Home > Insights > Why Deloitte’s growth matters to CIOs?

Why Deloitte’s growth matters to CIOs?

Why Deloitte’s growth matters to CIOs?

By: Ciopages Staff Writer

Updated on: Aug 13, 2022

Deloitte, the giant accounting, consulting, and professional services firm has announced 2017 results, and they are stellar.  Deloitte reported total firm-wide revenues of US$38.8 billion for the fiscal year ended 31 May 2017. It represents a 7.1 percent revenue increase from the previous year.

Why it matters and should matter to CIOs and other technology leaders?  It does and it should.  There are several trends one can notice and draw definite conclusions.

Digging a bit deep, these are the highlights from the Deloitte’s news release:

  • Risk Advisory revenue grew the fastest at 12.9 percent, driven by increased recognition of risk as a strategic driver of performance, a focus on targeted acquisitions in high growth areas such as cyber, and innovative solutions in the field of robotic process automation, risk sensing, and predictive analytics.
  • Consulting revenue grew at 10.2 percent, powered by the urgency of clients to accelerate their business model transformation in disrupted markets, and by its growing momentum through strategic acquisitions, alliances and investments in areas such as artificial intelligence, robotics, cognitive, creative digital consulting, cloud computing, blockchain and Internet of Things (IoT). Deloitte continues to make pioneering moves to help clients transform their businesses through co-innovation initiatives with organizations such as Singularity University and the Singapore Economic Development Board.
  • Tax & Legal revenue grew at 6.6 percent, fueled by client needs related to the global tax reset—resulting from the OECD’s Base Erosion and Profit Shifting effort (BEPS), the evolution of technology and automation, and mass globalization. Deloitte’s focus on helping clients manage and make confident decisions about their tax matters included introducing several enhanced global technology tools such as TP Digital DoX, Value Chain Analysis Tool (VCAT), and myInsight.
  • Financial Advisory revenue grew 5.8 percent, driven by increasing demand for its broad and innovative multi-disciplinary M&A services. Growth was also driven by Deloitte’s Forensic service line, which has been recognized for leadership in eDiscovery, investigations, and dispute analysis and advisory. Regional growth in China, as well as the expansion of the Asia Pacific Financial Crime Network, contributed to Financial Advisory’s strong year.

Here are some thoughts on why Deloitte’s growth matters to CIOs?

  • Despite seemingly on the cusp of disruption, the mainline consulting and professional services industry is well and alive.
  • Companies don’t want to bulk up payroll. Today, more than ever, companies are keeping their employee rolls lean and depending on a range of professional services, outsourcing, and contingent help to remain nimble and lower fixed overhead costs.
  • Consulting and Professional Service balance of power is shifting. With companies needing tremendous help in the digital realm, the consulting industry as a whole is at the peak of its value-add.
  • Today, consulting and professional services have become multidimensional, and firms that offer a diverse set of skills and competencies are excelling.  For example, to address many of the digital needs, companies need to put together team ranging from strategy consulting, business and systems analysis, data and analytics, technology enablement, and design.  No wonder, many of the big consulting and professional services firms are acquiring boutique shops across areas such as data, design, and niche solutions.
  • Consulting firms have upped the consulting game and have been recruiting a lot of talent across many disciplines.

And, specifically with regards to Deloitte:

  • Deloitte has raised its game in the strategy realm. More often than not, Deloitte is in the conversations for engagement that have hitherto been the province of the strategy firms (McKinsey, BCG, et al.)
  • Deloitte’s diversity of talent and expertise across industries, functions, technologies, and disciplines is becoming a potent recipe for success in the digital transformation field.
  • Deloitte has been at the forefront of developing a lot of intellectual capital, and that is helping as well.

What should business and technology leaders do?

  • Re-examine your list of favorite providers and evaluate whether all of them have kept up with the times?
  • As reliance on consulting and professional services increase, companies should rethink what core is, what is context, and what is the commodity and where to hire full time, bring on consultants, and outsource some functions.
  • Analyze the consulting spend and develop clear KPIs on how to evaluate success.

Licensing Options:

We keep the licensing options – clean and straightforward.

Individual License: Where we offer an individual license, you can use the deliverable for personal use. You pay only once for using the deliverable forever. You are entitled any new updates within 12 months.

Enterprise License: If you are representing a company, irrespective of size, and intend to use the deliverables as a part of your enterprise transformation, the enterprise license is applicable in your situation. You pay only once for using the deliverable forever. You are entitled any new updates within 12 months.

Consultancy License: A consulting or professional services or IT services company that intends to use the deliverables for their client work need to pay the consultancy license fee. You pay only once for using the deliverable forever. You are entitled any new updates within 12 months.

Product FAQs:

Can I see a Sample Deliverable?

We are sorry, but we cannot send or show sample deliverables. There are two reasons: A) The deliverables are our intellectual property, and we cannot share the same. B) While you may be a genuine buyer, our experience in the past has not been great with too many browsers and not many buyers. We believe the depth of the information in the product description and the snippets we provide are sufficient to understand the scope and quality of our products.

When can I access my deliverables?

We process each transaction manually and hence, processing a deliverable may take anywhere from a few minutes to up to a day. The reason is to ensure appropriate licensing and also validating the deliverables.

Where can I access my deliverables?

Your best bet is to log in to the portal and download the products from the included links. The links do not expire.

Are there any restrictions on Downloads?

Yes. You can only download the products three times. We believe that is sufficient for any genuine usage situation. Of course, once you download, you can save electronic copies to your computer or a cloud drive.

Can I share or sell the deliverables with anyone?

You can share the deliverables within a company for proper use. You cannot share the deliverables outside your company. Selling or giving away free is prohibited, as well.

Can we talk to you on the phone?

Not generally. Compared to our professional services fee, the price of our products is a fraction of what we charge for custom work. Hence, our business model does not support pre-sales support.

Do you offer orientation or support to understand and use your deliverables?

Yes, for a separate fee. You can hire our consultants for remote help and in some cases for onsite assistance. Please Contact Us.