Types of consulting
Management
It is also called general consulting, as its purpose is to provide a global business overview to identify and eliminate problems/deficiencies/vulnerabilities, as well as to optimize the company’s overall performance and assess the potential for its further growth. Management consulting is often a large-scale SWOT analysis that allows you to get information about all relevant business processes and make effective decisions to improve them. It may include certain specific areas of consulting services: financial, HR, legal, marketing, etc.
This is a very popular type of consulting, which refers to specialized consulting services. Any entrepreneur or company has to deal with a number of legal issues in the course of its activities, and as the business grows, the number of such issues increases. At the same time, it is not always possible to solve this problem by hiring an in-house lawyer; sometimes it is more effective to seek help from a consulting company. Legal consulting services for business will help organize documents and make cooperation with contractors more transparent.
Financial
Financial consulting is a popular type of consulting service in which experts help entrepreneurs create a reliable and efficient financial management system. It consists of such activities as analyzing and auditing the company’s financial condition, advising on budget planning, organizing financial documentation, etc.
Accounting
A common subtype of financial consulting, which includes advice on the formation of an accounting system, assistance in preparing accounting and tax reports, keeping records in automated information systems, support for tax audits, etc. In addition, accounting consulting specialists provide assistance in setting up and restoring accounting, advise on taxation issues (calculation of taxes, valuation of transactions, etc.). They also analyze and adjust tax reports, provide clarifications on regulatory documents and disputed situations in the field of accounting and taxation.
HR consulting
HR consulting is another popular area of services offered by consulting companies. Experts analyze the company’s corporate culture, search and select candidates for open positions, advise management, and conduct training and motivational workshops for staff. HR consulting can also include certification of HR managers and other specialists, HR accounting and audit, analysis of HR policies and document flow, implementation of methods to increase employee productivity, etc.
IT consulting
IT consulting is becoming an increasingly popular type of consulting service. It helps companies to implement and use information technology to optimize business processes. During this service, experts provide recommendations on the creation, implementation and development of internal corporate IT systems. In some cases, they also develop such complexes from scratch or offer ready-made solutions based on current goals, objectives, problems, and business specialization. These include customer relationship management systems (CRM), enterprise resource planning systems (ERP), collaboration software (Groupware systems), network information systems (NIS systems), and much more. In addition, IT consulting includes IT audit: a set of measures to assess the level of automation of business processes in a company.
Investment
Another important area of business consulting is investment consulting. Specialists of consulting companies help businesses choose the most profitable and low-risk options for investing capital. On the other hand, they can also suggest effective ways to attract investment. Investment consulting services include not only the search and attraction of investors and investment options. In addition, experts in this field help clients develop investment projects, act as intermediaries in dealing with credit institutions and insurance companies, and provide legal advice.