2 Oct2017

Invenias to Become Engine Room for Bay Street Advisors LLC

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Invenias to become engine room for Bay Street Advisors LLC

Leading executive search firm specializing in financial services looks to Invenias to help advance its intelligence-driven search and consulting business

New York, October 2, 2017

Invenias, the leading cloud-based platform for executive and strategic hiring, announced today that boutique executive search firm Bay Street Advisors LLC will implement its technology to help advance its intelligence-driven search and consulting businesses. Previously, Bay Street Advisors utilized FileFinder from Dillistone Systems, but found it required a system more capable of supporting the company’s significant growth trajectory and highly-demanding competitive intelligence based consulting practice. The Invenias platform will be used by all of Bay Street Advisors’ current staff – from its senior partners to its consultants, sizeable research department and even the administrative support team – and will become the “engine room” of the company going forward, powering its interactions with both clients and candidates.

Bay Street Advisors – which focuses on a highly selective group of financial services clients, including global investment banks, advisory firms, private equity investors, hedge funds, and insurance companies, among others – evaluated more than a dozen systems over the past year. The firm was primarily attracted to Invenias due it its user-friendly interface and efficient information delivery system. The firm’s leadership believes these characteristics will play a key role in ensuring all team members interact fully with the system, as many users found work arounds with the previous system.

Additionally, Bay Street Advisors wanted a system that enabled its consultants – many of whom travel extensively to meet the increasing demands of clients across geographies – to upload intelligence and share it in a timely and effective manner with the firm’s research team, clients and candidates. With Invenias, the entirety of the firm will be able to access the data they need at any time and from any location.

Kevin Mahoney, Partner at Bay Street Advisors LLC, commented: “Our brand mission is about helping our clients prosper through intellectual capital. Delivering on that starts with our best-inclass consultants and researchers, but also requires the support of efficient technologies. If access to data is fragmented and cumbersome, then it diminishes our ability to deliver our services effectively. Data is only valuable when we can access it and present it in a meaningful way, and with Invenias we will be able to transform how we operate from the beginning to the end of a client engagement. We now have the simplicity of use combined with unencumbered access to a mountain of invaluable, often complex data; data that Bay Street Advisors depends on to provide a highly sophisticated service to an ever-demanding market.” 

“Simply put, we needed a platform that would fit with our complex workflows and make it easier to collaborate with one another. Invenias will enable us to centralize our data management in order to drive our efficiency and focus on what matters most – adding value to our clients.” The implementation of Invenias will also open additional avenues for how Bay Street Advisors delivers projects. In the past, Bay Street Advisors has provided services to clients that have typically been the focus of only the leading management consulting firms, such as building business plans and offering financial projections for new teams and even whole divisions. These services were driven by the vast amount of data that Bay Street Advisors collects on a daily basis. However, this was a time-consuming and cumbersome process, with consultants needing to create shortcuts to access and analyze the information they required. Moving forward, data access, analysis and presentation will be simpler and faster, so Bay Street Advisors will be able to enhance its service offering.

David Grundy, CEO and Founder, Invenias said: “When you specialize in a certain sector, to survive and thrive you need to be able to really and truly differentiate. Our hope is that by streamlining Bay Street Advisors’ talent intelligence, we can equip them with a platform that accelerates their growth and opens up new market opportunities.”

Kevin Mahoney

Partner