Trends in the Consulting Business Show Growth and Innovation

Outlook on Consulting

As businesses continue to recover from the challenging market presented in 2008-2009, executives are once again looking to invest in consulting firms, which show a promising return on their investments according to a recent Plunkett research study. However, government contractors continue to feel the effects of tight regulation, pushing them to diversify their offerings to meet an evolving market.

Developments in the Consulting Industry

New developments in health care, such as digital health records, are driving a growing need for consultants who can help develop efficient and cost-effective solutions. In all industries companies are looking for firms which can deliver product solutions “that clearly reduce business costs and enhance operating profits in a reasonably short period of time” (Plunket, 2014). Businesses of all sizes are in need of consultants who can navigate changing regulations, domestically and internationally, and who can help clients expand into growing markets.

Technology and Consulting Firms

Successful consulting companies have also branched into software development to provide efficient digital strategies to businesses. Companies are looking for consulting firms to help manage a wide variety of technology needs such as cloud computing, data security, predictive analysis and mobile apps. In short, businesses are looking to connect their companies with cutting-edge digital services.

Conclusions

These new trends show that consulting firms must be adaptive and innovative in order to succeed in the new market. Consulting firms will need to provide a variety of tailored services in strategy, software development, and project management in order to remain competitive and provide the best service for their clients. Contact Farwell to see how we can provide a comprehensive and flexible consulting solution for your business.

Source: GoFarwell.com