Navigant Consulting
Encyclopedia
Navigant is a specialized, global expert services firm dedicated to assisting clients in creating and protecting value in the face of critical business risks and opportunities. Through senior level engagement with clients, Navigant professionals combine technical expertise in Disputes and Investigations, Economics, Financial Advisory and Management Consulting, with business pragmatism in the highly regulated Construction, Energy, Financial Services and Healthcare industries to support clients in addressing their most critical business needs.
Based in Chicago
, Illinois
, Navigant has over 40 offices across the United States
, Canada
, Europe
and Asia
.
2009 revenues were $707 million. The company has been listed among Forbes' Best Run Small Companies and Fortune's Fastest Growing Companies. The company's stock is a member of the S&P 400
index.
(NYSE) under the ticker symbol “NCI.” The company’s new name was meant to reflect its ability to help clients navigate changing business conditions.
In 1998, The Metzler Group merged with Peterson Consulting, an information management and technology firm specializing in information services, data processing, damage assessment and quantifying lost profits, regulatory compliance, process operations management and litigation support. Under the terms of the merger, Peterson Consulting became a wholly owned subsidiary and independent operating unit of The Metzler Group.
Navigant then acquired Tucker Alan in February 2004, a privately-held litigation and business consulting firm specializing in core litigation support services. With offices in Los Angeles
, San Francisco, and Seattle, the Tucker Alan acquisition helped strengthen Navigant’s west coast presence and further develop the firm’s national platform.
Focusing its purchases on firms in the financial services and healthcare industry, Navigant bought the corporate finance consultancy Casas Benjamin & White in February 2005. The firm focused on corporate restructuring and transactional solutions. Several months later, the Tiber Group, a healthcare management consulting firm providing healthcare executives with strategic advisory services, was also purchased.
Other 2005 acquisitions included A.W. Hutchison, the construction litigation services firm assisting owners, contractors, and counsel with distressed engagements and projects in litigation, as well as the forensic accounting and litigation consulting and business valuation practices of Kroll Lindquist Avey in Canada
- a subsidiary of Kroll, Inc.
In March 2006 Navigant acquired Precept Programme Management Limited, an independent dispute advisory and program management consulting firm based in the UK. In December, the firm acquired HP3, a nationally recognized management consulting firm that assisted senior healthcare executives with clinical documentation, coding, and data solutions for improved reimbursement, compliance, and patient care.
In 2007 Navigant added two additional UK based consultancies to its portfolio: the program management and public procurement firm, Augmentis, in June 2007, followed by the Troika acquisition in August. Troika provided operational performance improvement solutions to organizations in the financial services industry.
Chicago Partners of Illinois was acquired in May 2008, adding economics expertise to the firm’s portfolio. Founded in 1994, it specialized in economic and financial analysis and assisted law firms, corporations and government agencies with securities litigation, antitrust, valuation and asset pricing, forensic accounting, intellectual property, and labor market discrimination.
In 2009 Navigant acquired The Bard Group, a Boston based healthcare consulting firm that provided physician leadership and performance improvement services to healthcare executives, community hospitals, and physician groups in programs designed to ensure physician engagement.
In early 2010, Navigant acquired Summit Blue, a leading energy efficiency and renewable energy consulting firm and the Washington DC based economics consulting firm, Empiris. In May, Navigant acquired Daylight Forensic & Advisory LLC, an international regulatory consulting and investigative firm specializing in financial investigations, AML consulting, regulatory compliance, forensic technology services, and fraud risk management.
Most recently the firm has acquired EthosPartner, a national healthcare consulting group specializing in physician and hospital alignment, physician practice operations management, and physician revenue cycle management.
and finance
. Consultants provide economic analyses of complex legal and business issues for law firms, corporations, and government agencies.
(EIU) to conduct a pulse survey on risk management effectiveness. The survey reached out to 180 financial executives globally and focused on the evolving role of risk management in financial institutions. According to the survey results, Financial Services companies are confident about their risk management systems. However, results suggest that the process surrounding them and ensuring effective implementation require improvement. In light of lessons learned from the credit crisis, Financial Services firms plan to pay more attention to the impact of risk on enterprise business and profitability, rather than merely complying with arbitrary levels of risk exposure and performance.
, Navigant conducted a study in 2008 to assess the current state of natural gas production in North America and determine the long-term viability of natural gas
as a clean energy solution. The study focused on natural gas production from three unconventional sources; tight sands, coalbed methane
, and gas from shale formations
. According to the study, the United States has enough natural gas reserves to last over 100 years. While all three natural gas sources have increased production in the last decade, natural gas production from shale formation had grown at an exponential rate to 5 billion cubic feet a day. Given the natural gas production of shale and recent technological advancements, researchers believe the U.S. has the potential to expand the use of domestically produced natural gas for power generation and even vehicle fuel. Navigant's conclusions as to the U.S. potential supply were considered radical at the time of the study, but have now been borne out by the industry and by the U.S. Energy Information Administration.[
and visual identity. As part of the new brand strategy, all former legacy companies and subsidiaries were united under the Navigant name.
In conjunction with the five-year anniversary of the brand launch, Navigant unveiled a new website in 2008. The new web site leverages virtual experience technologies to create an interactive forum for connecting with clients. The Knowledge Center, which invites users to explore business insights and perspectives in an interactive 3D environment, serves as a central repository for thought leadership. It provides information to clients through white papers, articles, reports, webcasts and videos. Visitors can read about issues that impact their business, including perspectives on the Credit Crisis and Renewable Energy
.
& Inclusion Program to its employees, which provides access to resources, information and programs that support individual and collective professional development and success. The program is also designed to ensure the organization continues to demonstrate the leadership competencies, values and the cultural attributes required to successfully attract, develop and retain top talent and key client relationships from the diverse and global markets the company serves.
During 2008, Navigant hosted a number of programs to help educate and empower young people such as the child mentorship program, Young Women’s Conference and Young Persons Programme in London.
Based in Chicago
Chicago
Chicago is the largest city in the US state of Illinois. With nearly 2.7 million residents, it is the most populous city in the Midwestern United States and the third most populous in the US, after New York City and Los Angeles...
, Illinois
Illinois
Illinois is the fifth-most populous state of the United States of America, and is often noted for being a microcosm of the entire country. With Chicago in the northeast, small industrial cities and great agricultural productivity in central and northern Illinois, and natural resources like coal,...
, Navigant has over 40 offices across the United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
, Canada
Canada
Canada is a North American country consisting of ten provinces and three territories. Located in the northern part of the continent, it extends from the Atlantic Ocean in the east to the Pacific Ocean in the west, and northward into the Arctic Ocean...
, Europe
Europe
Europe is, by convention, one of the world's seven continents. Comprising the westernmost peninsula of Eurasia, Europe is generally 'divided' from Asia to its east by the watershed divides of the Ural and Caucasus Mountains, the Ural River, the Caspian and Black Seas, and the waterways connecting...
and Asia
Asia
Asia is the world's largest and most populous continent, located primarily in the eastern and northern hemispheres. It covers 8.7% of the Earth's total surface area and with approximately 3.879 billion people, it hosts 60% of the world's current human population...
.
2009 revenues were $707 million. The company has been listed among Forbes' Best Run Small Companies and Fortune's Fastest Growing Companies. The company's stock is a member of the S&P 400
S&P 400
The S&P 400 MidCap Index, more commonly known as the S&P 400, is a stock market index from Standard & Poor's.It covers roughly the mid-cap range of US stocks.-Investing:The following ETFs attempt to track this index and sub-indexes:*Index Fund: &...
index.
Formation
Navigant Consulting was formed in 1999 under the name The Metzler Group Inc., a global management consulting company serving energy-based and other regulated industries. Founded in 1983 by Richard Metzler, the Metzler Group became a public company in October 1996, offering stock trades on the Nasdaq National Market under the ticker symbol “METZ.” In July 1999, the company received full shareholder approval to change the company’s name to Navigant Consulting, Inc. Shortly afterwards, Navigant Consulting’s stock listing was moved to the New York Stock ExchangeNew York Stock Exchange
The New York Stock Exchange is a stock exchange located at 11 Wall Street in Lower Manhattan, New York City, USA. It is by far the world's largest stock exchange by market capitalization of its listed companies at 13.39 trillion as of Dec 2010...
(NYSE) under the ticker symbol “NCI.” The company’s new name was meant to reflect its ability to help clients navigate changing business conditions.
Mergers and acquisitions
Navigant expanded its range of services and international reach through a number of acquisitions.In 1998, The Metzler Group merged with Peterson Consulting, an information management and technology firm specializing in information services, data processing, damage assessment and quantifying lost profits, regulatory compliance, process operations management and litigation support. Under the terms of the merger, Peterson Consulting became a wholly owned subsidiary and independent operating unit of The Metzler Group.
Navigant then acquired Tucker Alan in February 2004, a privately-held litigation and business consulting firm specializing in core litigation support services. With offices in Los Angeles
Los Ángeles
Los Ángeles is the capital of the province of Biobío, in the commune of the same name, in Region VIII , in the center-south of Chile. It is located between the Laja and Biobío rivers. The population is 123,445 inhabitants...
, San Francisco, and Seattle, the Tucker Alan acquisition helped strengthen Navigant’s west coast presence and further develop the firm’s national platform.
Focusing its purchases on firms in the financial services and healthcare industry, Navigant bought the corporate finance consultancy Casas Benjamin & White in February 2005. The firm focused on corporate restructuring and transactional solutions. Several months later, the Tiber Group, a healthcare management consulting firm providing healthcare executives with strategic advisory services, was also purchased.
Other 2005 acquisitions included A.W. Hutchison, the construction litigation services firm assisting owners, contractors, and counsel with distressed engagements and projects in litigation, as well as the forensic accounting and litigation consulting and business valuation practices of Kroll Lindquist Avey in Canada
Canada
Canada is a North American country consisting of ten provinces and three territories. Located in the northern part of the continent, it extends from the Atlantic Ocean in the east to the Pacific Ocean in the west, and northward into the Arctic Ocean...
- a subsidiary of Kroll, Inc.
In March 2006 Navigant acquired Precept Programme Management Limited, an independent dispute advisory and program management consulting firm based in the UK. In December, the firm acquired HP3, a nationally recognized management consulting firm that assisted senior healthcare executives with clinical documentation, coding, and data solutions for improved reimbursement, compliance, and patient care.
In 2007 Navigant added two additional UK based consultancies to its portfolio: the program management and public procurement firm, Augmentis, in June 2007, followed by the Troika acquisition in August. Troika provided operational performance improvement solutions to organizations in the financial services industry.
Chicago Partners of Illinois was acquired in May 2008, adding economics expertise to the firm’s portfolio. Founded in 1994, it specialized in economic and financial analysis and assisted law firms, corporations and government agencies with securities litigation, antitrust, valuation and asset pricing, forensic accounting, intellectual property, and labor market discrimination.
In 2009 Navigant acquired The Bard Group, a Boston based healthcare consulting firm that provided physician leadership and performance improvement services to healthcare executives, community hospitals, and physician groups in programs designed to ensure physician engagement.
In early 2010, Navigant acquired Summit Blue, a leading energy efficiency and renewable energy consulting firm and the Washington DC based economics consulting firm, Empiris. In May, Navigant acquired Daylight Forensic & Advisory LLC, an international regulatory consulting and investigative firm specializing in financial investigations, AML consulting, regulatory compliance, forensic technology services, and fraud risk management.
Most recently the firm has acquired EthosPartner, a national healthcare consulting group specializing in physician and hospital alignment, physician practice operations management, and physician revenue cycle management.
Dispute & Investigative
Navigant’s Disputes and Investigative professionals offer litigation consulting, forensic accounting and financial investigations, damages analysis, business valuation, and discovery management to corporate counsel and law firms. This team provides expert testimony in matters involving the state and federal courts as well as administrative and regulatory proceedings and international arbitrations.Financial Advisory
Navigant’s dedicated corporate finance business unit, Navigant Capital Advisors (NCA) serves the middle market Investment Banking, Restructuring, Valuation, and Transaction Advisory needs of companies, private equity groups, lenders, and other creditor constituencies.Economics
The Economic Consulting practice is composed of academic and industry professionals with backgrounds in economicsEconomics
Economics is the social science that analyzes the production, distribution, and consumption of goods and services. The term economics comes from the Ancient Greek from + , hence "rules of the house"...
and finance
Finance
"Finance" is often defined simply as the management of money or “funds” management Modern finance, however, is a family of business activity that includes the origination, marketing, and management of cash and money surrogates through a variety of capital accounts, instruments, and markets created...
. Consultants provide economic analyses of complex legal and business issues for law firms, corporations, and government agencies.
Management Consulting
The Management Consulting professionals provide operational, performance and regulatory assistance to companies undergoing significant business challenges across a variety of industries including Energy, Financial Services, Government and Healthcare.The Risk Management Paradox
Navigant partnered with the Economist Intelligence UnitEconomist Intelligence Unit
The Economist Intelligence Unit is part of the Economist Group.It is a research and advisory company providing country, industry and management analysis worldwide and incorporates the former Business International Corporation, a U.S. company acquired by the parent organization in 1986...
(EIU) to conduct a pulse survey on risk management effectiveness. The survey reached out to 180 financial executives globally and focused on the evolving role of risk management in financial institutions. According to the survey results, Financial Services companies are confident about their risk management systems. However, results suggest that the process surrounding them and ensuring effective implementation require improvement. In light of lessons learned from the credit crisis, Financial Services firms plan to pay more attention to the impact of risk on enterprise business and profitability, rather than merely complying with arbitrary levels of risk exposure and performance.
Credit Crisis Litigation Doubles in 2008, Navigant Consulting Study Finds
Navigant conducted a study on the number of subprime-related filings in 2008. The study shows that cases filed in federal courts in 2008 were twice the number filed in 2007. According to the report, “2008: Seeking Relief,” the credit crisis produced 576 new litigation matters in U.S. federal courts. The number of filings peaked at 179 cases in the first quarter of 2008, but new cases continued to be filed through the year and even trended up slightly following the Lehman bankruptcy filing in September 2008. According to this report, new subprime-related litigation matters will continue to increase in 2009.North American Natural Gas Supply Assessment
Commissioned by the American Clean Skies FoundationAmerican Clean Skies Foundation
American Clean Skies Foundation is a 501 nonprofit organization devoted to research and debate on clean energy. ACSF's mission is to promote understanding and discussion of issues related to energy--to expand America's energy options....
, Navigant conducted a study in 2008 to assess the current state of natural gas production in North America and determine the long-term viability of natural gas
Natural gas
Natural gas is a naturally occurring gas mixture consisting primarily of methane, typically with 0–20% higher hydrocarbons . It is found associated with other hydrocarbon fuel, in coal beds, as methane clathrates, and is an important fuel source and a major feedstock for fertilizers.Most natural...
as a clean energy solution. The study focused on natural gas production from three unconventional sources; tight sands, coalbed methane
Coalbed methane
Coalbed methane or Coal Bed Methane, coalbed gas or coal mine methane is a form of natural gas extracted from coal beds. In recent decades it has become an important source of energy in United States, Canada, and other countries...
, and gas from shale formations
Shale gas
Shale gas is natural gas produced from shale. Shale gas has become an increasingly important source of natural gas in the United States over the past decade, and interest has spread to potential gas shales in the rest of the world...
. According to the study, the United States has enough natural gas reserves to last over 100 years. While all three natural gas sources have increased production in the last decade, natural gas production from shale formation had grown at an exponential rate to 5 billion cubic feet a day. Given the natural gas production of shale and recent technological advancements, researchers believe the U.S. has the potential to expand the use of domestically produced natural gas for power generation and even vehicle fuel. Navigant's conclusions as to the U.S. potential supply were considered radical at the time of the study, but have now been borne out by the industry and by the U.S. Energy Information Administration.[
Name and Branding
In March 2003, Navigant announced the launch of its new brandBrand
The American Marketing Association defines a brand as a "Name, term, design, symbol, or any other feature that identifies one seller's good or service as distinct from those of other sellers."...
and visual identity. As part of the new brand strategy, all former legacy companies and subsidiaries were united under the Navigant name.
In conjunction with the five-year anniversary of the brand launch, Navigant unveiled a new website in 2008. The new web site leverages virtual experience technologies to create an interactive forum for connecting with clients. The Knowledge Center, which invites users to explore business insights and perspectives in an interactive 3D environment, serves as a central repository for thought leadership. It provides information to clients through white papers, articles, reports, webcasts and videos. Visitors can read about issues that impact their business, including perspectives on the Credit Crisis and Renewable Energy
Renewable energy
Renewable energy is energy which comes from natural resources such as sunlight, wind, rain, tides, and geothermal heat, which are renewable . About 16% of global final energy consumption comes from renewables, with 10% coming from traditional biomass, which is mainly used for heating, and 3.4% from...
.
Diversity
Navigant offers a DiversityDiversity (business)
The "business case for diversity" stems from the progression of the models of diversity within the workplace since the 1960's. The original model for diversity was situated around affirmative action drawing strength from the law and a need to comply with equal employment opportunity objectives...
& Inclusion Program to its employees, which provides access to resources, information and programs that support individual and collective professional development and success. The program is also designed to ensure the organization continues to demonstrate the leadership competencies, values and the cultural attributes required to successfully attract, develop and retain top talent and key client relationships from the diverse and global markets the company serves.
Corporate Citizenship
Navigant’s[ Corporate Citizenship] program is an employee driven initiative focused on volunteerism and charitable giving. According to the company’s 2008 client annual report, employees have engaged in non-profit board service and pro bono work, and participated in over 60 charitable events. The firms charitable trust program, Lending A Hand foundation, has supported over 200 organizations committed to health and wellness, education and community welfare.During 2008, Navigant hosted a number of programs to help educate and empower young people such as the child mentorship program, Young Women’s Conference and Young Persons Programme in London.
King-Harbor Accounting Scandal
In 2005, Navigant Consulting was accused of overcharging Los Angeles County in a contract to work at Martin Luther King Jr.-Harbor Hospital in Willowbrook, CA. County auditors rejected over $206,000 in expenses including unauthorized first-class airfare to and from Los Angeles and determined that Navigant had deleted from their to-do list a number of tasks and goals that they had failed to accomplish. Despite Navigant's work, King-Harbor failed to meet federal standards for Medicare funding in 2006. prompting the county to undergo a radical restructuring plan for the hospital.Accolades
- MCA Management Awards, Business Strategy Award, 2009
- Best Place to Launch a Career, Business Week, 2007
- 200 Best Small Companies, Forbes, 2006
- The Top 25 Consultants 2006 (Julie Howard, President & COO) Consulting Magazine, May/June 2006
- Hot Growth Companies, Business Week, 2005
- The Hot 100, Fortune, September 2005
- 200 Best Small Companies, Forbes, November 2004
- The Top 25 Consultants 2004 (William M. Goodyear, Chairman & CEO) Consulting Magazine, July 2004