PwC bundles advisory teams for more integrated deal approach
PwC has streamlined a large segment of its consulting services, by combining eight advisory teams working across a variety of dealmaking domains. The move – coined the One Deals programme internally – will better enable the Big Four accounting and advisory firm to offer clients a comprehensive end-to-end experience.
Newspaper Times of India (TOI) reports that One Deals will build on expertise from eight platforms, namely transaction services, valuations, corporate finance, business restructuring services, value creation in deals, mergers & acquisitions (M&A) and tax, private equity tax, and general regulatory consulting services.
Individual teams in this domain will now combine to deliver a single multi-disciplinary offering. As a result, the eight teams have been integrated into a single, large advisory service line.
The new One Deals wing now operates with around 1,000 staff, led by a partner team of 50. According to insiders, the decision to combine the various services lines into one came after feedback from clients. In some cases, along the lifecycle of their engagement, clients were in touch with different PwC contacts, a feat which frustrated contracting and consistency.
Clients were associating with different partners at various times, and their data was thus registered in a number of different databases, each belonging to a distinct segment at PwC. One Deals eliminates such complications, in addition to allowing for a more end-to-end problem solving approach.
The move comes at a time when the Big Four accounting and advisory firms are increasingly permeating the rapidly expanding management consulting industry in India, leading to stiff competition. Such streamlined and comprehensive initiatives are likely to offer PwC a distinct market advantage.
Partner & Leader for Private Equity Deals at PwC India, Sanjeev Krishan said to the Times of India: “Our integrated service will help clients by capturing maximum value from every point in the deal transaction, to even addressing any aspect of the client’s growth journey, helping accelerate corporate strategy.”
“I’m trying to create that trusted advisor relationship with my client over a period. We are creating enablers for our clients to succeed and each of our partners is aligning themselves to that common goal,” he added.
