The Rise of Consulting at ASGN

Consulting reached 47% of revenue in Q3 2022 across the company


ASGN is increasingly an IT services company. In our commercial business segment, consulting reached 29% of revenue in Q3 of 2022, while across the company it was 47%. We’re growing at five times the industry average, more than twice as fast as the next fastest growing IT services firm, and consulting services is where most of our growth is taking place. This part of our business has been accelerating since we started it 12 years ago, as digital technologies become more and more central to modern companies. 

We expect to be able to continue strong growth for three reasons:

  1. The first is that most of our accounts have a lot of room to grow. Our Apex brand has Master Service Agreements with more than 300 of the Fortune 500, and we are focused on growing our average annual account revenues by 3x as we expand into new areas within these relationships.
  2. Second, we will leverage our reputation and relationships in accounts where we are not yet providing IT services to triple our number of large business IT services clients. We have built the breadth and depth of technical expertise required for this growth and we are steadily increasing our capacity for high-demand, market-driven opportunities through strategic acquisitions such as GlideFast.
  3. Third, our service offerings are defined by our clients’ needs: what we’re taking to market is what they’ve asked us for. As technology and business change we will continue to listen and reshape our offerings. 

Our transition to consulting started because we had developed deep relationships with our accounts and earned the status of a trusted partner. Value-added services is what our customers were asking for. Our growth shows how well this approach works, and we believe we can sustain our success going forward.  

Our service offerings are defined by our clients’ needs – what we’re taking to market is what they’ve asked us for

Based on our clients’ recurring needs, we’ve identified 18 service offerings that today have deep demand. We expect the number and definition of these to change as customer needs evolve; we are continuously adjusting our repertoire, through acquisition and focused organic growth, to robustly deliver the current solution set. The services span the three categories you’ve heard us talk about: digital transformation, modern enterprise, and workforce mobilization. All of them are central to 21st century business. 

Our deployment model facilitates our responsiveness to client needs. With a blend of 15% full time engagement management and technical consultants and 85% contract talent we can bring in the right mix of skills and subject matter experts to each job, for the right amount of time and at the right price, while keeping our utilization above 90%. The model has the added benefit of flexibility during demand cycles, which reduces our business risk. 

We have long and genuine relationships with our clients. We have the capability to move quickly and adjust responsively. We deliver strong results, very cost effectively to our clients and profitably for us, which enables us to take market share from competitors. In addition to these foundational advantages our business sits on the rising tide of an expanding market: from 2017 to 2023 IT consulting in the US is on track to grow 18% to $665 billion (IBISworld), despite the other contractions that are evident in the economy. We believe we can currently compete for $379B of this market and grow that number as we add capability. Greater share times growing market equals continued strong growth.

In essence we’ve discovered a vacuum between pure staffing and the “traditional” consulting offered by the Big 4 and the GSI’s. In that opening there is enormous value to deliver. We have positioned the ASGN of today to meet the wide scope of this growing demand.

Consulting at ASGN means listening to the customer and providing exactly the services required, responsively and cost-effectively. This is the future of our business.

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