Bain & Company opens an office in Rio de Janeiro, Brazil

05 August 2011

International strategy consultancy Bain & Company has opened a new office in Rio de Janeiro. The office will be led by three Bain partners.

In a press statement, Giovanni Fiorentino, chairman of Bain & Company in South America, said that the launch of the firm’s latest hub is in response to the surge in demand for strategic advisory services in the region, driven by the approaching 2014 World Cup and growing demand from the oil and gas sector.

According to analysts, Rio de Janeiro will become one of the world's hottest destinations for oil and gas companies and investors over the next number of years. Recently, a huge "pre-salt" offshore oil field was discovered off the coast of Rio de Janeiro. Pre-salt oil fields are found in deep-sea areas under thick layers of salt; extraction is difficult and technology intensive, thus requiring large-scale investment for extraction. As such, big petroleum multinationals like Schlumberger, Petrobras, and BP are already setting up shop in the area.

Bain & Company opens an office in Rio de Janeiro, Brazil

Semi-public Brazilian multinational Petrobras – a specialist in deep-water oil extraction – has on the back of the news announced that it will invest $224 billion in the coming years to win rights to the oil field. It is expected that the oil field discovery will double the number of barrels produced in Brazil to 4 million barrels per day within 6-7 years. Brazilian oil production is further expected to grow to 6 million barrels within 12-13 years. 

The hosting of the 2014 World Cup is another development which is set to provide a huge boost to Brazil’s consulting industry. In preparation of the globe’s largest sporting event, public and private sector institutions are investing heavily in industries including tourism, hotels, infrastructure and telecom.

Bain & Company has meanwhile started the recruitment drive for its new Rio de Janeiro office, a feat which Fiorentino admits will be a challenge. Bain recruits the brightest minds in the countries it is active in, and in its search for talent competes with the likes of McKinsey & Company and The Boston Consulting Group. “It is a large challenge to find suitable talent because everyone is after the same talents,” said Fiorentino.


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Argentinian software consultancy APG Consulting enters Bolivia

25 February 2019

Argentinian professional services firm APG Consulting has expanded into Bolivia, growing its presence in Latin America to six countries. 

Founded in 2003, APG Consulting is a software consultancy that supports its clients with digitizing procurement and finance, and with document management. The firm’s Comfiar solution allows organizations to generate, send and store invoices in a robust and safe environment, while supporting procurement, finance and regulatory processes. APG Consulting’s AFM solution is a document management system (DMS) that helps companies with organizing, managing and securing documents in a standardized environment.

Across Latin America, APG Consulting currently over 1,000 customers, with Bolivia the next market targeted as part of the firm’s strategy to lift its client base to over 1,500 in the coming years. The expansion follows on previous forays into Colombia, Costa Rica, Ecuador and Peru. Headquartered in Buenos Aires, the IT consulting firm has around 80 employees. 

The move comes at a time when electronic invoicing is a major theme in Bolivia. In March of this year, the country’s National Tax Service (SIN – Servicio de Impuestos Nacionales) is implementing new regulation that advocates electronic invoicing. For companies, this means that they need to adopt e-invoicing of not already in place, and for those that currently do use the feature, changes may be required in system setup, processes, data management or governance. 

Argentinian software consultancy APG Consulting enters Bolivia

APG Consulting is aiming at implementing its Comfiar solution, which has been tailored to meet SIN’s requirements, at both private and public sector organizations in Bolivia. Meanwhile, companies that already have a system in place can tap the Argentinian-origin consultancy for software services and change management support. According to Matías Cherepinsky, commercial manager of APG Consulting, organizations must not only look at the technical side of electronic invoicing, but also keep the cultural side of change in mind. Employees in procurement and finance will need to adopt new ways of working, meaning that they need to receive training and coaching in order to successfully complete their new tasks.

According to Daniel Ayoroa, a legal manager at Agentax, electronic invoicing still is in its infancy in Bolivia. Organizations therefore are open to bringing in the expertise of experts that have an established track record gained abroad, where e-invoicing is more mature. He added that he believes the approach can lead to a major modernization of procurement and tax functions throughout the country.

Earlier this month, accounting and consulting firm BDO also entered the Bolivian market with the addition of KPI Auditores y Consultores to its global member firm network. In December last year, Tufiño Villegas, which has offices in La Paz, Santa Cruz and Cochabamba, joined Andersen Global’s international association.