Outsourcing for Consulting Services Amid COVID-19 Pandemic
The global management consulting industry was worth c.USD160bn in 2019 but is estimated to have shrunk c.19% y/y to c.USD130bn in 2020 because of the pandemic. Changing business scenarios, on-and-off travel restrictions and increasing client expectations signal potential for outsourcing consulting services in 2021 and beyond, with the role of competent outsourcing partners having grown significantly. This paper highlights the following:
- Impact of the pandemic on the global consulting industry
- Key strategies consultancy firms are adopting amid the pandemic
- Key factors driving the outsourcing of consultancy services
- How consultants are staying ahead of the competition through outsourcing
- How Acuity Knowledge Partners can help consulting firms
Manish Kumar, Delivery Lead, is part of the Private Equity and Consulting team in Acuity Knowledge Partners, Gurgaon. Currently working for a Global Consulting Firm in the debt restructuring domain. He has over 6 years of experience across Investment Banking, Structured Finance, Restructuring and Business Research & Consulting
He has diverse experience of working on various projects related to corporate finance, transaction advisory, debt restructuring, business valuation and investment banking research
Manish holds a Bachelor’s Degree in Commerce from Hansraj College, University of Delhi with specialization in Finance and Accounting.
Author would like to acknowledge the support and valuable inputs from his seniors and colleagues namely; Manish Chandna, Vaibhav Methi, Shivani Dogra and Malarkodi Mahendran.