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Management Consulting & Business Advisory Services, Including Knowledge Management
South Africa’s management consulting and business advisory industry has been under growing pressure since 2017. The industry has been rocked by revelations that numerous consulting firms, including several global market leaders, have facilitated and/or been complicit in irregular activities and misdeeds, including fraud, state capture and corruption. Revelations that consultants from several multinational firms were found to be complicit have rocked the industry. The consequences of these developments, consulting expenditure cutbacks and economic conditions have affected the traditionally lucrative industry. Some role players say that knowledge management is increasingly being regarded as a potential game-changer with the advent of the fourth industrial revolution and the internet of everything.
National Treasury has issued directives to government departments and state-owned entities to reduce their reliance on the use of consultants, a practice which was previously widespread. At the same time, conventional consulting has been fundamentally changed by technology-driven disruption, requiring firms to incorporate digital tools to remain competitive. Technological advances also present various opportunities to the sector.
The report on Management Consulting and Business Advisory Services describes the industry, recent developments and the factors influencing the sector’s performance. It includes comprehensive profiles of 46 firms including multinational firms operating in South Africa such as McKinsey and Bain, both of which were implicated in state capture revelations. It includes profiles on the major auditing and advisory firms such as Deloitte, PwC, EY and KPMG and specialist firms such as Hoorah Digital. Profiled companies that specialise in knowledge management include Knowlead Consulting & Training, IQbusiness and Pinoak Consulting.