Vietnam consulting market likely to grow rapidly

In the integration process, enterprises have a chance to access the world. They are willing to invest more to get greater results, considering consultancy services fees as an investment in strategy and management. Looking at the rapid development of consultancy in developing countries, and the increased efficiency from the use of consultancy services of Vietnam enterprises, it can be seen that consultancy services will grow rapidly in the near future in Vietnam.

The consultancy market is increasingly open, particularly in Vietnam, with a large number of businesses in the start-up phase. This creates a great opportunity for consultancy, as businesses are “overloaded” in work, need to quickly develop, extend to international markets, and restructure everything from human scale to skills, tactics and business strategy. Just in the field of strategic consulting and business management, a well-known new company, Win-Win Consulting and Strategies Support Co.Ltd, advises more than 200 businesses a year. That is to say, demand for business consulting is huge. This is fertile ground for the development of consulting services.

According toa recent surveyby this company, 80 percent of the enterprises wantedanobjective businessperspectivefrom experienced people; 73 percent said thatthe combination ofexpertiseand enterprises willbring better results of performance, and40 percent used consulting services to better focus their timeandenergy on theimportant workto creategreaterresults. A good strategycancreate valuehundreds of times the consulting service fee. Amodel ofgoodmanagementand controlcanhelpsmoothbusinessoperationsandstrategiesoutlinedto minimizecostswithoutcreatingvalue, building cultural identity and raising staffcapacity.

However, many businesses worry about consultancy service, doubting the success of the rather new service in Vietnam. 79 percent of enterprises surveyed said that the cost of consultancy services was high, 55 percent did not believe in the quality of counselling services, 13 percent said that they had good staff and did not use consulting services.

To develop in the right direction, companies need experienced business consultants, while in Vietnam the current number of professional advisors is not high. A successful consultant not only has working experience in senior positions in large, multinational companies, the most important thing is that consultants must have a special vision; the ability to recognize and solve problems in any situation.

A professional consulting firm has to create the “glue” to connect these special people together and work toward the same goal: to help business grow faster, more sustainably. Clearly, these conditions cannot be satisfied overnight; consultancy businesses must have preparation for at least 5 years.

A successful consultancy programrequiresbothsides: determinationofbusinesses to excel, and the capacity ofconsultants. Collectionof value addedis expressedinall 3phases: short,mediumand long term. The best consultingis when business andconsultantswork together. If the consultanthas a heart,talentandworks with the core team of the business, itis certain that he willcreateamuch betterresultthanthatthe enterprise does itself. – VCCI

Tags: Vietnam consulting market