GCI: A Global IT Provider on the Rise
Date: Saturday , March 31, 2007
The growth in the IT service industry worldwide is undeniable. More and more companies continue to look for innovative ways to increase revenues, decrease costs and enhance customer and partner relations in today’s global digital economy.
While many businesses may be familiar with the top five IT service providers, there are other well established firms experiencing equal or better growth. For example, Global Consultants, Inc. (GCI) has become one of the fastest growing providers of end-to-end information technology services and solutions worldwide. The privately-held company has 22 offices and six global delivery centers in the U.S., Europe, China, and India.
It primarily services Global 2000 customers in a range of industries, including banking and financial services, telecommunications, retail, life sciences and healthcare, technology, insurance, and manufacturing. Services provided include Application Development Management, Professional Services, Testing & QA, SAP/ERP Integration and Support and E-business Solutions.
One of GCI’s primary advantages and a big reason for its continued growth is its flexible BestShore Delivery Model. BestShore is GCI’s global delivery methodology using onsite, offsite and offshore so that it can be tailored to the customers’ economic, technological, cultural, and strategic needs. Following a thorough analysis of a host of factors including the nature of the assignment, the customer’s key business drivers, and the overall cost-benefit advantages, GCI proposes a delivery approach that is most appropriate for each client.
For example, an IT project can easily be handled through three or four different countries, depending on what will work best for the client. The goal is always to provide the very best services possible, and not simply look at price.
As Chairman Hiten Patel can testify, the BestShore approach has continued to drive momentum for the company. Revenues jumped from $130 million in 2004 to $175 million in 2005 and to over $250 million in 2006. In May of 2006, the company secured $30 million in equity funding from Oak Investment Partners. True to its word in planning to use part of the funding for acquisitions, in January of this year, GCI announced the acquisition of IVL India.
In addition, in February, it was announced that Dominick Cavuoto, formerly of Unisys, will be the new CEO of GCI. Since 1996, Patel has been both Chairman and CEO. Due to the company’s increasing growth, and the growing responsibilities of each role, Patel made the decision to focus exclusively on his duties as Chairman.
“The market opportunities for GCI are tremendous, and Cavuoto’s proven success in the global arena and his enterprise experience will help us move to the next level of growth,” says Patel. “He has an intrinsic understanding of our BestShore global engagement model as well as much experience in growing companies internally and externally at the right pace. In addition, his expertise in creating collaborative and distributive global delivery organizations is very much in line with the company’s goals.”
“GCI has had a truly amazing trajectory of growth, evolving from a startup to a major global player in record time,” says Cavuoto. “Their blend of entrepreneurial spirit and customer-centric philosophy, as well as a very flexible, global business model, are very much in line with my corporate vision. I look forward to driving and overseeing their next phase of growth.”
In addition, GCI is certified by NY & NJ Minority Supplier Development Council (an affiliate of the National Minority Supplier Development Council). In 2005 GCI was recognized as a National Corporate Plus member of the NMSDC. In 2006 GCI was named as the Regional Supplier of the Year by NMSDC and Supplier of the Year by NY & NJ Minority Supplier Development Council. The company is also an active member of numerous ethnic and diverse organizations.
“We are very excited about the road ahead,” says Ashwin Rao, Senior Vice President, GCI. “The future appears unlimited. Years ago, many thought a minority-run company with limited funds didn’t have a chance against the global behemoths. However, we’ve proved that with the right strategy, people, process, execution, and a tailor-made approach to our customer’s needs, it can be done.”
IN ACQUISITION MODE
Earlier this year, GCI recently acquired IVL India, a leading SAP Enterprise Resource Planning (ERP) services provider, offering a range of SAP services, and industry leading SAP add-on products. IVL India is one of the oldest and most reputable SAP services firms in India today.
With this acquisition, GCI’s ERP Practice globally is now over 700 professionals strong. In addition, IVL India’s Kerala presence gives GCI a competitive edge with a non-metro location, resulting in cost advantages and access to an alternate talent pool. GCI plans to grow this delivery center to over 1000 people in the next year, leveraging this location through its established BestShore Global Engagement Model.