Wavestone Consulting: A Agency Workers Love

In right this moment’s insightful dialog, we’ve got the pleasure of internet hosting Reetika Bir, a seasoned skilled within the consulting world, whose journey from the bustling streets of Gurgaon, India to the dynamic setting of Toronto and past exemplifies a relentless pursuit of progress and excellence. With a wealthy background that spans main roles at Deloitte, an impactful stint at Duke’s Fuqua Faculty of Enterprise, and her present management place at Wavestone consulting, Reetika affords an unparalleled perspective on navigating the complexities of consulting.
Her story is not only about profession development; it’s a story stuffed with priceless classes, strategic strikes, and the artwork of creating important business impacts. As we delve into her experiences, methods, and recommendation, we uncover the essence of what it takes to thrive within the ever-evolving world of administration consulting.

Wavestone Interview

Reetika, thanks for becoming a member of us right this moment! Are you able to present an outline of your background – the stops alongside the best way which have led you to the place you at the moment are?

After acquiring my bachelor’s diploma in enterprise research from College of Delhi, I began off my profession at one of many Huge 4. I labored of their Threat Advisory observe, initially on the Gurgaon workplace earlier than transferring to the Toronto workplace. Throughout my 6 years at Deloitte, I helped a number of Fortune 500 firms throughout numerous industries develop and optimize their enterprise and IT processes whereas additionally guaranteeing consistency with SOX tips. I then determined to get my MBA at Duke’s Fuqua Faculty of Enterprise. Publish commencement, I transitioned to Everest Group, which was acquired by Wavestone in 2021.

Earlier than you began with Wavestone, you obtained an MBA from Duke Fuqua Faculty of Enterprise. How did that have – and the abilities gained from it – form your profession trajectory?

My determination to acquire an MBA was pushed by a want to pivot in direction of consulting. At Fuqua, not solely was I in a position to develop a stable basis in enterprise rules but in addition hone my problem-solving and communication expertise, each integral to success within the consulting business. Partaking in various initiatives and collaborative studying environments allowed me to develop a strategic mindset and a capability to method advanced points with revolutionary options, whereas additionally broadening my community. The emphasis on management at Fuqua uncovered me to numerous management types and challenges which has geared up me with confidence and capabilities essential to navigate the dynamic panorama of consulting successfully.

You started your profession at some massive administration consulting corporations:

• What have been some causes that led you to a extra boutique agency like Wavestone?

• What are some variations you may spotlight that would assist candidates interested by consulting?

• Is there something distinctive to Wavestone concerning the staffing course of?

Whereas my profession at Deloitte laid a stable basis, popping out of enterprise college I knew I wished to work at a boutique agency like Wavestone that provides a extra intimate setting and doesn’t allow you to get “misplaced within the crowd”. Another variations between bigger corporations and Wavestone are:

Entry to Companions: At bigger consulting corporations, you primarily work with Managers / Senior Managers and infrequently have entry to Companions. At Wavestone, on account of smaller group sizes, you’ll probably begin working with a Companion from Day One. Being uncovered to that stage of pondering early on accelerates your studying and progress way more shortly in comparison with a bigger consulting agency.
Consumer Publicity: Much like the above, you start interacting with shoppers from Day One at Wavestone. Whereas your Managers / Senior Managers will assist you, you aren’t ‘shielded’ by a big group. This results in a a lot quicker studying curve.
Entrepreneurial Surroundings: As a rule, if you happen to can give you an thought, Wavestone will present you the sources to assist it. By advantage of being a smaller agency, we will be extra nimble and keep away from the ‘red-tape’ our bigger rivals face.

Wavestone’s staffing course of is exclusive in that:

1. 1. You’re assigned to a mission by your Profession Improvement Supervisor (CDM) and never a staffer; and
   2. It’s a nationwide staffing mannequin and never regional. Each week, there’s a staffing assembly to debate upcoming initiatives and obtainable sources to make sure alignment between staffing necessities and particular person pursuits. This ensures that as a lot as doable, consultants are engaged on initiatives they’re truly interested by. Moreover, the nationwide staffing mannequin affords a bigger pool of initiatives by way of mission varieties and industries (typically even worldwide initiatives) in comparison with a regional mannequin.

Beginning out at Wavestone as Senior Marketing consultant, you’ve steadily progressed to a Senior Supervisor. What recommendation would you may have for MBAs coming into the agency on the Senior Marketing consultant stage?

Whereas coming in as an MBA with prior work expertise offers you a leg up, you will need to understand that there shall be loads you don’t know while you first begin engaged on consulting initiatives.

My most vital piece of recommendation is to know what you don’t know, after which work out the place you could find the fitting reply. In consulting, you’re by no means going to know the reply to the whole lot however being resourceful and proactive to get to the fitting reply is likely one of the most vital expertise you may develop.

Second, don’t be afraid to roll up your sleeves and do the work. I by no means had any qualms about being probably the most junior individual on a group at the same time as an MBA and can nonetheless conduct information evaluation if I have to. Consulting is much less about particular person glory and extra about guaranteeing your group’s success.

Lastly, have enjoyable! We spend quite a lot of hours doing what we do, so you might as properly ensure you’re having enjoyable when you’re at it. The exceptional individuals you’ll meet at Wavestone make this half straightforward.

Let’s dive deeper into Wavestone’s choices within the US. What are the observe areas and which do you’re employed inside most steadily?

Wavestone presently has six distinct observe areas within the US –

*New MBAs coming in as Senior Consultants are uncovered to shoppers throughout all our enterprise circles,
and the number of industries inside them.

Whereas I’m most carefully aligned with the SSO observe space, I work carefully with leaders in different observe areas to debate the sorts of issues our shoppers are presently dealing with out there. Inside the SSO observe space, I assist shoppers optimize their sourcing methods, develop and remodel supply fashions to assist their enterprise aims, and help with vendor administration and governance actions.

May you describe a typical week as a Senior Supervisor at Wavestone?
What’s the most fulfilling a part of your position?

As they are saying, there is no such thing as a typical week in consulting. Generally, my week is constructed across the shopper conferences and deliverables due that week. Most days begin off with a group check-in to trace mission progress, talk about standing of duties assigned to every group member, and spotlight dangers or points for decision. All through the week, I take part in shopper conferences, present steerage to group members and be sure that the group is well-positioned to deal with any upcoming shopper wants.

Along with shopper work, I additionally take part in a number of different agency initiatives all through the week. As a Senior Supervisor, I take part in technique and enterprise improvement discussions with agency management, act as a CDM to six people, co-lead month-to-month SSO conferences, oversee improvement of inner information artifacts, and many others.

Essentially the most fulfilling a part of my position is unquestionably watching new consultants develop their expertise and are available into their very own over time. As an apprenticeship-based mannequin, we imagine one of the best ways to coach the following wave of consultants is by constantly demonstrating the abilities and behaviors that they should emulate. Along with being a CDM, I attempt to develop youthful consultants by giving them autonomy over assigned duties, offering steady suggestions and appearing as a job mannequin. To then watch these consultants attain the following stage is actually an amazing feeling.

Do you may have a favourite shopper engagement which you could talk about?
What sort of shopper was it, and what downside have been you fixing?

In gentle of COVID-19, a $7B not-for-profit healthcare system, one of many largest within the US, was dealing with uncertainty and requested Wavestone for help with decreasing its shared companies price from 12% to 10% of enterprise web service revenues.

We began off by reviewing 21 shared service features inside the group (representing 82.5% of the 2020 budgeted OPEX) to evaluate what the influence of delivering these companies beneath different supply fashions (e.g., different areas, automation, consolidation, standardization) could be. We recognized that by implementing different supply fashions throughout 5 of those features, the shopper would have the ability to obtain annual steady-state financial savings of 20%, thus reaching its aim.

We then proceeded to help the shopper with implementing these different supply fashions by growing an RFP that clearly captured the shopper’s focused aims, inviting related third-party service suppliers able to delivering in opposition to the shopper’s necessities, facilitating workshops between events to develop viable supply fashions, facilitating contract negotiations, and eventually, helping with transitioning to those new supply fashions.

There are a number of causes this mission ended up being one in all my favorites:

1. 1. The shopper determined to take a danger and undertake a large transformation throughout a time when different healthcare programs have been enjoying it protected;
   2. The Wavestone group, comprising of 25 people, needed to comply with a standardized course of, ship constant deliverables, and provide an identical ‘really feel’ to stakeholders throughout all practical areas, which required tight-knit collaboration always; and
   3. Upon seeing the monetary outcomes, a number of different healthcare programs throughout the nation began adopting this transformation mannequin.

For quickly to be graduates contemplating consulting – what core competencies and private traits do you discover to be most helpful or vital?

I discover that the next core competencies are most vital in consulting:

Structured Considering: The flexibility to method advanced issues in a scientific and arranged method is essential. A structured mind-set helps in breaking down issues, analyzing elements, and growing complete options.
Drawback-Fixing Abilities: You’ll usually end up addressing difficult and multifaceted issues. Robust problem-solving expertise, together with important pondering and analytical talents, are important for devising efficient methods and proposals.
Workforce Collaboration: I’ve mentioned this earlier than and I’ll say it once more, the flexibility to work seamlessly in a group is key in consulting. Groups assist generate various views, leverage collective strengths, and ship high-quality options. Constructing efficient communication and interpersonal expertise will aid you go a great distance.

Resume + Cowl Letter Edits

• 2 Rounds of Edits every on 1 Resume and 1 Cowl Letter
• Digital go: 24 templates, 5 e-books

Learn More

Black Belt

• 8 hours 1:1 Zoom periods with MBB coach of your alternative
• All Entry Go: 600+ circumstances, 10K+ math/construction drills, 9 video programs, 18 chatbot circumstances
• 2 Rounds of Edits every on 1 Resume and 1 Cowl Letter
• 1 12 months Membership to MC Group

Learn More

Private Questions:

1. Do you may have a high spotlight/reminiscence out of your time at Wavestone you may share?

My high spotlight at Wavestone would positively need to be attending WeSki this previous December! Yearly, Wavestone hosts a ski weekend in Alpes d’Huez (French Alps), bringing collectively Wavestone staff the world over. I had an unimaginable weekend partying networking and constructing relationships with my co-workers in numerous practices/places of work.

2. What’s the high piece of profession recommendation you’ve acquired?

A bit of recommendation that I acquired early on in my profession that has caught with me: “Once you ship a rocket to the moon, you don’t goal for the place the moon is true now however the place it will likely be when the rocket lands.” Which means put together your self for a profession based mostly on the place the business shall be sooner or later, and never the place it’s proper now.

3. When you might relive a Wavestone mission in any metropolis, the place wouldn’t it be and why?

It will probably be Jacksonville, FL. Whereas it was a demanding mission for a tricky shopper, we had an outstanding group, nice climate and a few terrific eating places that saved us going. The river-facing views from the shopper’s workplace didn’t damage both!

Conclusion

Reflecting on our dialog with Reetika Bir, it’s evident that her journey is a testomony to the ability of steady studying, strategic pondering, and the braveness to embrace change.

From her early days at Deloitte to her transformative contributions at Wavestone, Reetika’s profession is a beacon for aspiring consultants and enterprise leaders alike. Her insights into the nuances of consulting, from the worth of an MBA to the intricacies of boutique agency dynamics, provide invaluable steerage for these seeking to carve their very own paths on this aggressive subject.

Furthermore, Reetika’s private tales and the ethos of embracing challenges with a constructive spirit resonate deeply. As we conclude this partaking interview, it’s clear that Reetika’s experiences, recommendation, and reflections not solely spotlight the roadmap for skilled success but in addition underscore the significance of ardour, perseverance, and the pursuit of excellence in a single’s profession.

Extra Assets: