In my role as Managing Partner for Deloitte Consulting in the Nordics, I’ve been part of quite a few acquisitions over the years. Some were small, some were large – but all of them were different in their own way as they served different purposes in our organisation.
Recently we announced yet another acquisition into our Deloitte Consulting family. Today, 1 July 2021, we will officially be joined by 30 consultants from Syncronic, one of Denmark’s leading consulting companies working with Digital Supply Chain advisory and implementation.
Announcing this to the world after months of dialogue and preparation was a huge pleasure, and a huge relief as well. But it’s also a time of reflection because, as it goes with these processes, you don’t just learn a lot about the other party; you also learn a lot about yourself.
In this light, I want to share some of my personal thoughts on this process with you, hopefully answering the questions of why we approached Syncronic, what happened afterwards, and what we expect from the future.
The first meeting
When you’re thinking about acquiring another company, the first question is of course why it makes sense from a strategic and commercial perspective.
With Syncronic this question was relatively easy to answer as they bring a unique set of competencies that are a perfect match to our ambition of being the number one digital transformation partner in the Nordics.
I am of course talking about Digital Supply Chain Transformation, which has probably never been more relevant than right now where so many companies face dramatic volatility in demand and rapidly changing consumer behaviour. Add to this the forces of industry consolidation, increasing costs and demands for sustainable innovation, all of which make supply chain a critical component for anybody seeking to reconfigure the organisation for the future.
No love at first sight
To me, it was an easy decision to approach the Syncronic leadership team. Our first meeting took place a little over a year ago in Brøndby, and I’m not afraid to tell you that they were definitely not interested in joining Deloitte.
I totally got it! We’re a huge organisation – more than 300,000 employees worldwide – and although the size and volume offer significant opportunities, it’s only fair that one would fear becoming an insignificant piece in the puzzle.
The best relationships are not necessarily love at first sight, and although we weren’t exactly on the same page, there was still enough interest to start a dialogue.
One of the things that quickly became clear to me is that in order to move forward, we had to start dispelling the myths: Yes, Deloitte is a big organisation, but we still maintain the closeness of a small firm. Our partnership operates in a structured way, but we still have the autonomy to make the right decisions when we go out to the market. Yes, we’re team-based organisation, but we still see the individual and make room for everyone to grow. And we are hardworking, ambitious and hopefully high-performing, but we still want to be a workplace that cares about cultural values such as empathy, diversity and inclusion.
Did we persuade the Syncronic leadership team right away? No. But they were interested enough to continue the conversation, learn more about our values, and eventually make us all realise that far more unites us than divides us.
A bright future ahead
And here we are months later, with a signed deal, and I can safely say that I continue to be impressed by the entire Syncronic team. I’m impressed by their competencies, their reputation and the brand value they have achieved over the last 15 years, building an organisation with some of the best supply chain experts you can get.
What this means is that on July 1st, we are not only welcoming 30 new colleagues into our Deloitte family; we are also creating the strongest supply chain and operations team in any consulting firm across the Nordics. This is dream come true for me.
Together, we will go out in the market and deliver end-to-end digital transformation to our clients, which is what they demand and expect from us. We will deliver on the broad transformational agenda, and we will be able to dig deep into the engine room when it comes to the core systems of the company. SAP is of course one of these systems, and the Syncronic team comes with very strong SAP competencies – a great addition to our ambitious Nordic SAP team, which already exceeds 200 people across Denmark, Sweden, Norway, Finland and Iceland.
Following a fiscal year, which has been one of the busiest in the history of our firm, we are looking into a market with high activity and very high ambitions. Whether we are talking about supply chain transformation, front-end transformation or overall business optimisation, our clients are taking leaps into the digital space in order to compete in the post-COVID-19 world, and we want to be there to support their journey.
So I’m very excited to welcome Syncronic to Deloitte. I’m excited for the competencies, the passion, and the will to make an impact that matters. I’m also excited and humbled that the owners of Syncronic have trusted us with the company they have nurtured for the last 15 years – I can’t wait to start working with them. After all, this transaction is not about money; it’s about entering a partnership, and it’s about lifting each other up, working as one, and delivering even better results to our clients. At the end of the day, that’s why we’re here.
Martin is the manager of Deloitte's Danish and Nordic consulting business and has more than 25 years of experience in advising Danish and international companies. Martin is at the forefront of developing a consulting practice across the Nordic region that can assist Danish and international companies on their most complex transformation journeys. This includes a focus on management, the establishment of ecosystems as well as on diversity in professionalism and competence.