How Technical Consulting Company Can Support Business?
If you have heard a lot about technical consulting firms a lot lately but still not sure if you need one for your business or what exactly such companies do, this article will answer your questions. Starting from what is technical consulting to what problems it can solve and at what cost, here you can find everything you were interested in.
Are Technical Consulting Firms in a High Demand Nowadays?
If you need a precise technical consulting definition, it is professional technical assistance provided by a third party specialized in the technical area and business development. Such companies usually have a long experience in advising businesses on how to manage and develop their technical potential to meet their needs and improve their results. Technical software consulting implies IT assistance primarily with software development but also, may involve further assistance with a promotion of the released product.
If talk about short-term technical consulting services, usually companies need assistance with one problem or one field of work. It may include both an implementation of a new technology to reach business objectives and development of existing technical processes or software. Of course, such technical changes should lead to positive results, increased revenues, better productivity, or whatever the initial goal was. In this case, technical software consulting can be considered a successfully completed one, a client company gets required improvements, and the consulting firm receives another great case in its portfolio.
Nowadays, there are a lot of technical consulting companies because of the high demand of the market. Both giant enterprises and small businesses seek expert advice and help in the technology area. While big companies are usually more concerned in strategy planning and exact parts of software development, startups and small firms need complex technical assistance. Of course, the more experienced the technical consulting company is, the more clients it will be working with and the better reputation it will have among other similar firms.
Technical Consulting Market Overview
The general consulting industry traces origins in the 1900s when manufacturing companies embarked on a journey to look for ways to maximize profits and increase workers productivity. It is during this period that consulting businesses started mushrooming in the US to help companies address these issues and others. IT consulting businesses made debut 1980s, after the introduction of personal computers to the mass marketplace. Fast forward to today, the evolution and consequent growth of the Internet and social media have played a major role in the growth of the information technology consulting industry.
According to a report conducted by Consultancy UK, the global consulting market is estimated to be worth over $250 billion. Of this amount, about 20% of it comes from the IT consulting services market making it one of the largest sectors within the global consulting market. Over the last 10 years, this consulting segment has seen an annual with the Compounded Annual Growth Rate of 2.5%. With the emergence of large technological megatrends such as robotics, digitization, analytics, cloud, and the Internet of Things, this consultancy segment is forecasted to see significant growth, meaning the demand for high tech consulting isn’t slowing down anytime soon.
As reported by the US Department of Labor, more than 14.5 million people worked in the STEM (Science, Technology, Engineering, and Mathematics) industry in 2016. Among these industries, the technology industry had the highest number of service-oriented professionals reaching 14.7%.
Despite this being good news for tech support consultants, tech consultancy services consumers have had to deal with a number of few challenges. For instance, despite the general growth of the consultancy industry, the maturity of the market (or lack of it therein) is a major determinant of the percentage growth of a specific market.
A good example is the North American consulting market. Although it has been hailed as the most mature consulting market globally, Europe, Africa, and the Middle East have the largest market share taking up a 41% share of the entire consultancy economy. On the other hand, the annual income of the US consultancy market is close to $100 billion representing 40% of the total global consulting industry income.
The Reason why Companies Hire Tech Consulting Companies
There are multiple reasons why companies hire tech consulting firm/s. This includes:
To Get 24/7 Support
If you are wondering why businesses need a separate consulting firm to work things out, it is worth noting that both individual entrepreneurs and companies hire business assistants because of their experience in the market, diverse knowledge, and previous successful projects. There is no need to make the same mistakes that have been already made by previous businesses to succeed; instead, you can learn from those mistakes and grow your business without so many breakdowns. Also, a lot of companies are afraid of changes and challenges until they are well-prepared for it – thus, they seek professional guidance that will help them go through changes and technical upgrades taking the right road. What is more, such consulting firms can provide this guidance on an as-needed basis.
Another case is when a client company experiences a crisis. At this point, it can be challenging for business owners and top managers to see the situation from different points of view and find an optimal solution. An experienced consulting company is the best option for crisis management services, especially when it comes to technical development, both implementation and upgrade. A consulting firm can put the client company back on the right track based on its independent opinion and analysis or advice to try a new road or market.
To Bridge Skills Gap
While business owners may have working ideas, they often lack enough information and understanding of the area they would like to enter with the made-up product. If they just plan to establish a company, they lack twice more information and experience in the field. In this case, a technical consulting company comes in hand helping both with documentation and technical part. It is important to see and release the potential of the client company, so the idea becomes a successful product with all technology processes organized well thanks to the technical consulting services.
Save Cost on an In-house Team
Although usually, companies have a limited budget for employees’ salaries and outsourcing services, it is beneficial to cooperate with a technical consulting firm because you pay the biggest part for the initial consultation and then, you can refer to the consulting services only for specific tasks when you need. You don’t have to pay such consulting companies on a regular basis – just when you really require professional help.
Centralized Point of Contact
Tech companies rely on multiple software to streamline both their business and development processes. As such, it becomes extremely hard to know whom or which department to contact in case something goes wrong or isn’t working right. Moreover, it can be super-frustrating to hop from one call to another to follow up on whether an issue has been resolved.
By hiring a consultancy firm, you get to build an ongoing mutual relationship whereby you are offered regular support avoiding the back and forth between the organizational bureaucracy.
Access To Specialized Talent
Skilled IT professionals are some of the highest-paid professionals. If you are a small company starting out, chances are that the high salary will hurt your budget. However, by hiring
A tech support consultant or a firm, you also get specialists within the service providers’ payroll and their supplementary skills. Additionally, they also invest in new technology and they could help you with key among other things including:
- Cloud-based file storage
- Cloud-based email
- Big data warehousing
- Data protection
Increase your Security
More than ever, cyber attackers have been directing their hacking menace to small businesses. This problem is further magnified by the increased interconnectedness of systems making it easier for cyber attackers to gain unauthorized access to your systems and possibly compromising your data.
In the US alone, it is estimated that a cyber attack happens every 9 seconds. Worse still, 43% of all the global cyber-attacks in 2019 have been shown to target small businesses. By hiring a consultant, they are able to devise a data security plan, making it easier to thwart external threats.
A good technical consultant company will give you a platform or clear guidelines to streamline your processes. As a result, your team is able to effectively communicate, collaborate, and share info, improving their overall productivity.
Challenges when Hiring Tech Consulting Firms
One of the biggest challenges for any business is to control all processes, especially technical ones, and it is the technical consulting firm that assumes responsibility for redressing and organizing technical development of the company.
Other notable challenges include:
Intellectual Property Theft
Protecting your company’s IP is always important. The last thing you want is a consultant holding your software hostage or one that breaks ties without turning over important data or the login information. For this reason, it’s important that you address matters intellectual property with your service provider upfront.
Different Operational Methodologies
Knowing what your tech consultant’s mode of operation could be the difference between the success or failure of your project. Knowing their methodology could help you pinpoint problems and rectify them accordingly as opposed to working blindly.
Reluctance to Train In-house Teams
Another major challenge of hiring a consultant is the fact that some may be reluctant to train your in-house team once the project is done. You don’t want to hire a consultant/s that want to work for you forever without transferring some of the knowledge to your employees.
The aspect of knowledge transfer will help you save costs in the future in case you happen to have a project of a similar nature.
One of the biggest challenges for any businesses is to control all processes, especially technical ones, and it is the technical consulting firm that assumes responsibility for redressing and organizing technical development of the company.
What Technical Consulting Services Can Be Beneficial for Your Business?
As you can see, a technical consulting firm can cover a lot of business needs related to technology development. In short, the major technical consulting services can include the following:
All these tasks can be delegated to the chosen technical consulting firms that have a huge experience in developing clients’ needs and assisting them with pursuing their business values with technology help.
How to Choose a Reliable Technical Consulting Firm?
As software development is one of the most rapidly changing and evolving areas, it is challenging to find an outstanding technical consulting company. What is more, the IT area is highly competitive, and so the technical consulting firms are. Your goal is to eliminate quitters and rookies in technical consulting and find an expert company that can put its extensive technical consulting experience and professionalism for your company’s key needs.
Here is a list of recommendations on what to pay your attention to when choosing a technical consulting company:
- Word of mouth always works best: you can ask your friends or business partners to recommend you a technical consulting company they or their friends have worked with
- If you don’t have any friendly suggestions, search for feedback about reliable technical consulting firms in your area
- Choose 5-7 companies and read carefully their portfolios/information/reviews/testimonials
- Make sure to check out the company’s values, methods, vision to consider if it will fit your company’s needs
- Reach out to 2-3 chosen technical consulting companies to see how fast and professional their responses are, do they have customer support specialists, are they really familiar with specifics of your type of business
- If you are contacting international consulting services, you can check their English skills during these first conversations as well
- Ask for portfolio/links to the successful projects if there is no information in open access about it. You have a right to check their technical skills and resources before running into cooperation
- If the technical consulting firm fits your business needs and core values, discuss the cost and set time frames for the upcoming consulting services
We strongly recommend to clearly state and focus on the end goal of your request. It is not about the time spent by the technical consulting firm to analyze and help your company’s needs but the fruitful result of your cooperation and valuable insights developed during it. You can and you should assess the results based on the initial goal and the helpfulness of the delivered technical assistance.
What Are the Rates for Technical Software Consulting in the World?
- 0…5 years: up to $78,000
- 5+ years: up to $107,000
- 10+ years: up to $132,000
- 20+ years: $155,000 and more
But if we take a look at the rates of technical consulting services worldwide, it appears that the costs also differ from country to country:
- the US: $98,144
- the UK: £46,781 ($59,674)
- Canada: C$91,474 ($67,791)
- Switzerland: CHF 113,640 ($112,492)
- Germany: €62,860 ($70,261)
- Ukraine: $24,605
As you can see, technical consulting service rates vary significantly from one country to another. But it is worth saying that the highest cost doesn’t mean the greatest technical consulting skills. So, how to decide on the country of technical consulting help for your business?
Does It Mean That Ukrainian Technical Consulting Firm Is the Optimal One?
We do not insist on such statement but the question answers itself. While top technical consulting firms in US charge almost four times more than Ukrainian ones, you can’t know for sure that the services provided by American consulting firm will be better than others. However, when it comes to reviews, Ukrainian technical consulting firms can be proud of a lot of positive feedback from their clients. If you work with one of the top technical consulting firms from Ukraine, you can feel calm and relaxed about your business that is in good hands.
Does Mobilunity Provide Technical Consulting Services?
As you can see, a professional technical consulting company can support your business and significantly improve your revenues, reputation, and business results. Being one of the best technical consulting firms in the market, Mobilunity experts are eager to conduct a detailed analysis of your business and assist you with your struggles and questions regarding development processes and business strategy. You are welcome to fill the form on the website or leave us a message in chat and we will provide you with all the information on your matter.