The Interim Management industry in Austria has seen steady growth in recent years, with a focus on turnaround projects and change themes requiring experienced strategists and implementers. To gain more insights into the Austrian market, we have talked to Thomas Tschol, Partner and Co-founder of Management Factory, which specializes in CFO and CRO roles.
What are the most demanded services in the Austrian Interim Management market?
“The largest growth in the use of interim services is observed in medium-sized companies, with a strong focus on change and restructuring. After the pandemic, this market has developed significantly, and we expect further growth. The current difficult economic situation, including supply chain issues and the situation in Ukraine, contributes to this demand. Apart from restructuring and large change projects, Environmental, Social, and Governance (ESG) themes are gaining importance, and I believe this will continue to grow immensely in the coming years. Companies value the quick deployment readiness and objectivity of external experts, especially in such situations.”
It is interesting to see how the market is evolving in response to various challenges and trends. How has Interim Management in Austria developed compared to other European countries?
“The development in Austria has been slower compared to countries like Germany. However, it is becoming an increasingly important management tool. Traditionally, interim services have been associated with crisis management, but we now see a rising demand in areas such as growth, innovation, development, sales, and digitalization.”
As the co-founder of Management Factory, can you share some insights into the company’s journey and the services you offer?
“My colleagues Gerhard Wüest, Reinhold Pfeifer and I started Management Factory in the early 2000s. Initially, we focused on advising and strategy, but we soon realized that clients were not effectively implementing our suggestions. To address this, we decided to offer both strategy and implementation as a new service on the market. This approach turned out to be successful.
In the beginning, it was challenging to compete with traditional management consulting firms, as clients did not always grasp the difference in our offers. However, as we combined consulting experience with management skills, we could provide analytically sophisticated – and above all – yet feasible solutions for our clients.”
Being one of the pioneers in the Austrian Interim Management market, what was the market like when you started Management Factory in 2001?
“When we started in 2001, we were the first company to offer this type of service. While the number of Interim Management suppliers has grown since then, there are no other companies specializing in CFO roles like we do. Our primary competition comes from Interim Managers themselves, who find their own assignments. Interim Management is not very well known in Austria, and most assignments are on the middle management level, but the market is growing rapidly. Currently, we are expanding our offering to include CRO, CEO, HR, IT, operations, and supply chain roles.”
Traditionally, interim services have been associated with crisis management, but we now see a rising demand in areas such as growth, innovation, development, sales, and digitalization.Thomas Tschol,
Partner, Management Factory, Austria
Which industries are utilizing interim services the most in Austria?
“Companies in various industries such as automotive, timber, mechanical engineering, metal processing, manufacturer of consumer products and retail are among the primary users of interim services.”
Read more about Management Factory here.
Management Factory is a member of the worldwide network of Executive Interim Management providers Valtus AllianceTM.