Followed by the most successful year of business seen in BearingPoint Finland, 2018 continued equally busy as the previous. We kept the main focus on our key customers in finance digitalization continuing the long-term partnerships with full speed. At the same time, we invested in digital & strategy service sales with a passion, developing further our service supply. In Finland, our strengths rely on our Finance & Regulatory, Enterprise Performance Management, Cloud Transformation and Digital & Strategy services – with an increasing collaboration between the service lines. I am pleased to see how our clients value the opportunity to combine our extensive knowledge from business and technology transformations, and see the value in the results delivered.
History has shown that we are typically in the forefront of market change cycles due to the nature of our business. In 2018, we saw the markets slowing down before we were able to read it from the media: stock exchange dropping, investments being postponed or reduced. The cyclic changes usually come somewhat as a surprise which requires agile way of action at our end, now and possibly even more in the future. All organizations are in need of an agile approach in sizing the business potential and focusing the internal development initiatives into areas that bring the biggest bottom line implications, as well as agile go-to-market approaches in business development to capture the business potential at the fullest.
Viewing our activities through current market trends, there are especially three things to highlight. First, our most junior of teams, Data & Analytics has been building up throughout the year identifying the expanding need for data & analytics expertise across industries. At our practice, we have also started to leverage a partnership with Peltarion to help our clients operationalize AI. Secondly, in a world of technology transformation the shift in demand from old legacy systems to modern cloud solutions among our services has been speeding up. Thirdly, collaboration between corporations and startups keeps on continuing. At Slush 2018 we placed our focus on the financial industry collaboration, as we spent the Slush days with executives from incumbents and startups.
From market perspective, the new year will follow the path of the previous one or possibly turn out to be even more challenging. We can identify formerly postponed projects to realize and conducted sales preparations to speed up the business in the upcoming year. Naturally, new activities will also bring new expectations for the year regarding successful project delivery, which is always exciting for us as a company and especially for our consultants.
The introduced market trends of 2018 are expected to continue growing. Cloud based solutions can be seen to scale up to heavier solutions as we move up to bigger unities (e.g. ERP to cloud). This trend has hardly just begun. Data & Analytics follows the same path and will break through this year or the next ones to come. But what is out of the reach of market trends and cycles is finance regulation. It has dominated the development projects in banking field for last few years and will continue to do so in 2019 keeping our finance & regulatory professionals very busy.
Internally, our new five-year strategy plan is cooking as we speak! This will be an exciting activity for the year 2019. We will be freshening up things and introducing something new as well. With our new pointed Global Leader Kiu Hamidian we will keep developing our business further.
Join us for the ride for the year 2019 as we share our thoughts and insights in our blog throughout the year.
Wishing you a successful 2019 from all of us at BearingPoint Finland!
Mika Niemelä, Country Managing Partner, BearingPoint Finland