This is the biggest news, partnerships and acquisitions by big 4 accounting firm PwC for the month of November 2017.
PwC November 2017 Media Coverage
PwC was briefly mentioned in an article on forbes about how the big 4 firms use AI in their practices.
The article spoke to how PwC approaches their AI development. In the article it said that PwC develops their ai technologies by using 4 week planning sprints where they quickly develop use cases for their AI. PwC hosts 70-80 AI sprints a year.
PwC Accepts Bitcoin for the first time
PwC accepted bitcoin service for the first time in November according to the wall street journal. Their Hong Kong office was the office that accepted the payment.
This comes just in time as one bitcoin is now worth $11,000. This is also unique because bitcoin is often associated with the black market and money laundering, and I’m amazed that a big 4 would take the currency for branding purposes. I think that is why it is the Hong Kong office accepting it and not the U.S. offices of PwC. I think it will be some time before the US offices of pwc accept bitcoin. This also goes to show that the big 4 are putting their approval behind blockchain technologies.
Office Closure in the UK
PwC plans to close six regional offices in the UK in 2018. PwC will be closing their Sheffield, Plymouth, Liverpool, Norwich, Swansea and Dunnagon office in Ireland in April 2018.
PwC stated that they are not closing these offices because of Brexit. They said that this move was already planned a while ago. The move will affect less than 400 pwc employees.
Grant Thornton has offered to hire the PwC employees that are displaced by the office move.
The offices will most likely be consolidated with the PwC Leeds office.
Tim Ryan wants diversity
Tim Ryan is the US CEO of PwC, and he wants every Fortune 1000 CEO to sign his pledge for Action and Diversity. His initial plan was to get 25 out of 40 CEO’s to sign his pledge but he ended up with more than 150 CEO’s. Now he’s aiming for more.
You can read about the pledge at the following link.
The CEO Action for Diversity & Inclusion is the largest CEO-driven business commitment to advance diversity and inclusion within the workplace. This commitment is driven by a realization that addressing diversity and inclusion is not a competitive issue, but a societal issue. CEOs recognize that change starts with them. With more than 300 CEOs of the world’s leading companies and business organizations, our goal is to leverage our individual and collective voices to advance diversity and inclusion in the workplace.
PwC was named the best forensic accounting firm in Quebec Canada
PwC increased their brand recognition in Canada with the naming of their Canadian branch as the top forensic accounting firm In Quebec. They were able to do this with the acquisition of Quotient Juricomptables Inc.
PwC November 2017 Partnerships
Thinkerbell in Australia
PwC invested in a creative agency in Melbourne australia two months after it was created. PwC decided to invest in the agency as opposed to acquiring it because they feel they only need to invest in order to play in the space. They don’t feel ilke they need to buy a creative agency like Deloitte did with Deloitte heat or how Accenture did in Australia.
Beyond Analysis in the UK
Pwc partnered with beyond analysis technology in the UK. Beyond analysis helps clients turn their data into visualizations. This is very popular nowadays because people often have their data in various formats but don’t have ways to analyze it. These data visualization tools are popular and the big 4 have lots of these tools including tools like PowerBI.
The reason PwC chose to partner with Beyond analysis is that they have won a lot of awards and already have some major corporate accounts, so they have a proven track record.
PwC November 2017 Acquisitions
PwC acquired a salesforce consulting firm in the UK called Cdecisions. This firm builds up custom salesforce solutions for major clients. Salesforce is a sales and marketing solution for major companies. It is the premier cloud-based selling platform right now, and it is extremely popular with the big 4. I wouldn’t be amazed to see PwC make similar acquisitions in the U.S. CDecisions clients include companies like Johnson & Johnson and L’Oreal.
PwC acquired another salesforce consulting company Agilitude. Agilitude is the premier salesforce consulting company in South Africa. With the acquisitions of Agilitude and Cdecisions you can see that salesforce is becoming a big deal for PwC. If you can get certified in Salesforce, you will really set yourself apart from other big 4 candidates.