Annual revenue of 207 million dollars for global consultancy
Philadelphia, March 29, 2023 – cbs Corporate Business Solutions has closed the 2022 financial year with groundbreaking success: The globally operating management consultancy increased its sales by more than 45 percent year-over-year. The cbs Group generated sales of 207 million dollars (previous year: 142). cbs is thus continuing a steep upward success curve. In the United States, cbs is broadly established and advises major industrial customers, including those from Mexico and Canada. Demand for transformation services is booming, and sales in that space grew by almost 50 percent.
The globalization and digital transformation of companies, the goal of establishing uniform, intelligent and flexible business process platforms worldwide, and the upcoming switch to the new SAP software generation in a cloud architecture are the main drivers behind the high demand for cbs’ end-to-end solution offerings. cbs continues to grow internationally. Last year, 300 new colleagues were hired worldwide. At the end of the year, cbs employed around 1,200 people.
CEO Rainer Wittwen: “This is a fantastic result that exceeds all our expectations. It shows that our strategy and comprehensive consulting approach is being honored. We combine management and technology consulting into a holistic, highly innovative offering for the business transformation of the international manufacturing industry. We design business processes and transform system architectures end-to-end and enterprise-wide. We have a global footprint and serve our clients worldwide. Our numbers confirm that our customers rely on us and our employees are passionate about the cbs mission: Both make us very proud.”
cbs Managing Directors Stefan Risse, Rainer Wittwen (CEO) and Holger Scheel (from left, Photo: cbs).
In addition to the high demand in the core market, there was strong international growth in the cbs branches in Europe, the USA and Southeast Asia. “We further increased the pace of growth in 2022, were able to support numerous highly exciting projects as a leading consultant, and acquire renowned customers at the international level,” explains cbs Managing Director Holger Scheel. Furthermore, the consultancy recorded a very successful partner business in 2022. cbs has a robust international partner network and was able to use this very well to meet the high delivery requirements of customers across the board and to cover peaks in demand flexibly. Partners made a correspondingly strong contribution to the success of the financial year; worldwide, it doubled compared to the previous year.
Specialist für strategic innovation projects
“What our employees achieved in 2022 was exceptional. cbs is highly profitable and has once again achieved a double-digit return on sales. We want to continue on this successful path. We can already see that we will exceed our vision of a global “cbs 2025″ formulated in 2017 and set out in key figures. We have already reached the milestone of 1,000 consultants. We are confident that in 2025 we will have further expanded our staff and developed sales in the direction of 300 million,” explains CEO Wittwen.
The global economy is struggling with geopolitical crises, inflation, and supply chain bottlenecks. “We are on track in the industry’s future fields and strategic projects, which – despite the many uncertainties – are being pursued with determination to consolidate and sustainably expand the companies’ good market position. This is also good news for Germany as a business location and for the DACH region, from which so many of our global market leaders come,” emphasizes Scheel.
International branches deliver are growing fast
The strong growth of the offices in Austria, Switzerland, and Finland, as well as the Delivery Center in Spain, underpin the good results of the cbs Group. In the USA, too, cbs is broadly established and advises major industrial customers, including those from Mexico and Canada. Demand for transformation services is booming, and sales in that space grew by almost 50 percent. Business is also going very well in Asia. cbs has a growing branch there with over 200 employees.
“cbs has long been a global company. The past year has shown once again: The globalization of the company is a success story,” emphasizes CEO Wittwen.