Consulting Industry

– An overview
What is Consulting : Consulting 101
Definition from Oxford In Business parlance In terms of Job
Dictionary : Description
Corporate
Strategy
Mergers &
Strategy
Acquisitions Define the Problem
Functional
Strategy

Planning Collect and Analyse

Data
Management

Business Advisory
Organizing
Functions

Staffing Recommend a Course

of Action
Procure to Pay

Operational Reach agreement

Order to Cash
Processes with the Client
Hire to Retire

IT Help Implement
Infrastructure recommendations (if
required)
Consultants are hired to help the clients resolve a ERP
Technology
business dilemma, for which specialised knowledge Implementation
is needed – assumed to be lacking on the client’s end.
Security
 Evolution of consulting – A brief History of Consulting till now
2nd Industrial Separation between The great depression Introduction of Digital Revolution- Post Enron Scandal- Era of
Revolution Management and triggered demand for Strategy Frameworks Industry 3.0) Consolidation in Specialization and
(Industry 2.0) Ownership Financial advice Consulting Industry 4.0

1914- 1963- 1980- 2001- 2011-

1886 1926
16 79 2000 2010 Now

Mckinsey & Big 5 (Arthur Boutique

Arthur D Little Anderson, Consulting
Company
To Improve Accounting & Deloitte, E&Y, firms
Operational Strategy Expertise, KPMG and PwC)
Efficiency. Use of Survey of Specialized firms
Beginning of
Managers to gain for niche areas,
Technology
Booz Allen clients. BCG, Bain & IBM, Accenture traditional players
Consulting
Hamilton Company including ERP and Capgemini venturing into
Digital Space.
Emergence of implementations
‘BCG Growth
Management Big 4 selling their
Share Matrix’ and
Consulting consulting arms to
similar frameworks
IT majors, then re-
are used even today
emerging as leading
players with safeguard

Data Source: Consultingquest.com

Types of consulting

Strategy Consulting Technology Consulting Financial Consulting

Operations Consulting Impact Consulting Other Types

Consulting Case Study – Technology Consulting
Design a single ERP platform for seamless information flow between departments and
increase process efficiency

Client Challenge What was done Impact

⮚ One of the largest fuel distribution ⮚ The Technology Consultant team ⮚ Seamless integration of all
companies in North America evaluated the business processes reporting data under one roof
exposed to frequent business of the client and proposed SAP as
process changes the Digital Core around which ⮚ Through SAP Fiori, client was able
the operating model changes can to view critical financial data in
⮚ Was running a mainframe be implemented. real-time, which helped them
system built in the 1970s for make key business decisions.
day-to-day business activities ⮚ Existing Business processes were
re-designed keeping SAP Best ⮚ Custom interfaces facilitated real
⮚ The existing system was not practices in mind. time data exchange between
scalable to support the ambitious various external systems, massively
growth plan and new business ⮚ After gaining approval from all the increasing the overall
operating models stakeholders, re-designed efficiency
business processes were
⮚ Multiple disjointed systems configured into SAP.
worked in silos , making group
financial reporting a nightmare. ⮚ The multiple legacy systems were
decommissioned after data
migration to SAP – the single
source of truth.
Consulting Case Study – Management Consulting
Online Reputation Management and Repositioning & Remodelling of product
offerings to secure the revenue stream

Client Challenge What was done Impact

⮚ The client was a profitable SME in ⮚ New Policy and framework ⮚ In early stages, the CEO reported
North America, founded in 2003 were designed in sync with global impact in conversations with
with operations in Crude Oil standards. legislators.
production and SaaS for O&G
firms ⮚ Digital and Print were preferred ⮚ The firm, simultaneously, reduced
choice of media to radiate the carbon footprint in production
firm’s revamped image. business and enhanced
⮚ The operating province of the firm purchase of carbon bonds
decided to subsidize only carbon ⮚ A line of Green Product offering through SaaS business
neutral firm. was integrated with SaaS business
to propagate the brand image ⮚ Due to pandemic, O&G prices
⮚ The client needed advisory on how and to help in achieving net zero plunged to an all time low and the
to align its and it's province’s carbon goal subsidies dried up. Project was
vision, of immediate net zero halted till pre-pandemic level
carbon policy and image normalcy is achieved.
 Value Chain in Consulting Industry

PROJECT DESIGN
PRIMARY ACTIVITIES*

BUSINESS DEVELOPMENT RESEARCH AND ANALYSIS

• Selling to existing and new clients • Planning activities and problem solving • Data collection
• Relationship building with prospective approaches • DIPP Analytics
clients • Strategy formulation and thought • Conducting research studies
• Networking, marketing, etc. leadership

PROJECT IMPLEMENTATION CLIENT SERVICES PRODUCTS AND INTERNAL

RESEARCH
• Creating implementation roadmaps • Presentations and meetings • Specific product/tool development
• Providing implementation assistance • Client engagement (concerns, training, • Research and content creation (reports,
• Impact measurement of implemented etc.) articles, papers, newsletters
actions • Nurturing customer champions

RECRUITMENT Firm’s
Conducting interviews, campus hiring, lateral hiring, summer internships
revenue
ACTIVITIES**

Creating and maintaining knowledge repository, creating and maintaining expert

KNOWLEDGE
SUPPORT

consultant network for assistance, creating reproducible and codified knowledge

MANAGEMENT
assets

HUMAN RESOURCES Performance evaluations, talent development, alumni network management

MANAGEMENT

OTHER ACTIVITIES IT, Contracts, Legal, etc.

*Primary activities – Directly contribute to the revenue of the firm

**Support activities – Enhance primary activities by providing underlying support
Source: Course of Management Consulting
A Consulting Project – Typical Methodology followed
Strategy Consulting Scope

Design and Implement, Operate,

Assess
Strategize and Measure

Chart out the detailed

Define the business Perform data analysis
implementation plan
problem and the trigger and market research
with timelines

Identify key questions Generate findings and Perform actions as per

and scope out the entire insights the timelines (and
project account for delays, if
any)
Gather required Provide Measure business
data/documentation recommendations to the impact and report
stakeholders by results
building the story
Perform legal work and Create implementation Continuous
contract negotiations blueprint with inputs, maintenance and
for engagement setup outputs, and outcomes support

Allocate resources Identify new growth

(consultants, project opportunities
managers, etc.)
 Key Trends in Consulting

Technology Regulations Pandemic

Decision Making augmented by Emerging Tech Main Drivers are – UN SDG, COP 26 and SEBI
like AI, RPA and Data Analytics. Increasing dependence on technologies such
Circular on BRSR by listed entities on ESG as- video-conferencing and instant messaging

‘Sustainability Consulting’ is now at the Impact on Cash-flow due to delay in receipt of

Increased collaboration between Strategy and forefront for most of the Consulting firms payment from Clients
Technology consulting and strategic acquisitions

Scope is expanding from ‘Reducing New opportunities to relook at the business

environmental impact’ to ‘Increasing employee operating model – Crises breeds innovation
‘Digital Transformation’ is now the
buzzword in Consulting productivity’ and ‘Stronger Governance’

Leveraging re-usable assets in each step from

presales to delivery to ensure laser focused cost
‘Flexible or Hybrid working mode’ for
Increased focus on ROI : Advent of Freelance control
consultants is the new normal.
Consulting Platforms

With economic recovery post pandemic, ‘Professional Services Industry’ including ‘Consulting’ will see growth : Management Consulting Industry is
forecasted to grow at CAGR of 9% in 20221

1 Reportlinker.com MCS Global Market Report 2022

 ● Creative Thinking.

● Effective and coherent way to put forward your ideas and

Skills needed thoughts.

● Structured way to approach a problem.

for a ● Organisation and Time Management.
successful ● Good Team Player.

career in ● Problem Solving Skills/Techniques.

Consulting ● Empathy and Patience to understand the concerns of

clients.

● Credibility.
Typical growth path in a consulting firm
Consulting is a rewarding career … … but it is also challenging

● Opportunity to work with the best minds ● Long working hours / Work-Life Balance
across industries impact

● Direct interaction with principal ● Lots of Travel / Frequent relocation

stakeholders including client leadership /
CXOs ● Work pressure and stress due to Consulting
being a results-driven industry
● Tremendous development and
improvement in key transferable skills ● Change Management

● Networking opportunities ● Up or Out

● Lucrative wages and highly rewarding exit

plans
 Key Takeaways

Session with
Ms. Shivna Majmudar
Link for the file:
Key takeaways from session with Ms. Shivna.pdf
Interaction with X16s
File Link:
Interaction_X16
Thank
You
Types of consulting | Strategy Consulting

● Bring in the third party or outside perspective to the the

business challenges.
Key Players
● Requires considerable industry knowledge and are expected to
assess high-level business issues objectively.

● Assess current practices are in alignment with what firms want

to achieve and provide strategic recommendations the company
can implement to drive better results.

● Examples : Budgeting advice , Production Strategies,

Opportunity management etc.

Back
Types of consulting | Technology Consulting

● Process of solving business problems using Technology as the

enabler.
Key Players
● Involves design and development, implementation, or
management of new technology.

● Technology consultants can help business clients accelerate

growth, cut costs, mitigate risk, attract and develop talent, and
streamline important processes.

● Example: Digitization of the key organizational processes,

cybersecurity assessment, IT function transformation

Back
Types of consulting | Financial Consulting

● Financial consultants are required to provide an independent,

expert opinion on a proposed business plan or decision.
Key Players
● Works with companies across full spectrum of financial services,
including banking, payments, insurance, wealth and asset
management, and capital markets.

● Assists individuals and small businesses to handle and increase

their wealth and assets.

● Optimizes new business processes and modernize global

technology solutions

● Example: Investment advice, taxation planning, income

management, risk assessment,strategy & corporate finance, and
long-term planning.

Back
Types of consulting | Operations Consulting

● Advisory and/or implementation services that improve a

company's internal operations and performance in the value
chain. Key Players

● Example: Boosting the 'Customer Experience' (Sales,

Marketing), Improving the efficiency of logistics (Supply Chain),
Redesigning the manner in which raw materials are sourced
(Procurement)

Back
Types of consulting | Impact Consulting

● Takes a broader approach and focuses on creating social

improvements for several stakeholders involved in the
organization Key Players

● It doesn’t only create improved shareholder value, but also long-

lasting and sustainable improvements to everyone who is
directly or indirectly involved.

● Focuses on aiding non-profits , social enterprises and start ups.

Back
Types of consulting | Other Types

● HR Consulting : Initiating and leading human resource

programs and projects.
Example: Human Capital Strategy, Compensation & Benefits, Key Players
Talent Management, Learning & Development and HR
Technology.

● Legal Consulting: Provides expert and professional legal advice

on a contractual basis to businesses and/or individuals.

● Sector Specific Consulting: Energy Consulting, Healthcare and

Pharma , Telecommunications & Media etc.

Boutique Consulting Firms generally are sector specific

consulting firms.

Back