West Monroe Partners Kevin McCarty / President and CEO
Consulting: Can you sum up where your firm is today?
McCarty: With revenues up 26 percent, 2016 was another solid year of profitable growth for West Monroe Partners. We have been able to capitalize on a very sound market strategy set several years ago and on previous investments in our office network, talent, and infrastructure that have provided us with a stable platform on which we can continue to grow rapidly. In July, we significantly expanded our healthcare capabilities and leadership through the acquisition of Invoyent, a consultancy that has worked with many of the nation’s leading health plans to plan, build, and run technology-enabled business solutions. We also have reinvested in our technology practice, ensuring we have the right capabilities for helping clients master the shift going on around us. Both of these developments bolster our ability to bring innovative, technology-enabled solutions to our clients’ most challenging business issues. As we approach the close of the year, we have grown to a team of more than 850 people across our 10 offices.
Consulting: What’s your firm’s outlook for 2017?
McCarty: I expect 2017 to be another solid year with good growth potential. Despite divided election results, the economy continues to strengthen—and that bodes well for our business. We will continue to focus on the core industries, practices, and geographies that have been driving our growth for the past few years—leveraging those strengths to innovate to address clients’ complex and evolving business issues. Our strongest growth potential in 2017 remains in regulated industries that are in the midst of substantial transformation. These include healthcare, energy and utilities, financial services, and insurance. As has been the case for the past several years, customer experience will be a catalyst for change for companies across an array of industries. We see many clients investing to elevate and differentiate their customer experience, particularly through digital and mobile solutions. Finally, evolving technologies present every organization with unprecedented opportunities to shift their performance, scale, and market impact. I also want to highlight that 2017 marks our 15th year in business—a big milestone that we look forward to celebrating during the year. To see that come to fruition and grow to a firm that will surpass 1,000 people in our 15th year is simply inspiring and very gratifying. It makes me even more excited about the years ahead.
Consulting: What are the biggest opportunities in 2017? What are the biggest challenges?
McCarty: Simply stated, our biggest opportunities will come from remaining focused on our strategy, executing it well, and maintaining the key qualities that make West Monroe unique—including our culture and collaborative style. If we do those things well, then we will help our clients accomplish great things in the next year. And when we do that, we open doors to the next exciting new opportunities. Our biggest challenge, as it always has been, is to live our values and preserve our distinctive culture as we become larger. That starts with our philosophy around growth. We grow not solely for financial gain but to share what we’ve built with people who want the experience of building a career with West Monroe Partners. Our mission to build the next generation of leaders provides a strong focal point for healthy growth in line with our culture.