Object Ware Group was founded by two business partners in 1999. Jeff Ruimy, an engineer, and David Pinto, who previously worked as a consultant, had gained essential expertise in the banking and consulting segment and established Object Ware Group. Over the years, the company grew significantly.
After having analysed the customer portfolio in 2003, the managing directors decided to specialize in one particular business area and became a pure player in the banking and insurance sector. “Only as a pure player could we survive in the market as a credible service provider,” explains Jeff Ruimy, founder and managing director of Object Ware Group. “Our positioning as a specialist lead to further economic growth.”
Today, only very few pure players still exist in the French market. “Over time, a lot of them have been acquired by large enterprises or developed into generalists,” states the managing director. “We, on the other hand, have stuck to our entrepreneurial strategy and pursued geographical growth.” For this reason, Object Ware Group purchased a company from Strasbourg, France, including its foreign office in Luxembourg. The latter provided essential competitive advantages, for example its close proximity to France, a common language and a strong banking segment.
Our positioning as a specialist leads to further economic growth.” Jeff Ruimy
“By these means, we have won both a big customer from Strasbourg who required a local presence and our first foreign market,” says Mr. Ruimy. “As a result, our revenues increased from 13 million EUR to 20 million EUR last year, and additional 70 employees were hired. All in all, we rely on a team of 250 employees.”
Apart from its headquarters in Paris, France, the owner-operated company maintains locations in Strasbourg, France, and in Luxembourg to carry out its services as close as possible to its demanding customers. Notable references include enterprises like AXA, Generali, BNP Paribas and Crédit Agricole.
“We offer IT consulting work for specific projects,” explains the managing director. “Usually, our skilled experts are directly integrated into the client’s team and execute their work on site.” Object Ware Group attaches great importance to human resources and provides its employees with many opportunities for further development. “We always adhere to our agreements and place emphasis on in-house transparency,” states Mr. Ruimy. “Furthermore, our company provides a good salary, educational seminars and innovative technologies.”
Despite these promising structures, Object Ware Group was affected by recent financial crises that hit markets all over Europe. “Intense price pressure resulted in reduced margins,” says the managing director. “Hence the motivation of our Strasbourg company takeover was given: Losses could only be offset by increased contract volumes.”
Although more than 50% of the consultancy demands of financial and banking enterprises is realized through external companies, the latter have to fulfil high standards and become listed as reliable partners. “Hard work is required, and the process often lasts several years,” explains Mr. Ruimy. “The listing itself does not guarantee success. The participating company constantly has to prove its capabilities and ensure the quality of its services.”
In the future, Object Ware Group strives to expand its portfolio of services. “Internationalization processes will be expedited,” states the managing director. “Since we have several customers in Belgium and Portugal, related offices in these markets provide great potential. Being a pure player with a high level of expertise and technical knowledge, we are optimistic about the future. Customers in domestic and foreign markets are aware of our excellent reputation.”