start, middle and end.

3. Retainer Model

What it is: You pay a fixed monthly fee to retain access to the consultant for a set number of days or hours each month.

Pros:

• Provides ongoing support

• Budgetable over time

• Encourages longer-term thinking

Cons:

• May feel underutilised in quieter months

• Can be tricky to measure value unless you track outputs

My take: This model works well when the consultant is providing coaching, quality assurance or strategic input over a longer period. I’ve seen it work beautifully in large organisations that are building SRM capability in phases.

4. Outcome-Based Payment

What it is: Payment is tied to specific results or benefits being delivered, such as achieving supplier performance improvements or embedding new governance.

Pros:

• Strong performance focus

• Good for transformation or turnarounds

• Aligns consultant’s incentives with the organisation’s

Cons:

• Can be hard to measure or attribute success

• Risk of disputes over what counts as ‘done’

My take: I’ve rarely seen this model used in SRM but when it works, it works well. It demands trust, clarity and a shared definition of success. Not for the faint-hearted.

5. Blended Models

Some clients combine models. For example, they might pay a lower day rate with a completion bonus. Or use a retainer for strategic input, with a fixed fee for discrete deliverables. It all depends on the relationship, the nature of the work and the internal appetite for risk and flexibility.

Final Thoughts

Choosing the right commercial model for an interim SRM consultant is about more than cost. It’s about how you want to work together, how mature your SRM ambitions are, and how quickly you need to move. Be clear on the outcomes you want, but also be realistic. Interim consultants thrive when given the space to solve problems, not just tick boxes.

If you’re unsure where to start, have a conversation.

Most experienced SRM consultants will be open about what works best for the type of challenge you’re trying to solve. And that’s often where the value begins.

If you're an SRM leader who’s used different models or rates and want to share your experience, drop me a line. I'd love to hear what’s worked for you.