Edinburgh-based CBS Consulting achieves record revenues and boosts ranks
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 founded 15 years ago by a team of consultants working for the Big Four accountancy firms – who have harnessed their expertise in strategy execution and change management consultancy in a smaller setting.
It has worked with names such as 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 is focused on transformation, in the areas of business and technology; digital, including helping companies adapt to the rapidly changing customer landscape; regulatory, dealing with the constant changes in compliance with a particular focus on payments and fraud; and operational improvement, making clients as "lean, efficient and competitive” as possible.
MD 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. We have the ‘Big Four’ experience without the ‘Big Four’ price, and because of our structure we’re able to offer a highly personalised service, as a true change partner, with a relentless commitment and focus on achieving targeted outcomes for our clients. We’re excited about the future and our continued growth.”