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Management Consulting Firms. What is the difference between Boutiques Like Ovesto and large players like McKinsey, Bain, Deloitte, BCG etc.?

It seems like everyone these days is in management consulting – Tampa is no different. There are strategy consultants, business consultants, technology consultants, IT consultants, marketing consultants, so called experts in Private Equity, the list goes on and on.

It’s a catch-all title for someone who gets paid to give their advice on particular subjects to companies.

In this blog, we’ll attempt to answer 2 big questions:

-Who are management consultants? -McKinsey, Accenture, BCG, Booz & Co, Accenture, Ovesto…what’s the difference between different management consulting firms

Who are management consultants?

Management consultants help businesses improve their performance and grow by solving significant problems, assisting with organizational turn around, private equity financing, Mergers/Acquisitions, marketing consulting and finding new and better ways of doing things. It’s not just in the private sector either – many firms work with public sector organizations to help develop their services and, where necessary, reduce costs and make savings.

McKinsey, Accenture, BCG, Deloitte, Ovesto…what’s the difference between different management consulting firms? Are all these consulting companies based in Tampa?

The consulting industry can be segmented accordingly:

1) Management consulting firms (e.g. McKinsey, Bain, BCG – Booz & Co) 2) One-stop-shop and technology-focused consulting firms (e.g. Accenture, Deloitte) 3) Smaller more focused consulting firms (e.g. Ovesto) 4) Independent consultants

Management Consulting or “strategy” firms are all probably more similar than they would like you to believe.  They compete in the same industry, for the same business, and for the same talent.  Pay is similar and the end cost is expensive.  The end product and approach is relatively similar.  While some clients regularly use one firm, most clients are regularly switching between firms (and between non MBB firms at a lower price point) on a project-by-project basis. None of these firms, is a consulting firm based in Tampa.

One-stop-shop consultancies are very large and offer services that range from strategy to finance to Information Technology to Business Intelligence. Their advantage is in the size of their practice but the weakness tends to be that the engagements are primarily staffed with unexperienced new college graduates without a depth of either industry or specialized skills.

Ovesto is different. Based in Tampa, we are a management consulting and consulting company that applies the best tools and methodologies of larger consultancies in the nimble environment—and with the personalized attention—of a smaller firm. Our mission is clear. We go deep to unlock insight and have the courage to act. We bring the right people together to challenge established thinking and drive transformation. We work with our clients to build the capabilities that enable organizations to achieve sustainable advantage. The quality of our people is the cornerstone of our ability to serve our clients. We have extensive experience that obtained from industry experience in private equity, business intelligence, marketing consulting, Information Technology consulting, digital and corporate turn-arounds.

Summary

Small or Niche consulting companies can provide you with a strong alternative to the large management consultant or one-stop-shops. Through specialization, these firms can help you achieve an elegantly innovative solution that can realistically be implemented. The expert consultants found at smaller consulting firms know their industries and can tap into that experience to efficiently produce valuable outcomes.

Smaller or Niche/regional based management consulting firms like Ovesto are different and offer organizations highly specialized advice that addresses specific problems or aspects of a business or that provide services to specific types of businesses. The goal is to improve each client company’s efficiency and profits. The word “boutique” typically refers to a small shop or business, but in some cases, the term has more to do with the consulting firms’ focus than with its actual size. One such firm might consist of only a single adviser, and another might have 200 or more consultants working for it. Unlike major consulting firms, however, even the larger boutique firms are very specialized rather than offering general consulting services

For more information about Ovesto Consulting or any questions related to consulting, private equity and our core competencies, contact us at info@ovesto.com

2 comments

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