Digital Transformation in the consulting industry #SuccessStories
Updated: Dec 23, 2021
Part of the series #SuccessStories where our JET associates describe their work and challenges they had to overcome
Leading strategy consulting firms are massively exploring digital capabilities to meet changing client needs. We took a look at four Mediterranean countries and assessed whether strategy consulting firms should expand their digital business in the region.
What we did
We conducted a market and competitive analysis for digital consulting services among strategy consulting firms focusing on different services and pricing models. The project was divided into three major milestones:
The team conducted a survey and collected +40 survey responses from +10 consulting firms in addition to the ESCP Alumni network. The results were then shared among all participants.
Given the acceleration of the digitalisation of business and society, demand for digital consulting services is significantly increasing and while its impact on revenue is less than 25%, it is likely to rise in the coming years. To address this new trend, strategy consulting businesses are, in fact, developing new digital capabilities.
Digital Transformation and Digital Strategy are the most requested services, rather than single digital capability services, such as AI or Blockchain. Healthcare and financial services are industries with the highest interest in digital consulting services.