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In its second year of operations Goldenberry has established valuable competences in fast growing sectors such us private healthcare and has completed setting up the remaining processes of a fully-fledged consulting company, including proprietary research and external communications.

Goldenberry team 2011

The company managed to execute on its strategy and derive most of its revenues from projects in economically promising industries such as private healthcare, technology and capital markets. Thus Goldenberry is not reliant on the banking sector, an area in which the company has traditionally strong credentials, but which is currently undergoing significant stress.

New clients have come from the private equity sector, including one of the most recognized London players, as well as from the pharmaceutical industry.

The company invested significant resources in pursuing large scale project opportunities over and above the size of typical engagements, as it seeks to become an end-to-end provider who can offer technologies delivered by partners as part of a complete solution.

These large opportunities did not convert to contracts in 2011 and therefore the revenues were in line with last year at a level of about PLN 700k. However, participation in these large tenders resulted in several valuable lessons, especially with regards to a strategy of partnerships with IT companies. As of February 2012, contracted or invoiced work amounts already to about half of 2011 revenues.

Goldenberry commenced cooperation with Oracle in the CRM area and with Tata Consultancy in the area of core processing systems for the financial sector. Relations were also established with local IT companies for opportunities related to custom IT development and customization.

During the year Goldenberry further differentiated itself by starting ongoing external communication activity supported by a professional agency. The company also executed its first primary research on customer service in cooperation with OBOP, the results of which were widely reported.

In the HR area, Goldenberry exhibited for the first time, as a premium local partner, at the Career Fairs in Warsaw in March. 2011 was also characterized by stability and the gradual buildup of a consulting team.

Goldenberry has two major goals for 2012.

The First is to further evolve towards offering complete solutions by complementing a company's business competence with the capability of proven IT partners.

The Second is to pursue high value consulting projects in the most developed EU markets.

Related previous news:

• Looking back at 2010