Demo version To market review. Russian business consulting market: main tendencies and development forecast

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1 Demo version To market review Russian business consulting market: main tendencies and development forecast Saint-Petersburg 2013

2 Demo version contents Review parameters Research objectives 2 Information sources 3 Review content 3 Target Audience 4 Contents 5 Tables list 6 Charts and figures lists 9 Mentioned companies list 10 Excerpts from the review 12 About author 20 Methodology 21 Contact information 23 Report language - English Pages: 133 Report contents: tables - 56 charts 13 figures 2 Report Price (Rub): 46,600 rubles VAT Rate : 0% The market review «Russian business consulting market: main tendencies and development forecast» was held by specialists of Information Agency CredInform according to requirement of one of the market participants. The review covers the time period from 2007 to 2012, and in different forecast scenarios. Research objectives 1. Description of the structure of the market of business consulting, its development trends, the estimation of the market as a whole and by segments, its major players, types of consulting services. 2. Assessment of business activity of market participants of consulting business in Russia. Monitoring of changes in the ratings of market participants. 3. Analysis of competitive processes in the field of business consulting in Russia, the level of competition and the degree of concentration in the industry. 4. Assessment of the prospects of the market, the possible development scenarios of the business consulting by segments. 5. Profiles of major market participants. 2

3 Information sources 1. Federal State Statistics Service, the Federal Tax Service, Ministry of Economic Development and other ministries and departments, industry associations, etc. (official). 2. Information from portals of federal and regional authorities, materials and press releases, market participants assessment by the country's leading experts, industry analysts and experts, published in open sources of information (media). 3. Own informational resource and extensive enterprises database of Information Agency «Credinform" (Global Universal System "GLOBAS-I", the certificate of state registration number ), formed on the basis of years of work and constantly updated from official sources (Federal Tax Service, Federal Minister and other ministries and agencies). Review content The marketing review Russian business consulting market: main tendencies and development forecast is structured into four sections according to contents. Notably for convenience of reading the whole research and analysis results of the given market in the aggregate are shown in an introductory part (Summary: market /portrait/ profile) of the report. The given form of representation allows expert to receive at once answers to key matters, and in content of subsequent chapters - more detailed market profile information that, as a result of use of marketing methods of gathering and data analysis, allowed formulating the figures resulted in brief, also facts, arguments and conclusions by Agency experts. The first section is devoted to description of general market characteristic, in particular: structure of Russian companies preferences in the field of methods of consulting, generalized classification of consulting services in Russia, segmentation, international classification, market trends, growth rates, the impact of the crisis processes in Russia, development factors, the existing international and domestic regulatory and regulatory organizations, and international networks (associations ) of accounting and consulting firms. Market participants are considered in the second section, in particular: the major international players, the so-called "Big Four", and audit and consulting groups, the biggest Russian consulting companies that provide various types of business consulting services, as well as major companies providing consulting business in the regions. The assessment of market participants is presented in the survey as their key financial performance indicators, which allows understanding of the effectiveness and efficiency of their financial activities. The results of the financial analysis are presented in the last few years for the following groups: core profit 3

4 ratios, liquidity ratios and financial stability, profitability ratios and business activity. This section analyzes the integration processes at the market in recent years. In addition, the general prospects of the further development of the market are forecasted in the baseline, optimistic and pessimistic variants. These are forecasts for the consulting market as a whole and for each its segment. These aspects are discussed in the third section of the report. Profile information for a number of leading companies in the market is presented in the fourth section. Moreover, the use of own database of companies (Global Universal System "GLOBAS-I"), available in on-line, has provided more open business (commercial) information to a number of leading market participants, as legal entities. Their balance sheets (form number 1), the profit and loss statements (form 2), as well as key performance indicators of financial and economic activity of the firm in the past five years are also added. Business (commercial) information includes the status of the company, legal form, date of establishment, registration information and the authorized capital, the founders, management, activities according to the registration documents, licenses received (including the period of validity and the issuing agency), the number of employees, the volumes of sales and other information. In general, the experts IA "Credinform" presented the results of complex analysis, expert assessments, predictions that allow to understand fully the status, trends, competitive environment, business processes, potential and possible prospects of development of the market of business consulting. It will aid to make the right decisions, successful business and reduce business risks. Target Audience This study is intended for current and prospective companies - market players, and entrepreneurs. 4

5 Contents SUMMARY: MARKET /PORTRAIT/ PROFILE 3 1 THE STATE OF BUSINESS CONSULTING MARKET MARKET STATE AND MARKET STRUCTURE GENERAL STATE OF THE MARKET AND ITS TENDENCIES FACTORS AFFECTING THE CONSULTING SERVICES MARKET INDUSTRY ASSOCIATIONS AND UNIONS INTERNATIONAL AND NATIONAL PROFESSIONAL ASSOCIATIONS AND UNIONS INTERNATIONAL NETWORKS (ASSOCIATIONS) OF AUDIT AND CONSULTING FIRMS 33 2 FEATURES AND STRUCTURE OF THE MARKET, TRENDS IN THE COMPONENTS «BIG FOUR» - THE MAIN INTERNATIONAL MARKET PLAYERS MAIN AUDIT AND CONSULTING GROUPS MARKET PLAYERS FINANCIAL PERFORMANCE OF THE PARENT COMPANIES OF ACG THE BIGGEST RUSSIAN CONSULTING COMPANIES THAT PROVIDE VARIOUS TYPES OF BUSINESS CONSULTING SERVICES BIGGEST COMPANIES THAT PROVIDE BUSINESS CONSULTING SERVICES IN REGIONS OF RUSSIA (ALL FEDERAL DISTRICTS EXCEPT CENTRAL) INTEGRATION IN THE RUSSIAN CONSULTING MARKET THE VIEWS OF MARKET PARTICIPANTS 65 3 FORECAST OF THE CONSULTING MARKET IN FORECAST OF THE CONSULTING MARKET IN FORECAST OF CONSULTING MARKET DEVELOPMENT BY SEGMENTS IN LEADING MARKET PLAYERS PROFILES PROFILES OF PARENT COMPANIES OF "BIG FOUR" IN RUSSIA PROFILES OF PARENT COMPANIES OF BIGGEST ACGS IN RUSSIA 110 CONCLUSION 131 5

6 Tables list Summary: market /portrait/ profile 1. THE STATE OF BUSINESS CONSULTING MARKET 1.1. The volume of russian consulting market in , bn. rubles. (top-75 и top-150 companies) 1.2. The volume of consulting market by types of consulting services in (bn. RUR) 1.3. Ranking of biggest world associations of independent firms (by annual turnover in fiscal year) 1.4. World ranking of firms and associations (by annual turnover in fiscal year) 2. FEATURES AND STRUCTURE OF THE MARKET, TRENDS IN THE COMPONENTS 2.1. The companies of Big Four and the main directions of their activity 2.2. The financial results of companies "Big Four" for (a result of the financial year) 2.3. Information on Russian representatives and branches of Big Four companies in Russia 2.4. ТОР-10 federal ACG at the beginning of Key financial figures of the largest ACS in Russia (according to foreign standards on the basis of financial performance of 2011) 2.6. Leading companies and groups of companies that provide consulting services in the segment of the strategic and general management consulting 2.7. Leading companies and groups of companies that provide consulting services in the segment of the financial management consulting 2.8. Leading companies and groups of companies that provide consulting services in the segment of human resources management consulting 2.9. Leading companies and groups of companies that provide consulting services in the segment of the tax consulting Leading companies and groups of companies that provide consulting services in the segment of the production management consulting Leading companies and groups of companies that provide consulting services in the segment of the IT consulting Leading companies and groups of companies that provide consulting services in the segment of the legal consulting The biggest companies (group of companies) involved in business consulting, by FD 3. FORECAST OF THE CONSULTING MARKET IN The average annual projected growth rate of the consulting market in Russia 3.2. Basic forecast of the Russian consulting market for , billion rubles Pessimistic forecast of the Russian consulting market for , billion rubles Optimistic forecast of the Russian consulting market for , billion rubles Forecast for consulting market volume by segments in LEADING MARKET PLAYERS PROFILES 4.1. Business information about the company ZАО KMPG 4.2. Balance sheet (RUB) of ZАО KMPG on the 31th of December Balance sheets (RUB) of ZАО KMPG in in comparative form. 6

7 4.4. Profit and loss statements of ZАО KMPG in , in comparative form, rubles 4.5. Assessment ratios of ZАО KMPG in (according to Russian standards) 4.6. Business information about the company ООО Ernst & Young 4.7. Balance sheet (RUB) of ООО Ernst & Young on the 31th of December Balance sheets (RUB) of ООО Ernst & Young in in comparative form 4.9. Profit and loss statements of ООО Ernst & Young in , in comparative form, rubles Assessment ratios of ООО Ernst & Young in (according to Russian standards) Business information about the company ZAO DELOITTE & TOUCHE CIS Balance sheet (RUB) of ZAO DELOITTE & TOUCHE CIS on the 31th of December Balance sheets (RUB) of ZAO DELOITTE & TOUCHE CIS in in comparative form Profit and loss statements of ZAO DELOITTE & TOUCHE CIS in , in comparative form, rubles Assessment ratios of ZAO DELOITTE & TOUCHE CIS in (according to Russian standards) Business information about the company ZAO PRAISVOTERKHAUSKUPERS AUDIT Balance sheet (RUB) of ZAO PRAISVOTERKHAUSKUPERS AUDIT on the 31th of December Balance sheets (RUB) of ZAO PRAISVOTERKHAUSKUPERS AUDIT in in comparative form Profit and loss statements of ZAO PRAISVOTERKHAUSKUPERS AUDIT in , in comparative form, rubles Assessment ratios of ZAO PRAISVOTERKHAUSKUPERS AUDIT in (according to Russian standards) Business information about the company ZAO BDO Balance sheet (RUB) of ZAO BDO on the 31th of December Balance sheets (RUB) of ZAO BDO in in comparative form Profit and loss statements of ZAO BDO in , in comparative form, rubles Assessment ratios of ZAO BDO in (according to Russian standards) Business information about the company ZAO Intercom Audit Balance sheet (RUB) of ZAO Intercom Audit on the 31th of December Profit and loss statement (RUB) of ZAO Intercom Audit on the 31th of December Assessment ratios of ZAO Intercom Audit in (according to Russian standards) Business information about the company OOO FinEkspertiza Balance sheet (RUB) of OOO FinEkspertiza on the 31th of December Balance sheets (RUB) of OOO FinEkspertiza in in comparative form 7

8 4.33. Profit and loss statements of OOO FinEkspertiza in , in comparative form, rubles Assessment ratios of OOO FinEkspertiza in

9 Charts list 1. THE STATE OF BUSINESS CONSULTING MARKET 1.1. The preference structure of consulting methods in Russia, % 1.2. Dinamics of russian consulting market in , bn. RUR Share structure of consulting services in Russia in 2010 by segments, % 1.4. Share structure of consulting services in Russia in 2011 by segments, % 2. FEATURES AND STRUCTURE OF THE MARKET, TRENDS IN THE COMPONENTS 2.1. Estimated distribution of the Russian consulting companies by type, % 2.2. The dynamics of financial results of the "Big Four" in FORECAST OF THE CONSULTING MARKET IN The dynamics of the market consulting business in and the basic forecast for , bn. RUR The dynamics of the market consulting business in and the pessimistic forecast for , bn. RUR The dynamics of the market consulting business in and the optimistic forecast for , bn. RUR Forecast for consulting market volume by segments of consulting in management in , % 3.5. Forecast for consulting market volume by segments of tax and financial consulting in , % 3.6. Forecast for consulting market volume by segments of consulting in marketing and personnel management in , % 3.7. Forecast for consulting market volume by segments of consulting in IT and legal field in , % Figures list Conclusion Fig. 1. Example of brief information on the company in the reference book Fig. 2. Example of business information on the company (fragment of the 1st page) 9

10 Mentioned companies list Company s Name Company s Name АNО EDUCATIONAL RESEARCH ООО Audit Group COMPANY REDCENTER ZАО Gorislavcev and Co. EuraAudit" ООО Audit novie technologii ZАО Alliance consulting investment group ООО Audit company Centr strategicheskih issledovaniy, analiza i audita ZАО Audit firm "MEF Audit" ООО Audit company Etalon ZАО Audit consulting company EKFI ООО Audit consulting company AFB ZАО Audit consulting group Prime Advice ООО Audit firm AVUAR ZАО BDO ООО Audit firm Faber Lex ZАО Deloitte & Touche CIS ООО Audit consulting group Novgorodaudit ZАО Audit firm Аrt-Audit ООО AFK Audit ZAO KMPG ООО Business Training ZAO Laboratory of New Information ООО City expertise center Technologies LANIT ZAO PricewaterhouseCoopers AUDIT ООО Consort ZAO Finex Quality ООО National audit corporation ZAO Center for Economic Expertise ООО NEO Center Nalogi i finansovoe pravo ZAO I-Teco ООО Pepeljaev Group ZAO Audit company Delovoy profile ООО RCM Top-Audit ZAO Audit consulting group Razvitie business system ООО The Management Company Regional Academy of system technologies and amplification thinking ZAO Bogeria ООО USP Compulink ZAO Audit Delo firm ООО Financial and Accounting Consultants ZAO INSTITUTE OF BUSINESS ООО FinExpertiza PROBLEMS ZAO Intercom Audit ООО Appraisal center Avers ZAO RESEARCH CENTER of INTERNET TECHNOLOGIES Intertech ООО Center of judicial and nongovernment expertises Index ZAO United Consultants FDP ООО EKKONA (audit and consulting agency) ZAO Prima audit. Group Proud ООО Energy consulting /Business service ZAO Firm IT. Informational technologies ООО Energy consulting /Integration ZAO Ekopsi Consulting ООО Energy consulting -Management ZAO Energy consulting Audit Yekaterinburg branch of ZAO KPMG Ural Regional Centre ZAO Energy consulting /Corporate IT Kazan branch of ZAO KPMG Solutions ZAO Energy consulting /Tatneft Krasnojarsk branch of ZAO KPMG ООО Audit-Expert Company Balt-Audit- Nigegorodskiy branch of ZAO KPMG Expert ООО Informational business systems Novosibirsk branch of ZAO KPMG Siberia regional center ООО Consulting group 2К Audit delovie consultacii Saint-Petersburg branch of ZАО Deloitte & Touche CIS ООО PricewaterhouseCoopers Consultancy Saint Petersburg branch of ZAO KPMG North-West Regional Centre ООО ТОiR Consult Toljatti branch of ZАО PwC Audit ООО Trust audit branch of ZAO KPMG in Rostov-na Dony ООО Ernst & Young Branch of ООО Ernst & Young ООО UBM/Business service Branch of ООО Ernst & Young in 10

11 ООО 1st Consult Center ООО АDК-audit ООО АМB Consulting Yekaterinburg Branch of ООО Ernst & Young in Novosibirsk Yuzhno-Sakhalinsk branch of ZАО PwC Audit ООО Audit bez granits 11

12 Excerpts from the review: SUMMARY: MARKET /PORTRAIT/ PROFILE Parameter Characteristics Russian business consulting market: Report Title main tendencies and development forecast Degree of concentration in the industry *** 2011 *** bn. rubles. (tор-75) Consulting services market volume in Russia 2010 *** bn. rubles. (tор-75) Total: + ***% in 2011 Competition parameters *** The base market growth rate in 2014 ***% 1 The state of business consulting market 1.1 Market state and market structure One of the characteristics of the demand for co-called consulting product is the following fact: demand for consulting services on the formation stage of business is rather low. At higher stages of the business development the organization s demand for consulting services increases. At the same time its competitive advantages increase: ***. The following classification is considered as the universal generalized one: 1) ***; 2) ***; 3) *** 1.2 General state of the market and its tendencies The development of consulting and audit market is an indicator of economic and business development generally. Turnover growth of consulting and audit shows the growth of business activity. 12

13 Table 1.1 The volume of russian consulting market in , bn. rubles. (top-75 и top-150 companies) the volume of consulting market (top-75), bn. rub. the rate growth of consulting market (top- 75), % the volume of consulting market (top-150), bn. rub. the rate growth of consulting market (top - 150), % the volume of audit market, bn. rub *** *** *** ***% ***% ***% ***% *** *** *** *** ***% ***% ***% ***% *** *** *** *** *** *** consulting has the *** rate of growth ***% in 2011 (according to top- 75 companies assessment). This direction is primarily concerned with the expansion of production and diversification. And crisis expectations of economic agents decelerate the development of this direction. Chart 1.4 Share structure of consulting services in Russia in 2011 by segments, % 13

14 Table 1.2 The volume of consulting market by types of consulting services in (bn. RUR) Year Restructuring of a company Management and administration *** *** *** *** *** *** *** *** *** *** *** *** *** *** *** *** *** *** *** *** *** *** *** *** < > > < *** *** *** *** *** *** *** *** *** 1.3. Factors affecting the consulting services market. Based on the analysis of various ratings, data analysis, information of market participants, experts can identify the following key factors affecting the market consulting business in Russia: General economic situation (crisis, stagnation, growth) defines a business environment of enterprises and their financial situation, and therefore the presence of free funds in enterprise balance, that can be used to purchase consulting services; The policy of companies; their priority systems and their focus on development; *** *** International networks (associations) of audit and consulting firms International Accounting Bulletin provides a rating of biggest global (international) networks (associations) of independent companies in the field of audit and consulting ( Ranking of biggest world associations of independent firms (by annual turnover in fiscal year) Network title Turnover in 2010, $ 1. Praxity *** 2. Leading Edge Alliance *** 3. IGAF Polaris *** *** *** Table

15 2. Features and structure of the market, trends in the components The remaining share is divided among numerous small and medium companies. Compare with auditors total revenue growth the share of related services is growing at a rapid pace and is already above 50%. This trend, according to analysts, will continue in the future. Chart 2.1 Estimated distribution of the Russian consulting companies by type, % 2.2. Main audit and consulting groups market players There was a slowdown in the growth of business consulting market in The revenue growth of the biggest ACGs swung from *** to ***%. Experts suggest that the situation on the market has significantly improved in At the same time the revenue growth of the biggest ACGs rose up to ***%. According to data of acting companies and industry analysts, audit is about *** in the revenue structure of biggest companies. 15

16 Group of compani es Number of compani es (change in 2011) (accordi ng to the compan y and the agency Expert RA data) ТОР-10 federal ACG at the beginning of 2012 Parent / managemen t company in Russia Specializatio n Leaders of the parent company Address / Internet address in Russia Tel. Table 2.4 Audit+ 1 ITtechnologie *** s+consultin *** *** g *** *** *** *** ZAO Intercom- Audit 2 STATISTIC AL ACG Intercom- Audit *** NUMBER: *** INN: *** Audit + Consulting *** *** *** *** Х *** *** *** *** *** *** *** *** Х *** *** *** *** *** *** *** *** The combined revenues of the group in 2011, m. rubles. (accordin g to the company and the agency Expert RA data) 2.4 The biggest Russian consulting companies that provide various types of business consulting services However it is worth to consider different sectors, therefore Russian consulting companies operating successfully in the various segments of business consulting will be presented below. Each segment of the Russian consulting market has its own leaders that provide services within the segment. Top-companies in areas were compiled on the base of different ratings and analyzes according to a top-5 in the direction pattern... 16

17 1 Table 2.6 Leading companies and groups of companies that provide consulting services in the segment of the strategic and general management Group of companies ZAO NCIT Intertekh 2 *** Parent / management company ZAO Research center of internet technologies Intertekh STATISTICAL NUMBER: *** INN: *** ZAO Alliance consulting investment group STATISTICAL NUMBER: *** INN: *** consulting Leaders of the parent company Contacts Tel. Group revenue from this type of consulting in 2011, m. RUR *** *** *** *** *** *** *** *** 3 *** *** *** *** *** *** 5 *** *** *** *** *** *** 17

18 3 Forecast of the consulting market in Under favorable conditions, the total turnover of 75 largest companies may exceed *** billion rubles in This assessment is based on the evaluation of the top companies turnovers. And the leaders will be segments of consulting, working to improve the efficiency of the business, i.e. all kinds of business processes - production, organizational, management process, etc. 3.1 Forecast of the consulting market in This forecast of market volume is estimated by income of the 75 biggest firms in the industry. Table 3.1 The average annual projected growth rate of the consulting market in Russia Projected market growth in pessimistic ***% basic ***% optimistic ***% According to Credinform assessments Chart 3.3 The dynamics of the market consulting business in and the optimistic forecast for , bn. RUR. According to companies data, assessment of Credinform 18

19 4 Leading market players profiles 4.1 Profiles of parent companies of "Big Four" in Russia Table 4.1 Business information about the company ООО *** (example) Status Active Legal form Closed joint-stock company Established *** # *** from ***, *** Registration Statistical number: *** INN: *** Founders *** % Management *** - General director *** 2011/12/31 - *** emp. Staff 2010/12/31 - *** emp. 2011/12/31 - *** RUB Annual sales 2010/12/31 - *** RUB On 2011/12/31: Real estate Fixed assets - *** Other information Short name: *** Subsidiary: *** Banks: According to data of FSSS, FTS, assessment by IA Credinform Table 5.5 Assessment ratios of ООО *** in (according to Russian standards) Key profit ratios Выручка от продаж, (руб.) *** *** *** *** *** *** *** *** *** *** Liquidity and financial stability ratios Current liquidity ratio, (х) *** *** *** *** *** Interest coverage ratio, (х) *** *** *** *** *** Profitability ratios Activity ratios According to data of FSSS, assessment by IA Credinform 19

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