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Are You Measuring The Right Consulting Metrics?

Are You Measuring The Right Consulting Metrics?

July 19, 2017
Although many consultants are embracing digital business strategies that benefit their clients, few are using these same digital methods to better their own firms. The leaders of these firms are missing out, digital methods present an opportunity to track and measure new sophisticated consulting metrics. A digital approach will help consulting firm leadership make better decisions on capital allocation, competitive strategy, client engagement, and productization of intellectual property. Part of the reason why consultants are not measuring these metrics may be because many still largely measure their success by the number of billable hours they can accrue. Because they measure success by utilization, they are less focused on accomplishing more work with fewer resources and more interested in maximizing the use of their available human capital. The problem is that technology has shifted client expectations; whereas previously, clients were content to invest in consulting engagements that involved months of [...]
5 Ways Consultants Can Use Benchmarking Analysis

5 Ways Consultants Can Use Benchmarking Analysis

June 28, 2017
Benchmarking analysis is an invaluable tool for today’s management consultants. Benchmarking involves comparing a current data set to historical data sets or data from industry peers, and it can help consultants determine where clients are ahead of competition, identify areas for client improvement, boost the quality of the firm’s IP, and increase the firm’s competitive value. A number of well-known firms have developed successful benchmarking analysis offerings. Gartner, for example, has been providing benchmarking analysis to great acclaim. Gartner offers IT performance benchmarking services, giving IT functions an unbiased perspective on how their performance relates to the competition and what they can do to improve. The Hackett Group is another firm that specializes in business benchmarking, using a database of data from over 13,000 engagements to inform their conclusions. PwC and Bain are also known for providing benchmarking analyses in operations, sales, and a number of other areas. But [...]
Recap:How Emerging Technologies will Disrupt Consulting

Recap:How Emerging Technologies will Disrupt Consulting

March 19, 2017
Recently, 9Lenses partnered with Consulting Magazine to sponsor a webinar that addressed the impending disruption of the consulting industry and discussed how emerging technologies will disrupt consulting. The discussion included input from two consultancies, Ernst & Young and West Monroe Partners, Managing Director of Kennedy Consulting Research & Advisory Tom Rodenhauser, and Edwin Miller, our own Founder and CEO. You can listen to the full webinar here, but below we’ve provided a brief recap, as well. How Emerging Technologies will Disrupt Consulting… And What You Can Do About it Craig Glindemann, Partner, EMEIA Advisory Centre, EY The discussion kicked off with EY’s Craig Glindemann, who spoke about the emerging technological trends that consultants face today. He noted that there are a number of global trends, such as mobile, cybercrime prevention, and automation, that are inextricably linked to the digital technology that is leading today’s business world. These mega-trends are affecting the [...]
Digital Transformation – How Leading Consulting Firms Define It

Digital Transformation – How Leading Consulting Firms Define It

August 31, 2016
In boardrooms across the world, CEOs, CDOs, and CIOs are rushing headlong into the world of digital using big data analytics, smart machines and automation tools for key aspects of their organizations. This change in mindset is being driven by two things – the growing density of digital capabilities and the increasing demands of customers. And, as these leaders continue pushing their digital agendas forward, it is worth taking a pause to understand the vocabulary and see digital transformation defined. Digital Transformation Defined Leading consulting firms and publications have shed light on the topic of digital transformation. We looked at the best minds in the business, summarized their themes, and highlighted what we thought constituted the best. Digital Transformation and its impact on Business Accenture Business success today requires a customer-focused digital transformation. It starts with prioritizing a superior and relevant customer experience and aligning the organization, processes and technology [...]
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