Consulting Firms Compete with Big Fives for Dot.com Business
What does this mean for competition? There isn't a doubt in anyone's mind that staff working for the two firms offer their own spin to e-commerce activities and hold the knowledge so that clients may succeed long term.
However, experts predict that 'brand' is everything on the already-crowded playing field. In brief, experts say that McKinsey and Bain, while solid consulting practices, do not hold the brand-name confidence as Big 5 firms.
This is good news for the accounting and consulting profession, but can the Big 5 maintain their position?
Grady Means, PricewaterhouseCoopers' global leader of the firm's Strategy Consulting Group, said the combination of his firm's size (35,000 consultants)and in-house tech building abilities will continue to benefit the company.
"A McKinsey or a Bain can figure out the strategy issues," Means said. "They are very smart at that. But they cannot do the implementation of technology design, through resourcing, through management. We can do that. This requires a very big scale."
Voice of the Editor
Which isn’t completely true. I mean, occasionally I drop by when I manage to sneak out of the nonstop frat party over at Going Concern, but I’m mostly a wallflower over there. I’m happy to say that I’ve been given express permission (or explicit orders, if you like) to wander over here to AccountingWEB more often.
Why is that, you might ask? My job is to replace the irreplaceable Gail Perry as Editor-in-Chief. What does that mean? I don’t really know! I think it’ll be fun getting a feel for things, throwing in my own thoughts here and there, and listening to the discussions you’re having about the accounting profession.