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PwC Consulting Growth

 
#1 PwC Consulting Growth
04/09/2009 10:22

Daddy Donkey

Hi all!

Been reading the forum for a while now and thought it was time to contribute.

Have been working for a big 4 consultancy for 3 years now and am pleased still to have job security etc etc.

However, I saw the announcement from Ashley Unwin at PwC last month that they plan to treble their Consulting Revenue in 4 years from £450m to £1.5B!!!!

Given relatively flat market conditions etc etc how exactly are they planning on achieving this?! Seems unbelievable!!!

Also....£450m Consulting revenues!? That would make their Cons practice bigger than Deloitte's....how are they definining their Cons Practice?

All very intriguing...they are planning on recruiting 2,000 new people too....I may consider a swap!!!

DD

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#2 RE: PwC Consulting Growth
04/09/2009 10:24

Bill Shutter to Daddy Donkey (#1)

Maybe they could buy someone up to increase their headcount - PA must be going cheap by now!

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#3 RE: PwC Consulting Growth
04/09/2009 10:25

Daddy Donkey to Daddy Donkey (#1)

Sorry....its £1.3Bn...here is the link

http://business.timesonline.co.uk/tol/business/industry_sectors/support_services/article6738036.ece

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#4 RE: PwC Consulting Growth
04/09/2009 14:56

Anon to Daddy Donkey (#3)

No way would PwC buy PA. The PA consultants aren't in the same league.

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#5 RE: PwC Consulting Growth
04/09/2009 15:12

Boredofallthisnonsense to Anon (#4)

Premptive strike...

Indeed, they are much better league... Oh no they're not...oh yes they are....ad infinitum <yawn>

Any chance this forum could return to in depth consulting questions rather than inter-company insult slinging?

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#6 RE: PwC Consulting Growth
04/09/2009 16:06

anon to Boredofallthisnonsense (#5)

2000 new people??

I hope this isn't just empire building, uncontrolled growth usually results in eventual collapse

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#7 RE: PwC Consulting Growth
04/09/2009 16:20

anon to anon (#6)

2000 new people of whom 100 would be partners iirc.

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#8 RE: PwC Consulting Growth
04/09/2009 16:47

anon to anon (#7)

where on earth are they going to find 100 rainmakers who are so good that they can each bring in enough business to keep 20 people (on average) busy?

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#9 RE: PwC Consulting Growth
04/09/2009 17:51

Mr Cool to anon (#8)

One rainmaker could easily keep 20 people busy as long as the business model was more along the lines of IT System Integration....

...might we see PWC dip their toe once again into that market to fuel growth? Just an idle thought.

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#10 RE: PwC Consulting Growth
07/09/2009 09:58

Daddy Donkey to Mr Cool (#9)

So anyone there actually know how they plan to do this?!

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#11 RE: PwC Consulting Growth
07/09/2009 10:01

R2D2 to Daddy Donkey (#10)

Given that gartner reported a forecast for UK consulting revenues to fall by 8% this year and not recover from this position at all next year I find this hard to believe and can only assume its all hyperbole and "putting a brave face on things". If they do plan this size of scale up it can be only through acquisition.

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#12 RE: PwC Consulting Growth
07/09/2009 10:25

anon to R2D2 (#11)

I heard that PWC were making people redundant not so long ago, such as in their 'transaction services' department... is what I heard correct?

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#13 RE: PwC Consulting Growth
10/09/2009 11:24

linguini to Daddy Donkey (#1)

Depends on the definition of "consulting" - the eintire Advisory practice (which includes Deals/Transactions group and Performance Improvement PI group) or only PI group. Even within PI group, the largest service is still the old PwC governance,risk&compliance. Not sure of organic growth as most PwC ppl now are accountants/auditors than consultants. Acquisition could be an option as PwC already acquired BearingPoint NA and Japan (though I can't understand why acquire BP since 99% of BP is system integration)

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#14 RE: PwC Consulting Growth
10/09/2009 11:59

Mr Cool to linguini (#13)

@ Linguini - re: Bearingpoint being 99% system integration.

I’m going to sound like an old has-been, I know, but here goes……

This is a cycle of life thing. High end “advisory” type consultancy doing high margin business tries to work out how to grow quickly. They see the high revenue achieved by SI companies through placement of techie teams with one rainmaker keeping 50 techies busy and think “we could do that”. They get into that business, often through acquisition to short cut the process, and then spend five years trying to integrate two completely different cultures, salary scales, skills bases, etc. Along the way they find that SI profit margins and consultant mark-up don’t compare well to their old advisory rates! What a shock!

Ironically at the same time there will be a major SI somewhere, happy with their immense revenue figure, but jealous of the sort of margins made by high-end consultancies. “We could do that” they think and go about either buying a niche firm or hiring 20 top class MBA’s, breaking their salary structure in the process. They then spend the next five years wondering why they can’t cross-sell strategy work to their existing SAP/Oracle/CRM clients. The MBA guys end up sitting on the bench, or working at no margin on SI work that they hate before leaving in droves to traditional advisory firms (slagging the SI off on this forum in the meantime no doubt)

I’ve worked for both advisory boutiques and SI’s and they both covet the others margin/scale (delete as appropriate). If PWC really are going to make this sort of revenue growth, I’ll put a £5 bet on them achieving it through changing their business model to take on more large scale work (SI, low end Bus Trans, outsourcing, etc). Bet it all ends in tears as well.

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#15 RE: PwC Consulting Growth
10/09/2009 21:01

CwP to Daddy Donkey (#1)

All you need to know about PwC (courtesy of Tony's tweet): http://www.telegraph.co.uk/news/newstopics/howaboutthat/6166464/PwC-accountants-email-is-global-hit.html

This was a guy in audit but it's frankly identical in the advisory businesses.

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#16 RE: PwC Consulting Growth
16/09/2009 20:33

PwC consulting to CwP (#15)

PwC rebranded its consulting division last week from "Performance Improvement Consulting" (PIC) to simply "Consulting". Plus ca change!

This is being done in a low key way, however, as there are a number of other pockets of consultants in other areas of the firm (eg tax and assurance).

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#17 RE: PwC Consulting Growth
16/09/2009 21:00

Anon to PwC consulting (#16)

What is 'ca change'?

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#18 RE: PwC Consulting Growth
16/09/2009 23:01

anon to Anon (#17)

c'est la meme chose

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#19 RE: PwC Consulting Growth
17/09/2009 07:35

Bob to anon (#18)

Bonnet de douche Rodney, Bonnet de douch.

Le grand fromage and all that.

Oeuf sur la plat.

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#20 RE: PwC Consulting Growth
17/09/2009 10:57

Mr Coolio to Bob (#19)

Hey Mr. Coolio,

your are absolutely right with your suggestions.

Our consulting firm suffers from being bought by a software company, trying to cross sell their products...it will not work out, because they forget to strengthen the consulting arm, which is important to sell sofware afterwards in the second phase of consulting projects.

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