An Investigation into the IT Consultancy Industry: Challenges & Future

This report investigates the management consulting industry, focusing on the information technology sector. It examines the growth of the IT industry from its past to its present status, highlighting the role of IT in processing business information and providing telecommunications services. The report discusses the emergence of IT, driven by developments like telegraphic lines, computers, and the internet. It assesses the current size and main activities of the IT consultancy industry, identifying major firms like Deloitte, KPMG, PwC, and EY, as well as the impact of technology changes and digital transformation. The COVID-19 pandemic's influence on IT consultancy is analyzed, along with key issues facing industry leaders, such as changing client behavior, profitability, new competition, project complexity, cybersecurity, and logistics. Finally, the report explores future prospects for the IT sector, emphasizing the importance of strategic planning, web service development, and business expansion, with a focus on customer satisfaction and global strategy.

Effective management
consultancy

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
The growth of IT industry since its past status to the current status............................................3
The present...................................................................................................................................4
Future prospectus of IT Sectors...................................................................................................6
CONCLUSION................................................................................................................................8
REFERENCES..............................................................................................................................10

INTRODUCTION
Management consulting referred to as business consultancy that advice and implement
the task and services in the organization with improving management and their strategy, and
organizational performance and process. Aim of the project is to explore and understand a part of
the management consulting industry. The project lead to understand the past, present, and future
of the company. The main areas of consulting are Strategy, Information Technology, Operations,
Financial or Human Resources. History of this area of consultancy, main activities carried out in
organization. Area develop in the future, new skills and capabilities will firm need in order to
thrive in this area in the future.
MAIN BODY
The growth of IT industry since its past status to the current status
IT industry are the management consultancies that produces software and hard-wares through
which the internet services has been created. This sector is playing major role in processing the
business information in worldwide. It is the most developed sector in terms of providing
telecommunications. The industry has come so far from its starting point. Earlier, the IT sectors
used to provide the services related to the web development only. But now, they are providing its
services at the worldwide in different sectors of business and regulatory services. From its
starting the sector always shows the increment in terms of providing efficient communication
facility to the customers. (Lei and Slocum Jr, 1992). The achievements of the IT is just not
limited up to this. Apart from this, the industry has adopted various latest technologies in
performing their operations. . (Burger, Mayer, and Bowal, 2007). The firm has showed effective
performance in every aspect throughout the past. And maintaining its position in present as well
by performing all the services. And this is the main motive of the IT sector that, they have to
perform like this in near future as well. The industry believes in the concept of “setting a base for
the future by focusing on the present scenario”. The IT firms has gained many opportunities
throughout the past and made a strong ambition in relation of providing highly satisfied services
to the customers.
The emergence of IT sector
The sector has showed the success rate throughout the past, here are the main aspect due to
which the IT department are successful. In the year 1870-1900 during second industrial
revolution, there was a development of telegraphic lines in UK. This development enables the

people in interacting with each otheR from the distance Afterwards the innovation has been done
in this by the year 1950. The computes has been introduced. (Gallery, 1994)The emergence of IT
started taking place from here. In year 1990, the internet was evolved that helped in transferring
of information in worldwide. The Information technology played an important role in enhancing
the stability of internet. The demand of internet from the year 1990 tends to increase as it opens
up various opportunities for the businesses. (Hurley and Schaumann, 1997). Along with this, the
demand for IT sector has also been increased as these sectors are the core base of
telecommunications. By the year 2010 the internet speed shows up various innovations such as
changing from 2G TO 3G and it continuous. Due to this, IT sectors got various opportunities in
order to explore their activities and working onto this.
The present
What is the size (revenue) of this area of the industry
Information technology has a strong demand for regulatory driven transformation, and cyber
ethical and legals services. Information technology Management consultancy industry worth is
more than a billion now a days. The sector is one of the largest industry in the professional
service sector. In the past decades' company shows the devlopment and progress in the industry
that lead to achieve this position in the current scenario of the country. Information technology
develop extensively. In 1870-1900 the second revolution of the company happened and in the
2010 industry achieve and emerge the big data.
What are the main activities carried out by the industry
Company provide services to the customers and provide skills to them where they perfectly fit.
Company acknowledged by their work by doing the audit of big firms across all over the world.
There is range of services company provided to their customer. industry also led a cybersecurity
project where they helped the many organizations to take advantage of the new market
opportunity by making innovation in their company. Information technology industry guaranteed
their client by the unlimited opportunity and business positivity impact of the society and put
their full potential towards it (Bessen, 2017).
Who are the major firms in the information technology of consultancy
There are four major organization in this area Deloitte, KPMG, PwC, and EY. These are the
firms that contribute major role in the professional field of the information technology network

to provide services. The services they offer are auditing, accounting and advisory, consultancy
tax and legal advice the firms and their clients. Accounting and tax advisory in the firm majorly
contributed by these firm.
What about small and medium sized firms, one-man bands etc.
There are a lot of the basic small and medium firm, one man band firms who are operate their
firm in the market. The competition in the small and medium sized firm become more than the
big firms. The crisis covid-19 impacted on the small and medium enterprise very bad because of
that many small firm shut down.
How is the area being disrupting by technology changes
Consultancy company mainly done two things, it introduces the world towards new projects and
field and labelled them under the digital transformation. Clients are embracing with the artificial
intelligence and automation nowadays. Secondly, the technology advancement has blurred the
traditional approach of the old or existing firms in the market. Consulting before technology is
on project based and taking place by systematic implementation. Now is totally digitally work
and consultant nowadays work with the client to design and develop the application and software
for the clients (O'Leary, 2019).
How is the area affected by digital transformation
Digital transformation is a service that provide the new organization to build a innovation in their
new businesses. And it also seeks the digital transformation in consulting to deliver their
services. The concept of digital information in the company used and misused to describe the
information technology concepts. The traditional area or the existing firm who is not developed
well to apply the digital information in their company affected by it because of the digital and
IT. Many companies of the consultancy employee is not that skill full to maintain the technology
well. That's how the digital transformation affect the so many traditional companies. Digital
information in the company take a main role and the cyber security of the company should be
maintained.
How has the area of IT consultancy has been transformed by the pandemic
COVID-19 crisis brought many challenges for the firms not only the consultancy but for all type
of industries. Still company accelerated there area of digitalization and their supply chain of
providing services and company share digital services to their clients. Many companies did not
have the solution to over come with the crisis they need the temporary solution regarding the

crisis and the work . To stay competitive in the market and economic environment a company
need new strategies and practices and train their employee for that. To adopt the digitalization in
their firms so that the consumer can move towards the online channel of the firms.
What are the key issues facing leaders in Information technology.
Consultancy company facing many issue in their businesses. In growth there are a lot of
challenges faces by the consultancy industry. As competition increase in the market as well as
technology, therefore the company challenges also faces the issue.
Changing client behaviour:- changing client behaviour is one of the factor that faces by the
company because client always want something new and innovative way from the company.
Therefore, it is difficult to give the quality a perfect service3 in a short time of period.
Profitability:- this factor also difficult in the company as the natural calamity arises like,
COVID-19 therefore the profitability of the company decreases.
New competition:- as technology and digitalization in the environment increases therefore the
company faces the threat because of the new entrants and their new techniques of handling the
clients (Petr, 2018).
Project complexity:- some of the project of tax advisory is difficult for the company to handle
but after applying and advanced the organization technology. Company seems less facing issue
regarding this matter of project complexity.
Cybersecurity:- as now a days company work on a digitalization basis company whole data is on
digitalization. Therefore, there's a need of to cyber security in the company that need to be
secured company should introduce in their company a general data protection regulation for the
security of the business.
Logistics and supply chain issue:- company examine the various aspects of technology and
procedure and recommendation for the efficiency of the company and the area where the
information technology has great impact in the organization (Pooja, 2020).
Future prospectus of IT Sectors
The firms have highly set up plans for the future. The future is uncertain, in order to grow
the sector, the perfect planning is needed. (Kolk and et.al., 2002). These deManagement
consulting referred to as business consultancy that advice and implement the task and services in
the organization with improving management and their strategy, and organizational performance
and process. Aim of the project is to explore and understand a part of the management consulting

industry. The project lead to understand the past, present, and future of the company. The main
areas of consulting are Strategy, Information Technology, Operations, Financial or Human
Resources. History of this area of consultancy, main activities carried out in organization. Area
develop in the future, new skills and capabilities will firm need in order to thrive in this area in
the future.partments are involved with the latest technology. A small variation in technologies
affects the firms in high manner. The firms had a plan for establishing in near future and that is,
increasing the web services by using different models of operating. The companies are going to
approach models and techniques that is consists of unique velocities and attributes.
Growth strategy has been decided by the companies in order to establish an effective
future of the company. The CEO's of the companies has made a commitment in terms of
establishing different web services by using different web languages. The major growth strategy
of the firm is exploring the business in more parts of the country. (eng, 2021). The organizations
providing its services to the different parts of the country. But, still the firms wants to explore its
business in more parts of the country. This is the strategy of the organization, that in every part
the business must show high rate of growth. And the complete satisfaction should be given to the
customers.
The firm has approached the GSG. It stands for the global strategy group. This group
focuses on the strategies that has been made by the companies in order to grow the business
more. The main elements that has been decided by IT sector under GSC are:
 The ways under which unmet revenues and profits can earn. The firms had thought of
using their retained earning in the start up of new projects through which the unmet
profits can be accomplished by the company. Along with this, the company is
approaching high investors for exploring their activities in near future.
 Company is monitoring the competitiveness in the market. The firm has a full belief in
the studying of the business environment. The association performs the complete
analysation of internal and external factors in terms of preparing the strategy.
 The internal factors of the companies are measured within a specific time period.
Therefore, it does not affect the growth status of the company. On the other hand, the
external factors take time in resolving. But, the company has appointed different groups
in order to look upon the different aspects that affecting the success status of the
company.

 Under GSG, the company has decided a strategy that is related to becoming more
commercialize and adding more innovation in their services. It has been found from
various studies that, the company has made their this commitment and added many new
innovations in their services. As a result, the customers are getting increase day by day
from all over the world.
 The best thing about the organization is that, they just not stops here, it further looking
upon to increase and adding more customers in the favour of the company. The firm has
loyal customers and the company has effective capability of sustaining their existing
customers. Along with this, the firm is observing the different ways through which more
customers can be added.
Recently, the association has put more focus on the proper study of consumer behaviour. This
step by the firm will provide them immense benefits in the future. The customers are the vital
element in the success of the organization. Already one of the IT association, KPMG in UK has
proved itself in front of the customers by full-filling their commitments. Now, the company is
further focusing on the complete analysation of the consumer behaviour. This will enables the
firm to understand about the different kind of factors that affects the choices of the consumers.
According to that, the organization will make their decisions. And this will results in full-filling
the expectations of the customers.
The firms have further plans of opening their more branches. The company is preparing the
planning regarding this. It will take time in terms of giving complete commitment towards this.
As this involves many meetings, discussions, plans. The companies want to show them perfectly
therefore, they are taking time. But they had always proven themselves efficient while
completing their commitments. Therefore, the customers has a complete belief and faith towards
them.
CONCLUSION
Consultancy industry is the diverse company in the market with full of professional
service to their clients. There is a wide spectrum of range found in the consultancy industry.
Main work of these industries is to determine the issue and problem facing by their clients

regarding the tax advisory or business ideas etc.., This report include the information about the
information technology consultancy industry and complete the question about company past,
present, and future that include the history about the industry that how company emerged and
developed. Future prospectus of the industry. The present that include the technology and the
competition and challenges that company faces now a days. Future indicates the where company
is going to position the company in long term or in future.

REFERENCES
Books and Journals
Bessen, J., 2017. Information technology and industry concentration.
O'Leary, D.E., 2019. Enterprise crowdsourcing innovation in the big 4 consulting firms. Journal
of Emerging Technologies in Accounting. 16(2). pp.99-118.
Petr, S., 2018. Strategic Management for a Consultancy Firm Competitiveness.
Pooja, M., 2020. Organisation Study On KPMG (Doctoral dissertation, CMR Institute of
Technology. Bangalore).
Burger, E.S., Mayer, D. and Bowal, P., 2007. KPMG and abusive tax shelters: Key ethical
implications for legal and accounting professionals. J. Legal Prof., 31, p.43.
Gallery, R., 1994. KPMG Peat Marwick Collection of American Craft: A Gift to the Renwick
Gallery.
Hurley, M. and Schaumann, F., 1997. KPMG survey: the IT outsourcing decision. Information
Management & Computer Security.
Kolk, A., and et.al., 2002. KPMG international survey of corporate sustainability reporting 2002.
Lei, D. and Slocum Jr, J.W., 1992. Global strategy, competence-building and strategic
alliances. California management review. 35(1). pp.81-97.
Peng, M.W., 2021. Global strategy. Cengage learning.
online
KPMG announces FY20 revenue of US$29.22 billion,2020.[Online]. Available through
<https://home.kpmg/xx/en/home/media/press-releases/2020/12/kpmg-announces-fy20-global-
revenues.html>