what is consultancy services

Consultancy services refer to professional services provided by consulting firms or consultants who offer expertise and specialized labor for a fee. Consulting firms are comprised of industry-specific experts who offer professional advice, guidance, and actionable solutions to businesses experiencing issues they can’t deal with in-house. The services provided by consulting firms can involve either advisory or implementation services, and consultants can service any sector. The main features of consultancy services include offering independent and unbiased advice, providing implementation support, and facilitating learning by including members of the organization in the assignments processes. The consulting industry traces back to the late nineteenth century, with the founding of the world’s first modern consulting organizations, also known as business advisory firms. There are different types of consulting services, including strategy consulting, financial consulting, engineering consulting, and more.