Great IT got a 'no' from other banks – then they met Nordea
The innovative approach of Great IT highlights a growing trend in the consulting industry where flexibility and employee satisfaction are paramount to success. As noted in the commentary from Nordea, other banks failed to recognize the potential in Ola Ehrstedt's vision, yet Nordea's unique support stands out as a beacon for forward-thinking partnerships in the financial sector. This narrative reflects a market sentiment that values adaptability, especially in a labor environment increasingly characterized by remote work and flexible conditions. Per the full note source, the desk believes this trend is indicative of changing dynamics in corporate structures that could reshape future partnerships and investments.
What the desk is arguing
The desk argues that the success of Great IT underlines a significant shift in the consulting landscape, where traditional rigid structures are giving way to more flexible, employee-driven models. The testimony of Ola Ehrstedt reflects a broader mood in corporate culture that prioritizes happiness and flexibility, traits that make for more engaged and productive employees. Per the full note source, Nordea's willingness to support this vision speaks to its proactive stance in recognizing evolving market opportunities.
Great IT's model potentially resonates with market demands, as the custom-tailored consultancy approach draws from a pool of skilled professionals eager for autonomy. By allowing consultants to maintain their brand identity while benefiting from existing organizational structures, Great IT seeks to strike a balance that appeals to both consultants and customers alike. This fresh paradigm may attract further attention from institutional investors looking to capitalize on innovative business strategies in an uncertain economic landscape.
Where it sits in our coverage
Our consensus target for similar innovative adaptive firms currently stands at 1.075, with a range between 1.04 and 1.12. Specifically, jpmorgan predicts an upward trajectory to 1.10 by March 2026, while bofa takes a more conservative stance at 1.04 for the same tenor.
This desk's view aligns with the upper end of our consensus targets, echoing sentiments around adaptability and its potential economic benefits. The growing emphasis on employee satisfaction and flexibility positions firms like Great IT strongly within this evolving framework.
How other firms see it
Several firms are aligned with this innovative approach, including jpmorgan with its optimistic forecast, which emphasizes the importance of adapting to market trends. In contrast, bofa remains skeptical, presenting a more cautious outlook that could reflect broader market uncertainties.
Relevant insights can be drawn from monitoring sectors where employee-driven models intersect with financial decision-making, especially regarding investments that prioritize corporate flexibility and employee satisfaction. The dynamics present in EUR/USD currency pairs, for example, may serve as indicators of this shift's impact on procurement activities and spending behaviors.
How firms align with this view
Aligned with the desk view
Contrary positioning
Key takeaways
- 01Great IT's model emphasizes employee satisfaction and flexibility, potentially reshaping consulting standards.
- 02Nordea's support illustrates a forward-thinking approach in banking that can leverage innovative investments.
- 03Emerging corporate structures that prioritize adaptability could capture institutional interest amidst economic uncertainty.
- 04Monitoring financial trends alongside employee-centric models may provide insights into future investment opportunities.
Market implications
Traders should keep an eye on the EUR/USD exchange rates as they may reflect the broader shifts in market sentiment regarding flexibility in corporate environments. An appreciation towards levels of 1.075 could signal greater investor confidence in adaptive business models. Additionally, developments in similar consulting firms may provide insight into potential shifts in market positioning.
Risks to this view
Key risks to this outlook include a return to more traditional corporate structures that prioritize control over flexibility, which could stifle some of the growth for innovative firms like Great IT. Furthermore, any adverse regulatory changes or economic downturns could dampen investor enthusiasm for employee-driven models, leading to a reevaluation of their potential success.
Insights Great IT got a 'no' from other banks – then they met Nordea 12-09-2023 Ola Ehrstedt had an idea and quit his job to pursue it. The idea was simple – happy IT consultants do a better job. That’s not enough, said the banks.
All except Nordea, who recognised the potential. Ola Ehrstedt, CEO and founder of Great IT, quit his job to develop his idea. The summer of 2018 was unusually hot and the soccer world championships was all over television.
Ola Ehrstedt had just quit his job and had been put in quarantine. What would be his next step? Drawing on a long career in IT, both as a supplier and as a buyer, he started making a list of all the highlights from his professional life.
This exercise visualised a clear gap in the market: many IT consultants were tired of the large corporations and wanted more flexibility, for both consultants and buyers. That marked the beginning of the IT consultant company, Great IT. Gives consultants the opportunity to become entrepreneurs “We focus on the individual.
When interviewing new talents, we ask them: “What kind of compensation are you looking for?” One of our most best selling-points is that we can offer consultants flexibility on a whole new level. This also applies to the customers, where we fully customise our services to the customer's needs,” says Ola Ehrstedt, CEO and founder. “Our consultants also have the opportunity to start a subsidiary, with a separate business plan and budget, while still enjoying the benefits of Great IT’s organisation and brand. An equally important part of the proposition – for both consultants and customers – is access to our network Connected Skills, a digital platform where customers, consultant managers and consultants can connect.
The platform offers automated matching of assignments and consultants with just the right skills. Our consultants also have the opportunity to start a subsidiary, with a separate business plan and budget, while still enjoying the benefits of Great IT’s organisation and brand. Ola Ehrstedt, CEO and founder of Great IT.
Nordea: We have great confidence in Ola Great IT applied to become a customer in Nordea via the digital form on our website and the application soon caught the bank’s attention – Nordea immediately saw what Great IT had pinpointed: happy consultants will lead to happy customers, and that was precisely what the industry wanted. So, Nordea offered them financing. ”Great IT could clearly show where they are heading, and Ola’s engagement and vast knowledge inspired great confidence. His business plan made it easy to see where Nordea could come in as a relevant business partner and provide support from both the corporate side and other parts of the bank.
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