Today PwC unveiled The New Equation, PwC's landmark global strategy which
answers 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 an 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.
The New Equation focuses on two interconnected needs that clients face in the
The first is to build trust, which has never been more important, nor more
difficult. Organizations increasingly need to earn trust across a wide range of
topics that are important to their stakeholders. Success depends on fundamental
shifts in the way executives think, organizational culture, systems, and
The second is to deliver sustained outcomes in an environment where competition
and the risk of disruption are more intense than ever and societal expectations
have never been greater. Businesses need to change faster and more thoroughly
to attract capital, talent, and customers. Too often, however, narrowly
conceived transformation initiatives do not deliver the outcomes they promise.
A new approach is needed.
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
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
cybersecurity, data privacy, ESG, 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
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, amongst other areas to deliver the agreed outcomes.
Planned investments include: