BearingPoint bets on Digital Ecosystem Management to drive €1bn sales target
PAC recently attended BearingPoint’s Digital Ecosystem Management Summit in London to get some more insight into the strategy behind its "€1bn by 2020" ambition.
Its executives talked up the company’s ability to tackle the digital transformation challenge facing its clients from multiple angles such as technical, business, regulatory etc.
The company has one of the most interesting business mixes in the IT services market with its fusion of management consulting, technical expertise and proprietary tech. In its core industry sectors (telecoms, manufacturing and banking), BearingPoint positions itself as being able to straddle the divide between IT and business stakeholders, leading them through organizational and cultural change while providing end-to-end technical services from design to implementation.
The key takeaway of the DEM Summit was that BearingPoint bets on Digital Ecosystem Management as its key offering crucial to its growth ambition. DEM is all about helping customers transform their businesses to be driven by digital platforms in the manner of an Airbnb or Uber, ideally with BearingPoint’s own Infonova R6 software at its core.
To bring the Digital Ecosystem to life BearingPoint plans to redefine several aspects of its customers’ business, including partner orchestration, operations, monetization strategy and management platform. Ultimately, the customers would get their cloud-based DEM platform that integrates data about their own customers’ markets, products and services, but also other people’s customers, markets, products and services.
One of the major benefits of switching to the “DEM platform” way of doing business for the customer would be automation of partner on-boarding and management. BearingPoint is ready to give a hand here in finding the cross-industry opportunities and defining new services for its customers.
Sector-wise, BearingPoint is currently hunting for opportunities in automotive and manufacturing, smart cities, financial services, and communications and media. It is worth mentioning that IoT will definitely play one of the most important roles in these sectors, especially in manufacturing and smart cities.
The company accelerated its IoT journey back in 2015 with a partnership with German based start-up Relayr, which works with BearingPoint on the rapid prototyping and implementation of IoT solutions.
BearingPoint also recently joined the ranks of IT services providers joining the GE Digital Alliance, through which it aims to accelerate its Industrial IoT footprint and support the digital transformation of industrial companies. The partnership will see two companies develop propositions and use cases that showcase the power of IoT to support the development of new products and revenue streams.
What BearingPoint brings to this partnership is the blend of management and technology skills but with strong expertise in ERP systems. This is what will enable BearingPoint to see the bigger picture of digital transformation. Integrating IoT solutions into existing business systems and on top of that lead the customer through the change process.
The industrial landscape in Europe that BearingPoint is targeting is very competitive, and end user organizations need to streamline their processes and develop new revenue streams. BearingPoint definitely has the potential to position its DEM offering as the great enabler. If it also takes an IoT opportunity to boost DEM, BearingPoint will be in a solid position to establish itself as an early front-runner in this fragmented supplier landscape.