With the start of a new year 2022, I was just going through some of the requirements our clients had approached us for and looked for some of the key trends we saw in those consulting engagements. Undoubtedly the key word in 2021 was “reinventing”. All the businesses needed to redefine their Sales and Marketing activities to ensure continued success in spite of the Covid induced brakes. Be it digitization to enable teams to work in a more transparent manner from anywhere to entering new product categories and geographies, the year saw all organizations adapting and steaming ahead!
Below is a review of the trends and forces which (in our opinion) shaped the business management consulting industry in India in the year 2021and we feel will continue to develop in 2022 too.
1. Continued Digitization Drive
One of the results of the Covid-19 on businesses has been the digitization drive and the migration to a largely on-line operation. The need to operate remotely, fast tracked e-commerce, logistics, and all application companies. All companies were forced to enable remote working, enhance online security, implement real time working and collaborating platforms apart from digitization and dashboarding. Almost all the industries saw themselves change their data collection, online order talking and deliveries, sharing, collaboration, online learning, meeting, transparency in data visualization. This trend will only enhance in the year ahead with more growth across Industry verticals.
2. Focus on Tangible and Quantifiable Results
The many swings corroded by the environment raising safety alarms while continuing business as usual or expecting growth in 2022. Organizations will expect to see tangible value by engaging the business consultants in a more partnering approach. Expectations from Consultants will be to analyze, design and then implement cost-effective solutions, with more expertise than a ‘search & find’ approach. Consultants will work to develop new strategies or re-align existing strategies with the operational realities and work along with their clients for quantifiable results and improvements.
3. Strategic Partnerships
The uncertainty of the times has reinforced the requirement for strategic thinking for all businesses and think of de-risking their business operations. The clients continue to look for consultants to work on different scenario planning, contingency planning, and a business strategy to include diversification. Clients in the Manufacturing sector look to enter into strategic partnerships with business consultants to deliver next-generation supply management technologies for them (not just going for the usual suspects). Such partnerships require consultancies to understand client’s operational processes, personas and prepare process maps not just from an operator’s point of view but also from business perspective. Collaborating with innovative and experienced consultants, will allow businesses to be nimble, flexible and fast in providing solutions to the customers.
4. Remote working
Remote working is something consultants are used to, but constant market (depending on requirements) visits, was a way to keep abreast of happenings and new technologies and happenings. But for the past two years most teams have ended up spending most of their working hours at home, and we do think this remote working will continue into 2022. However, connecting with prospective and ongoing clients remotely requires a fresh approach and, as a result, virtual consulting will become widespread in 2022. Due to the pandemic, everyone in the B2B space is trying their best to ensure 100% virtual and digital offering can deliver the same outcomes as physical consulting and training.
5. Market Research
Market research to enter new markets (new states or geographies) or launch a new range of products is still as critical as ever but there has been a renewed focus on secondary research, helped with more entities establishing a digital presence due to the covid. This facet saw more emphasis on getting quality research online with primary research being reduced to need basis and on confirmations or expression of interests by the players.
Businesses can only strive in 2022 by aligning themselves with the changing business operations trends. It requires redefining strategy by integrating digital automation, technology and data. Consultants at 10XG Ventures have helped their clients with innovative solutions to grow their business 10X. They work as an extended business development team to their clients which enables them to design and develop multi-channel solutions specific to the client’s problem areas. To know more about 10XG Venture you can visit their website www.10xg.in or write to them at email@example.com
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