Consultants to play a pivotal role in enabling business recovery

The Covid-19 pandemic continues to impact economies and lives of people around the globe. As the world is beginning to accept the new normal, businesses too are gradually moving away from the phase of response to a stage of recovery planning.

As a fine understanding of the business implications imposed by the Covid-19 crisis is the first step in planning for a successful recovery, this insight piece offers a thorough analysis of the unique challenges faced by each sector, in a simplified manner.

Transformations in consumer behaviour, business environment, industry structures and government policies are already becoming evident. The shift is likely to intensify over the coming months, necessitating companies to become predictive in analysing future patterns and discovering opportunities to sustain successfully.

Thus, in such a scenario where companies are finding themselves in unchartered waters, we believe consultancies with their sector-specific expertise, strong domain knowledge and revolutionary digital capabilities will assume an increasingly pivotal role in leading businesses to a positive recovery.

This paper takes a detailed look at the role of consultants towards this aim and draws an inference predicting the services that will become the focus areas for consultants in 2020.

Key Takeaways

- Consultants are likely to focus on providing services in restructuring and business continuity strategies,
  supply chain management and M&A advisory in 2020.
- Consultants associated with the government/public sector may see a spike in
  assignments in the Covid-19 recovery phase, as this sector engages rigorously in
  activities to revive the economy.
- Retailers with a strong online presence that are looking for new prospective opportunities
  but struggling with inventory management and cost challenges are increasingly
  opting for consulting advisory.
- PE firms are continuing to invest in consultants to gain advice on buying
  companies at cheap valuations
- The consulting market is expected to emerge stronger from the Covid-19 crisis than it
  did after the past financial crises

Short Summary

This paper takes a detailed look at the role of consultants in planning for a successful recovery of businesses and draws an inference predicting the services that will become the focus areas for consultants in 2020. This insight piece also offers a thorough understanding of the business implications imposed by the Covid-19 crisis for each sector as the first step in recovery planning.

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