New Solutions unit expected to further boost growth as the firm reiterates its revenue goal of 1 billion euros by 2020
BearingPoint, one of Europe’s leading management and technology consultancies, had another strong year in 2015. The firm reported full-year revenue of 563.3 million euros, the highest level since the company’s Management Buyout in 2009, and had record newly booked business. The consultancy delivered profitable and sustainable growth for the year, especially in the second half of 2015, and that has continued into the first quarter of 2016.
In 2015, BearingPoint reorganized its business and created three synergetic pillars: Consulting, Solutions, and Ventures. The three units work together to drive innovation, sustainable revenue, and client value. A large share of future growth is expected from the Solutions unit providing software solutions to deliver rapid results. BearingPoint invested heavily in this unit with a focus on digital transformation, regulatory solutions and advanced analytics. As a result, Solutions bookings grew by 44 percent. Another major step toward delivering more digital technology solutions was the acquisition of Helsinki-based Magenta Advisory, the leading independent management consultancy for digital business development in the Nordic region.
Peter Mockler, who, in 2015, was reelected as Managing Partner of BearingPoint for the third time, said: “In our rapidly changing world, we have to solve the problems of our clients with new solutions focusing on their specific needs. Combining Consulting and Solutions and being business-led will help differentiate us from traditional consulting, software and technology firms.”
Another strategic priority is expanding BearingPoint’s global reach through alliance partners. Starting with 14 EMEA countries in 2009, the consultancy has expanded its presence to 35 countries with more than 10,000 people ready to serve clients throughout the world. In 2015, the firm won key engagements in the Middle East, grew its operations in China, opened a third office in Romania and built a joint Center of Excellence with its alliance partner ABeam Consulting in Singapore.
“I’m particularly happy to report that our dynamic development enabled BearingPoint to appoint more new partners to the firm in 2015 than in any year before. In 2016, we will continue to execute our strategy and maintain the growth momentum we gained over the latter part of last year. I expect to see our new strategy and investments made in the past few years to accelerate our growth in 2016 and achieve our ambitious goal of 1 billion euros in gross revenue by 2020. We’ll leverage our global reach and continue to empower our people. Most importantly, we must stay close to our clients and be proactive in identifying how we can best serve them,” Peter Mockler commented.