Founder Peter Bendor-Samuel leads firm through two decades to become leading global advisory firm
DALLAS, June 29, 2011 ─ Since its founding two decades ago as a small software business helping companies manage outsourcing transactions, Everest Group has emerged to become a leading consulting and research firm on global services that today serves users and providers of global services, country organizations and private equity firms in six continents across all industry categories. Celebrating its 20th anniversary, Everest Group continues to offer strategic assistance to Global 1000 organizations for solving complex problems related to global services, including cloud computing transformation.
“When Everest Group was a young company, we were helping organizations understand how to harness the value of outsourcing, which, at that time, was a business strategy few understood in terms of how to best structure and manage an engagement,” said Peter Bendor-Samuel, CEO, who founded Everest Group in 1991. “Today, Everest Group has evolved its services in concert with the maturation of the global services market. Now, leading companies are focused on capturing more value from their front-, mid- and back-office business support services as they look for solutions that address their major business challenges. Likewise, Everest Group’s focus has shifted. We are helping clients strategically use the next generation of global services, which often depart from past models and philosophies; require broad execution and management across multiple internal organizations and geographical boundaries; and result in significant cost reduction and/or revenue enhancement.
After serving as an executive at EDS, now owned by HP, Bendor-Samuel established Everest Group with two employees with a software product that helped companies manage large outsourcing transactions and with a vision to improve outsourcing services. Two years later, in 1993, Everest Group transitioned to a third-party intermediary consulting firm, becoming a charter member of a small, elite group of boutique outsourcing advisory firms that counseled organizations that were becoming increasingly familiar and comfortable with the practice of outsourcing business operations and functions to third-party service providers.
Following nearly a decade as a leading advisory firm, Bendor-Samuel published a landmark book in 1999 that laid out the principles of outsourcing and advised on its potential pitfalls. In Turning Lead Into Gold: The Demystification of Outsourcing, Bendor-Samuel advised readers that “outsourcing is here to stay…you may choose to ignore it, but you do so at your own peril – because your competitors are not ignoring it.”
Between 2002 and 2005, Everest Group opened offices in Canada, India, and locations in Europe to serve domestic companies in those regions, as well as multinational corporations, which increasingly subcontracted business processes from lower-cost locations.
A firm believer that deep, updated knowledge is critical for making decisions, Bendor-Samuel invested heavily in research talent and initiatives to solely focus on the rapidly changing global services environment. As a reflection of its industry-leading research capabilities, Everest Group established its research practice in 2005 to provide research, analysis and insights that enable global sourcing managers to navigate through complexities and make clear, effective decisions. In 2008, Everest Group introduced quarterly Market Vista reports that provide data and analysis highlighting key trends and developments in the global offshoring and outsourcing market including outsourcing transaction trends, health of captives, location risks and opportunities and service provider activity.
Over the years, Everest Group expanded services and talent depth in sync with the ever-changing global services industry, including the firm’s recent establishment of its Next Generation IT practice, which includes services to help guide organizations with cloud computing transformation initiatives. The NGIT practice developed and launched Everest Group Cloud Value Assessment Model™ (EG CVAM™), the industry’s first assessment model to provide enterprises a data-driven business case that identifies optimal IT workloads for migration to public, private or hybrid clouds as part of a comprehensive IT transformation.
“Cloud computing is the technological breakthrough that will cause the most disruption in global services this decade. As impactful, disruptive internal and external pressures increase, we continue to evolve our offerings to help clients capture value from the next generation of global services,” said Bendor-Samuel. “Twenty years from now, our firm’s services will no doubt be significantly evolved because global services will never stop advancing; however, our commitment to our clients will remain unchanged.”
Bendor-Samuel credits Everest Group’s success to the firm’s vision, depth of talent and five guiding principles: focus on clients’ shareholder growth; maintain an open mind without presumptions or predetermined agendas; leverage an arsenal of original research; provide a ten-year view for clients and the industry; and ensure organizations take the right first step.