Banking, a sector that seems to often be late to the party, is playing a little catch up these days when it comes to technology. Digital, cloud, cyber, AI and blockchain are now, or will be soon, coming to a bank near you.
Banking is clearly on the verge of a technological revolution, but the real technological revolution may be happening more in the talent space than in the back offices of your local branch. The demand for data analytics and technology solutions is so great that financial services consultants can barely keep up. And the ones who can are being bombarded with tech demands they're not necessarily equipped to handle. So, what are consulting firms doing about it?
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Consulting magazine writes a lot about the larger, enterprise firms in consulting. That's a given: There's no doubt those firms are the straw that stirs the drink.
And while we happily cover the brands everyone recognizes, there's simply no doubt that we really anticipate discovering our Seven Small Jewels each year. And the analogy is an appropriate one, the thought of uncovering some diamond in the rough is exhilarating.
Turn back the clock to 2004. That's the year Huron Consulting Group was named one of our Seven Small Jewels. To- day, the firm generates more than $1 billion annually. Sort of makes you wonder which of these Seven Small Jewels will be a billion dollar firm in 2030, doesn't it?
This year's Seven Small Jewels defy the odds in so many ways, but when you boil it down to dollars and cents, it really hits home. Combined, the winning firms grew revenue by 53 percent in 2017. What an impressive list of firms punching way above their weight.
Five of the Seven Small Jewels grew at more than 65 percent in 2017. How'd your firm do last year?
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