What are the different types of business consultants?

Meanwhile, a financial advisory consultant guides corporate finance, transaction services, restructuring, risk management, forensics and litigation, and real estate. A financial advisory consultant may also work to reduce a business's tax bill, improve cash flow, and identify investment opportunities that are low-risk and high-return.

An operations business consultant provides advice on supply chain management, process management, procurement, and outsourcing. They look at how to increase efficiency, cut costs, and improve quality. These business consultants are typically hired when there's an economic downturn, a change in management, or a new technology's rolling out.

Effective management of employees keeps a business successful in the long-term. An HR consultant is brought in when a business is struggling with aspects of human resources, like training and development, employee satisfaction, conflict resolution, and employee benefits and pensions.

Finally, a risk and compliance business consultant is there to prevent fraud, abuse, and discrimination and minimize the risks of fines and lawsuits. They may establish or review a compliance program, help to identify business or industry-specific risks, and integrate new policies and programs.