BearingPoint: 10 years of success, ready for the next decade
Almost ten years to the day after the management buyout (MBO) that established the independent, Partner-led management and technology consultancy in 2009, BearingPoint announced that it has launched its Strategy 2025 for even greater success in the decade ahead. Three major ambitions drive the Strategy 2025: to put people in the center, to outperform the market every year and enable European clients to become global leaders, and to be within the top three players in key areas of expertise. Cornerstones of the strategy are to focus on five key areas in consulting for a clear differentiation in the market, to generate new revenue streams with intellectual property, to build critical mass within all practices, to accelerate the growth of BearingPoint’s solutions business, to foster greater collaboration between communities for more innovation, to leverage new business models and ecosystems, and to recruit, develop and retain the best talent.
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“It’s our firm’s 10th anniversary since we executed our management buyout back in 2009 and created the independent BearingPoint partnership, which I am proud to be part of today. Our Strategy 2025 builds on our existing strengths and puts people first. It outlines clear ambitions for the years ahead and focuses our business and differentiates us in the market,” said Kiumars Hamidian, Managing Partner of BearingPoint. “We are a European success story because of our strong client relationships, our intellectual property, and our people culture, and I am confident that our Strategy 2025 will keep the success going for us and our clients.”
BearingPoint had record revenues of €738 million in 2018 and has grown to more than 4,500 people. The firm said its Strategy 2025 is closely aligned to the market so that growth remains steady and profitable.
Strategy: Focus & Differentiate
BearingPoint said it is building on and further expanding the strengths that differentiate it: the firm’s culture and principles, its management and technology capabilities, its ability to create IP within ecosystems, and its independence and European roots.
“IP creation is something that we already have in our DNA,” said Kiumars, “and we will emphasize this much more. We want to make sure that the great work done on projects is leveraged across the firm from everyone at BearingPoint. Our people-centric approach is characterized by collaboration and communication and reflected in three dimensions: our clients, where we want to focus on the people aspect behind business transformation; our people, where we want to ensure that BearingPoint is the best place to develop and grow; and the communities around us, where we want to make a positive impact.”
BearingPoint structured its operating model into three units. The first unit covers the consulting business with a clear focus on key areas to drive growth across all regions. Earlier this year, BearingPoint established Business Services as a second unit in which it provides IP-driven managed services beyond SaaS and offers business critical services to support the business success of clients. The third business unit provides the software for successful digital transformation and regulatory requirements. It is also designed to explore innovative business models with clients and partners by driving the financing and development of start-ups and leveraging ecosystems.
To create synergies, BearingPoint also combined its practices into three regions: FBLA (France, Belgium, Luxembourg, Africa) led by Eric Falque, GSA (Germany, Switzerland, Austria) led by Iris Grewe, and GROW (Ireland, United Kingdom, Italy, Sweden, Finland, Norway, Netherlands) led by James Rodger. The firm said it seeks to have critical mass in all its practices, which means having at least 100 people in each practice.
The new operating model took effect on September 1.
Matthias Loebich will lead the Markets area of the Consulting unit that comprises all its industry segments. Damien Palacci is leading the Consulting Portfolio, which helps functions of companies with innovative offerings. Patrick Palmgren will lead the newly created business unit covering solutions, M&A activities, and ventures.
Donald Wachs, who leads the Business Services unit, and Damien Palacci have joined the Management Committee of BearingPoint.
BearingPoint is an independent management and technology consultancy with European roots and a global reach. The company operates in three business units: The first unit covers the advisory business with a clear focus on five key areas to drive growth across all regions. The second unit provides IP-driven managed services beyond SaaS and offers business critical services to its clients supporting their business success. The third unit provides the software for successful digital transformation and regulatory requirements. It is also designed to explore innovative business models with clients and partners by driving the financing and development of start-ups and leveraging ecosystems.
BearingPoint’s clients include many of the world’s leading companies and organizations. The firm has a global consulting network with more than 10,000 people and supports clients in over 75 countries, engaging with them to achieve measurable and sustainable success.
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