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Australia : WT partnership makes rapid inroads into india.

WT Partnership (WTP) is a 70-year-old organisation providing advisory and risk management services, infrastructure and construction cost management, quantity surveying, and building and engineering cost management for real estate, construction and infrastructure projects. The company employs 1,800 people in Australia, New Zealand, Asia, Europe, the Middle East and North America.

Most infrastructure, construction and real estate projects operate on thin margins. Fifty per cent of projects fail to meet their cost targets, resulting in cost overruns and margin compression. WTP has developed systems and processes designed to assist project developers to complete projects within specified costs. These processes are customised based on the unique requirements of each project.

In emerging markets, many project developers believe they have the necessary management systems and processes. Only when confronted with project challenges or when exposed to international partners do they see a gap in their practices and the need for specialist risk management expertise. Project developers value the blended experience and expertise of WTPs international and domestic staff, and draw on its international network, knowledge, insights, best practices and emerging trends across different markets.

A new frontier in India

India was a new market with rich opportunities for WTP. In 2015, WTP approached Peter Cox, an India market specialist, to conduct market research, and prepare a market entry strategy and a financial plan for its entry into India. Cox has developed and run consulting businesses in India for 20 years.

India is perceived as a price-sensitive market and a key part of Coxs research was to understand the market and prioritise customers that would see value in WTPs services, to justify WTPs premium pricing compared to domestically available alternatives.

Many international firms adopt a fly-in and fly-out model for developing business in markets like India before they set up their own operations. WTP made a decision early on that it had to have a presence in the market. The company evaluated various market entry models including partnerships with Indian companies or acquiring Indian startups. After considering various options, WTP set up a wholly owned subsidiary in India headquartered in Chennai. WTP also decided to recruit local managers and staff to serve customers in India.

WTPs original market research included one-on-one meetings with Austrades India team. Within a short period, the WTP board made the decision to enter the market. Austrades assistance and feedback contributed to the success of the market research and provided WTPs board the confidence to expand into India.

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Publication:Mena Report
Geographic Code:9INDI
Date:Oct 27, 2018
Words:422
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