The­re are several methods of pro­duct IT con­sul­ting, by app­ly­ing which the con­sul­tants will collect and ana­ly­ze data on your company’s ope­ra­ti­on, and advice on the best ways to impro­ve your busi­ness performance.

  1. Benchmarking

This is a method whe­re IT con­sul­tants will com­pa­re the metrics of your com­pa­ny with the metrics of your com­pe­ti­tors. This will equip the con­sul­tants with necessa­ry infor­ma­ti­on on why your com­pe­ti­tor is doing well in cer­tain aspects. Based on the collec­ted data, it will be easy for the con­sul­tants to advice you on are­as whe­re you need to impro­ve, so that your com­pa­ny will suc­ceed. Com­mon metrics which can be used in bench­mar­king inclu­de: pro­duc­tion cos­ts, pro­cess cycle time, reve­nues and employee turnover.

  1. Balan­ced scorecard

This implies tracking important aspects in a com­pa­ny as a way of faci­li­ta­ting orga­niz­a­tio­nal impro­ve­ment. The indi­ca­tors mea­su­red are bey­ond finan­cial metrics. After asses­sing the important metrics in a com­pa­ny, con­sul­tants are able to come up with recom­men­da­ti­ons which are aimed at impro­ving the per­for­mance of a com­pa­ny. Some of the com­pon­ents tra­cked inclu­de: ear­nings, reve­nues, mar­ket share, employee mora­le, qua­li­ty and cus­to­mer satis­fac­tion metrics.

  1. Porter’s five forces

This is an IT con­sul­ting method deve­lo­ped by Micha­el E Por­ter. The method uses five for­ces in an indus­try to come up with effec­ti­ve solu­ti­ons. The five for­ces include:
• Com­pe­ti­tor rivalry
• The thre­at of sub­sti­tu­te offerings
• The bar­gai­ning power of suppliers
• The bar­gai­ning power of buyers
• The thre­at of new entrants

The five for­ces are asses­sed to iden­ti­fy ways in which they affect an orga­niz­a­ti­on. Adjus­t­ments can be made in the orga­niz­a­ti­on set­up to come up with an action plan, which will make it easy to impro­ve busi­ness operation.

  1. The GE-McK­in­sey Nine-Box Matrix

This is a method which was deve­lo­ped by McK­in­sey and Com­pa­ny in the 1970s. It is a matrix which is used to prio­ri­ti­ze invest­ment in dif­fe­rent busi­ness units. It can be used to assess dif­fe­rent types of com­pa­nies. In the matrix, oppor­tu­nities are cate­go­ri­zed in dif­fe­rent cate­go­ries, such as high, medi­um or low.

  1. The BCG Growth-Share Matrix

The matrix was deve­lo­ped by Bos­ton Con­sul­ting Group. It is a method which is used to assess rela­ti­ve strength of pro­duct lines in dif­fe­rent port­fo­li­os. In this method, pro­duct lines can be assi­gned in qua­drants, such as cash cows, stars, ques­ti­on marks and dogs. The qua­drants make it easy for the com­pa­ny to work on dif­fe­rent are­as of weak­ness which pre­vent them from per­forming better.

  1. Core Com­pe­ten­ci­es

The method focu­ses on iden­ti­fy­ing the company’s com­pe­ten­cy. This is very hel­pful in posi­tio­ning the com­pe­ti­ti­ve advan­ta­ge of the com­pa­ny. A core com­pe­ten­cy refers to com­pe­ten­cy in an area not domi­na­ted by com­pe­ti­tors. It hel­ps com­pa­nies deli­ver uni­que value to con­su­mers. This hel­ps the com­pa­ny to achie­ve gre­at advan­ta­ge over the competitors.