The “growth at any cost” conventional wisdom has created phenomenal opportunities for investors and business people across the globe. When the most recent bubble burst in 2008, businesses went through dramatic cost cutting which utilized billions of dollars, spent mostly on technology, ERP and other accounting and financial systems. This allowed businesses to dramatically optimize internal operations and drive earnings despite little top-line growth.
The era of internal optimization and cost cutting is quickly reaching a standstill, causing growth to come to a virtual halt and creating significant concern and volatility in global markets. Conditions are now perfect to focus on the restructure of INDUSTRIES – not just businesses – to drive out massive amounts of redundancy and waste, and provide quarterly cash yields and dividends to investors.
In order to fully exploit and leverage this strategic trans-industry opportunity, IT Capital is currently deploying electronic markets or e-marketplaces in nine different industries from road freight… to private jets… to consulting.
itCONSULTmp, the e-marketplace for the consulting industry, will eliminate the inherent inefficiencies and wasted management focus currently generated by administration of business processes that produce little or no value for a firm’s clients. With itCONSULTmp, partners, managers and consultants can redirect the time and talent of valuable and highly compensated human and organizational resources towards the delivery of those core competencies which separate them from the competition.
The “business” side of consulting is characterized by the inefficient administration and poor utilization of human resources. Expensive and highly trained talent are often misused and burned out by inadequate support systems and practices. In addition the lack of alignment between the conclusion of one consulting assignment and the beginning of another, results in excess capacity and un-billable time for each consultant per year. Our research indicates a ~15% underutilization on billable hours, amounting to 38 days of un-worked time per consultant per year, approximately $18.4B a year. itCONSULTmp enables the complex matching of consultants’ capabilities and availability with proposals and contracts, and connects project management, billing and invoicing in real time. As a result, excess capacity and waste are drastically reduced, billable hours increase and staff utilization and retention are dramatically improved.