Business consulting – a catalyzer for innovation and economic changes

The path to sustainable growth: client centricity, innovative digital solutions and regulation

1. How do you see the business consulting services market in 2015? What is the major difference compared to 2014?

Overall, global uncertainty, as well as the downturn in the BRIC states shift operations back in the home regions. The election of the president Klaus Iohannis, as a reliable western oriented politician consolidates Romania’s position in Europe. Romania is aligned to the EU, has a highly skilled workforce, economic and political stability and is still very cost effective. All these reasons lead to enormous opportunities in both production and services sectors. Thereof will benefit the local and foreign markets. For us, we have seen growth in the financial services domain, especially with banks and insurance companies, based on regulatory requirements, namely Basel III and Solvency II.


2. The business consulting market might be seen as a proxy for future growth. Do you agree with this statement? If so, what does this proxy tell us? If you do not agree, can you please motivate the answer?

Business consulting brings innovation and is an enabler for growth. Business consulting supports the transformation from solid strategies to successful operations, leading into higher profitability. BearingPoint combines business consulting with technology consulting, providing end to end solutions with measurable results for our clients. Saying that, business consulting services are a catalyzer for changing economies. Romanian companies must have the courage and mind-set for change, accepting the need to allocate budgets for transformation. Leaders in Romania must think and act sustainably.


3. What is the difference that BearingPoint makes in the business consulting services market?

BearingPoint makes a real difference in the financial services sector, as we are front runners in regulatory reporting consulting services, both on a local and European level. Recently, BearingPoint announced the successful ‘Go-Live’ of Solvency II reporting for its clients across Europe and our firm was recognized as a Representative Vendor in the Gartner Market Guide for Solvency II Solutions. Moreover, BearingPoint was honored by IDC Financial Insights in the 2015 FinTech Rankings as a world-leading financial technology provider, another recognition which demonstrates our market strength and leadership in the regulatory domain.


4. As we know, BearingPoint offers 4 major types of services: business consulting, shared services, strategic advisory and IT Services. Which was the most dynamic service in 2014 and have there been any changes in 2015? What are the prospects for 2016?

Our main focus is on business consulting and IT services, which remain strong, but lately we have also extended our strategic advisory and shared services portfolio. We continue to see growth in all the four areas.


5.Globally, BearingPoint aims to build successful businesses in new countries. Since you have entered the Romanian market, how has this market developed? 


We have entered in Romania in its first year of EU membership. Since then, Romania has massively harmonized with EU standards and the business has significantly grown in the production and professional services area. We are proud that we were visionaries, making this decision back in 2006 and seeing the potential of Romania at a very early stage. In the meantime, we have a strong market position and have developed long-lasting client relationships.


6. What is the geographical distribution of BearingPoint offices in Romania? Do you plan to extend your office network in 2015-2016?


Up to 2015, we have opened 3 offices in Romania, based in Bucharest, Sibiu and Timisoara, and increased the headcount by 40% yoy.


7. How difficult is it to find new skilled employees in Romania, since you have a very good employment dynamic?


Having developed a strong brand over the past 9 years in Romania, BearingPoint is positioned as an employer of choice. Our BearingPoint Spirit program builds trust and commitment with our people. Obviously the war for talents remains challenging, especially to fulfil our ambitious growth targets until 2020. We are very optimistic, as we offer motivating career development opportunities, international exposure and an attractive compensation package.


8. What are the major risks for businesses in 2016? Please detail.

Major risks are: political stability in Romania, the economic outlook of the EU and the overall global challenges.


9. What constitutes ‘a good year’ for BearingPoint? What constitutes a ‘good year’ for the business consulting services?


A good year means interesting new clients, high client satisfaction levels, innovative digital solutions, high profitability and retention of employees, all in all sustainable growth.