There are a number of recent consulting trends that are making waves throughout the industry. From clients who have become more particular about who they are willing to work with to more widespread use of value-based performance metrics and billing models, businesses and professionals would do well to learn more about the hottest new industry trends.
Growing Demand for More Knowledgeable Consultants
The rapid rate of change within today’s marketplace means that consults have to work extra hard to keep their knowledge and understanding up to date. Today’s consultants often have a narrower scope of expertise and maintain a tighter focus than their predecessors. Other resources, such as software automation or data analytics have also begun to play a more prominent role in ensuring that consults are able to utilize the most complete, accurate and up-to-date information possible.
Freelancers and Crowdsourcing
The freelance business model has long been dominate within the consulting industry. The rapid growth of the so-called Gig Economy and the ease with which clients are able to crowdsource effective consulting solutions suggests that this is a trend businesses can expect to see a whole lot more of in the days ahead. The need for consultants who possess more specialized knowledge and focused expertise has made maintaining an in-house staff an eve more expensive proposition, one that could end up placing considerable strain on an organization’s bottom line.
New Billing Models
New pricing and billing models are also serving to shake things up within the industry. More clients are seeking custom billing plans that afford greater ability to quantify the value of a service and to measure the return of investment provided. New pricing models are also able to benefit consultants by helping to eliminate any concerns that their clients may have regarding hidden fees or additional charges.
The consulting industry is rarely stagnant and key trends that are currently in their infancy have the potential to reshape the industry for years to come. Businesses and professionals who rely on consultants to provide them with the insight, understanding and assistance they need in order to make more effective decisions would do well to keep pace with any industry changes that have the potential to impact them directly.