The Boston Consulting Group (BCG) grows revenue by 14% to $5.6 billion

10 March 2017 Consultancy.uk

The Boston Consulting Group achieved double digit growth in 2016, hitting $5.6 billion in revenues. In addition, the consulting firm added more than 2,000 staff to its ranks, while further boosting its capabilities across a range of functional areas, in line with growing levels of demand.

The Boston Consulting Group (BCG) recorded another year of strong financial growth, with revenues hitting $5.6 billion from around $5.0 billion the year previous. The results were bolstered by considerable organic revenue growth, which amounted to 14%, as well as the acquisition of a number of companies.

The firm picked up various capabilities from partnerships and bolt-ons over the past year, including, the acquisition of Inverto and a stake in matchmaking platform opportunity, as well as launching new turnaround, restructuring, and transformation unit (TURN). Globally the strategy consulting firm breached 14,000 employees as a result, and today has offices in 48 countries, including the opening of an office in Nigeria last year as well as moving to a new headquarters in Boston.

“BCG’s continuous strong growth trajectory is a tribute to the talent of our people and the depth and quality of our long-term client relationships. These results also reflect major investments in building capabilities across our practices and particularly in digital, technology, and analytics,” said CEO Rich Lesser.

BCG grows revenue by 14% to $5.6 billion

The firm has also entered into a partnership with the Darden School of Business to develop a series of online pricing courses, a key advisory front for an increasing number of businesses, as pricing pressures continue to rise globally.

BCG's ambition

Building on the momentum, BCG are now aiming to continue the formula for expansion that has already seen their revenues boom. Top priorities for the future include value creation, deepening of expertise and capabilities and further expansion into new areas, including design thinking, digital and creative. 

According to the Lesser, driving innovation in their client offerings and operating model, and attracting and retaining top talent with an emphasis on diversity of backgrounds and experiences is also key to maintaining the growth achieved in the previous year.

To further BCG's platform for expansion in 2017, the consulting firm has also branched further into venture capital, an increasingly important front for professional service groups looking to boost their returns. Most recently this saw BCG participate in a large funding round for B2B startup Inturn, investing $22.5 million in Series B financing of the project, which sought to tap into the $250 billion fashion and apparel sector. 

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