Vnesheconombank and Expert Me have agreed to cooperate in promoting the Expert Platform, Russia’s leading provider of expertise. “Russian companies and foreign businesses that either have an existing presence in Russia or are looking to gain entry into our market can use the Expert Platform to get first-rate industry expertise from tens of thousands of leading independent consultants as promptly as possible. This also helps Vnesheconombank, as a development institution, to pursue one of its principal goals: creating the conditions for improving the quality of managerial decision-making; obtaining quick, high-quality and affordable expertise for investment projects; setting up high-technology start-ups and optimising the existing production processes in the real economy,” Vnesheconombank’s Senior Vice-President and Expert and Analysis Directorate Head Dmitry Ivanchenko said.
The Expert Platform will bring together business consultants, auditors, production managers, bankers, financiers, IT developers and venture investors. “Early-stage expert support adequately and promptly provided for projects considerably reduces their risks and makes it possible to avoid incorrect market assessments or business model mistakes, understand key factors in success in the niches in the market and create new jobs,” Dmitry Ivanchenko said.
Cooperation with Vnesheconombank provides innovators with new opportunities. “There are plans to reach our ambitious goal of creating the Russian market’s leading platform with fully digitalised services. Expert Me today is 3,000 industry experts, more than 200 completed projects and expert opinions a year. Our clients are companies in the real economy, consultancies. Together with Vnesheconombank, we have plans to increase the number of experts to 50,000 and reach several thousands of expert opinions per year. We are considering a new level in the long run: Russian expert services offered globally,” Expert Me CEO Ilya Bindyuk said.
In contrast to traditional consulting and other solutions, the Expert Platform promoted by Vnesheconombank and Expert Me provides high-quality advice from industry experts and offers prompt and affordable services. The Expert Platform will be of interest to Russian and foreign companies, banks, investment and venture capital funds, financial market participants and federal and regional authorities. The range of services offered is very comprehensive: consulting and auditing for business and financial models, performance evaluation for business units, potential expansion into new markets, market research and foresight, possible operations transformation.
With an annual turnover of more than 500 million US dollars, the expert services market has shown steady growth since 2010. According to IBISWorld, the three largest providers of expertise account for over 75% of the industry’s total revenue in 2017. There has been a trend towards higher market concentration over the past five years. As estimated by market participants, more than 500,000 projects are evaluated by experts networks every year.