AMSTERDAM--(BUSINESS WIRE)--Management and technology consultancy BearingPoint today announced record revenues of €739 million in 2018. The core Consulting business recorded 6% growth compared to 2017 with the software solutions business growing slightly slower than in previous years. BearingPoint remained strongly profitable even though the firm made significant investments. There was a smooth transition in leadership when longstanding executive Kiumars Hamidian took office as the new Managing Partner in September. Hamidian updated the strategy to navigate the firm through 2025 and put three areas into focus: markets, portfolio and people.
“I am proud to report that we were able to continue our path of sustainable and profitable growth in 2018 and reached the highest revenue ever. It’s also fair to say that 2018 was a year of transition, not only because we had a well-prepared change in leadership, but also because we started to make adjustments to our long-term strategy. The execution of this strategy will allow for more success and further growth in the upcoming years,” said Managing Partner Kiumars Hamidian.
Markets: expansion and recognition
BearingPoint further
expanded in its European core territory. The regions FBA (France,
Benelux, Africa) and UKI (United Kingdom, Ireland) stood out with strong
growth far above the market average. The firm opened an office in
Luxembourg where it has been supporting clients since 2001. BearingPoint
also made a strategic move in the Belgian consulting market by acquiring
Inpuls, a leading data specialist, thereby doubling its size in Belgium.
Market observers once more rewarded BearingPoint’s strengths. IDC recognized BearingPoint as a “Major Player” for capabilities and strategies in the “IDC MarketScape: EMEA Business Consulting Services 2018 Vendor Assessment,” and Gartner evaluated the firm as a Visionary in the Gartner “Magic Quadrant for Integrated Revenue and Customer Management for CSPs” for the third consecutive year. The firm was also honored for its technology solutions: it received the “Chartis RiskTech100® 2019” award, came out as the winner in the category “Best Solution in Tax Reporting” at the Regulation Asia Awards for Excellence 2018, and was also among the winners at the “FinTech & RegTech Global Awards 2018” by Central Banking.
Portfolio: ventures, innovation and business services
As
part of its Ventures activities, BearingPoint made a strategic
investment in Insignary, a global leader in binary-level open source
software security and compliance, which had partnered with BearingPoint
before. It marked the firm’s first time investing in an Asian start-up.
At the end of 2018, BearingPoint set-up a new Business Services unit offering IP services. BearingPoint Business Services combines the firm’s long consulting history, technology experience and scalable expert power to deliver managed services beyond SaaS. The unit has evolved from 20 years of project experience across industries and boasts 100 experts delivering services ranging from the Logistic Emission Calculator, LogEC, to HyperCube, a platform for advanced analytics and prediction.
Innovation was also driven by the internal “Be an Innovator” initiative, six innovation campaigns, and a shark tank event. The firm also ran an acclaimed “A New Things” innovation lab with clients from a variety of industries and geographies. Moreover, BearingPoint added ten new Accelerators, the firm’s proven technology packages with rapid market impact. Bookings through all its Accelerators amounted to €167 million.
People: employee experience and partnership
BearingPoint
made over 1,100 new hires in 2018, demonstrating its attractiveness as
employer of choice for top talent. To further ensure its attractiveness,
the firm developed a new people strategy focusing on employee
experience, including company culture, the interaction with leadership,
the quality of the projects people work on and the environment they work
in. The execution of this strategy was set in motion, both in local
pilots and on a firm-wide level. BearingPoint also announced 21 new
admissions to their partnership in Europe. 14 Partners were internally
promoted, and 7 further Partners joined the firm, confirming
BearingPoint’s commitment to the model of an independent partnership
fully focused on client service.
About BearingPoint
BearingPoint
is an independent management and technology consultancy with European
roots and a global reach. The company operates in four units:
Consulting, Solutions, Business Services, and Ventures. Consulting
covers the advisory business; Solutions provides the tools for
successful digital transformation, advanced analytics and regulatory
requirements; Business Services provides managed services beyond SaaS;
Ventures drives the financing and development of start-ups.
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.
For more information, please visit:
Homepage: www.bearingpoint.com
LinkedIn:
www.linkedin.com/company/bearingpoint
Twitter:
@BearingPoint
