The Top 5 Largest Business Consulting Firms in the World
As businesses face increasing competition, market fluctuations, and the need to be agile in the face of constant change, it’s no surprise that consulting firms play a vital role. These firms provide expert opinion, advice, and direction to businesses around the world on the best strategies for growth, capturing new markets, and maximizing profits. This blog presents the top 5 largest business consulting firms in the world.
1. Deloitte Consulting
Deloitte Consulting is the largest of all consulting firms, with a revenue of $19.9 billion in 2020. This global firm has over 300,000 employees, and its consulting practice comprises of about 30% of the Deloitte network. The firm offers a wide range of consulting services that include strategy, operations, technology, human capital, and risk advisory.
One of Deloitte’s notable projects is its partnership with McLaren Applied Technologies to launch a business and technology transformation consultancy, Fuel. This has helped the firm to expand its range of consulting services and provide businesses with a new set of solutions for data-driven transformation.
2. PwC Consulting
PwC Consulting is the second-largest consulting firm globally, with a revenue of $16.7 billion in 2020. This firm’s consulting practice has over 22,000 professionals in 150 countries, and it offers a range of consulting services that include strategy, operations, technology, and human resources.
One of PwC’s recent projects is the creation of the New Ventures group, an investment/trade group that works with start-ups and emerging companies, providing them with R&D support, marketing and distribution strategies that allow these businesses to achieve sustainable growth.
3. EY Consulting
EY Consulting is the third-largest consulting firm globally, with a revenue of $7.4 billion in 2020. This firm’s consulting practice has over 50,000 professionals in 140+ countries, and it offers a range of consulting services that include strategy, operations, and technology.
One of EY’s notable projects is the creation of the EY Blockchain Analyzer, which provides businesses with detailed insights necessary for them to assess the risks associated with cryptocurrency, smart contracts, ICO, and blockchain technology.
4. Accenture Consulting
Accenture Consulting is the fourth-largest consulting firm globally, with a revenue of $7.3 billion in 2020. This firm’s consulting practice involves over 80,000 professionals in 120 countries and offers a range of consulting services that include strategy, digital, technology, and operations.
One of Accenture’s noteworthy projects is the creation of Liquid Studios, which are rapid prototyping labs designed to help businesses to quickly experiment with emerging technologies like AI, blockchain, and IoT.
5. McKinsey & Company
McKinsey & Company is the fifth-largest consulting firm globally, with a revenue of $10 billion in 2019. This firm’s consulting practice involves over 17,000 professionals in 130 countries and offers a range of consulting services that include strategy, operations, marketing, and sales.
One of McKinsey’s remarkable projects is the creation of the McKinsey Design Thinking program. This program has helped businesses create customer-centered strategies that drive innovation, improve efficiency, and generate revenue.
Conclusion
In conclusion, the consulting industry plays a vital role in shaping the business world’s future. The top 5 largest consulting firms in the world provide state-of-the-art consulting services for businesses to optimize and improve their operations, seize emerging market opportunities immerse into digital and emerging technologies. Engaging with one of these firms can be beneficial to businesses developing programs that reduce cost, provide insights through various engagements, turn organizations to embrace new organizational models, and deliver measurable outcomes.
