Forbes, a global media company, and Statista, a market research firm, have ranked eight firms as the world’s best management consulting firms.
They are Accenture, McKinsey & Company, Deloitte, Boston Consulting Group (BCG), Bain & Company, KPMG, PwC and Ernst & Young (EY).
The firms were ranked based on three national surveys of consultants and clients in the US, the United Kingdom, and Germany. The global survey comprised 8,500 consultants and clients in 29 countries across all continents.
According to the survey, respondents were asked which consulting firms they would recommend. Each firm was eligible if they had active offices in at least three regions such as Africa, Asia, Australia and Oceania, Europe, the Middle East, North America, and South America.
The firms were recommended within 13 industries like technology, financial services, and healthcare and 14 functional areas like M&A, marketing, and sustainability.
However, those with the most recommendations were included and awarded a star rating.
“Firms in the top 10 percent received 5 stars, firms between the top 10 percent and 40 percent received 4 stars, and all others with sufficient recommendations received 3 stars,” the survey report said.
In addition to the consulting firms, survey respondents were also able to recommend consulting networks, which aggregate large numbers of independent consultants and facilitate their connection with potential clients.
Read also: Big Four accounting firms to separate auditing from consulting in industry shakeup
Further details on the companies
Accenture
Accenture is a management consulting, technology, and outsourcing company headquartered in Dublin, Ireland.
It is the first on the list with 5-star ratings which appeared 26 times and one 4-star rating.
It operates through communications, media, and technology; financial services; health and public services; products; resources; and others.
The company’s services include helping clients capture new growth by shifting to data-driven and platform-based models, optimising their cost structures, increasing product and business model innovation, and differentiating and scaling digital experiences for their customers.
McKinsey & Company
McKinsey & Company, another management consulting company headquartered in New York, USA received 24 5-star ratings and three 4-star ratings.
It has been providing strategic advice to corporations and other organisations since 1926, when James O. McKinsey, a University of Chicago professor, opened a consulting office in Chicago.
The company played an active part in Nigeria’s growth story since 2002, combining bold strategies and transformative technologies to help organisations accelerate sustainable growth.
McKinsey opened its first international office in London in 1959 and has expanded steadily since. It now has over 100 offices in over 50 countries including Nigeria, making it the biggest consulting firm in the world.
Deloitte
Deloitte is an audit, consulting, advisory, and tax services firm headquartered in London, United Kingdom.
It refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee (“DTTL”), its network of member firms, and their related entities. DTTL and each of its member firms are legally separate and independent entities.
It is a large professional services network operating in Nigeria and 20 other countries. It earned 25 5-star ratings and two 4-star ratings.
BCG
BCG is a management consulting firm founded in 1963 and headquartered in Boston, Massachusetts.
It helps corporations and other organisations innovate and achieve sustainable competitive advantage.
It received stars in all 27 categories specifically, 4-star and 5-star ratings.
Bain & Company
Bain & Company’s consultants provide management advice from 64 offices in 39 countries including Nigeria.
It was founded in 1973 in Boston and has evolved into one of the big three management consulting firms, along with McKinsey and Boston Consulting Group.
Many of Bain’s alumni have prominence in other careers, including Mitt Romney, who founded the private equity firm Bain Capital and is a US Senator for Utah.
It received stars in all 27 categories specifically, 4-star and 5-star ratings.
KPMG
KPMG is the US member firm of KPMG International. It is headquartered in Amstelveen, Netherlands with more than 100,000 people worldwide.
KPMG member firms provide assurance, tax and legal, financial advisory, and consulting services from more than 750 cities in 152 countries including Nigeria.
It received stars in all 27 categories specifically, 4-star and 5-star ratings.
PwC
PwC is a global network of firms delivering assurance, tax, and consulting services for businesses. It is headquartered in London, United Kingdom, and also operates in Lagos, Nigeria.
It received stars in all 27 categories specifically, 4-star and 5-star ratings.
Ernst & Young (EY)
Ernst & Young provides audit, consulting, tax, business risk, technology and security risk services, and human capital services worldwide.
The company, one of the Big Four accounting firms, dates back to the early twentieth century.
Scotsman Arthur Young and American Alwin Ernst founded their separate companies in 1906 and 1903 but merged in 1989.
The company employs over 400,000 people and operates in over 150 countries. It received stars in all 27 categories specifically, 4-star and 5-star ratings.
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