Avasant Thrives in the Global Landscape of Management Consulting
Avasant Thrives in the Global Landscape of Management Consulting
Over the course of the last 40 years, technology has driven a fundamental economic shift. With the increasing pace of digital innovation, automation, and AI, many question if these forces will bring about the demise of human society. On the contrary, Avasant predicts this Digital Singularity will instigate the beginning of a new era, unleashing human creativity and delivering opportunities for all.
Avasant isa leading global management consulting firm focused on translating the power of technology into realizable business strategies. Headquartered in Los Angeles, California, Avasant has spread its roots far and wide across the world, encompassing major markets such as Washington DC, New York, Toronto, Spain, London, Dubai, Mumbai, New Delhi, Bangalore, Hong Kong and Tokyo. Avasant provides specialized services in key areas, namely digital and IT transformation, sourcing advisory, global strategy, and governance. The firm supports some of the world’s largest corporations across diversified industry verticals, including BFSI (Banking, Financial Services and Insurance), Healthcare &Life Sciences, High Tech & Telecom, Media & Entertainment, Private Equity, Public Sector, Retail & Manufacturing, Travel & Transportation, Utilities & Resourcing and more.
Established in 2006, Avasant has continued to grow its presence in the global market, delivering high-value engagements through industry-focused innovation and flexible solutions. This has resulted in successful engagements with clients in over fifty countries. Avasant has been acknowledged as one of the top global management consulting firms by prestigious organizations such as the Wall Street Journal, Vault, National Outsourcing Association (NOA), European Outsourcing Association (EOA) and the Internal Association of Outsourcing Professionals (IAOP). The firm’s substantial presence around the globe has also inspired strong desire to bridge the digital divide in emerging markets. Avasant Foundation, Avasant’s not-for-profit organization, is dedicated to empowering youth across regions such as Africa, Asia, the Caribbean and Latin America by providing technology training programs and job opportunities in the Information Communications Technology (ICT) sector.
Using technology as an enabler, Avasant’s comprehensive service portfolio empowers businesses with innovative, specialized, and flexible solutions. Let’s take a brief look at the firm’s expertise:
- Digital: Today’s digital opportunities are ushering in a new era of customer engagement and business process. These are fundamental changes which impact the way services are developed, delivered, and consumed. Avasant focuses on leveraging the potential of disruptive technologies to define business strategies for our clients.
- Avasant’s Digital Business Strategies enable enterprises to develop and execute digital business models, reinvent existing models, and drive business transformation by integrating emerging technologies.
- Avasant’s Intelligent Automation services identify automation opportunities by analyzing the enterprise value chain. Avasant prioritizes value chains and automation models, produces solutions and proofs of concept, and spearheads the program execution, oversight and governance.
- AVASANTX operates at the nexus of technical, creative and business strategy for incorporating a comprehensive user experience across all digital channels, which enables a customer-driven and agile organization.
- Global Strategy: Strategy is at the heart of every change or technology transformation. Obtaining a competitive advantage in complex business environments requires synergy between leadership and excellence in execution. Avasant supports its clients through their strategic journey, bringing the appropriate tools, models, and experience to decision-making.
- Avasant’s Industry Promotion and Development offering is inclusive of services around capacity & policy development, marketing strategy & investment promotion, industry& market research, and innovation &entrepreneurship enablement.
- Avasant’s ICT Capability Enhancement offering is inclusive of investment monitoring and evaluation, operations optimization, modernization, and procurement and economic assessments.
- Avasant’s Digital Empowerment offering is inclusive of services around digital governance, ICT4D and CSR strategy development, and digital commerce enablement.
- Managed Governance Services (MGS): Organizations today are increasingly burdened with the complexity of third party governance and compliance. Avasant’s Managed Governance Services (MGS) offers a solution for managing vendor portfolios to create a simplified, structured, and cost-effective way to maximize sourcing value. We provide best practice processes, automation, and state-of-the-art technology to enable organizations to better manage relationships, improve alignment with business strategies and promote operational transparency.
- Avasant’s Contract Management servicesenable clients to review and monitor the crucial components of their contracts.
- Avasant’s Performance Management serviceshelp to align vendor management to business objectives and outcomes.
- Avasant’s Financial Management services help organizations reconcile invoices, capture discounts and credits, and gain greater transparency in demand management and total spends across all vendors.
- Avasant’s Relationship Management services provide organizations with increased transparency in vendor relationships.
- AvaSense™, Avasant’s proprietary SaaS-based governance tool, enables Managed Governance Services through integration of best-in-class processes, workflow automation, and highly configurable analytics dashboards and reports.
- Strategic Sourcing: Avasant uses its proven methodology to define a sourcing strategy that establishes a business case for change, identifies sourcing opportunities, and helps clients evaluate sourcing partner capabilities that will support the future requirements. Our strategy provides a holistic view of the sourcing landscape based on our deep understanding of industry needs, service provider capabilities and emerging technology trends. Our recommendations balance both long-term strategic goals and short-term tactical priorities grounded in a comprehensive understanding of our clients’ vision, key business drivers, and constraints. Avasant’s proven methodology includes four stages: Strategy, Transaction, Implementation, and Governance.
- Avasant’s Price Benchmarking services offer clients exclusive insight into current market rates to help them identify opportunities for cost savings and new focus areas to address during potential contract renegotiations with providers.
- Avasant’s Contract Assessment and Renegotiation services leverage proven best practice models and industry insights to ensure clients get the full value of their technology sourcing contracts.
- Avasant’s Sourcing Value Assessment assesses and realigns risk profiles by analyzing current sourcing relationships against marketplace availability of IT, business process services, and changing business requirements.
- With proven contract techniques and price benchmarks for all major software licenses, Avasant’s software license optimization methodology results in the rapid negotiation of favorable terms, conditions and pricing.
- Transformation: Avasant clients realize a more customer-centric and business-driven operating model by integrating transformative technology. Their refined approach prioritizes initiatives based on business impact and lays the roadmap for actionable steps toward managing a more efficient technology footprint.
- Avasant’s Technology Modernization services identify key gaps and risks in current technology environments. Our comprehensive assessment evaluates an environment’s ability to scale, integrate, and support long-term technology and business goals.
- Avasant’s Enterprise Cloud Strategy & Enablement services analyze current workloads to determine suitability for cloud migration based on technology, architecture/integration, dependencies, market maturity, process maturity and experience with successful migrations.
- Avasant’s Business Process Transformation services shape future business requirements by redefining processes that maximize efficiencies and leverage new technologies.
- Avasant’s IT Spend Optimization services analyze spend across categories and vendors to create an enterprise-wide baseline of technology spend across IT and the business.
- Avasant’s Organization Transformation services evaluate a business using 4 independent tracks supported by a common plan and followed by a launch and optimization phase: Business Service Strategy Assessment, Human Resources Assessment, CCM Strategy, and Governance Strategy Development.
Avasant’s Key Differentiators
Since its inception, the firm has been entrusted by some of the most influential Fortune 500 companies for its strong capabilities, flexibility, and quality of its consultants. A few of Avasant’s key differentiators are:
- Highly qualified, skilled and trained professionals with an average of two decades of industry-honed expertise
- Highest level of recognition for Consulting and Advisory Services from the most prestigious agencies and publications
- A complete and comprehensive library of industry best practices and database of benchmarking information for the IT environment
- Unparalleled partnerships with over 500 service providers globally
- ‘World’s Best Outsourcing Advisors’ 2009-2017 (5-star rated) by International Association of Outsourcing Professionals (IAOP)
- Kevin Parikh honored as ‘CEO of the Year 2017’ by CV Magazine
- Listed in the ‘Twenty Most Promising Utilities Technology Solution Providers 2017’ by CIO Review
- ‘Best Companies to Work For’ 2013-2016 by Vault Consulting
- Top management consulting firm for ‘Internal Mobility’ 2016 by Vault Consulting
- Recognized among the ‘Best Consulting Firms for Diversity’ 2015 by Vault Consulting
- National Outsourcing Association 2014 and 2015 award for ‘Corporate Social Responsibility’
- ‘Outsourcing Advisory of the Year’ 2014 – 2015 by National Outsourcing Association
- Ranked in top five management consulting firms for ‘Corporate Social Responsibility’ 2015 by the European Outsourcing Association
- recognized among Nearshore Americas Power 50 Rankingin Latin American Outsourcing 2011 and 2013
- Recognized as ‘Number 1 BPO Advisor’ and ‘Top 10 Full Service Advisors’ by the Black Book of Outsourcing 2007 and 2008
Life at Avasant
Avasant also exemplifies best practices within their own workplace, as the firm has a 95% retention rate. An extensive 12-week training program, an annual offsite company retreat, and even heavily subsidized gym memberships, are just some of many perks Avasant provides its consultants. In a chat with The CEO Magazine, Mr. Kevin S. Parikh, Avasant Global CEO & Senior Partner, shares “I truly believe we have the best people. Through the intrinsically open and collaborative nature of our team, we have been able to make a global company as widespread as ours feel close.”
Corporate Social Responsibility
As a result of Avasant’s engagement in the global market, the Avasant Foundation was formed with the mission of improving lives and communities by empowering youth in emerging economies through technology education and employment opportunities. Leveraging existing relationships and deep domain knowledge, Avasant Foundation brings together diverse stakeholders to create opportunities for youth that enable them to use their skills to enhance their local economies. The Foundation has been recognized by the Clinton Global Initiative (CGI) for its technology skill development programs in Latin America and Asia. Through initiatives funded by organizations like the World Bank and Rockefeller Foundation, Avasant has helped catalyze the creation of thousands of new jobs across six countries in Africa, including Kenya, Ghana, Morocco, Nigeria, Egypt and Uganda.
As Mr. Parikh contemplates the road ahead, he notes, “We [Avasant] has a number of exciting projects planned which will change the way businesses are run and interact with their consumers.” He continues, “We are always looking ahead, preparing ourselves and our clients for the business challenges of the future. We are proud to be recognized among the 25 Fastest Growing Management & Strategy Consultant Companies in India and are thrilled to know that our innovative methods continue to leave a lasting mark in the industry.”