The Covid-19 pandemic continues to impact economies and lives of people around the globe. As the world is beginning to accept the new normal, businesses too are gradually moving away from the phase of response to a stage of recovery planning.
As a fine understanding of the business implications imposed by the Covid-19 crisis is the first step in planning for a successful recovery, this insight piece offers a thorough analysis of the unique challenges faced by each sector, in a simplified manner.
Transformations in consumer behaviour, business environment, industry structures and government policies are already becoming evident. The shift is likely to intensify over the coming months, necessitating companies to become predictive in analysing future patterns and discovering opportunities to sustain successfully.
Thus, in such a scenario where companies are finding themselves in uncharted waters, we believe consultancies with their sector-specific expertise, strong domain knowledge and revolutionary digital capabilities will assume an increasingly pivotal role in leading businesses to a positive recovery.
This paper takes a detailed look at the role of consultants towards this aim and draws an inference predicting the services that will become the focus areas for consultants in 2020.
· Consultants are likely to focus on providing services in restructuring and business continuity strategies, supply chain management and M&A advisory in 2020
· Consultants associated with the government/public sector may see a spike in assignments in the Covid-19 recovery phase, as this sector engages rigorously in activities to revive the economy
· Retailers with a strong online presence that are looking for new prospective opportunities but struggling with inventory management and cost challenges are increasingly opting for consulting advisory
· PE firms are continuing to invest in consultants to gain advice on buying companies at cheap valuations
· The consulting market is expected to emerge stronger from the Covid-19 crisis than it did after the past financial crises
This paper takes a detailed look at the role of consultants in planning for a successful recovery of businesses and draws an inference predicting the services that will become the focus areas for consultants in 2020. This insight piece also offers a thorough understanding of the business implications imposed by the Covid-19 crisis for each sector as the first step in recovery planning.
Originally published at https://www.acuitykp.com.
Ananya Ghosh, Assistant Director, Corporate and Consulting, is part of the firm’s Corporate Strategy, Research, and Content practice. She oversees multiple client engagements, including those within the domains of media monitoring, content creation, validation, and research. Ananya has over 11 years of experience in research and outsourcing management in diverse fields, such as strategy, business, equity, and credit research.
Prior to her role at Acuity Knowledge Partners, she worked at a KPO, where her responsibilities largely included supporting investment banks and managing clients and other research engagements. Ananya is a CFA charter holder (USA) and holds a Bachelor of Arts (Economics).
Sana Ansari, Senior Associate, Corporates and Consulting, has around 8 years of experience in research and consulting industry. At Acuity Knowledge Partners, she is a part of Corporate and Consulting practice, supporting multiple clients across industries in areas such as media monitoring, content creation, validation, and market and business research. Sana’s expertise is in secondary research, and she is experienced in preparing company- and industry focused-reports, event updates, newsletters, etc. Previously, she worked with Dion Global Solutions, supporting clients on business and equity research. She holds a BA in Computer Applications from Jamia Millia Islamia University and an MBA with a specialization in Finance from Jamia Hamdard University.