If you look at the latest consulting trends, you’ll find out that the way this industry operates is undergoing serious changes at the moment. However, seems like neither vendors nor their clients have a clear understanding how it’s happening. Many are simply confused about the future of the industry and how it’s most likely going to evolve. Here are the key trends in consulting for 2016 that you need to know.
While many companies still work on a local level, the most progressive ones have moved to another dimension by becoming truly global. Not only has it helped to increase their competitiveness but has also granted an instant access to high-quality human resources and emerging technologies.
- Core business decline
One of the latest consulting trends is that the amount of new services provided by vendors has begun to grow rapidly. While that provides new opportunities for better revenues, the core business, however, is naturally in decline. Such a rapid change in business structure is a big issue for business owners.
- Unclear vendor strategies
The number of clients who are frustrated by the lack of understanding how vendors plan to maintain their businesses, in the long run, is constantly growing. It mainly happens due to the poor communication between the senior management and the customers.
- Little differentiation in consulting offers
Since many global consulting providers strive to offer their clients the widest range of services, they now look like big supermarkets where one can find practically anything. On the one hand, it’s quite convenient for a client; on the other, the choice of a provider might suddenly turn into a serious challenge as the majority of them look very similar.
- Competition in every segment
A growing number of companies that strive to beat their competitors in a specific category is one of the modern consulting trends as well. Nowadays one can easily find providers who focus on a certain service in order to come to the market with the best offer. Those companies that manage to succeed in that have a great chance to rapidly increase their revenue base.
- Small deals prevailing
With only government sector as an exception, the majority of present-day clients tend to be more selective when buying services for their businesses. This means large scale
deal segment has become much thinner as compared to previous decades. Customers’ buying behavior is now much more pragmatic and balanced.
- Speed and flexibility are keys to successSince more than 90% of clients already work with small-to-medium enterprises, the ability to instantly meet clients’ expectations is one of the strong consulting trends nowadays. That’s why smaller startups and companies are in a better position than larger service providers whose reaction to immediate changes is less dynamic.