Given the constant evolution of the consulting industry, it is crucial for executives, project managers, and buyers to remain updated on the latest trends and advancements. Having an understanding of cutting-edge technologies and progressive solutions is key to making informed decisions regarding consulting options that align with your business goals and initiatives, ultimately providing a competitive advantage.
We would like to introduce you to a few current consulting market trends 2024:
1. Digital transformation consulting: focusing on people
Many companies have seen an increase in the digital maturity of their value chain, product and service offerings, and customer touchpoints. Despite this progress, there is still a high demand for digitalization consulting services. While the number of digital adopters is growing steadily, not all companies have fully leveraged the opportunities presented by digital transformation.
By 2023, there will be noticeable advancements in technologies like data analysis (analytics) and generative artificial intelligence (genAI), leading to an increased need for consulting services to implement these new tools and incorporate them into business strategies and operations.
Consulting firms specializing in assisting organizations in harnessing the potential of data analysis, artificial intelligence, and automation are becoming increasingly crucial. It is not only about understanding new technologies and their practical applications in businesses, but also about empowering clients' staff to utilize these technologies effectively, foster agile work environments and innovative cultures, and drive the adoption of data-driven business models and decisions. Consequently, there will be a growing need for digital transformation consulting that prioritizes a human-centered approach.
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2. ESG and sustainability consulting: New technologies & best practice implementations as drivers
Businesses are more and more interested in incorporating sustainability into their operations and minimizing the environmental footprint of all activities across the value chain. This includes not just reacting to regulations and laws and meeting growing reporting demands, but also overseeing essential business transformations and effectively putting them into practice within companies.
More and more companies are seeking the expertise of technology consultancies for tasks related to sustainability. This shift is driven by the recognition that two categories of technologies can address the sustainability issues faced by companies. The first category includes technologies that facilitate the shift towards clean energy and other solutions that promote sustainable business practices. The second category consists of technologies that can fulfill the current sustainability reporting and due diligence standards.
ESG "best practices" are becoming more sought after as they form a crucial part of numerous companies' corporate strategies, appealing not just to regulators and investors, but also to customers and employees. The shift from mere "strategic planning" to successful on-the-ground implementation is driving a growing demand for consultancies that possess specialized expertise in implementation, along with technical and operational process knowledge.
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3. (Cultural) transformation and leadership consulting: focusing on purpose
In order to effectively establish new beliefs and behavioral patterns that shape the culture and success of a company, every organizational change, implementation of new business solutions, strategies, processes, or technologies necessitates a "people-driven change." This involves enabling leaders to adopt change and serve as examples, actively engaging and motivating employees, and maintaining transparency regarding the objectives, aims, and results of business transformations.
Companies are now more frequently seeking assistance from specialized consulting firms that provide "purpose-driven consulting" in this particular scenario. This trend is driven by the understanding that companies aligning their change efforts with their purpose, vision, and values are better positioned for success and longevity in their transformation endeavors. A company's purpose serves as the central concept guiding its growth and evolution. A robust purpose deeply rooted in the company's identity fosters strategic clarity and serves as the primary catalyst for transformation. It communicates to all stakeholders, both internal and external, the principles and beliefs that the organization embodies.
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Stay updated on the changing consulting industry with Cardea.
Our services and expertise center on guiding the selection of management consultants, emphasizing the full procurement process and key factors that have a substantial impact on consulting firms' performance and project outcomes.
Executives & project managers use our services to maximize their added value because we
ensure transparency about innovative consulting solutions and consulting companies,
establish a standard for comparing providers and solutions in the consulting industry,
support with recognizing deals that provide the most value for the price,
Enhance project success rates significantly by ensuring an optimal alignment between project needs and consulting services.
Our work
Here you will find an excerpt from our most recent project evaluations
Our services include:
Definition and set-up of consulting projects
Analysis of consulting needs and definition of evaluation criteria
Tendering and selection of the most suitable consultants
Management of management consultants and consulting projects
Measuring project performance and the performance of the consultants used
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