Consulting as a service came about as far back as the late 19th century when the world’s first modern consultancy firms were founded because the industry had started to move away from simple trading and traditional products to things that called for specialized knowledge in setting up, maintenance and growth.
From the turn of the 20th century, consulting and in particular, those with a focus on engineering and finance found increasing acceptance in the world of business and enterprise. Today, a century down the line, the consulting industry is one of the most mature in the professional services industry that generates revenues anywhere close to USD 250 billion YOY.
Mirroring the global consulting industry is the one in India that too has seen substantial growth (and slumps), not only in terms of size but also in terms of the service offerings. In recent years, the demand for specialist consulting services is being sought in a big way in India. This presents a never-before opportunity for a large number of consultants to help businesses with their expert knowledge base and resources. This is despite the pandemic-induced slowdown.
The other sunrise industry for consultants could be the Fintech and Edutech where things going online wholesale, there’s an obvious dearth of both subject-matter experts and experts in the field of communication, connectivity, and customer experience.
In the normal order, management consultancy includes within its ambit the following:
Management consulting with its ambit of improving organizational structures, planning strategies, and marketing.
Operational & technology consulting that looks into improving operational efficiency and keeping up with technology.
Financial consulting that deals with utilizing capital effectively throughout the entire value chain, cash management, and organic expansion of an entity.
Increasing use of technology to solve ‘in-person’ problems: Continuing from the above, where the right kind of consultant isn’t available, the next option would always be to use technology to hold online meetings. Zoom, Google Meets and the likes shall continue to be favored platforms for meetings with the likes of Zoho and Google Office helping consultant worldwide do business
just as wide.
A complete change of strategic interests at the client’s end: ‘How to grow’ was the question once. Today it has whittled down to ‘How to sustain’ or even ‘How to survive’. Making organizations lean and self-sustaining, remote accesses, remote working, office-less working, on cloud working, remote 3-D printing, etc would be the new areas of consulting that could see substantial changes in such fields as human resource, finance, and asset deployment.
Read More: https://ciolookindia.com/an-overview-of-the-indian-consulting-industry/
Source: https://ciolookindia.com/
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