Role of the Consultancy Services in Changing Perspectives of Indian Businesses
The roots of consulting industry can be traced back to the late nineteenth century, when the world’s first modern consulting firms were established. From the dawn of that century, what rapidly gained momentum in the business paradigm was management consulting which focused mainly on engineering and finance in its early stages. Still, it was after the 1930’s that the consulting businesses started getting recognition and grow beyond their size along with few partners and small teams.
The consulting space initiated its globalization in the early 1960s after the large American Management consultancies expanded their outreach in Europe. They brought their management tools and experiences to transform the European market. For the next thirty years, the consulting business paved its way towards a never seen before growth spectrum across the Western markets. For instance, revenues of the top ten worldwide management consultancies increased from $200 million to around $50 billion in the early years of 21st century. All the while, the headcount of the thirty largest consulting companies from the industry observed a growth from 20,000 in the early 1980s to 430,000 in 2000 (approx.).
After two decades, the consulting industry has transformed into one of the most developed sectors in the professional services space. It has been generating $ 100 billion to $300 billion in revenues with the appropriate estimate depending on the definitions employed. There are six main domains in the center of the industry, namely, Strategy Consulting, Management Consulting, Operations Consulting, Financial Advisory, HR Consulting, and IT Consulting. Most of the consultants work at large and mid-sized consulting firms.
If we talk about the consulting Industry in India, it has also started growing, not only in terms of size but also in terms of the service offerings. After independence, the Indian government focused on investment in core industrial sector and infrastructure. This is why domain experts were in demand, especially those who could showcase their core skills and competency in designing and building dams, roads, and buildings, etc. The investment in these sectors attracted different engineering and construction companies to check out the business opportunities and contribute the expertise they possessed in these sectors.
Over the years, Indian consulting industry has matured. It has witnessed a surmountable increase in the quantity of pioneers in this field offering lots of new things and exploring all the other sectors equally. The major good pointers of Indian consulting business organizations include low cost structure, professional competence, diverse capabilities, quick learning capabilities, and high adaptability of Indian consultants.
India’s fast paced development has always been cherished and revered globally. Its service sector has been expanding rapidly while contributing to more than fifty percent to the GDP. The consulting sector in India is projected to grow at an annual rate of thirty percent to become Rs. 27,000 crores industry by?. This is all due to the increased demand for consultancy services by domestic and international firms. A booming economy, increasing opportunities along with the rising demand for consultancy services are the key factor for growth.
In this issue of Insights Success titled ‘India’s 20 Best Consulting Companies to Watch in 2020’, we are going to portray some of the amazing stories related to the journey of our country’s finest consulting firms.
Featuring on the cover of this edition is XEAM Ventures, which works closely with Center and State Governments in implementing their E-governance projects such as digitization of Driving License, Passport, Property Records, ICC & Surveys.
The company is also working with – Indian Customs (processing documents for export and import at 192 locations PAN India), AAI (providing resources at 91 airports PAN India), with International Organizations like UNDP for their e-vaccination project, FIND & other world bank funded projects.
XEAM Ventures is a trusted brand whose journey of success started about twenty years ago. Since then, the company has been providing customized services along with qualified professionals to more than 500 clients.
With the vision of ‘Simplifying businesses’, XEAM ventures have evolved multifold having its presence in 200+ locations across Pan India and Abroad. The team provides cutting-edge IT & ITes Services with expertise in Payroll Management, Manpower Outsourcing Services, HR Solutions, Implementation, and handling of all kinds of IT-related projects. It also enables HR Outsourcing as well as HR Management with 100% statutory compliance.
Titled as the Outstanding Consulting Company of this edition is Suhaskrit Trainers & Consultants, an initiative that imparts training and consultancy on those subjects that will always inculcate in an individual or an organization’s values for self-improvement beneficial to the world at large.
Suhaskrit takes pride in its methods of making people reconnect with India’s cultural, societal and educational roots. The company’s foundations are built on these roots of learning to help clients in creating or adopting present day values. This evidently exhibits how Suhaskrit Trainers & Consultants is a subtle yet significant blend of the traditional and the contemporary learning.
UKP Advocates & Legal Consultants has rightfully earned the titled of Outstanding Legal Advisors of this edition. UKP Legal is a core litigation law firm. “We practice mainly in Civil & Criminal Litigation, Arbitration, Environmental Laws. Moreover Commercial Contracts, Real Estate & Conveyancing is our forte,” says the core team. In a fast changing world, the dynamics of legal practice are being redefined at breakneck speed. The need of the hour is to evolve, innovate, bring state-of-art and service oriented approach towards the client, and the entire team at UKP Legal is committed towards this, heart and mind.
Other features include significant companies such as, Dynamic Orbits Consultants Pvt. Ltd. which provides clients with complete end-to-end solutions right from conceptualizing strategies to implementing them till the organization achieves the desired outcome; ICONS Engineering Services which is on a mission to provide quality engineering services at optimum cost in the space where big engineering companies are either not willing or are very expensive for such organizations; KK Sharma Law Offices established in 2012, based out of New Delhi, specializing in Competition Law, Tax, Regulations and Government Relations; Npedia Technologies Pvt. Ltd., with more than 25 years of experience, has acquired the key talent to foresee changes in the current IT consulting landscape; Professionals Network Joint (PNJ) Hub which is an aggregation platform of professionals into the fields of merger acquisition, legal dispute, corporate governance, real estate advisory, and taxation, especially GST; Strudcom Consultants which is on a mission to develop contemporary construction solutions that exceed its customer’s expectations; and TACTPRO Consulting, which is a leading training & consultancy firm in Gujarat that has made it possible for its clients around the world to achieve technological transformation and development through services that enhance the process and operational efficiencies.
This edition also brings to your desk, brief interviews and articles of and by industry experts that will provide you with a different outlook and vision.
We hope you enjoy reading this edition as much as we enjoyed curating it for you.

Author's Bio: 

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