A consulting firm or simply consultancy is a professional service firm that provides expertise and specialised labour for a fee, through the use of consultants. Consulting firms may have one employee or thousands; they may consult in a broad range of domains, for example, management, engineering, and so on.

Management consultants, in particular, typically work with company executives and provide them with generalists and industry-specific specialists, known as subject-matter experts, usually trained in management or in business schools. The deliverable of a management consultant is usually recommendations for achieving a company objective, leading to a company project.

Many consulting firms complement the recommendations with implementation support, either by the consultants or by technicians and other experts.

Consulting services are part of the professional services and account for several hundred billion dollars in annual revenues. Between 2010 and 2015, the 10 largest consulting firms alone made 170 billion dollars growth revenue and the average annual growth rate is around 4%.

Segments 
The segmentation of advisory services varies widely across organizations and countries. Categorization is unclear, in part because of the upheavals that have occurred in this industry in recent years.

One approach is to separate services into five broad service delivery families, considering the managers they are targeting:
 Services related to the company's overall strategy, which are addressed to the CEO,
 Services related to marketing, communication, sales and public relations, which are addressed to the CMO,
 Services related to management, financial management, taxation, accounting, compliance with regulations, for the CFO,
 Services related to the company's operations, intended for operational management, which may be different depending on the industrial sector (technology director, plant managers, operations directors, Research and Development managers), for instance COO and CTO,
 Service related to information technology (see IT consulting) intended for information management, which are addressed to the CIO.

Models of business 

A consulting firm's model of business may be compared to staffing, wherein the objective is to lower labour costs for clients for an intended result, or relative to an intended result or output, in order to charge for a profit margin for the consulting firm. Clients are looking to procure or purchase external help and assistance. Consulting firms sustain their revenues from a labour economic point of view as a method for distributing labour, where certain positions, roles or fields of expertise within the labour market find it more suitable for contract work, as contrasted to in-house employment, for a few conceivable reasons:
 Client needs being incontinuous, or continuous but otherwise volatile in that they may vary from time to time in nature and scope,
 A potential scarcity of skilled labour available on the market, 
 The possibility of offering a higher work level activity,
 The necessity for licensed labour or other qualified labour for tasks not making up the core task assembly of the client organization,
 Looking to get a hold of or utilize of third party intellectual property, intangible capital or other types of goodwill belonging to the consulting firm.

Aside from the economic arguments stated above, consulting also acts as a corporate services model:
 Where internal consulting solutions (at which the client firm acts as a de-facto employer) may run into issues of scope once projects get too large, external consulting firms may be able to provide a better solution for the larger consulting deals on the market,
 Risk and compliance audits may be suitable for a consulting contract as a means of safeguarding neutrality,
 Consulting comprises the natural service model for large-scale transformation projects in client enterprises,
 Certain service models, such as financial auditing and economic consulting, are effectively required to offer their services in the form of consulting agreements due to a lack of industry position outside of the tertiary sector,
Some clients may decide to hand over entire assemblies of tasks to consulting firms for a period of time - this is akin to outsourcing agreements, however with the exception of a predestined due date which is atypical in outsourcing,
Consulting is also used as a third party service model as could be seen in for example contract formations of b2b-deals, legal consulting and M&A activity,
consequently acting as a source of profit for clients, consulting firms and society as proffered. The consulting business model can be seen as a result of the knowledge economy, and as a subset of the knowledge industry. Today it is not rare for consulting firms to offer what may be considered turnkey solutions to clients. Knowledge transfer is also a prevalent sales argument for consulting services.

Outsourcing 
It is common practice for consulting firms to be involved in the sale of outsourcing services as well. Similarly, outsourcing firms may offer consulting services as a way to help integrate their services with the client. Many consulting firms offer several service packages as part of their business portfolio. While consulting services and outsourcing services are compatible, issues arise if the clients are not aware of the differences between the two. From an ethical standpoint, it is important that clients are aware of what type or types of services they are procuring, as consulting services are meant to be a complementary service to the client firm, whereas outsourcing effectively aims to replace parts of the client firm that are imperative to their operational ability.

Types 
There are different types of consulting firms serving different sectors. They mainly fall under the following fields:

 Architecture and Engineering
 Financial services 
 Health care
 Hotel and hospitality industry
 Human resources
 Information technology
 Legal
 Management
 Music
 Regulatory compliance

Some consulting firms also serve niche sectors, such as:

 advertising/marketing/public relations
 environmental consulting
 entertainment/media
 energy
 logistics
 consulting in politics and the public sector
 real estate
 recycling
 small business
 commodities

Successful consulting firm cases

Mexico 
In 2013, there was a randomized trial in Mexico where 432 small and medium enterprises were allowed access to management consulting services for one year. As a result of this trial, there were many positive impacts. Such positive impacts include: increase in entrepreneurial spirit, increases in employment and higher wages for employees. Even after 5 years after the trial, positive impacts are still active. These results were achieved by advertising a consulting program to 432 enterprises and recorded data on the positive effects.

Money laundering in consulting firms 
A consulting firm is a suitable instrument for money laundering. Illegally obtained money is laundered by the employment of consulting companies. The reason consulting firms are so effective at laundering money is because consulting services are immaterial, therefore, pricing is non-transparent.

Another reason consulting firms are effective at laundering money is because sometimes consultants regularly leverage their clients into charging higher prices. When a client of the consulting firm is satisfied, the consultant can charge higher fees through more leverage while setting prices through the contracting prices. Therefore, when auditors inspect financial statements provided by the consulting firm, the consulting firm can state that a certain consulting project costed an 'x' amount of money and auditors are unable to detect fraud, thus allowing money laundering to occur.

Impact of consulting firms in emerging economies

Negative impacts 
The impact of consulting firms on local businesses in emerging economies do not always have positive effects. One reason for this is that firms in emerging economies suffer from the inferiority of their technologies and innovation capabilities, thus, although they have access to consulting firms, they cannot make the most of the advice given. Advice given by consulting firms to clients may not be used efficiently as clients firms in emerging markets tend to suffer due to a lack of infrastructure, organisation, and education. Another reason firms in emerging economies struggle to effectively use consulting services is that innovation is very costly and risky.

Positive impacts 
As noted above, consulting firms in emerging economies do also have positive impacts. Positive impacts include: increases in employment, increase in entrepreneurial spirit and higher wages for employees.

Impact of consulting firms in developed economies 
One study shows that there is a significant difference between efficiency between consulting firms in America (developed economy) and consulting firms in Asia Pacific regions (emerging economy). Efficiency scores of consulting firms in America were significantly higher than consulting firms in Asia Pacific regions. This is because firms in developed economies have better infrastructure, organisation and education, thus advice given by consulting firms is used efficiently.

See also 

 Consulting
 Information technology consulting
 Knowledge economy
 Knowledge industry
 Knowledge intensive business services
 Knowledge transfer
 Management consulting
 Professional services network
 Staffing
 Temporary work

References 

 
Knowledge firms
Legal entities
컨설팅 펌(consulting firm)은 서비스 영역에 따라 전략, Operation, IT 컨설팅으로 구분되며 서비스 제공 지역에 따라 local, global consulting firm으로 구분된다. 컨설팅펌 및 제공 서비스 영역은 국내에 진출한 회사를 중심으로 기술한다.

전략 컨설팅펌

TOP-TIER GLOBAL FIRM
소위 MBB가 글로벌 선두권 전략펌을 구성한다. MBB는 Mckinsey, BCG, Bain&Company를 일컫는다.

SECOND-TIER GLOBAL FIRM
L.E.K Consulting, A.T Kerney, 올리브와이먼 등이

기타 부티크 전략펌 
부티크 전략펌은 대략 10~15명 정도로 구성된 전략펌을 칭하기도 한다. 여기에 해당하는 전략펌은 C.V.A, 로랜드버거, ADL등이 있다.

대한민국의 전략펌 
BCG 출신으로 구성된 T-Plus컨설팅, 네모파트너스에스씨지, Quantum & Partners 등이 있다.

오퍼레이션 컨설팅펌

글로벌 컨설팅사 GLOBAL FIRM
글로벌 Top 4 회계법인 계열 컨설팅사가 시장을 독식하고 있다. 대표적으로 PWC, Deloitte, KPMG, E&Y 등이 선두권을 이루고 있다.

대한민국의 컨설팅펌 
2010년 초반에는 대한민국 내 오퍼레이션 컨설팅펌이 나름 활성화되었으나 컨설턴트 지원자의 급감 등으로 인해 글로벌 컨설팅펌에서 로컬 인력 등을 스카우트해가는 경우가 빈번해짐에 따라 제한적 성장세를 보이고 있다.

IT 컨설팅펌

대기업 계열 
대한민국에는 글로벌 IT 컨설팅사가 약세인 시장이다. IBM 등이 있기는 하나 대기업 계열 대비 매출 규모는 상세적으로 열세이며, 이또한 지속 하락 중이다. 대기업 계열은 매출 규모 순으로 삼성SDS, LGCNS, SKC&C, 롯데정보통신 등이 있다. 주된 고객은 그룹사 즉 Captive Market이다. 최근에는 공정거래법 등의 이슈 등으로 인해 대외 시장을 다시 공략 중이다. 특히 SDS가 과거 포기했던 금융 등의 시장에 재진입하고 있다.

Global Solution 컨설팅펌

ERP 
SAP가 대기업 시장에서 압도적 시장을 점유하고 있고, 점차 중견 시장까지 확대하고 있다.
최근에는 HR 영역에서 강점을 보이던 Workday가 성장 중이다.

CRM 
대기업을 타겟으로 On-Premise방식은 SAP의 Sieble등이 있고, 클라우드방식은 세일즈포스닷컴이 강자이다.

RPA 
오토메이션에니웨어, 유아이패스, 블루프리즘 등이 3강 체계를 이루고 있고, 그 뒤를 소프토모티브 등이 추적 중이다. 국내 업체론 t삼성 SDS의 Brity RPA,체크메이트, 그리드원 등이 있다.
각 솔루션별 차이는 있으나 소프토모티브는 RDA에서 출발하여 RPA로 진화하고 있으며, 유아이패스는 RPA에서 RDA로 확장 중이다.
2020년 5월 Microsoft가 softomotive를 인수함에 따라 지각 변동이 예상된다. 기존softomotive명이 power automate로 변경되었다.  최근 POSCO ICT가 자체 솔루션인 a.works를 출시 중이며, 삼성SDS는 'Brity Works'를 출시하였다.

low/no code 
medix,microsoft,servicenow, salesforce 등이 4강 체계를 이루고 있다.

Commerce 
On-Premise 영역에서는 SAP의 하이브리스(Hybris)가 국내에 많은 사례를 보유하고 있다. 클라우드 방식에는 Demandware 등이 있다. 디멘드웨어는
화장품, 스포츠웨어 브랜드 및 명품 브랜드에서 상대적 강자이다.

Vertical 컨설팅펌

MES 
대기업계열로는 미라콤 등이 있으며, 비즈니스인사이트가 다양한 반도체사 프로젝트 경험을 바탕으로 시장에서 선전하고 있다.

CRM 
전통적인 CRM을 추구하는 회사는 DNI Consulting, CMI 등이 있으며 멤버십, 콜센터 서비스를 동시에 제공하는 회사 등이 주를 이루고 있다.

데이터 분석 회사 
제조사 특히 반도체사의 데이터 분석에는 비스텔, 베가스가 차별적 역량을 보유하고 있으며 유통사, 온라인 분석의 ZTC, BAKorea 등이 있다. 또한 온라인 비정형 데이터 분석에서는 아크릴 등이 역량을 보유하고 있다. 금융권의 신용평가 모델 및 신용 리스크 등을 집중 수행하는 데이타솔루션(구 SPSS) 등이 있다. 나머지 회사는 2~5명 정도의 소규모 회사가 다수 포진해있다.

RPA 개발 회사 
대부분의 시스템 개발 회사에서 RPA 구축 등을 수행하고 있다.
구축 회사는 솔루션별로 구분된다. 대기업 계열외 전문 회사는 오토메이션애니웨어는 파워젠, 에코정보기술, 레인보우브레인, fdx 등이 있으며
유아이패스의 경우 한국스코어링,타임게이트, 아주QMS 등이 있다.
Power automate의 경우 dex 컨설팅, 메타넷,롯데정보통신 등이 있다.

low/no code 개발 회사 

구축 회사는 솔루션별로 구분된다. microsoft powerapps의 대표적 회사는 dex 컨설팅이며, 세일즈포스의 경우 digifomer 등이 있다.

신사업 전략 및 실행 
신사업 전략 및 비즈니스 모델 분석 등은 대부분의 컨설팅 회사에서 기본적으로 제공되는 서비스이다. 그러나 신사업을 성과 공유 계약을 통해서
실제로 사업 이행까지 E2E로 책임지고 신사업을 대행해주는 서비스가 나타나고 있다.

클라우드/오픈소스 컨설팅펌

클라우드 
퍼브릭 클라우드 업체로는 메가존, 베스핀글로벌이 선두 그룹을 유지하며 영우디지털, 오픈소스컨설팅 등이 서비스 제공 중이다.

오픈소스 
오픈소스컨설팅이 대기업 위주로 서비스 제공 중이며, 누리꿈솔루션 등도 자체 인력을 통해 서비스 제공 중이다.

각주 

컨설턴트
서비스업 관련 직업
상담