German BearingPoint acquires a major stake in French Effiscience
Management and technology consultancy BearingPoint (Frankfurt am Main, Germany) has announced a significant investment in the business analytics solution HyperCube, by virtue of its acquisition of a majority percentage of the Independent Software Vendor Effiscience (Paris, France). With the transaction BearingPoint reacts on an increasing challenge many companies face regarding their business performance and perspectives: how to handle and use a growing amount of available data in business processes.
BearingPoint delivers business consulting with management and technology capabilities. As an independent firm with European roots and global reach BearingPoint serves leading companies and public sector organisations world-wide to align and optimise processes, IT and operating models with business strategy. Driven by a strong entrepreneurial mindset and desire to create long-term partnerships, BearingPoint’s consultants are committed to delivering excellence and value to their clients. The firm’s approach to working with clients is highly collaborative and designed to improve business performance, from strategy through to execution. BearingPoint currently employs 3,200 people in 15 countries.
“The integration of the software is important for meeting future needs of our customers in handling and using ‘big data’ in their business processes”, says Peter Mockler, Managing Partner at BearingPoint. “Business analytics will become one of the most challenging prospective corporate requirements. Thus, with the transaction we are taking another important step in extending our role as one of the leading business consultancies internationally.”
HyperCube offers a solution to quantify ‘big data’ with very high precision, to identify opportunities and hedge risks along the entire value chain. The software generates easy to understand formal rules immediately usable by end-users and thus improves the way companies make decisions. By acquiring the technology BearingPoint expands its service portfolio in the fast growing asset based consulting field and offers market-specific analytics applications.
Alys Woodward, Program Manager, European Business Analytics, IDC, comments: “HyperCube has the ability to help organizations identify causal links between different factors as represented in a dataset, and present these links as business rules in a simple format to an end user. The fact that it outpaces traditional statistics by firstly requiring no hypothesis and secondly working on a full dataset rather than a sample, is very powerful. It constitutes an excellent reusable asset for BearingPoint’s consulting practice.”
HyperCube is a software developed in over fifteen years of advanced mathematical research in the scientific field. It has been continuously further enhanced to better reflect the needs of various industry segments and has been successfully implemented in a number of renowned companies. Its new non statistical approaches are enabled by a state of the art mathematical algorithm as well as massive computing capabilities provided in a cloud computing environment (SaaS). The solution is highly respected by the scientific community. In 2010 it was awarded by the MIT Sloan School as innovative showcase and the international Pasteur Institute declared it as being the best performing data analysis tool.
BearingPoint’s acquisition and investment in this new software will serve to compliment the firm’s established product and solution portfolio such as the regulatory reporting tool ABACUS and the Infonova product suite.