The UK consulting market has seen a notable 3.4% contraction, the first since the pandemic. Many large consultancy firms, anticipating growth, are now facing layoffs to preserve profits. This situation is pressuring consulting rates, particularly affecting small and medium-sized enterprises that require specialized services. Experts like Jon Bance emphasize the need for consultancies to focus on businesses' specific needs rather than immediate profits. The rise of outdated technology systems poses additional challenges, highlighting the importance of tailored solutions over generic recommendations in this changing marketplace.
With falling market revenues, UK consultancies have a hole to fill for their shareholders. This has a knock-on effect of increasing rates on businesses, regardless of additional or even quality of service. When you're considering paying a premium rate for a cookie-cutter recommendation, that's where the problem arises.
Investing in the UK consultancy market made perfect sense in the post-pandemic. The market was hungry for technology solutions and, most importantly, how to implement them on a business budget. But many larger firms with reputations to lose took that to mean that more bodies made more experts - instead, it's more like too many chefs in the kitchen, spoiling the broth.
One of the many problems businesses currently face comes down to redundant systems and outdated technologies - dubbed 'tech spaghetti', due to its long intertwining strands of systems that slow operations and drive-up costs.
Collection
[
|
...
]