Consulting can be defined as the practice of providing a third party with expertise on a matter in exchange for a fee. The service includes either advisory or implementation services. For the consultant, taking an independent and unbiased stance on a problem is central to his/her role. A consultant can, in principle, service any sector. Over the past few decades, however, the term has become synonymous with business advisory – which focuses mostly on business strategy, management, organization, operational processes and technology.

One key feature of the industry is the so-called ‘knowledge advantage’ that consultancy firms hold in relation to their clients. Consultancy firms are hired to assist their clients with a dilemma, for which specialist expertise or knowledge is required which is otherwise lacking on the clients’ end. Another feature is that consultancy firms form an independent party, which may give the clients an objective perspective on the problems that their organisation struggles with, and can offer them solutions toward the problem. Involving a consultancy firm can also, in some cases, be more cost effective than if an organization were to hire experts themselves. Furthermore, an organization often simply does not have sufficient capacity to manage its change portfolio, which can be done by hiring an external consultancy firm instead.

Singapore is a popular international business hub due to low corporate tax rates and its location as a gateway to Southeast Asia. Many well-known global firms have set up offices in Singapore, making it a magnet for some of the world’s best business consultants. The many consultants that Singapore is home to supply a spread of services to both companies and public sector organizations, helping them improve profitability and transform their operations for the better.

Professionals working within the consultancy industry are generally called ‘consultant’ or ‘advisor’. Often, specific titles are used referring to their knowledge of a certain advisory area or their respective sector of expertise (e.g. strategy consultant, healthcare consultant, procurement consultant, etc.) Consultants in Singapore can do just about anything a company needs to improve their business, navigate challenges, and position themselves well in a competitive market.

The consultants active within the industry are highly educated professionals. They have gained their experience in a particular field, or within a specific sector, after years of studying, training as well as by building work experience. From within their organisation, consultants are deemed to work with a professional demeanour, holding the right qualifications and capable of providing a high standard of service to clients