DALLAS, Jan. 24, 2006 (PRIMEZONE) -- Everest Group, a leading provider of strategic advisory services that help companies worldwide harness the power of outsourcing, advised on approximately 20 percent of the major outsourcing transactions announced in 2005, which are estimated at $75 billion in total contract value. Everest Group continued to enhance its leadership position in 2005 with the launch of the Everest Research Institute, a substantial investment in its human resources outsourcing (HRO) practice group in the US and Canada, and the expansion of its international capabilities with new office openings in London and New York. Everest Group was one of the first companies to advise on outsourcing strategy and transactions when CEO Peter Bendor-Samuel founded the firm in 1991, and has since grown into one of the largest consulting firms focused exclusively on outsourcing and other sourcing alternatives.
"As we celebrate our 15th anniversary, we can look back on 2005 as a banner year for Everest Group in terms of the growth and market share we achieved, the caliber and number of clients we served and the size and scope of the sourcing agreements that we facilitated on behalf of our clients," said Peter Bendor-Samuel, CEO of Everest Group. "From an operational and service standpoint, 2005 marked a real turning point for the firm, as we underscored our commitment to outsourcing thought leadership with the establishment of the Everest Research Institute, made significant investments in key outsourcing segments and completed the expansion of our network to better serve clients across the globe."
Key 2005 highlights for Everest Group included:
-- Growth in Advisory Services: Everest Group advised clients on
an estimated 20 percent of the largest global business process
outsourcing (BPO) transactions in 2005, including several of
the largest deals in the areas of HRO, finance & accounting
outsourcing (FAO) and procurement outsourcing (PO).
-- Launch of the Everest Research Institute: In February 2005,
Everest Group introduced the Everest Research Institute, an
independent research and analysis service that provides
outsourcing buyers, suppliers and investors with actionable
insight on market developments. The Everest Research Institute
draws on Everest Group's extensive consultative and advisory
experience and an advisory board of the industry's leading
thinkers and practitioners.
-- Expansion of HRO Specialty Practice Group: In November 2005,
Everest Group significantly expanded its HRO specialty practice
group, with the addition of five distinguished HR BPO experts to
its North American team. In addition to its dramatic expansion
in the fast-growing HRO segment, Everest also continued to focus
and invest in the areas of FAO, PO, manufacturing, health care
and energy & utilities to deliver long-term value to clients.
-- Completion of Global Footprint: Everest completed its
international expansion by launching new offices in London and
New York, while significantly bolstering its capabilities in
New Delhi and Sydney. These offices complement existing
facilities in Dallas and Toronto and provide Everest Group with
the ability to more effectively serve clients in markets around
the world.
-- Expansion of Advisory Focus: Building on its deep understanding
of the sourcing marketplace, Everest also expanded its service
offerings in 2005 to include a broader array of sourcing
alternatives, including insourcing, shared services and captive
operations models.
"The investments we made in 2005 were all aimed at helping us deliver higher levels of insight and greater strategic value to our clients," added Bendor-Samuel. "When we launched Everest Group in the early 1990s, the business process outsourcing industry was still in its infancy. Fifteen years later, the outsourcing space has matured to such an extent that most buyers of outsourcing services wouldn't attempt to navigate the complexities of long-term outsourcing arrangements and renewals without a trusted advisory partner who can be there to ensure that buyers are getting the most value out of their suppliers at every stage."
About Everest Group
Everest Group provides strategic advisory services that help companies worldwide harness the power of outsourcing. Our offices in the United States, Canada, India, Australia, and the UK enable us to serve clients effectively around the world. Our breadth and depth of experience allow us to deliver expert analysis and strategic results. Since 1991, we have completed hundreds of major outsourcing transactions in more than 30 key business processes.
Everest Group helps companies create sourcing strategies and outsourcing relationships that deliver total value -- improving performance and results throughout their organizations. Our reliable, realistic, proven approach, developed over the course of 14 years of experience in this space, analyzes the specifics of each complex sourcing challenge and produces a simplified, trusted solution that recognizes the strengths, weaknesses and strategic objectives of both parties.
Everest Group is committed to continuing research and analysis of the strategic issues of the outsourcing market. We created the Everest Research Institute (www.everestresearchinstitute.com) as the central source of industry information. We also developed specialized training and knowledge management systems that enable our consultants to create and share innovative approaches worldwide, as well as a forum for learning about outsourcing through the Outsourcing Center (www.outsourcing-center.com) -- the largest online educational resource on outsourcing.