PwC announces new strategy: The new equation

PwC recently unveiled The New Equation, PwC’s landmark global strategy which responds to fundamental changes in the world, including technological disruption, climate change, fractured geopolitics, and the continuing effects of the COVID-19 pandemic. The New Equation is based on analysis of global trends and thousands of conversations with clients and stakeholders. It builds on more than a decade of sustained revenue growth and continued investment.

Bob Moritz, Global Chairman of PwC said: “The profound changes in the world mean that to succeed, organizations need to create a virtuous circle between earning trust and delivering sustained outcomes. By bringing our unique combination of capabilities together, and matching it with serious investment and our commitment to quality, we can help them do that. In doing so, we will help clients unlock value for shareholders, stakeholders, and wider society.”

How PwC will help build trust and deliver sustained outcomes

PwC’s multidisciplinary model is the foundation for the strategy, bringing together a passionate, diverse community to help organizations build trust and deliver sustained outcomes. The model enables investment at scale in the combination of capabilities that is essential to delivering quality and impact for clients, stakeholders, and society. PwC firms will invest US$12 billion over the next five years, creating over 100,000 net new jobs across PwC, as well as continuing to develop the skills of PwC’s partners and employees.

  • PwC’s approach to building trust is designed to meet rising expectations of transparency and stakeholder engagement. It combines expertise in audit, tax, and compliance activity with an expansion of specialist capabilities including cyber security, data privacy, ESG (Environmental, Social, and Governance), and AI. It recognizes the importance of quality and that reporting and compliance are just one link in a chain that includes organizational culture, executive mindset, aligned standards, certified professionals, stringent controls, tailored technologies, and appropriate governance.
  • Similarly, delivering sustained outcomes requires an integrated approach. Instead of a traditional technology-driven approach to transformation, PwC’s approach is focused on the outcome that effort seeks to achieve. PwC then mobilizes expertise in strategy, digital and cloud services, value creation, people and organization, tax, ESG, deals, business recovery services, legal and compliance, among other areas to deliver the agreed outcomes.

Strengthening our capabilities and presence in Asia Pacific

The New Equation also accelerates PwC’s growth in Asia Pacific, with investments of US$3bn over the next five years to significantly enhance capabilities to support clients in the region, as part of an ambition to double the size of the business by 2026 and extend its leading position in the market. PwC will be establishing an Asia Pacific Institute to champion trust-building initiatives in addition to enhancing talent and leadership development programmes for the region. PwC in Asia Pacific also plans to scale up in a number of strategically important areas including ESG, digital transformation, M&A, and deals value creation capabilities, providing assurance beyond financial statements as well as strengthening regional delivery centers.

Commitments in PwC Philippines

As part of The New Equation, PwC Philippines is also announcing plans to meet the specific needs of client stakeholders in our market. Here in the Philippines, PwC will invest in the areas of ESG and digital solutions to deliver the strategy while continuing to ensure PwC delivers quality in everything that it does. We continue to upskill our people, supported by technology and flexible working arrangements. And to meet the rising demands and opportunities in the market, we strive to attract diverse talent.

“We are bringing the best of our people, capabilities, and technology together to support our clients in building trust and delivering sustained outcomes for their businesses and society,” said Roderick Danao, PwC Philippines Chairman, and Senior Partner.

For more on our strategy, visit our website.

 

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