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A Yunit Consulting study reveals that 80% of companies value the use of Artificial Intelligence by consulting firms, while 75.2% of decision-makers consider the sector's offering to be poorly differentiated. Trust in the team and proven results continue to carry more weight than price when choosing a consultancy, particularly among large companies.
Technology is transforming companies' expectations of management consultancy, but innovation alone does not determine the choice of partner. Trust in the team, experience and the ability to demonstrate results remain central factors in the decision to engage a consultancy, in a market where differentiation represents a challenge for consulting firms.
These are some of the main findings of the study The Consulting Market, conducted by Multidados for Yunit Consulting, based on 300 surveys of senior executives and decision-makers in Portugal. The study analysed the criteria used to select consulting firms, companies' priorities and expectations regarding the sector's evolution.
The technology used by a consultancy is among the least frequently cited factors in the selection process, mentioned by just 14.8% of decision-makers. However, its importance increases with the size of the organisation: it is cited by 34.1% of medium-sized companies and 43.8% of large companies, compared with 7.6% of micro-enterprises and 10.8% of small companies.
This trend reflects the growing importance of Artificial Intelligence: eight out of ten companies consider it relevant for consultancies to use this technology in delivering their services, a figure that reaches 93.8% among large companies. These findings show that company size directly influences the importance attributed to innovation and technological maturity.
According to the study's findings, price is not everything, at least when it comes to large companies. Trust in the team is the most valued factor when choosing a consultancy, cited by 61.1% of decision-makers, followed by proven results, at 57.4%, and industry experience, at 51.9%. Price ranks only seventh, mentioned by 33.3%. However, its importance varies substantially according to company size, being a relevant factor for 44.8% of micro-enterprises but for only 12.5% of the large organisations surveyed.
“The data suggest that larger companies tend to place less weight on price as a standalone criterion and greater importance on factors such as experience, technical knowledge and results. This is also an important consideration for smaller companies looking to grow, because choosing specialised partners can have a significant impact on the quality of decisions and the ability to achieve that growth,” says Andreia Jotta, Business Development Director at Yunit Consulting.
The findings also show that companies are looking for consultancies capable of combining technical expertise and innovation with trusted relationships and tangible business results. Artificial Intelligence represents a growing expectation, but its value to clients will depend on how it helps improve the services provided and generates a tangible impact on their businesses.
One of the study's most striking findings is the perception that consulting firms are similar: around 75.2% of decision-makers consider companies in the sector to be broadly similar or insufficiently differentiated from one another. Within this sample, 45.2% identify some differences but consider the offerings broadly similar in essence, while 30% describe consultancies as very similar. Only 15.2% consider companies in the sector to be clearly different from one another.
This perception places differentiation at the centre of the challenges facing management consultancy. In a context where services are seen as similar, presenting areas of expertise and service offerings is not enough to demonstrate a consultancy's value.
The ability to demonstrate the impact of the work delivered therefore becomes decisive: from identifying investment opportunities and reducing risks to improving efficiency and achieving growth objectives.
The way companies want to work with consultancies reinforces the importance of trust and continuity. More than half of decision-makers (55.2%) prefer an ongoing relationship. By contrast, 25.9% favour occasional support, while 14.1% turn to consultancy services exclusively when they need technical assistance.
The preference for long-term relationships is particularly evident among large companies: half of the decision-makers in this segment seek a trusted, recurring partner, while the other half look for a long-term strategic partner. Among micro-enterprises, occasional support is more common, cited by 34.5%.
These findings suggest there is room for an approach to consultancy that goes beyond addressing isolated needs. An ongoing understanding of the business makes it possible to anticipate challenges, identify new opportunities and coordinate different areas of support according to each client's objectives.
The use of consultancy services remains strongly associated with access to incentives and funding. Among the decision-makers surveyed, 65% report that the companies they represent have already used consultancy services to access incentives or European funds. Tax benefits follow, mentioned by 50.3%, and innovation and research and development, at 46.3%.
The use of a broader range of services is more common among large organisations: 81.3% report having used consultancy services for incentives or European funds, 75% for corporate finance operations, 68.8% for sustainability and ESG, tax benefits, and innovation and R&D, and 56.3% for internationalisation support.
On the other hand, 13.2% of micro-enterprises have never used consultancy services in the areas analysed. In this segment, a lack of awareness of the services available is the most frequently cited reason (30%), followed by high costs or the perception of unclear returns (23.3%).
These figures highlight the need to raise awareness across the business community of the range of consultancy services available and the tangible returns they can generate.
Decision-makers' priorities for the next two to three years help identify where new opportunities may emerge for the sector. Increasing domestic sales is companies' main objective (25.2%), followed by exporting to new markets (15.9%) and investing in new technologies, digitalisation and automation (15.2%). In terms of productivity, decision-makers highlight digitalisation, automation and robotics (28.9%), process reorganisation and operational efficiency (23%), and the use of Artificial Intelligence (15.2%) as measures to improve organisational performance.
These objectives represent an opportunity to align consultancies' value propositions more closely with companies' specific challenges. Differentiation will depend on the ability to connect specialised knowledge, technology and close client relationships with a measurable impact on clients' businesses.
“When three out of four decision-makers consider consultancies to be broadly similar, listing services is no longer enough. Differentiation must be demonstrated through the impact and added value we can generate for clients: what has changed in the company, which risk has been reduced, which opportunity has been created and which result has been achieved. Technology is now expected, but it does not replace trust and, in a market perceived as offering similar services, differentiation depends on proving value,” concludes Andreia Jotta.
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