Revenues reach new peak, rise to 622 million euros / Further investments in people, client services and technology
Amsterdam, January 25, 2017 – BearingPoint, one of Europe’s leading management and technology consultancies, today announced revenues of 622 million euros in 2016, up 10% over the previous year, reaching again another record. The firm also reported year-over-year net bookings growth of 13%, emphasizing accelerated business development. BearingPoint’s growth was sustainable and profitable, allowing the firm to make further investments in its client services, especially within its focus areas of digital ecosystem management and regulatory technology. The firm also invests strongly in recruiting top talent and developing its people, and affirms its goal of 1 billion euros in revenues by 2020. BearingPoint will continue to invest in its global reach and focus even more on driving innovation around the globe.
In 2016, the firm increased its geographical coverage: it opened new offices in Singapore, Portugal, Romania and the Czech Republic. BearingPoint now has 36 offices in 22 countries and, together with its global consulting network, serves clients in more than 75 countries.
Projects focused on regulation and digitalization as well as the technology solutions business were strong drivers of growth. All service lines, industry segments and regions show positive revenue trends and solid growth rates. BearingPoint invested heavily in digital ecosystem management and regulatory technology and launched a number of technology solutions. The firm again received several awards, underlining its strength in proven tech packages with rapid market impact. It won the prestigious Central Banking Award as “technology provider of the year,” was honored as “regulatory reporting technology provider of the year” at the Buy-Side Awards, won the European IT & Software Excellence Awards, and ranked in the top 30 for risk technology worldwide in the Chartis RiskTech100. BearingPoint was also named a “Major Player for Worldwide Digital Enterprise Consulting Services” by IDC.
The ecosystem of innovation BearingPoint created as part of its Ventures strategy achieved global success when the firm’s spin-off, Elevence, joined forces with Digital Asset Holdings to further develop blockchain technology. The firm also strengthened its own ecosystem by joining forces with companies such as GE Digital to create new digital services based on Industry 4.0 and Industrial IoT technology. Overall, BearingPoint formed a very strong ecosystem of innovation. It integrates start-ups, clients and consulting power, providing a customized mix of technology, ideas and funding to spark growth.
Our strategy is paying off. I am very happy with the two-digit growth and the overall development of our firm. The combination of consulting, solutions and ventures, and our focus on digital ecosystem management and regulatory technology, is the right set-up. It is no surprise that we had another record year, and I am very pleased with what we have achieved together over the last years. Our business success reflects the expertise of our people and the value we create for our clients. It is sustainable, stable and profitable, and mirrors our principle of stewardship. Our strong development gives us the possibility to invest further in top talent, foster our client services 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.
Peter Mockler, Managing Partner BearingPoint
For the current year, BearingPoint plans to continue to grow geographically and develop its portfolio. The opening of new offices and practices will soon be announced.
BearingPoint consultants understand that the world of business changes constantly and that the resulting complexities demand intelligent and adaptive solutions. Our clients, whether in commercial or financial industries or in government, experience real results when they work with us. We combine industry, operational and technology skills with relevant proprietary and other assets in order to tailor solutions for each client’s individual challenges. This adaptive approach is at the heart of our culture and has led to long-standing relationships with many of the world’s leading companies and organizations. Our global consulting network of more than 10,000 people serves clients in over 75 countries and engages with them for measurable results and long-lasting success.
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