Similarly, a consultancy is hired when companies need to outsource business needs. Consulting typically is more advisory and is meant to provide advice on strategy and top-level decision-making, rather than deliver tangible work to clients, which is what agencies do.

Consultants offer advice and expertise to client organisations to help them improve their business performance. Their work can focus on operations, strategy, management, IT, finance, marketing, HR and supply chain management across a wide range of industries and specialisms.

Consulting is a term for providing business advice on various topics including, corporate strategy, product development, marketing, information technology, and operational improvement. But what most people mean when they talk about consulting is management consulting.

A "consultancy" is usually an organization that provides consultation or guidance, whereas "consulting" (noun) = consultation and is the gerund of "to consult", or "consulting" (adjective) = providing professional or expert advice.