IDC attended PwC’s Shanghai Analyst Day at the PwC Shanghai Innovation Center on May 23 and 24, 2018. The agenda for the day focused on digital and technology transformation in China. Presentations from both PwC Leaders and the firm’s clients touched on a variety of growth-focused topics, including, digital transformation, blockchain, security, and other emerging technology areas.
IDC noted, post-event, “PwC's Business, eXperience, and Technology (BXT) philosophy, along with its deep functional and industry expertise, technology capabilities, and network of strategic alliances, enables it to deliver business value to its customers.”
PwC’s Growth Strategy in China
During the plenary sessions PwC discussed its growth strategy in China and IDC observes that, “At the PwC Shanghai Analyst Day, the service provider showcased its strong understanding of the China market and its success in the second-largest economy in the world.”
The presentations began with Shirley Xie, CEO of PwC Consulting, China and Hong Kong, providing a brief background on China’s 40 years of “opening up.” Xie expanded on PwC’s strategic growth initiatives in China, noting they are “highly aligned with the country's main initiatives identified by each NCCPC, such as business transformation opportunities afforded by China's Belt and Road initiative.”
Randy Browning, PwC Global Advisory Markets Leader, Shirley Xie, PwC China and Hong Kong Consulting Leader, and Elton Huang, PwC's China Central Markets Leader and Shanghai Office Lead Partner, led plenary and breakout sessions over the course of the day. These sessions touched on the ways in which, “PwC is helping businesses navigate business risks in situations such as the trade relationship between the United States and Chinese governments, PwC's consulting capabilities, and their growing role in the U.S. and Chinese markets.”
IDC notes that “PwC's strategic growth initiatives in China will be focused on driving strategy and transformation (live transformation projects, technology-enabled solutions, and so forth), investing in emerging technologies (blockchain, predictive analytics, and so forth), building alliances with partners (SAP, Workday, Oracle, and Salesforce), and driving the growth of the services deals business (inbound/outbound deals, pre-deal support, and post-deal integration).”
In the continually evolving Chinese market, PwC is increasingly becoming a preferred adviser to organisations trying to navigate complex political and regulatory environments. PwC offers consulting and advisory on market entry strategies, optimizing operations, managing risks, tackling local competition and strategic alliances, and navigating the regulatory environment, in addition to consulting services on creating and expanding a global footprint.
IDC observes, “PwC's new Shanghai Innovation Centre is proof that it believes in this burgeoning and sophisticated market.” Attendees from IDC go on to note, PwC’s investment in start-ups after observing their, “state-of-the-art technology space that includes Incubator, Emerging Tech Lab, Catalyst Workshop (Sandbox), Experience Center, and Video and Creativity Center.”
IDC'S POINT OF VIEW
Upon completion of the day, IDC summarized the following takeaways on PwC in the Chinese market:
- PwC distinguishes itself in the market by providing clients with a unique value proposition of local market expertise, strong understanding of government policies, and in-depth assessment of its clients' strategies, business processes, and people.
- PwC enables its clients to grow their revenue or market share through product/service innovation, achieve operational transformation, and increase efficiencies by redesigning their procurement, sourcing, and delivery processes.
- Increasingly, PwC is gaining recognition in the market for its traditional business strategy capabilities as well as its ability to guide its clients from strategy through to successful execution of large-scale transformation engagements.”
- Among the shared customer case studies, many customers stated that the most common factor as to why they chose PwC over the competition is because of PwC's differentiated understanding toward the customers' businesses, proven expertise in business transformation, including business model transformation, and key business process/operation optimization or re-engineering (including financial engineering).
- PwC's approach of "Business Transformation Strategy Through Execution" also resonates well in the market and provides an important differentiation against other strategy, advisory, and technology services providers. Although doing business and executing an initiative in China is a challenge, PwC is differentiating itself by focusing on designing and execution strategies based on the business objectives the clients want to achieve.
- PwC successfully partnered with its customers from strategy through execution stage, enabling business transformation through technology-led engagements.
Source: IDC Market Note: State of Consulting Services in China, the Opportunities, and the Challenges for PwC, August 2018
To read more about PwC’s Shanghai Analyst Day, please see the following links:
- To view our experience center, one of over 30 worldwide, and learn more watch this video
- Analyst Days give us the opportunity to share what we are doing with the Analyst Relations community. See what analysts are saying about us: https://www.pwc.com/gx/en/about/analyst-relations.html
- At PwC, our purpose is to build trust in society and solve important problems. We’re a network of firms in 158 countries with more than 236,000 people who are committed to delivering quality in assurance, advisory and tax services. Find out more and tell us what matters to you by visiting us at www.pwc.com
PwC refers to the PwC network and/or one or more of its member firms, each of which is a separate legal entity. Please see www.pwc.com/structure
for further details.
©2018 PwC. All rights reserved.