The 5 Star Ranked Consulting Firm Translating the Power of Technology into Realizable Business Strategies: Avasant, LLC

Innovation today is driven by the needs of the individual - each person’s unique opinions, beliefs and preferences - which is why traditional methods of innovation won’t cut it in the Digital Age.

With the advancement in analytics technology, customization of the user experience is evolving at a jet speed. Also, in order to meet the growing expectations of stakeholders, the bar in some sectors rises from innovation. Across retail, healthcare and even government industries, this shift can be found and is transforming the way people live, work and play.

Created by the limitless applications of technology, this new age for innovation is all about embracing the technological changes; those who adapt gain an advantage in a crowded landscape but those who don’t, they fall hopelessly behind.

The Dawn of Avasant

In the mid-1990s, Kevin S. Parikh began his career as a lawyer working in Washington, D.C. with the United States Environmental Protection Agency, where he received a Presidential Invitation to support the One America Commission by Bill Clinton.

At the birth of Y2K, he moved to Gartner Consulting to lead the company’s Global Strategic Sourcing Practice and in 2006, Kevin founded Avasant, which has become one of the leading management consulting firms providing strategies for the world’s largest corporations.

Having an unparalleled connection with over 500 service providers, Avasant is specialized in digital and IT transformation, sourcing advisory, global strategy, and governance services. Benchmarking for companies in various stages of development, the company prides itself on delivering high-value engagements through industry-focused innovation and flexible solutions to top clients in various industries.

With an average of 20 years of industry-honed expertise and having conducted 1000+ engagements in over 50 countries, Avasant has some of the best professionals in the industry. The company’s next-generation consulting and advisory methods have made it the top-ranked firm in its class, with recognition from numerous organizations including Vault, NOA, IAOP, and Wall Street Journal.

Avasant is also a participant of the United Nations Global Compact and works to realize the ten universal goals in the field of Human Rights, Labor, Environment, and Anti-Corruption policies. By incorporating the Global Compact principles into strategies, policies, and procedures, and establishing a culture of integrity, the company upholds its basic responsibilities to people and the planet and takes actions that advance societal goals.

Social entrepreneurship has been a key tenant and continuing theme throughout the history of Avasant, and its engagement in the global market has inspired a strong commitment to community and purpose. In 2011, following a grant from the Rockefeller Foundation, Kevin founded Avasant Foundation, focusing on youth training and employment for the digital economy. Today, the foundation supports technology and skill development programs and creates employment opportunities for youths all across Africa, Asia, the Caribbean and Latin America.

Addressing the Industry Pain Points

CEO, Kevin S. Parikh, on Avasant Filling the Voids in the Industry:

“With the rapid advancement of technology, our relationship with technology has continually advanced as well, from treating technology as a tool for specific tasks, to collaborating with technology in a way that extends us, to—where we’re headed as we move toward Digital Singularity—technology becoming a vital and omnipresent part of our lives.

While we may now be in just another “age” with a familiar set of circumstances, we’re also in an intense period of continuous change and innovation. We see it when our iPhones and Google devices instantly receive updates. Our cars are starting to do this as well; Tesla regularly sends software improvements and bug fixes to its vehicles’ operating system. Change is all around us, but it’s the pace of technological innovation over the past two decades that has been most astonishing. And this will only pick up speed in the years ahead.

This constant forward march of technology has become a part of our collective digital reality. That’s why companies need to redouble their efforts to retrain workers, enhance skills, get on a course of continuous education, and learn to adapt to the changing conditions. If you don’t have the right tools, and if you’re not creating, transforming, or innovating in your industry, you’re not competing in the new consumer demand–driven marketplace for business. It’s the companies that make the right investments—especially in the technology prerequisites—that will remain relevant and benefit from the robust change around us.

While some traditional businesses have begun focusing on improving their performance and knowledge to offer better services and technology as part of an investment in research and development, a radical, disruptive technology comes around—like artificial intelligence—completely blowing away the growth curves.”

Standing Out In the Crowd

At Avasant, their business of providing advisory services is guided by the company’s core objective of empowering people, businesses, communities, and countries to reach beyond the status quo and challenge their potential to acquire new levels of success. This drives the company’s social, cultural and corporate vision. Over the years, Avasant has earned several accolades from numerous leading organizations, such as the International Association of Outsourcing Professionals’ (IAOP) “World’s Best Outsourcing Advisors” award for more than 10 consecutive years. In 2018, Avasant was one of six firms globally that have been recognized as a Five-Star Global Outsourcing Advisor Firm by IAOP.

With a global team of multi-disciplinary IT experts, professionals, lawyers, and management consultants, Avasant is a complete and comprehensive one-stop shop of industry best practices and a database of benchmarking information.

Empowers Clients with Best-Of-Breed Solutions

Providing top-class consulting expertise across 10 verticals, Avasant has worked with several renowned names in the industry including Fortune 500 companies.

Here are some of the client case studies from different verticals:

Second-Largest International Airport in North America

Technology is significantly increasing the pace of modernization in the airline industry by presenting opportunities for revenue growth. To meet the needs of 21st-century travel, Avasant developed a digital business strategy for the second-largest international airport in North America to optimize their non-aeronautical core operations and processes.

Identifying long-term strategic partnerships, sourcing strategies, and gain sharing models to create a digital ecosystem, Avasant’s experts have helped its client realize a 10-15% increase in non-aeronautical revenues, 20-25% process cost reduction in core operational processes, and over 35% reduction in utility IT costs.

One of the World’s Least Developed Countries in Africa

Government entities, private sector platforms, and civic interest groups are uniting to restructure how citizens interact with government, and the quality of service and transparency that is achievable.

Avasant supported the government of one of the world’s least developed countries in Africa in developing a digital government strategy to facilitate and promote e-Governance through a structured approach and to strengthen their ability to deliver digital public services.

One of the World’s Largest Quasi-Governmental Bodies

Increased transparency and alignment with third-party vendors is increasingly difficult and one of the largest quasi-governmental bodies was experiencing this strain in governance capabilities. Avasant identified the core attributes that were missing from their governance methods and partnered with them to establish their internal processes.

Avasant’s services, supported by its proprietary technology tool, provided the client with access to real-time analytics, dashboards, and live support by a team of experts. The client was able to minimize value leakage, better manage risk, and focus on strategy.

A Large Power Generation, Transmission and Distribution Company

The global utility industry continues to face challenges with increasing power demands, conservation targets, an aging infrastructure, and new areas of competition. Partnering with technology providers can help in filling the voids, enabling cost-cutting measures necessary for survival.

Avasant helped a large power generation, transmission, and distribution company modernize its IT systems, enabling the integration of Smart Systems such as Smart Grid, Distribution Management Systems, Demand Response Systems, Smart Metering and Smart Home Technology. Aligned with compliance requirements, the company’s recommendations focused on bringing best-in-class capabilities to create a reliable infrastructure. These technologies not only optimized costs, but they also provided added value to their customers through improved responsive and competitive prices.

The Government in the Arctic Tundra

In a highly decentralized geography, Avasant created opportunities for the government to offer citizen-centered programs and services. While the region is rich in natural resources, it lacked the infrastructure necessary to reap the benefits of their environment and modern technologies.

After months of on-site experience and assessment, Avasant’s consultants developed Corporate Information Management and Communication Strategic Plans. The company’s recommendations focused on guiding the development and deployment of information management, enterprise architecture, telecommunications technologies and mobility infrastructures. These implementations defined their introduction into the modern world.

Client Testimonials

“As much as we talk about technology, it’s really important that you have the right team with the right focus and that you get the right partners aligned as well. Avasant has been a key partner, both in its own right but also with helping us build good partnerships with the providers.”

- Drew Martin, CIO, Jack in the Box

“I can confidently say that it’s been a great relationship. Some of the new things which they have brought to the table I have not seen before. Our latest project with them was very innovative, and Avasant brought on a lot of value for that.”

- Umesh Shah, Division Chief, IMF

Crafting the Future Roadmap

Over the years, Avasant has gained tremendous growth in the industry. With leading clients in all verticals,the company intends to keep growing at its current rate of 35% year-over-year. The company expects its continued excellence to scale as it hires from the top of the market at the senior level while its mentorship initiatives shape associates at the junior level to grow into top consultants on the Avasant home field.

Avasant plans to continue to diversify and grow according to market demand. Through its mentorship program and collaborative technology initiatives, the company will continue to grow as a digital workplace. Also, Avasant’s current employees will be empowered likewise to expand their current skills through leadership and growth opportunities subsidized and encouraged by Avasant’s educational funding and mentorship programs.

To support community initiatives and as a Corporate social responsibility, Avasant is going to raise cash and other support equivalent to $1M for Avasant Foundation. Keeping communities in mind, the company will continue to enable employment for disadvantaged youth globally by working with key stakeholders, including service providers.

Increasing awareness of the current industry through online channels such as YouTube, Facebook, LinkedIn and Twitter, Avasant plans to provide career mentorship and business coaching to budding entrepreneurs across the globe and arrange to fund for 10 tech start-ups in Africa, the Caribbean, and India.

The Man Behind the Success

Kevin Parikh, Global CEO & Senior Partner: Mr. Parikh specializes in IT and business process (BP) outsourcing contract and service-level negotiations, strategic management, business risk evaluation and software licensing. His practice engages in both nearshore and offshore sourcing solutions. Mr. Parikh is based in Los Angeles, California. Prior to joining Avasant, Mr. Parikh led the Global Sourcing practice for Gartner Consulting.

“Continued growth is our key strategy to maintain our position as a leader in technological development trends. We work in an inevitably dynamic and energized industry – thus, a mindset toward constant growth in our service offerings, geographies, practice areas, verticals, and the staff is paramount to staying ahead.”