How consultancy services can play a vital role in helping businesses become successful

financialexpress.com:

Today, each one of us needs outside help from a ‘consultant’ for most areas of our lives. We visit doctors who consult us; we go to Vastu experts when building or renovating our homes; we go to a CA for filing our returns; and we have those who help us invest. We do this because these ‘outsiders’ offer us objectivity, expertise, and knowledge of the world around us, including how to maximize the value creation process.

Well, companies are no different! They also need ‘consultants’ to be successful in a dynamic, ever-changing world. Could anyone have thought how digital marketing would become the buzzword, more so, during Covid times?

Today, we find that consulting firms have already made a niche for themselves and offer specialized services in different domains. We have a plethora of experts available in areas like finance, marketing, taxation, IT, investment, and overall management. And these categories are not even the tip of the iceberg.

Before we discuss how consultancies can help businesses become successful, it is important to distinguish between small/ mid-size companies (many of whom are owner-driven) and large corporations, which are very layered and have multiple functions being performed by thousands of employees. Though different in design, culture, and revenue, there are a few areas where consultancies can benefit both kinds of companies.

Also Read: The hidden powers of your bank account you may not be aware of

Before one gets into specific areas of benefits, here is an interesting story. It is from the movie called ‘Up in the Air’, where the actor George Clooney has been hired by a large corporation to go around the USA, terminating the employment of multiple employees. Normally, this would have been done by