What recent business trend in the Philippines do you believe will significantly impact the consulting industry?

Situation

While researching for a term paper on digital transformation in Philippine enterprises, I interviewed the IT head of a mid-sized retail chain. He shared that the rapid growth of digital payments, accelerated by the pandemic, forced them to overhaul their entire customer interface. That made me realize how consulting firms like EY are pivotal in guiding companies through such shifts.

Task

I needed to articulate a specific, well-supported trend and connect it to consulting implications, showing industry awareness without overreaching.

Action

I focused on the rise of embedded finance in the Philippines: non-bank platforms like GCash and Maya are offering loans, investments, and insurance. I gathered data from Bangko Sentral ng Pilipinas reports showing digital payment volume grew by over 30% year-on-year. I then linked it to consulting by explaining that businesses now need strategies for regulatory compliance, customer data analytics, and partnership models, all areas where EY's consulting wing can advise. I prepared a concise 90-second pitch with concrete examples from the retail and logistics sectors.

Result

During a mock interview with my career counselor, my response was well received, and the counselor noted I sounded informed and engaged. It helped me in real interviews by showing I think beyond textbooks. The trend itself is now a central topic in many consulting discussions I've encountered.