BearingPoint revenues grow 10% on back of expansion strategy
BearingPoint has seen its revenues grow 10% last year to €622 million, on the back of organic growth and expansion into new markets, including Singapore, Portugal, Romania and the Czech Republic. The international consultancy, which aims to breach the €1 billion mark by 2020, continues to hire aggressively and develop key talent.
BearingPoint, a Europe-based management and technology consulting firm founded in 2009 following a management buyout of part of the in 2002 founded KPMG Consulting, recently revealed its consolidated accounts for 2016. Global revenues rose by 10% on the year previous, to €622 million. The firm, headquartered in Amsterdam, the Netherlands, also saw its net booking grow by 13%, year-on-year.
The result is in line with the firm’s longer term strategy to break the €1 billion in revenues barrier by 2020. In a statement, Peter Mockler, Managing Partner of BearingPoint, highlights that the firm realised "positive revenue trends" across all its service lines and industrial segments.
The firm has also continued to expand its operations during 2016, adding new offices in Singapore, Portugal, Romania and the Czech Republic. The company, specialised in management consulting and IT consulting, is now present in 22 countries, with a total of 36 offices – offering its services, together with its global consulting network, to clients in 75 countries globally.
The strong performance in the most recent financial year has seen the firm invest in further growing its capabilities in key growth areas, including in the areas of digital, ecosystem management and regulatory technology (which sits within the Solutions arm). As part of the capability deepening, BearingPoint struck several partnerships over the past twelve months, among others with GE Digital to support clients with Industry 4.0 and (Industrial) Internet of Things technology, and with the CoSMo Company to support utilities deal with a rapidly evolving sustainability landscape.
Mockler, now in his third term, remarks: “Our strategy is paying off. I am very happy with the two-digit growth and the overall development of our firm." He adds that the strong results are no surprise to the firm's leadership team, stating "Another record year – the combination of consulting, solutions and ventures, and our focus on digital ecosystem management and regulatory technology, is the right set-up."
As part of the drive, BearingPoint recently restructured its top-tier leadership structure, introducing three regional leaders (Iris Grewe, Kiumars Hamidian and Marcel Nickler) to support execution. The firm also saw its CFO role change hands – Dolf Smeets, a company veteran who retires this year, has been succeeded by the German Andreas Flach.
Looking ahead, Mockler adds that to achieve the €1 billion milestone the business advisory will accelerate its recruitment efforts for key talent and the further development of its staff. "Our strong development gives us the possibility to invest further in top talent and drive innovation worldwide. We are confidently looking ahead, and we will further strengthen our position as an independent, partner-led management and technology consultancy."
