This Week in Consulting
Friday, July 20th, 2018
Consulting 4.0 – The Future of Management Consulting is Digital
THIS WEEK’S MUST READ
“Professional services firms must go through their own digital transformation before they can truly help their customers. Traditional management consulting partnership models and their silo-practices are unlikely to deliver CIOs the most appropriate solutions for a digital age. CIOs do not need a digital strategy. They need the right support to survive and thrive in a digital economy.”
Management consulting companies mastered the art of selling “digital transformation” projects to their clients, but still struggle to embed digital tools in their internal processes and operating model, starting from very simple ones as video conferences and tele-presence tools. Analyzing the problem from a bigger perspective, we can all agree that digital transformation represents a great opportunity for consulting firms, both externally and internally.
This Week’s Must Read features an insight piece from Forrester, during where the analysts highlighted observations they made during a recent analyst event of one of the leading global professional services firms PWC and used them to explain why professional services firms must go through their own digital transformation before they can truly help their customers.
Read on to Find out More: “Digital Transformation Is Changing The Market For Consulting”, featuring Dan Bieler from Forrester.
THIS WEEK’S VIDEO:
Speaker and consultant Scott Klososky explains that today only organizations who adequately prepare for The New Normal will last –thus the term “Digital Darwinism”. Every industry is heading toward an inflection point, if it hasn’t already occurred
INDUSTRY NEWS & INSIGHTS
- Arcadis and Madaster Join Forces to Create Circular Passports: The circular economy has been suggested as one part of the wider shift towards a sustainable economic model. Arcadis recently announced that it is working with Madaster to create materials ‘passports’ which support the creation of a zero-waste construction sector. | Arcadis Press Release
- TiER1 Acquires Compass Clinical Consulting: TiER1 Performance Solutions has acquired Compass Clinical Consulting, an established healthcare consulting services firm that provides clinical and operations performance improvement; accreditation and regulatory compliance; and interim healthcare leadership. | Global Newswire
- Globe’s Largest FMCG Companies Buying Their Way to Faster Growth: As markets become increasingly volatile amid changing consumer habits and heightened digital competition, many firms now look to acquisitions as a root to spreading risk as well as boosting financial performance in the short term. M&A activity accounted for around 15% of growth in the FMCG sector. | Consultancy UK
- Alvarez & Marsal Adds 22K sf to Footprint at Ruben Companies’ Building: Consulting firm Alvarez & Marsal, the largest tenant at Ruben Companies’ 600 Madison Avenue, expanded its footprint in the Plaza District building to just shy of 150,000 square feet. | The Real Deal
Congratulations to the Consulting Quest Team!
It is with great honor to announce that Consulting Quest has been chosen as a finalist for the Best Procurement Consultancy Project Award for the World Procurement Awards 2018! Do not forget to check out our nominated case study.
- Ripe for Disruption: The Business Model of Big Consulting Is Overdue for Change: We live in an era of continuous disruption and growing options in all parts of the market, from high to middle to low. A consulting industry traditionally dominated by global giants with brand names like PWC and McKinsey, which generated some $250 billion, is now ripe for disruption too. | Nadim Yacteen, Catalant
- Digital Transformation in the Consulting Industry : In consulting we’re starting to see that many firms have bought into the idea that they should change. Yet many are not yet making substantive changes, including changes that would reflect in company culture. | Kathryn Falconi, 9Lenses
- Killing Strategy: The Disruption Of Management Consulting: Since Clayton Christensen first used the words “disruptive innovation” in 1995, nimble start, ups have challenged incumbents in every field. Oddly, management consulting is rarely named in discussions about industries vulnerable to disruption (unless you ask Christensen), despite the fact that it meets all of the qualifications. | CBI Insights
- Digital Transformation Initiative: Professional Services Industry: It has been predicted that cognitive AI could replace 30% of consulting resources. However, consulting spans a broad spectrum, with levels of disruption varying in different areas. Technology and media consulting appears to be experiencing disruption more than other areas, while hgher-end services involving highly customized solutions are expected to be less disrupted than those based on more repetitive analysis. | Trevor Gruzin, Anand Shah, Arushi Chopra, Accenture
Consulting Quest will be hosting a free Webniar for industry leaders in the coming months exploring best practices in Consulting Procurement. If you are interested in participating, please fill out this survey.
Check Out Other Upcoming Events and Workshops & Become a Part of the Consulting Quest Community!
- How to Become a Small-Business Consultant: You’ve mastered the art of the small business — and now, you’re ready to take your career one step further. Serving as a consultant to those who hope to follow in your footsteps is a viable option, but it’s one that might be difficult to navigate at first. | Sarah Landrum, Levo
- A Successful Consulting Proposal Starts with a Great Pitch: The truth is that your proposal will not be read thoroughly most of the time. Having your team verbally pitch its proposal is an incredibly powerful and effective way to convey your ideas to your audience. | Helene Laffitte, Consulting Quest
- How To Become A Consultant In 10 Proven Steps (2018 Edition): How do you really become a consultant? In this guide, you will find everything you need to ditch the corporate system and become a successful consultant. | Consulting.com
- Only 1 in 250 Graduates Lands a Job in Strategy Consulting Industry: On average, only one in 250 graduates becomes a strategy consultant. This is mainly because the large strategic advisory firms place high demands on potential new professionals and each year there are only a limited number of places at firms set aside for academic talent. | Consultancy.eu
- Are you a Consultant with Supply Chain background or prior experience working in Retail/CPG? This may be the opportunity you have been long for. A Client of Consulting Quest – an Asia-based small Global Consulting Firm – is seeking to hire an Engagement Manager to join their newly established office in New York City. Learn More
Consulting Quest is a global, performance-driven consulting platform founded in 2014 by former members of top 10 consulting firms with the objective of reinventing consultancy performance. With a worldwide presence and a range of proprietary performance measurement tools, we help companies navigate the consulting maze. We work with Consulting Clients to increase their performance through consulting and Consulting Providers to help them acquire new clients and to improve their performance.
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Hélène Laffitte is the CEO of Consulting Quest, a Global Performance-Driven Consulting Platform and author of “Smart Consulting Sourcing”, a step by step guide to getting the best ROI from your consulting. With a blend of experience in Procurement and Consulting, Hélène is passionate about helping Companies create more value through Consulting.