Bain & Company Named as a "Leader" in Innovation Consulting Services

"…Bain supports the full innovation lifecycle across the discover, validate, build, and commercialize phases," an independent research firm concludes

BOSTON, July 2, 2024 /PRNewswire/ -- Bain & Company has been recognized as a Leader, the highest category ranking a firm can receive, in The Forrester Wave^™: Innovation Consulting Services, Q2 2024. "Clients that seek holistic innovation advisory, anchored in a C-suite-mandated innovation strategy, are well placed to work with Bain," wrote Forrester.

According to the report, Bain "has developed a sophisticated approach to organizational change, which was highly recognized by reference customers." Reference customers also highlighted that Bain was "highly invested in their success, adapted quickly to their culture, and focused on capability building in the client organization."

"We are thrilled to be recognized by Forrester as a leader in Innovation Consulting Services," said Dunigan O'Keeffe," a San Francisco based Partner and head of Bain's global Strategy practice. "In today's rapidly changing environment, having strong innovation capabilities is a strategic imperative for our clients as they pursue full potential."

Forrester's report also recognized Bain for following "a branded playbook for innovation strategy alignment, based on its "today forward and future back" approach, supporting organizations in articulating investment needs, opportunity spaces, and value propositions for innovation."

According to the report, "Targeted at innovation portfolio derisking, Bain supports the full innovation lifecycle across the discover, validate, build, and commercialize phases." It also found that to create sustainable delivery, "Bain emphasizes innovation ecosystems to drive informed 'buy-partner-build' decisions and art-of-the-possible experiences."

"Innovation is a muscle that is challenging for many of our clients to build," said O'Keeffe. "This recognition from Forrester reflects for us our commitment to helping our clients not only deliver on specific innovation projects, but also build ongoing innovation capabilities."

Bain employs more than 1,500 in-house innovation delivery experts that provide world-class capabilities in new business innovation, product and experience innovation, automation, enterprise technology, software engineering and advanced analytics, including data science, machine learning and data engineering.

"Helping our clients solve their toughest innovation challenges requires integrated, interdisciplinary teaming," said Arpan Sheth, a Partner and head of Bain's global Innovation and Design capability. "We combine sector expertise and analytical rigor with innovation, design, engineering and technical experts in order to help our clients achieve their innovation goals."

Forrester's report further notes that: "…Bain emphasizes ecosystems and partnerships, most notably its AI impact alliance and venture ecosystem." In recent years Bain has acquired or invested in several leading companies to enhance its innovation offerings. Bain's latest acquisitions have included Umbrage, a Houston-based digital products studio working on state-of-the-art software solutions, Rainmaking APAC, a Singapore-based venture-building and start-up development studio, and Max Kelsen's Australia-based AI engineering team. 

Additionally, the firm continues to expand its network of more than 700 ecosystem partners that provide access to new and emerging capabilities, including its global services alliance with OpenAI and a key partnership with Microsoft, enabling clients to deploy AI applications across their operations faster, more effectively and at scale.

"We have made significant investments in continuing to enhance our innovation talent and capabilities, both organically and through partnerships and acquisitions, and will continue doing so in the future," said Sheth.

Further information on Bain's approach to innovation can be found here.

A complimentary copy of The Forrester Wave^™: Innovation Consulting Services, Q2 2024, can be accessed here.

Editor's Note: To arrange an interview, contact Dan Pinkney at [email protected] or +1 646 562 8102.

About Bain & Company

Bain & Company is a global consultancy that helps the world's most ambitious change makers define the future.

Across 65 cities in 40 countries, we work alongside our clients as one team with a shared ambition to achieve extraordinary results, outperform the competition, and redefine industries. We complement our tailored, integrated expertise with a vibrant ecosystem of digital innovators to deliver better, faster, and more enduring outcomes. Our 10-year commitment to invest more than $1 billion in pro bono services brings our talent, expertise, and insight to organizations tackling today's urgent challenges in education, racial equity, social justice, economic development, and the environment. We earned a platinum rating from EcoVadis, the leading platform for environmental, social, and ethical performance ratings for global supply chains, putting us in the top 1% of all companies. Since our founding in 1973, we have measured our success by the success of our clients, and we proudly maintain the highest level of client advocacy in the industry.

SOURCE Bain & Company