Coeus Consulting’s European fees now 35% of group revenues
After the consolidation of its continental wing in preparation for Brexit, advisory firm Coeus Consulting has reported that it’s European fees now make up more than one-third of the group’s revenue. The firm’s entry into Germany is credited with being the driving force for this growth.
Founded in 2012, Coeus Consulting is an award-winning UK consulting firm specialised in IT advisory, business transformation, operating model design, procurement and the delivery of technology transformation. Amid the uncertainty of the UK economy thanks to the pressures of Brexit, an economic slowdown, and the coronavirus pandemic, the firm has been working diligently to safeguard its future prosperity – something which, according to the firm’s latest financial data, is paying dividends.
In recent years, the firm has been looking to secure its continental presence in preparation for the UK’s exit from the European Union. In 2019, this saw the launch of its first European mainland office in Düsseldorf – a decision brought forward by a couple of years due to Brexit. Graeme Trevayne, a seasoned consultant with a track record across Europe, was hired to lead the local venture, and according to him the first 24 months of the operation have been a success.
Trevayne commented, “It has been a great time to join the company. The German office provides us with the best of both worlds. Although Coeus Consulting is still relatively small in Germany, there is a tremendously supportive atmosphere due to being part of a larger firm with access to a significant resource pool of established talent.”
Coeus’ German arm sees the consulting firm advise customers spanning the energy, manufacturing, and consumer goods sectors, with a service portfolio mirroring its UK portfolio. In terms of Europe’s consulting market, the UK and Germany are the largest national markets, followed by France. As a result, the fact that Coeus has entered the market – winning a number of key contracts in the process – has boosted the firm’s European revenues significantly. Fees from the continent now make up 35% of Coeus’ group revenues, in spite of the coronavirus making finding new business difficult for many other consulting industry operators.
Despite the challenges brought about by the Covid-19 pandemic and its economic repercussions, 2020 saw Coeus Consulting manage to onboard two flagship household names as new customers, and secure “several significant extensions to existing European contracts”, according to Trevayne.
In the future, Coeus intends to invest further in its German team to make it more self-sufficient, and better able to swiftly support clients there. At present, Coeus can call upon experts from its 50-strong London office to complement local offerings, however, as the firm enters 2021 it has announced a goal of growing its Düsseldorf headcount by 40%.
James Cockroft, Director of Coeus Consulting, remarked, “We have exciting plans for 2021 and we expect to double our local European workforce this year. The focus is serving our local clients with culturally and linguistically-aligned consultants, but with the capabilities and style of consulting that has made us so attractive to our clients.”
In the UK, meanwhile, Coeus has also been in keen demand throughout the last year. With many businesses suddenly having to accommodate for remote working amid the lockdown months, clients sought out IT advisory firms such as Coeus to help ramp up their digitalisation efforts throughout 2020. This included supporting a local council and a university with their response to the crisis, as well as helping a challenger bank with its digital journey.
