Eric Yeung’s Post

Knowledge Management (KM) is the secret sauce behind the success of big consulting firms like McKinsey, Bain, and Ernst & Young (EY). But what if smaller firms could use those same strategies to grow and deliver even better results? Here’s a quick breakdown of what makes KM valuable and how Flowpamine makes it accessible for consultants everywhere. What Is Knowledge Management? • Knowledge Management (KM) is about making useful information easy to find. • It helps teams work better together, make smarter decisions, and save time by avoiding repeated work. Why is Knowledge Management Important for HK Local Consulting Firms? • Saves Time: Consultants can find information faster, so they spend less time looking and more time solving problems. ⏱️ • Protects Knowledge: Even if someone leaves the company, their knowledge stays behind for others to use. 🦾 • Better Decisions: Having the right information leads to smarter choices. 🧠 KM Isn’t Just for Big Firms ⭐ Good KM is about working smarter, not harder. By learning from big firms and leveraging modern tools like Flowpamine, local consulting companies can stay competitive, deliver top-notch results, and grow their reputation. Ready to simplify your Knowledge Management? Explore how Flowpamine can help you save time, improve decisions makde, and scale your consulting business today. https://lnkd.in/gUz8vurM #KnowledgeManagement #ConsultingLife #SmallBusinessTips #FutureOfWork #ProfessionalDevelopment  #ProductivityAtWork #TechForBusiness

Latest Release: Harnessing the Power of Knowledge Management in Consulting Firms Featuring Top KMI Blogger, Ekta S.. https://lnkd.in/e9_DTDwS In consulting firms, institutional knowledge is one of the most valuable assets and Knowledge Management (KM) plays a central role in ensuring that both tacit knowledge (the know-how and insights that reside in the minds of the consultants and SMEs) and explicit knowledge (documented knowledge such as reports, case studies, and data) are accessible and actionable... #knowledgemanagement #km #kmers #knowledgesharing #knowledgetransfer #informationmanagement #contentmanagement

❗ Spotlight: Forbes 2024 World’s Best Management Consulting Firms Forbes has released its annual list of the World’s Best Management Consulting Firms for 2024, highlighting those at the forefront of helping companies navigate complex challenges. The ranking, developed in collaboration with Statista, is based on surveys of 8,500 consultants and clients across 29 countries, focusing on 13 industries and 14 functional areas. Key Highlights: 🔹 Accenture leads the list this year, with 26 five-star ratings and one four-star rating, excelling in digital transformation and AI integration. Muqsit Ashraf, from Accenture Strategy, emphasizes the importance of building a digital core and embedding responsible AI principles to stay ahead. 🔹 McKinsey & Company follows closely, with 24 five-star ratings and three four-star ratings, maintaining a strong reputation in strategy consulting. 🔹 Boston Consulting Group (BCG), ranked among the top for the third consecutive year, emphasizes working collaboratively with clients to drive large-scale change, particularly in post-pandemic business transformations. As Alicia Pittman from BCG mentions, companies emerging from challenging times are seeking transformative change, and the right consulting partners are key to accelerating success. 🔹 Deloitte continues to perform well, earning 25 five-star ratings and two four-star ratings, showcasing expertise across various sectors and functions. 🔹 Other top-performing firms include Bain & Company, KPMG, PwC, and EY, all earning recognition across all 27 evaluated categories. 🔹 The list includes a total of 224 management consulting firms and nine consulting networks. These networks, such as Malt, are gaining prominence by connecting companies with independent consultants who offer specialized expertise. 🔹 A significant trend highlighted is the consulting industry’s shift towards sustainability and reducing carbon footprints, with many firms adopting remote and hybrid work models. For businesses seeking to innovate and transform, these consulting firms and networks are invaluable resources.

❗ Spotlight: Forbes 2024 World’s Best Management Consulting Firms Forbes has released its annual list of the World’s Best Management Consulting Firms for 2024, highlighting those at the forefront of helping companies navigate complex challenges. The ranking, developed in collaboration with Statista, is based on surveys of 8,500 consultants and clients across 29 countries, focusing on 13 industries and 14 functional areas. Key Highlights: 🔹 Accenture leads the list this year, with 26 five-star ratings and one four-star rating, excelling in digital transformation and AI integration. Muqsit Ashraf, from Accenture Strategy, emphasizes the importance of building a digital core and embedding responsible AI principles to stay ahead. 🔹 McKinsey & Company follows closely, with 24 five-star ratings and three four-star ratings, maintaining a strong reputation in strategy consulting. 🔹 Boston Consulting Group (BCG), ranked among the top for the third consecutive year, emphasizes working collaboratively with clients to drive large-scale change, particularly in post-pandemic business transformations. As Alicia Pittman from BCG mentions, companies emerging from challenging times are seeking transformative change, and the right consulting partners are key to accelerating success. 🔹 Deloitte continues to perform well, earning 25 five-star ratings and two four-star ratings, showcasing expertise across various sectors and functions. 🔹 Other top-performing firms include Bain & Company, KPMG, PwC, and EY, all earning recognition across all 27 evaluated categories. 🔹 The list includes a total of 224 management consulting firms and nine consulting networks. These networks, such as Malt, are gaining prominence by connecting companies with independent consultants who offer specialized expertise. 🔹 A significant trend highlighted is the consulting industry’s shift towards sustainability and reducing carbon footprints, with many firms adopting remote and hybrid work models. For businesses seeking to innovate and transform, these consulting firms and networks are invaluable resources. To explore the complete list of the World’s Best Management Consulting Firms 2024, check out the full article on Forbes. #ManagementConsulting #Forbes #BusinessTransformation #AI #Sustainability

Why the Future of Consulting is Shifting 🔄 As traditional consulting firms continue to excel in many areas, Malt is rapidly gaining importance by offering a new, more flexible model for businesses. Unlike conventional firms, Malt connects companies directly with independent consultants who bring specialized expertise, agility, and innovation to the table. This on-demand approach not only provides businesses with access to top-tier talent but also allows for more tailored solutions and faster turnaround times. In a world where digital transformation, sustainability, and remote work are becoming the norm, Malt’s decentralized, network-based model offers a scalable and cost-effective way for companies to adapt and thrive. By leveraging niche expertise and a flexible workforce, businesses can achieve more agile transformations that meet their specific needs. The rise of Malt underscores a significant shift in the consulting landscape – one where independence, flexibility, and specialization are becoming as important as reputation and scale.

The impact on how technology has evolved from an enabler to a key pillar shaping corporate #strategy is evident when you see Accenture taking the top place on list of Management Consulting firms by Forbes - #technology #genai #digital #digitaltransfirmation

Harnessing the Power of Knowledge Management in Consulting Firms

What's happening in the Dutch consulting industry? “Across the board, 2023 was a challenging year for consultancies, characterised by slower growth. Yet the market is highly diversified, with certain sectors experiencing strong demand, whereas others have encountered significant challenges. We will be looking into differences in demand and growth, and single out the ‘hot sectors’ for the period ahead” https://lnkd.in/g8wrgazJ

223 management consulting firms and nine consulting networks made Forbes' third annual "World’s Best Management Consulting Firms 2024" list, created in partnership with market research firm Statista, from a survey of 8,500 consulting firms and networks. This year, Accenture led that pack—bumping McKinsey & Company from the head of the list—with Accenture receiving 26 5-star ratings and one 4-star rating, while McKinsey received 24 5-star ratings and three 4-star ratings. For the second year in a row, Deloitte earned 25 5-star ratings and two 4-star ratings. The other five firms that received stars in all 27 categories (specifically, 4- and 5-star ratings) were Boston Consulting Group (BCG), Bain & Company, KPMG, PricewaterhouseCoopers (PwC) and EY. Businesses have been turning to management consultants for help increasingly over the last several years, with the global consulting industry’s market size—valued at $343.47 billion in 2022—expected to grow at a 7.56% compounded annual rate to reach $494.57 billion by 2027, according to research platform GlobalData Intelligence Center. One of the top priorities for clients across every industry this year, says Muqsit Ashraf, group chief executive of Accenture Strategy, is to reinvent their organization’s generative AI, “impacting everyone from the C-suite to frontline workers.” #managementconsulting #consulting #forbes

Last year I wrote a blog post about shaking up the traditional consulting model and have since had lots of conversation on the topic. We've re-visited this thinking a year on and expanded on some of the points with a little more detail. Would love to hear others' thoughts, challenges and ideas on this! #consulting #outcomes #outsourcing Stellafai 🚀