The Consulting trade, over the previous few many years, has been on the forefront of serving to companies navigate their key Enterprise Transformation initiatives. The trade has usually helped shoppers navigate these transformations via an optimum mixture of proprietary frameworks, IP, instruments, and a workforce of consultants educated with in-house consulting methodologies.
Nonetheless, the accelerated development of Subsequent-gen applied sciences in the previous few years and elevated adoption of the identical by shoppers for group enchancment initiatives has rendered various hitherto conventional consulting providers redundant such that the trade finds itself now within the throes of disruption and must reinvent and rework to remain related!
Given the above context, we spotlight the highest 5 developments that we expect will form the Consulting trade over the subsequent decade and which the trade will likely be greatest served to concentrate to
- Execution over Technique – Whereas Technique will proceed to be essential, shoppers will more and more give priority to consulting companies who can stroll the speak and take technique via to execution and ship on the outcomes for the charges they cost.
For instance, the basic technique’s share of labor has been steadily reducing and is now about 20%, down from 60% to 70% some 30 years in the past, based on Kennedy Consulting Analysis & Advisory. Technique consultancy companies have acknowledged this menace and have made various strikes towards the execution elements via acquisitions, partnerships, or constructing digital platforms.
- Know-how will likely be on the core of any Consulting – Know-how will likely be on the core of virtually each type of consulting. Enterprise leaders have traditionally at all times delegated know-how and IT enablement to specialists. Consequently, know-how had seldom been part of the C-Suite board room technique discussions. That can not be the case. With new rising applied sciences and enterprise fashions, shoppers will more and more need to know the ‘How’ a part of the Technique from all Consulting companies and can anticipate Consulting companies to up their recreation in with the ability to ship the specified enterprise outcomes via the optimum mixture of next-gen applied sciences – automation, AI, huge information, digital and Cloud to ship on outcomes similar to person expertise, worker expertise, productiveness, course of enchancment, agility, and so on.
- Pores and skin within the recreation will change into the norm than a differentiator. Purchasers will anticipate consulting companies to be accountable to the charges being paid and tie part of their charges to the outcomes achieved. Whereas that is presently already being utilized by some companies as a differentiator, this may change into a defacto mannequin of operations sooner or later.
- Finish of the monolith – the rise of ecosystems and modular specialists – Consulting companies will more and more kind partnerships with a broader ecosystem of specialist companions, every of whom brings a novel functionality to the desk during which they excel. As extra specialist boutique companies proceed to emerge, the period of a single monolithic setup with one Consulting group dealing with all elements will likely be a factor of the previous. Purchasers now acknowledge that a number of specialists and boutique companies can ship the specified outcomes at a fraction of the price by leveraging the newest applied sciences. The normal companies must accomplice with these specialist companies whereas proudly owning the general transformation accountability. There are already rising developments of this taking part in out in important Transformations with multi-vendor eventualities
- Work from wherever would be the norm; hybrid – Whereas the pandemic has already accelerated and established the hybrid mannequin of working, this may go one step additional to a ‘work from wherever’ possibility. Purchasers will more and more be much less involved about the place the expertise is situated so long as they get the appropriate expertise on the proper worth. Consequently, location flexibility will change into a key choice influencer for consultants as they select companies. Companies that supply most flexibility would be the ones who will be capable to appeal to the perfect expertise.
As these developments strengthen over the subsequent few years and change into mainstream, Consulting companies will do properly to adapt to those sooner than later to keep away from transitioning from those serving to shoppers navigate their disruptions to those being disrupted themselves.
Ravi Nagarajan is a Associate with Infosys Consulting and is actively engaged with various main shoppers throughout sectors of their Transformation initiatives.
