It’s all about cost, cost, cost
ALM Intelligence states that:
- Regulatory compliance in the finance area is the spear point of this trend. Elements of this trend are being subsumed by new platforms and technology tools that are constantly emerging, while regulators and consulting firms are increasingly contending with spending fatigue in financial services after several years of massive investments in new technology systems, controls processes, and risk regimes.
- And yet regulatory compliance in finance – in treasury, capital management & strategy, and risk management – is still at the crux of the strategy challenge facing companies as they recalibrate their business models for the modern world. Clients still need help meeting regulator goals and deadlines with very limited resources. And the regulatory wave that swept financial services in 2010-2013 is now having a ripple effect in healthcare, natural resources & power, retail, and other industries.
The report identifies PwC as ‘best in class’ for its Controls, Reporting & Monitoring capability area. ALM Intelligence highlights that PwC’s strong Risk Assurance group, combined with the firm’s analytics capabilities position the firm very strongly in this space.
It also says that ‘In this Vanguard, the firms’ best at bringing together the technology, process, regulatory and often industry expertise competencies fare best. Even the leading specialists have all learned to blend their compliance offering with other systems, operational, risk, or strategy capabilities – and more importantly, at cost. The crucial capability for consulting firms is finding ways to help clients get a grip on their monstrous compliance budgets while bringing them into good graces with regulators. It is all about cost, cost, cost.’
Commenting on achieving the Vanguard rating, Miles Everson, Global Advisory Chairman, said: “It’s great to have been rated as a leader in this Vanguard. We’re proud that our capabilities across the firm allow us to support our clients with their important issues and transformation plans. Allowing us to deliver for each of our clients, from strategy through execution, no matter where they are based.”
*ALM Intelligence, formerly Kennedy Consulting Research & Advisory.
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Robert DonnellyPwC Global Analyst RelationsUnited Statesrobert.firstname.lastname@example.org+1 917 471 3355