C
ompanies across dozens of industries annually spend billions on management consulting firms. Offering a range of services—improving sustainability practices, advancing marketing strategy, or simplifying supply chain— consultants help companies solve their biggest problems. But choosing from literally thousands of them can be daunting.
“There is definitely a very strong underlying market for consulting services,” says Fiona Czerniawska, chief executive of Source Global Research, a London-based company that advises consulting and professional services firms. But when it comes to choosing a firm, “there isn’t necessarily a magic formula,” she says.
To help executives assess the options, Forbes partnered with the research company Statista to create our second annual World’s Best Management Consulting Firms list.
The rankings were created after surveying both clients and senior executives at consulting firms in 40 countries, including the U.S., Germany, France, the U.K., the Netherlands, Brazil and Japan. Firms were evaluated for their performance in specific industries (such as healthcare, telecommunications and banking) and functional consulting areas (such as sales, strategy and digital transformation). Companies that received the most recommendations were ranked at three levels: five stars for “very frequently recommended,” four stars for “frequently recommended,” and three stars for “recommended.” The final list highlights 229 companies across four continents.
As with all Forbes lists, companies do not pay any fee to be eligible for the ranking.
