In so many ways we are living through a transition period, going through
quarantines from pre-COVID times to
post-COVID times. Not only has this impacted and permanently changed the way
billions of people around the
world currently live, but it will also impact how business are run, clients are
engaged, and how the economy
functions in the long term.
Overall, executives seem to have a positive long-term outlook. Many analysts are
predicting that when a vaccine is created or
as treatments become more efficient and effective, we will see signs of
recovery. This could be a prime moment to call in the
management consultants to develop predictive models and create plans for when
the market reopens. How, though, have consulting
practices changed in these past few months?
With the meteoric growth of Zoom as a communication device, consultants are
learning to leverage technology better than ever.
Though it is more challenging to build trust through these platforms,
consultants have been finding innovative ways to go about their work.
For example, in strategic consulting services, holding focus groups to dive
deeply into consumer sentiment can now be done cheaply, efficiently, and
remotely. Finding participants no longer requires travel, and more
geographically diverse consumers can be sampled, recorded and analyzed.
This isn’t even considering the number of product-specific tools available to
annotate discussions and organize a meeting.
This same socially-distant atmosphere can pose major challenges as well, as any
research or client-specific information needs to become cloud-based. Access to
this information is key for any consultant team to produce valuable
recommendations on their projects, and cybersecurity on these
devices and platforms will need to be kept tight. System vulnerabilities need to
be eliminated now more than ever due to these multiple access points. Out of
dozens of potential connections to sensitive data, if just one workspace is
compromised, information could be lost for the entire team.
Luckily, companies like Falcn Lab can help develop safe and secure applications
Even after overcoming all these challenges, wider market factors need to be
assessed and considered by organizations. Due to coronavirus, merger and
acquisition activity, a key revenue driver for financial and accounting
consultants, has dropped by about a third. Supply chain disruptions are making
strategic decision making far more difficult than it has ever been for
businesses in many industries. Consultants need to assess their long-term
planning, and find new ways to create distant value. Some have found ways to
expand the reach of their products through promotions,
while others have launched virtual sessions to help clients’ teams stay focused
and connected through this times.
These effective additions can increase the impact of your consulting service to
your clients through quarantine, and strengthen business
relationships in the future. Consultants need to play the long game right now in
order to survive and position themselves for major success
when economic recovery comes. Leveraging new video technology can be a simple
and easily adoptable way to find current success in consulting and strengthen
present relationships with clientele. Developing your current capabilities and
products for your clients can be one of the most net-positive
investments when considering recovery and post-COVID growth.
Falcn Lab can help build your products and technologies and find ways to better
leverage the technology you may have to reach your long-term goals.
Whether it is through informational database development, application and
interface design, or mobile app development, Falcn Lab can become your preferred
technology partner, even during these socially-distant times.