Professional Services Practice

Patrick Heffernan, Practice Manager & Principal Analyst



Coverage and Focus Areas
IT Services, management consulting, global delivery, strategy and operations, cloud, intelligence cycle, project management, and client engagement

Role and Responsibilities
Patrick Heffernan is practice manager and principal analyst in TBR’s Professional Services Practice. Patrick directs the practice’s syndicated portfolio and cultivates and manages projects on topics ranging from management consulting to firms’ financial advisory services to emerging technologies. Patrick’s responsibilities tap his expertise in competitive intelligence, strategy, and global political-economic impacts on business cycles and consulting vendors.

Experience and Background
Prior to joining TBR Patrick was part of a Big Four firm’s competitive intelligence team, conducting field work and analysis. His professional career started in diplomacy, with Middle East postings as a foreign service officer with the State Department and counterterrorism assignments with the National Security Council and the U.S. Department of the Treasury.

Patrick received a B.A. from Washington and Lee University and an M.A. in foreign affairs from the University of Virginia.

Ramunas Svarcas, Principal Analyst



Coverage and Focus Areas
Cloud professional services, BI and analytics, information technology consulting, system integration, management consulting, advisory services of the Big Four, health information technology, convergence of IT and network services, application and business process outsourcing

Role and Responsibilities
Ramunas Svarcas, a principal analyst in TBR’s Professional Services Practice, is focused on analysis of professional services companies, their strategies, processes, profitability and operational dynamics in the ever changing services industry. Ramunas is the lead analyst responsible for coverage of Deloitte, Bain, Cisco, Unisys and HCL Technologies.

Since joining TBR Ramunas has been involved in formulating and implementing custom research projects, acting as engagement manager for key TBR clients, and presenting TBR’s capabilities to new clients. He brings more than 40 years of experience in technology analysis, business marketing research and forecasting. As a past user and provider of marketing research and consulting services, Ramunas is in the unique position of being able to analyze and assist clients in formulating research work, and then executing to provide them with the desired information.

Experience and Background
Prior to joining TBR in 2001 Ramunas worked for the McGraw Hill Cos., managing staff supporting numerous syndicated research projects, custom projects and multiclient studies as well as performing econometric modeling and forecasting. Before McGraw Hill he worked for the Goodyear Tire and Rubber Co., executing marketing research projects and assisting in the design, development and implementation of a computer-based marketing decision support system.

Ramunas holds an M.S. in management from the Weatherhead School of Management at Case Western Reserve University in Cleveland, with concentrations in areas of marketing and marketing research, as well as a B.S. in chemistry from Case Western Reserve University.

Elitsa Bakalova, Senior Analyst



Coverage and Focus Areas
Management consulting, IT consulting, systems integration, application outsourcing, ITO, BPO, cloud, business intelligence (BI) and analytics, mobility, industry IT services (e.g., banking and financial services, healthcare, public sector, and energy and utilities), global service delivery, custom research, financial modeling, benchmarking

Role and Responsibilities
Elitsa Bakalova provides research; strategic assessments; evaluations of corporate performance, revenue, cost and profitability modeling; and overall trend and market analysis on the IT consulting and outsourcing industries. Elitsa’s primary research and coverage focus includes vendors such as IBM Global Services, Accenture, Capgemini, Atos, T-Systems, Unisys and Cisco Services. She analyzes the financial performance, strategies, corporate business model, strengths and weaknesses, go-to-market strategies, and acquisition and partner strategies of covered companies. She is the lead author of the IT Services Vendor Benchmark, a competitor evaluation of 30-plus professional service providers covered by the Professional Services Practice. Elitsa’s analytical commentary has been quoted by various online sources.

Previous Experience and Background
Prior to joining TBR in 2005, Elitsa was a research associate at the Center for Venture Research at the University of New Hampshire, where she conducted research on the equity financing of New Hampshire startups. She also conducted research and analysis, and developed summaries of IT industry trends in support of academic research at the University of New Hampshire. Elitsa has experience in the banking industry and worked as a consumer and mortgage loan officer for Piraeus Bank in Bulgaria, a leading international bank based in Greece. She was part of a creative team at a leading international advertising agency and was responsible for TV, radio, print and outdoor advertising campaigns for Procter & Gamble, Western Union and Philips in Bulgaria. Elitsa speaks several languages, including English, Bulgarian and Greek.

Elitsa earned her MBA from the University of New Hampshire, Peter T. Paul College of Business and Economics, and received a B.S. in tourism and hospitality management from the University for National and World Economy in Bulgaria.

John Caucis, Senior Analyst



Coverage and Focus Areas
Customer satisfaction, market research surveys, cloud computing, industry and vertical trends, mobility, cybersecurity, C4ISR, management consulting, government IT, outsourcing, systems integration, IT consulting, strategy consulting, BPO, IaaS, SaaS, BPaaS, platform-based solutions, testing, product engineering

Role and Responsibilities
As a senior analyst in TBR’s Professional Services Practice, John Caucis provides client-specific research and analysis, including primary and secondary research, for specialized programs. John’s focus area is healthcare IT services, primarily following the healthcare activities of Accenture, IBM Global Services and DXC Technology, with limited coverage of 18 other IT services vendors. John’s areas of expertise also include IT consulting, management consulting, IT outsourcing, BPO, application development and maintenance, and systems integration.

Experience and Background
John has also led the Public Sector group in TBR’s Professional Services Practice and covered vendors including Infosys, Northrop Grumman Information Systems & Technical Services, L-3 Communications, Booz Allen Hamilton, CACI International, and Raytheon Intelligence, Information & Services.

Prior to joining TBR in 2001, John was an operations supervisor with a restaurant management company in New Hampshire. His responsibilities included recruiting and hiring, training, coordinating employee scheduling for managers and non-managers, inventory management and product ordering, equipment maintenance, maintaining product quality, food safety, and supporting shift management. John was promoted to operations supervisor after completing a series of basic, intermediate and advanced operations training programs.

John holds an MBA with honors from the University of New Hampshire’s Whittemore School of Business & Economics as well as a B.A. with honors in political science, also from the University of New Hampshire.

Jennifer Hamel, Senior Analyst



Coverage and Focus Areas
IT consulting, management consulting, systems integration, application outsourcing, ITO, BPO, industry IT services (e.g., healthcare, public sector), analytics and insights professional services

Role and Responsibilities
Jennifer Hamel is a senior analyst in TBR’s Professional Services Practice, where she is responsible for coverage of IBM Global Services, with additional focus on IBM’s healthcare IT services and management consulting businesses. Jennifer launched TBR’s Analytics & Insights Professional Services coverage, which includes customer research and market forecast reports and a vendor benchmark. She also offers research and data analysis for many of TBR’s benchmarks, custom reports and projects, and she delivers company-specific strategic assessments to TBR’s clients. Jennifer’s commentary has been cited in sources such as IT Business Net, TechTarget, Triangle Business Journal, ChannelLife Australia, Diginomica, The Hindu Business Line and Live Mint.

Experience and Background
Prior to joining TBR, Jennifer was manager of Client Services at Havens & Co. Inc., where she provided employee benefits brokerage and consulting services to corporate HR departments. Before transitioning to consulting, Jennifer practiced bankruptcy, taxation and estate planning law at a private firm in New Hampshire, having earned bar licenses in Maine and New Hampshire.

Jennifer received a B.A. in history from Mount Holyoke College and a J.D. from the University of Maine School of Law. She won the Outstanding Achievement Award in the area of taxation from the University of Maine School of Law and published a case note in the Maine Law Review.

Bozhidar Hristov, Senior Analyst



Coverage and Focus Areas
Business process outsourcing, IT outsourcing, application outsourcing, consulting and systems integration, management consulting, cloud, digital marketing services, global delivery market landscape, healthcare IT services, business intelligence (BI) and analytics, custom research

Role and Responsibilities
Bozhidar Hristov is a senior analyst within TBR’s Professional Services Practice. Bozhidar leads and participates in research and analysis of the financial performances and strategic investments of the companies in the professional services market, including Accenture, Deloitte Consulting, Infosys and TCS. In addition to his quarterly benchmarking activities, Bozhidar leads TBR’s Digital Marketing Services research on Digital Marketing Services Vendor Profiles, Digital Marketing Services Benchmark, Digital Marketing Services Customer Buying Behavior and Global Delivery Benchmark. He also contributes to custom research for clients and financial modeling projects. Bozhidar’s commentary has been quoted by online sources such as The Hindu Business Line, Diginomica, CXOtoday, IT-TNA, PTeducation, Nearshore Americas, The Economic Times and Livemint.

Experience and Background
Bozhidar joined TBR as a research analyst in 2012, supporting TBR’s Professional Services team on syndicated reports, quarterly benchmarks and custom projects. While pursuing his graduate degree, Bozhidar conducted empirical research using valuation analysis to find the magnitude of correlation between frontier markets’ and emerging and developed markets’ financial performances. He then diagnosed frontier markets’ leading companies’ attractiveness to less-risk-averse investors. Bozhidar was a team lead on numerous academic projects, which included researching, analyzing and comparing quarterly financial data on IT vendors such as Apple and Dell and using regression analysis to forecast stock performance and make recommendations to prospective investors.

Bozhidar holds an MBA in finance from the Nova Southeastern University’s Huizenga School of Business and Entrepreneurship, from which he graduated with honors. He received a B.S. in electrical engineering from Technical University in Bulgaria. Bozhidar is fluent in English and Bulgarian and speaks conversational Russian and Polish.

Sebastian Lagana, Senior Analyst



Coverage and Focus Areas
Government IT and professional services contracting, management consulting, custom financial modeling, benchmarking

Role and Responsibilities
Sebastian Lagana is the lead public sector IT and professional services analyst, authoring thought leadership pieces, syndicated reports for each of TBR’s covered public-sector-focused companies and TBR’s quarterly Public Sector IT Services Benchmark. Sebastian is also heavily involved in client-facing engagements, presenting his findings on a quarterly basis in meetings with strategic and executive-level individuals at nearly all major U.S. federal defense contractors, as well as at a handful of commercial-centric multinational corporations.

Experience and Background
Sebastian joined TBR as a research analyst in 2011, supporting TBR’s Professional Services team on syndicated reports, quarterly benchmarks and custom projects. Prior to joining TBR, Sebastian was a sales and marketing support specialist for four years at hospitality research company Lodging Econometrics. His duties included contract drafting, database management, report production, content editing and client services. He also served as project manager for the American Lodging Investment Summit’s Development of the Year Award Committee, coordinating the nomination and voting process for one of the hospitality industry’s most prestigious awards.

Sebastian received a B.A. in English from the University of New Hampshire and an MBA with a concentration in finance from the University of New Hampshire’s Whittemore School of Business and Economics.

Cassandra Mooshian, Senior Analyst



Coverage and Focus Areas
Private cloud, hybrid cloud, managed services, cloud professional services, public cloud, cloud components, cloud business models, cloud go-to-market strategies, orchestration, hybrid IT, hybrid integration, brokerage, professional services, business intelligence, analytics, industry IT services, offshoring, healthcare IT services, mobility, global service delivery, social media, industry-centric solutions and services, security, integration

Role and Responsibilities
Cassandra Mooshian is a senior analyst in TBR’s Cloud Practice, responsible for coverage of multiline cloud vendors Dell, Fujitsu, HP and IBM as well as cloud pure-plays Rackspace, Appirio, AppDirect, Liaison Technologies, Jamcracker, Gravitant, MuleSoft, Odin and Cloud Sherpas. She is lead author on TBR’s Hosted Private Cloud Benchmark, Cloud Professional Services Benchmark and Cloud Brokerage & Integration Benchmark. She also leads TBR’s Hosted Private and Cloud Professional Services market forecasts. As part of TBR’s primary research team, Cassandra develops cloud customer research surveys, the results of which are published in TBR’s Cloud Customer Research program. As part of this program, Cassandra is lead author of the Private Cloud Customer Research and Cloud Professional Research reports, as well as semiannual topical research reports covering cloud security, cloud brokerage and more.

Cassandra brings extensive knowledge from TBR’s Computing and Professional Services practices, from which her interest in cloud was ignited, particularly around companies such as Dell, IBM, HP, Fujitsu, Cisco, Unisys and EMC that provide solutions incorporating hardware and professional services. Cassandra’s background in finance provides her with the analytical and mathematical skills to build custom financial models for TBR clients.

Experience and Background
Prior to joining TBR, Cassandra was a financial planner and adviser at Northwestern Mutual Financial Network. Cassandra was appointed team captain during her time at Northwestern Mutual and completed the educational requirements for and received a Producer’s Life, Accident and Health insurance license as well as a license to sell Long Term Care insurance, both in New Hampshire.

Cassandra received a B.S. in finance from the University of New Hampshire’s Whittemore School of Business and Economics.

Stephanie Artigliere, Analyst



Coverage and Focus Areas
IT services, management consulting, strategy and operations, cloud, analytics, security, digital marketing services, custom research, project management, client engagement

Role and Responsibilities
Stephanie Artigliere leads TBR’s management consulting research and has been involved in shepherding and shaping TBR’s Management Consulting Benchmark since its launch in 2011. Stephanie leads and participates in research and analysis of the financial performances and strategic investments of vendors in the professional services market, including Accenture, PwC, EY, The Boston Consulting Group and McKinsey & Co. She is involved in client-facing engagements such as delivery of company-specific strategic assessments to TBR’s clients and supports many of TBR’s professional services benchmarks, custom reports and projects. Stephanie balances her analyst work with training and professional development of research analysts within the Professional Services practice.

Prior to her current work, Stephanie supported delivery of TBR’s IT Services Vendor Benchmark and covered Atos, Capgemini, IBM and T-Systems. She also oversaw operations of TBR’s Professional Services, Cloud and Software Practices, including onboarding and managing research analysts within these practices.

Experience and Background
Prior to her role as analyst, Stephanie joined TBR in 2011 as a researcher and then became a research analyst. She graduated cum laude from Lafayette College with a double major in economics & business and English. She graduated with honors in economics and business after writing an extensively researched honors thesis, which she presented at the nation’s largest undergraduate research conference.

Ryan Blanchard, Analyst



Coverage and Focus Areas
Professional services, healthcare

Role and Responsibilities
Ryan Blanchard is a research analyst on TBR’s Professional Services team, contributing to syndicated coverage of professional services vendors such as Xerox, CGI, TCS, Wipro and Cognizant.

Experience and Background
Ryan earned a bachelor’s degree in communication from the University of New Hampshire. He began his career as an intern at TBR focusing on Fortune 500 public sector and healthcare companies including General Dynamics, Raytheon, Cerner Corporation and Epic Systems.

Kevin Collupy, Analyst



Coverage and Focus Areas
Cloud services, cybersecurity, analytics, big data, mobility services, IT consulting, business IT consulting

Role and Responsibilities
Kevin Collupy is a professional services analyst at TBR. His vendor coverage includes Atos, CGI, Cisco Services, Dell Services, Fujitsu, IBM Global Services, ManTech and Wipro. Kevin also contributes to quarterly benchmarks that compare the industry’s top performers. He provides analysis and insight for TBR’s IT Services Vendor Benchmark, Management Consulting Benchmark, Business Intelligence Services Vendor Benchmark and Global Delivery Benchmark.

Experience and Background
Prior to joining TBR Kevin worked at Fidelity Investments, where he analyzed the client financial portfolios to create solutions to meet their needs. Kevin also trained new hires in company and industry best practices.

Kevin received a B.S. in business administration from Methodist University.

Joey Cresta, Analyst



Coverage and Focus Areas
Government IT and professional services contracting, services businesses of aerospace and defense vendors, services-led federal government pure plays, public sector businesses of commercially centric companies, C4ISR, cybersecurity services, technical services, adjacent market expansion strategies, industry consolidation, M&A strategies of government contractors

Role and Responsibilities
Joey Cresta is an analyst in TBR’s Professional Services Practice focused on the public sector market, with a particular emphasis on the U.S. federal landscape. Joey leads TBR’s syndicated analysis of government contractors, including federal services pure plays such as Booz Allen Hamilton and Leidos, and the services-focused businesses of legacy aerospace and defense vendors, including Raytheon and Northrop Grumman. Service areas of focus include enterprise IT support for federal civilian and defense agencies; cybersecurity services ranging from managed services to advanced analytics-based threat detection; defense platform maintenance, modernization and upgrade support; digital government transformation; and intelligence, surveillance and reconnaissance support services. Joey also provides analysis on vendors’ business strategies including qualitative assessments of go-to-market priorities and M&A strategies, backed by quantitative analysis of vendors’ financial performance. Joey authors TBR’s public sector vendor reports, provides an overview of market conditions in TBR’s quarterly Public Sector IT Services Benchmark and delivers clients actionable insight during his vis-a-vis engagements in the Greater Washington, D.C., area.

Experience and Background
Joey joined the company in 2014 as an editor, where he was exposed to TBR’s extensive market analysis of technology trends and vendor performance. Prior to joining TBR he reported for several daily newspapers. His coverage included local politics, crime and emergency response, municipal budgeting, the New Hampshire judicial system and presidential elections.

Joey received a bachelor’s degree in English and anthropology from Bowdoin College.

Meaghan McGrath, Analyst



Coverage and Focus Areas
Vendor business models, resource management strategies, alliance and acquisition strategies, go-to-market strategies, enterprise software, applications, business intelligence and analytics, CRM, HCM (Human Capital Management), public cloud, private cloud, hybrid cloud, systems management

Role and Responsibilities
As an analyst Meaghan McGrath is responsible for analyzing the software and cloud businesses of vendors including SAS, Oracle, Amazon, Google, Rackspace and ServiceNow. She is also the author of TBR’s Business Intelligence Software Vendor Benchmark and provides insight to other software and cloud quarterly benchmarks, comparing the industries’ top performers against peers. Meaghan’s research and data analysis skills are vital in many of TBR’s custom reports and projects.

Experience and Background
Prior to joining TBR, Meaghan worked as an intern in the Corporate Partnerships department at Homestead Miami Speedway. She was responsible for bringing advertisers and company partners to the track for the Sprint Cup, Nationwide and Camping World Truck series championship races of the 2012 NASCAR season. During the events, she ran hospitality suites, filled credential requests, ensured all contracted matters were delivered on and guided both pre- and post-race activities.

Meaghan holds a B.S. in finance from the University of Miami School of Business Administration.

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