5. Savan Group
Revenue Growth 561%
HQ: McLean, Va.
Savan Group is a small business management and IT consulting firm and "a trusted partner to public sector clients, helping them solve their most critical management and operational challenges to achieve sustainable success," says Veeral Majmudar, President & CEO. "We do this through analysis across the fundamental organizational components of people, process, and technology." As Savan Group celebrates its 12th anniversary in October, "we are all proud of the work that we have put forth and the success we have achieved," he says. "This recognition means a lot to our firm, our employees, and every person who has spent time helping build Savan Group." Majmudar sat down with Consulting to discuss his firm's financial performance.
Consulting: What were the main factors that contributed to your firm's exceptional growth?
Majmudar: Savan Group has experienced exponential financial achievement and growth as a result of targeted investments. Aside from successes pertaining to revenue, we have experienced tremendous growth with regard to acquiring new clients (53 percent), task orders (171 percent) and staff (54 percent). Furthermore, we have improved our overall profitability (131 percent). We anticipate an even greater return on investment as we have restructured our service lines to better meet our clients' needs.
Consulting: How is this year shaping up for your firm?
Majmudar: This year is shaping up to be another successful year for the firm on all fronts. We will have increased our employee base by almost 75 percent. In addition, our revenue will also increase by almost 70 percent. This growth is due largely in part to our expanded service offerings, particularly in the areas of information management, program management support, and strategy work. As a result, we have seen an increase in brand awareness and industry recognition.
Consulting: How would you describe your firm's outlook for 2019? Where do you see the most opportunities?
Majmudar: Our firm's outlook for 2019 is marked by great opportunity. Several large-scale opportunities are available for us to pursue, particularly around the areas of data and information management and risk analysis and assessment. Specifically, with many clients facing significant challenges posed by ever-evolving cyber security threats, stakeholders are seeking more information and data to make informed decisions about their organizations.
Consulting: What are your firm's biggest challenges in 2019?
Majmudar: As it stands now, I think we have two major challenges heading into 2019. First, we need to continue to recruit talented individuals. Although we have experienced many successes to date, the job market, nationally and in the D.C. area, is extremely tight. It's a job seeker–friendly market, so we believe recruiting efforts demand a targeted, creative strategy.
Consulting: What does being named one of Consulting's Fastest Growing Firms mean to your firm, your employees and your clients?
Majmudar: To a certain extent, it feels almost as if we've come full circle. We were fortunate enough to be named on Consulting Magazine's "Seven to Watch" list back in 2011. Seven years later, being named one of the fastest growing firms in our industry is a testament to our employees, our leadership team, and the trust our clients have placed in us.
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