Consulting with Tech — the New Digital Era
By Tracy Cheng

The world has entered a new digital era in the recent decade. While you may have been aware of the rise of payment apps, online trading platforms, virtual banks, as well as all kinds of FinTech, the consulting industry is also undergoing a technology revolution that poses unprecedented challenges to all consultants.

Here comes a frequently asked question: how is the consulting industry transformed by digital technology?

In the past, clients were coming to consultants for issues including management, organizational structure, marketing and promotion, etc. where consultants are expected to take into account the organization’s resources and capability to formulate tailor-made solutions.

Cases are, however, not that ‘straightforward’ today. In the new era, clients are experiencing an increasing amount of tech issues in data collection and analytics, generation of insights from raw data, social media marketing, and even digitalized workflow within the organization. They do not want mere solutions or strategies. They are looking for ‘Strategic Technology’ — innovative solutions to utilize technology in company’s operations. It is the change in clients’ needs and objectives that prompt the transformation and digitalization of the consulting industry.

In light of the ongoing transformation, consultants are expected to learn, understand and leverage tech. It is of paramount importance for consultants to keep themselves updated with the latest technology developments and breakthroughs, as well as being critical of market changes and evolutions. Disruptions in the traditional consulting industry also explain the rise of ‘Technology Consulting’ — a consulting branch with remarkably extensive potentials for development in the Digital Era. A comprehensive ‘Tech Mindset Toolkit’ would certainly be a must for all consultants, not limited to Technology Consultants.
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['Student Voice', 'Consulting', 'Technology']