What are the problems with the existing model of digital consulting?

Organised professional consulting industry, which is growing at a CAGR of 4.1% annually. However, digital consulting is still in its nascent stages with its processes fragmented, tedious and insecure. There is no mechanism for information seekers and subject matter Professionals to connect seamlessly, which leads to suboptimal productivity for information seekers and missed revenue opportunities for the latter.

Here’s how the digital consulting industry is functioning at present –

  • Information seekers search for relevant professionals on the internet and try to connect with them over phone, email or a social networking platform. The professional might not answer the call because as it is from an unknown number, they may ignore the email as spam, they may not even respond to the message on a social network for the lack of an incentive to connect with someone random
  • In the scenario where a professional and information seeker do manage to connect, they may have to spend more time fixing a price for the service
  • With multitude of financial frauds these days, the professional may not be very comfortable while sharing his/her payment account details with a random person on the internet who they have never seen or met
  • Mode of payment always remains an issue with high transaction cost and limitations on cross-border fiat currency remittances
  • Depending on the business model of the platform where the customer and professional connected, either party may be levied a hefty transaction fee when he/she transfers the payment to the professional.
  • If the customer is dissatisfied with the professional’s service, he/she has no mechanism for availing a resolution.

These are some of the problems which plague the digital consulting industry, and Maester Protocol is solving all of them, and many more!

In our upcoming posts, we shall look into each of the problems highlighted in more details, and how Maester Protocol is solving them. Coming soon!

Refer to our previous post here