Consultancy

Part of speech: noun

Pronunciation: /kənˈsʌltənsi/

Definitions

1. A service providing expert advice to organizations or individuals on specific subjects
2. The act of offering specialized guidance or expertise to help solve problems or improve performance
3. An advisory business that assists clients by sharing expert knowledge and recommendations

Etymology: Consultancy is one of those words built from parts that each carry their own history. The base is "consult," which reaches English from Latin "consultare," meaning to deliberate or take counsel, and "consultant" is the person who gives that counsel. The ending "-cy" turns the person into a service or office, the same pattern found in words like "captaincy" and "chaplaincy," so a consultancy is literally the business or position of being a consultant. The noun is a fairly modern coinage, and its existence depends on the rise of professional advisers who sell expertise rather than offering it as a favour among friends or colleagues. The word thus describes a service that is bought, which is a shift from the older idea of consulting as an informal conversation about a problem. Its meaning has stayed close to that commercial sense ever since.

Synonyms: advisory, consultation, counsel, guidance, assistance