T.A. Cook has once again received the 'Hidden Champion of the Consulting Market' award in the Asset Performance Management category, making it the best consulting firm in this category for the second time. For COO Dieter Körner, the key to this success lies in the many years of cooperation with our clients and the continuous striving to deepen our expertise.
The "Hidden Champions of the Consulting Market" is a renowned study by the Scientific Society for Management and Consulting (WGMB). The aim of the study is to determine, on the basis of a detailed survey of 1026 executives from large and medium-sized companies, which comparatively unknown consulting firms are considered by their clients to have a higher level of expertise in their field than the three large consulting firms McKinsey, BCG and Bain. For example, T.A. Cook came first in the 'Asset Performance Management' category for the second time in a row after 2019/20 out of 13 consulting firms evaluated, beating PwC, Strategy&, EY and BCG into second to fifth place.
"The results of the study provide us with valuable insights that will help us to further optimize our offering and expand our position as a leading expert in asset performance management," says Dieter Körner, COO at T.A. Cook.
The most important criteria for selecting a management consultant were also defined in a Delphi survey together with consultants and their clients and evaluated in the study. The total of 10 selection criteria include industry knowledge, analytical skills, thought leadership, and communication and implementation skills
Consulting firms that qualify as "Hidden Champions" in the WGMB study must meet several criteria. In the top management of German companies with annual sales of at least 500 million euros, the competence of a hidden champion must be rated higher than that of McKinsey, BCG and Bain in at least one consulting area or industry. The unaided level of awareness of a hidden champion must not exceed 15% among these companies. Another criterion is that the proportion of a hidden champion's clients who also work with one or more of the three champions - i.e., McKinsey, BCG or Bain - must be at least 50% in the sample studied.
In Germany, around a quarter of the roughly EUR 38 billion consulting market was generated by the 25 largest management consultants in 2021. Only a few challengers manage to compete successfully in the top segment of the market; this year, 30 consulting firms qualified as hidden champions and prevailed over the established consulting houses in 20 thematic segments of the consulting market. It is not possible to apply for this study. The preselection takes place exclusively on suggestion by an independent expert committee from science and practice and on the basis on it of empirical preliminary studies of the WGMB. For this reason in particular, the publication of the results regularly attracts a great deal of attention in the consulting market and in the executive suites of large companies.