Five major challenges facing the consulting industry web

5 Major Challenges Faced by the Consulting Industry

An industry report from Deltek identifies five key challenges that the global consultancy industry faces at a time of increasingly digitalised business. The ‘Insight to Action – The Future of the Professional Services Industry’ reports highlights issues around changing client behaviour, providing more value at the same cost, new sector entrants using technology that enables them to do more with less, increasing project complexity as technologies such as mobile enable clients to gain better insight into their projects and therefore demand more control, and cybersecurity concerns arising from the vast amount of confidential client data handled by consulting firms. Fergus Gilmore, Vice President Sales and Managing Director UK and Central Europe at Deltek, said: “Consulting firms must focus on three key ingredients in order to gain a clear view of the risks and opportunities ahead: pipeline, projects, and people. That means knowing what kind of projects they are going to bring into the business, and when; how much it will cost to deliver those projects; and whether they have the right skills for the job. The role of technology is vital to for consultancies to get a handle on this information, and more importantly, be able to use it to inform their decision-making.”

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