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Bain & Co.’s digital transformation practice has nabbed the coveted “Leader” designation in a recent market study by respected research firm Forrester.
The digital transformation projects Bain takes on for clients are usually broad, expensive IT upgrades that span multiple parts of a company. Its clients are mostly publicly-listed corporations upgrading their internal systems. Additionally, private equity firms draw on Bain’s services to enhance the IT infrastructure of the businesses they acquire.
Bain often relegates digital transformation projects to a business unit called Vector. This unit employs about 1,500 professionals who use technologies from 700 tech suppliers in client engagements.
According to Forrester, the decision to name Bain as a leader in the digital transformation services market was driven by several considerations.
The first has to do with the fact that digital transformation initiatives have a fairly high rate of failure. Bain, Forrester says, places more emphasis on reducing projects’ failure risk than any other consultancy it has evaluated for the study.
Bain also won high marks for its ability to “align senior leadership and push them to collaborate around common goals.” That can likely be credited in significant measure to the firm’s management consulting know-how.
Bain is among the world’s most prestigious management consultancies and advises many Fortune 500 executives on business decisions. As a result, it has had an opportunity to win those executives’ trust. That trust no doubt comes handy for Bain in digital transformation projects, which generally require strong support from the leadership team of the company where they’re being carried out.
Forrester also pointed to Bain’s “IP [intellectual property] assisted approach to strategy discovery and business model innovation” as a highlight of its capabilities. Bain, like many of its competitors, has developed proprietary workflows and technologies to streamline client projects.
“We’re honored to be recognized by Forrester as a Leader in its Digital Transformation Services assessment, placing Bain in its highest ranking category,” commented Bain senior partner Eric Garton. “Digital transformations are complex and require not only technical capabilities, but also strategic, organizational and change management competences.”