Convergence and Diversification in Professional Services
The market for traditional consulting services is shrinking. Don’t get us wrong; overall, the global management consulting industry has grown, but this has masked a seismic shift away from traditional services, and towards multidisciplinary ones. In fact, the digital transformation market grew a whopping 36% in 2018, while the rest of the market contracted by 7%. Additionally, our research has shown that being able to provide multidisciplinary services also has a significant and positive impact on a firm’s perceived ability to add value in the eyes of clients.
And as you might expect, everyone wants a bigger piece of the pie that is multidisciplinary services. As a result, the competitive landscape has come to be dominated by one overwhelming theme: convergence. Everyone is doing everything.
Our latest white paper attempts to track exactly which direction professional services providers are moving in, and why.
To find out more, access the report or contact us.