CBS Consulting achieves record revenues
An Edinburgh-based firm that provides change management advice and support to UK financial services companies has reported record results for the first quarter of 2021 – and boosted headcount.
CBS Consulting, whose key areas of focus comprise business transformation and digital, regulatory and operational change, said revenue in the period stands at more than £1 million, double seen in the same period last year.
Furthermore, the practice – which mainly serves Scotland
and London – has added nine consultants to its team, and is anticipating further growth. It attributes its expansion to a shift from the use of big consulting firms during the downturn, “to more niche, specialist consultancies that provide good value for money and improved outcomes”.
The organisation was founded15yearsagobyateamofconsultants working for the Big Four accountancy firms, who have harnessed their expertise in a smaller setting. It has worked with names including Standard Life Aberdeen, Lloyds Banking Group and John Lewis, and says it aims to be the “leading change-partner of choice” in the UK financial services sector.
CBS Consulting managing director Eddie Curran said: “We’ve seen a trend of financial services companies increasing their investment in digital transformation, in particular, during the pandemic. This isn’t likely to reverse, because the benefits will continue well after the pandemic is over, with increased cost pressures and greater customer expectations for digital services. We’ve also seen a real desire for value, and that’s essentially what’s helped us increase market share.”