West Monroe Launches National High Tech & Software Practice to Address Needs of the Booming Industry
New team will provide industry expertise to mid-market and Fortune 1000 companies in the sector, as well as private equity investors
SAN FRANCISCO, Jan. 7, 2021 /PRNewswire-PRWeb/ -- West Monroe, a national business and technology consulting firm, today announced that it has established a High-Tech & Software practice to meet demand from a growing and transforming industry. The practice works with key segments of the sector – including enterprise software companies, hardware manufacturers, IT-enabled services, and private equity software investors and their portfolio companies – to implement strategies that maximize enterprise value.
Will Wu, senior director and leader of the firm's San Francisco office, will lead the practice. Two other directors with significant industry experience, Neil Jain and Dhaval Moogimane, will become part of the practice leadership team.
"While we have served organizations in this industry for years, we are formalizing the practice because our multidisciplinary approach to delivering client solutions calls for specific industry expertise. Having an established industry team allows us to better deploy our expertise in strategic ways," Wu said. "This has become an increasingly important market for us as is our fastest-growing client base. The sector has demonstrated resiliency during the pandemic as companies look to collaboration tools, cloud platforms, and digital technologies to conduct business. In turn, we see growing demand from high-tech and software companies, as well as financial and strategic investors, for solutions that can drive differentiation and value creation."
The practice's key offerings blend industry, technology, and functional expertise to solve issues facing high-tech and software companies, including:
- Optimizing the balance of growth and profitability
- Migrating to new growth areas, such as subscription and SaaS services
- Creating differentiated customer and digital experiences that drive growth while limiting costs
- Accelerating the pace of product innovation
- Securing products from evolving cyber risks
Gartner projects the market for enterprise software will increase more than 7% in 2021, higher than other IT spending segments, and is attracting investment, particularly from the private equity sector. In West Monroe's December 2020 signature research report, "High Tech M&A Defies the Odds," private equity and corporate buyers said they expect deal activity in the high tech and software sector to remain strong: 70% plan to acquire as many as two software/high-tech companies over the next 24 months, and 27% intend to make three or four acquisitions.
"Establishing this national practice at West Monroe allows us to not only better serve clients in the industry through a multidisciplinary approach, but make deliberate investments in talent, assets, and offerings that are relevant to high-tech and software firms," said Doug Armstrong, West Monroe's chief operating officer. "This also represents another step in a series of proactive measures that West Monroe has taken to position our firm for success in the post-pandemic economy."
West Monroe's recent acquisitions added significant expertise to the high-tech & software industry. The firm has acquired three consulting organizations with significant concentrations of work in the high-tech and software industry, including Waterstone Management Group, Pace Harmon, and Two Six Capital. These acquisitions, combined with growing service demand, are driving expansion of West Monroe's San Francisco office, positioning it to serve the region's abundance of high-tech and software companies.
West Monroe expects significant hiring in 2021 to increase the practice's depth and presence, as the practice is expected to contribute 38% growth to the firm in 2021.
About West Monroe
West Monroe is a national consulting firm that was born in technology but built for business—partnering with companies in transformative industries to deliver real, measurable results. Technology is who we are, it is not something we bolted on overnight, and we believe it is one of the greatest enablers of business value. That's why we work in diverse, multidisciplinary teams that blend industry expertise with deep operational and technology capabilities to create quantifiable, financial value for our clients. Our 1,300 employees based in eight offices across the United States also own 100% of our business, so when you partner with us you know we are committed—because your success is our success. Our undeniably different approach breeds undeniable results. Visit WMP.com to learn more.
Media Contact
Christina Galoozis, West Monroe, 847.302.1762, [email protected]
SOURCE West Monroe
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