To our clients and friends:
Is this economy crazy enough for you?
It is difficult to recall a period during my career that has had such a swift and critical impact, for so many people and organizations. I certainly hope that you have been able to maintain some sense of security and normalcy. While it is tough to stay focused and positive during these times, that is exactly what we all must try to do in order to weather the storm.
Our clients across all industries are dealing with the effects—in various ways. For our banking clients, this economic crisis has underscored the importance of liquidity. Typically, banks have been able to sell the loans in their portfolios, borrow from other banks, or conduct stock offerings in order to maintain an optimal liquidity level. But, falling stock prices and the credit crunch have limited these channels—requiring them, instead, to focus on increasing customer deposits. This requires a renewed commitment to understanding their customers. In this issue of Best of the West, we highlight some of the keys to acquiring actionable customer insight.
Likewise, many of our colleagues in the professional services industry are facing an environment of deferred purchase decisions and longer sales cycles. Our Customer Solutions team outlines some steps that professional services organizations and their sales executives should be taking now to maximize their opportunities in a difficult market.
We also examine several other topics suggested by our clients:
Coming changes in the electric utility industry sparked by the combination of Smart Grid technology and plug-in hybrid electric vehicles.
Possible approaches for evaluating private equity fund performance in the absence of a single industry standard.
As we move into 2009, West Monroe Partners will continue to focus on our strengths in the private equity and mergers and acquisitions arena. As part of our commitment to this market, we are pleased to be a sponsor of and exhibitor at ACG InterGrowth 2009—the world’s largest middle-market dealmakers’ conference—to be held May 12-14, 2009, at the Wynn Las Vegas. More than 2,000 corporate executives and capital providers are expected to attend this event, which offers excellent opportunities to learn about best practices in corporate growth as well as to build your network of business relationships—even for those who aren’t actively pursuing a deal. You can learn more about ACG InterGrowth 2009 online. We hope to see some of you there!
Over the next few weeks, we will all have the chance to spend time with our families and friends, to reflect, and to recharge for the challenges ahead of us in 2009. I know most of us don’t expect the coming months to be easy ones, but from challenges often come new opportunities.
From the entire team at West Monroe Partners, we extend our sincere best wishes for the holiday season and for peace and prosperity in the new year.