Consulting analysts, also referred to as management or business consultants, work to improve an organization’s structure and efficiency, ultimately resulting in increased profits. Goals are accomplished as consulting analysts gather and process information, making recommendations based on the results rendered from their research.
Consulting analysts are problem solvers in the workplace. After obtaining a project or after being retained by a firm, management analysts first gather relevant data pertaining to the problem at hand. Data may include annual revenue reports, expenditures, employee records or internal organizational charts. Consulting analysts then interview managers and employees while observing the overall work flow within the office, making recommendations on behalf of the findings. Recommendations are often rendered from mathematical models that demonstrate improved work flow.
As consulting analysts develop a recommended course of action to improve processes in the workplace, they must also take into account the company’s organizational structure including hierarchy, culture and relationships maintained with other firms within the industry. These factors will determine the appropriate course of action based on the consultant’s recommendations.
After a consulting analyst has identified the problem, a course of action is determined. Case studies, meetings with upper management and market trends are all factors that go into a consultant’s recommendation. Ultimately, it is the consulting analyst’s goal to provide a recommendation that will improve processes, reduce costs and promote growth.
Recommendations are written in a detailed report and delivered to the client. Alternatively, consultants may deliver oral presentations to upper management delineating their findings. In some cases, consultants may also be retained to implement suggestions as provided in the report.
Because many consulting analysts are self-employed, additional responsibilities include invoicing, billing and other administrative tasks associated with managing accounts. When projects are completed, consultants must bill for hours worked, provide invoicing and work with the organization's accounts payable department to ensure collection of payment for services provided.
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