Revenue Growth: 47%
Protiviti is a global consulting firm helping companies solve problems in finance, technology, operations, governance, risk and internal audit, and has served more than 60 percent of Fortune 1000 and 35 percent of Fortune Global 500 companies, according to Joe Tarantino, President & CEO of Protiviti. Its independently owned Member Firms serve clients through a network of more than 70 locations in over 20 countries.
The firm, the largest on this year’s Fastest Growing Firms list, is ranked No. 43 with an astounding 47 percent growth rate. Consulting caught up with Tarantino to ask him how Protiviti pulled it off.
Consulting: What were the main factors that contributed to you exceptional growth?
Tarantino: We have had a focused strategy on helping companies solve critical business problems in internal audit and controls; risk and compliance; finance; and technology that we implemented following the recession. We made investments in building a talented workforce with deep expertise in areas that are on the minds of the C-suite at our clients. Each of these areas of focus, along with some areas of innovation in data and analytics and business performance improvement, has experienced strong growth during this timeframe. With the firm’s growth and the quality of work we have provided to our clients, our brand is becoming more globally recognized to large and emerging companies. This recognition, in turn, has facilitated many new opportunities.
Consulting: How is 2015 shaping up for your firm?
Tarantino: The current year has been another year of strong growth for Protiviti. Through the first nine months, we have grown 20 percent over the same period last year.
Consulting: How would you describe your firm’s outlook for 2016?
Tarantino: We continue to be optimistic about the prospects for future growth. The global consulting spend in all of our practice areas is extremely high and, even with our growth, our market share is relatively small. We see continued scrutiny of financial services companies by regulators, a heightened concern about data privacy and security in the wake of recent breaches, challenges with managing data and technology and an ongoing focus for the need to manage risk and internal controls better.
Consulting: What do you see as the biggest challenges for your firm in 2016?
Tarantino: In the short term, because of our significant growth, our biggest challenge is sourcing and onboarding new talent into the organization. This will require additional investments in our recruiting and learning and development programs and the need for more frequent and robust communication with our people. In addition, we also see the need to strengthen our infrastructure to support the overall growth of the firm.
Consulting: What does being a Fastest Growing Firm mean to your firm, your employees and your clients?
Tarantino: This is an important recognition for Protiviti because it communicates to our employees and future recruits that we are an innovative and growth-oriented firm, which in turn, provides career opportunities and promotion opportunities to them as they enjoy a career with our firm. It is also an important message to our clients because they want to be serviced by and associated and build relationships with firms that are growing, innovating and operating collaboratively.