BearingPoint to grow headcount in Ireland to 340

08 February 2018 Consultancy.uk

Global consulting firm BearingPoint has announced that it will up its Irish staff from 300 due to an increase in demand related to regulatory technology. With numerous new regulations set to bind businesses in 2018, the firm is looking to add another 40 team members to cope with clients requesting help to maintain their compliance on multiple fronts.

In the wake of the growing regulatory and compliance burden, financial services firms are increasingly looking at ways to decrease the costs for implementation and monitoring. Compliance budgets have spiralled in recent years, with 55% of institutions saying that their compliance budgets have increased by up to 25% or more in the previous 12 months. As landmark regulations such as the GDPR approach, regulatory technology is being viewed as increasingly essential for businesses to meet the growing level of compliance expected of them.

In Ireland, as with the rest of Europe, this has sparked growth in the consulting industry, which last year stood at 5% in the Republic, as clients sought external advice as to how they might best navigate this new regulatory environment. EY reported both strong revenue and consultant count growth in Ireland over 2017, as did Big Four rivals PwC, with the firm recently expanding its Cork office with 12 new partners. Accenture is also looking to grow substantially in the nation, having completed acquisitions in Ireland to gain market share quickly. 

BearingPoint to grow headcount in Ireland to 340

Most recently, this demand has seen Amsterdam-based BearingPoint begin work to add to its global headcount of 10,000 people, with the hiring of additional consultants and staff in its Irish wing. The technology consultancy, which has clients in more than 75 countries, plans to increase its Dublin headcount to 340, as it braces for expected growth in its international regulatory technology (RegTech) business.

BearingPoint has announced 40 new vacancies in its Irish team, with the roles advertised including project managers, data analysts and software developers. The firm said that this was in line with the growth of its RegTech offering boosting its market share in Europe, North America and the Far East.

The consultancy already works with several Irish and international financial institutions and banks, and has an established RegTech centre of excellence at its headquarters on Adelaide Road in Dublin. The new employees will be based there, working on RegTech products as well as BearingPoint’s digital ecosystem and data analytics software.

According to BearingPoint country leader Eric Conway, the idea of BearingPoint’s technology is to steer banks and other financial services companies away from risky business practices. “Regulation continues to be a key area of focus and growth for BearingPoint, both in Ireland and internationally, across a number of sectors including financial services, health, aviation and telecommunications,” Conway summarised.

Conway was appointed to the role in October last year, and will also be responsible for financial and communications sectors in addition to digital transformation and online engagements in the role – both key areas for BearingPoint, if the firm is to hit its long term goal of €1 billion in global revenues by 2020.

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Fast growing consultancy Step5 rebrands for next growth phase

18 January 2019 Consultancy.uk

Innovative transformation consultancy Step5 has completed a rebranding of its corporate identity as it looks to push forward with rapid growth into a fifth successive year. CEO Howard Dickel told Consultancy.uk why the change in image is so important, and how the consultancy as a whole has grown in recent years.

Step5 was established in 2010 by co-founders Clive Fenton (current Chairman) and Jim Berrisford (incumbent COO). In 2014, the firm’s present CEO Howard Dickel joined, a year before Step5 hit £1 million in turnover. Building on that, for the past four years Step5 has enjoyed growth of more than 30%, and now boasts more than £1 billion in programme budgets managed and an expanding team of over 60 consultants.

Dickel took up the top job at the company last year, and is now keen to kick on from the firm’s recent success, particularly after Step5’s recent rebranding. The new brand identity was developed with creative agency gt&i, and aims to capture the essence of the business today. Step5’s CEO believes this essence is “quietly confident, with an inner strength”, thanks to a diversity of unique skills among the firm’s talent, enabling Step5 teams to constantly innovate and surprise clients. According to Dickel, the rebrand marks the next stage in the company’s development, supporting Step5’s aim to compete on a world stage.

Fast growing consultancy Step5 rebrands for next growth phaseExplaining the firm’s new identity further, Dickel told Consultancy.uk, “High value, high cost strategic consultancy provides insight but leaves the challenge of implementation.  Step5’s strength lies in bridging the gap.  We work closely with our clients to develop and deliver complex business transformation projects and get failing projects back on track.  In the words of our new strapline: Together we can.”

Step5 is one of the UK’s fastest growing business transformation consultancies, and as with many new competitors in the professional services sector, aims to offer clients an alternative to the Big Four. As is the case with other firms looking to do this, Step5 differentiates itself from the quartet’s ‘impersonal’ approach by working to develop a trusted partner relationship with clients and drive change from within companies.

Long-term ambitions

In order to tackle this challenge, Step5 remains on the look-out for forward-thinking individuals, whether already working in the sector or looking for something new. In the long term, its ambition is to grow within the private sector, and in particular the FTSE 250 companies, and to reach its target of £20 million in turnover by 2020.

Among clients already tapping into Step5’s services are the Ministry of Defence, BAE Systems, Barclays, Experian, Serco and Sopra Steria, among others. As well as building a reputation in the private sector, Step5 consultants have worked on some of the UK’s most challenging public and private sector initiatives – including the £1 billion recovery of the spine programme for the NHS and management and delivery of all telecommunications for the London 2012 Olympics.

Step5

According to Dickel, recent engagements are particularly encouraging for the firm moving forward. Lately, the firm supported a leading bank’s move into the £32 billion UK motor finance market, and worked to deliver a complex organisational transformation programme for the world’s leading information services company to better support its strategic goals and deliver savings across all services.

Dickel added, “We also transformed an internal IT function for a European leader in digital transformation, including people, process, operating model and market positioning. This has provided them with a robust, industry best practice function that delivered savings across the company and increased the internal IT capability from an Application, Infrastructure and Management perspective.”

Reflecting once more on the rebrand, he concluded, “Step5 offers clients an alternative to the Big Four consultancies – and it is recognised by its clients as the people who make complex business transformation projects happen... Step5 has grown and developed over the years. The company has come a long way and now it’s time to transform itself to reflect that.”