The Internet economy is worth $507 billion. This Internet explosion has numerous corporations seeking, at a record rate, consulting firms to help them plan and implement e-business strategies.

Consulting firms eager to cash in on the boom are quickly morphing themselves into "technically enlighted strategists." They are doing this to set themselves apart from the many boutique firms that have popped up in response to the e-commerce Web mania.

U.S. Internet consulting services are expected to top $710 million for 1999 and could grow to $4.38 billion in 2003. With all this cash at stake, the winner is the one who can establish themselves as the "expert." Andersen Consulting and PricewaterhouseCoopers are launching new e-commerce initiatives to do this.

The Big 5 firms will make e-commerce a core value in their organizations. Andersen is developing a 200-person core group to serve clients and to educate the firm's staff on Internet strategies. PwC slashed 1,000 jobs in their effort to ramp up to the e-commerce challenge.

Do you have a strategy in your firm?