PwC is one of the most prestigious groups of accounting firms that offers audit, assurance, tax, and advisory services. Beyond its core audit and consultation services, PwC’s capabilities also include emerging technologies, cybersecurity, data analytics, and managed services. Learn more about what PwC offers its customers in this comprehensive guide.
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What Is PwC?
PricewaterhouseCoopers, now better known as PwC, is a multinational network of professional services providers. PwC helps individuals and organizations by delivering high-quality services such as audit and assurance, tax, and consultation.
Founded in 1998 and headquartered in London, PwC is one of the most highly skilled services networks in the world, with locations in 156 countries and over 295,000 employees. It came into being through a merger of several accounting firms and is considered one of the “Big Four” accounting firms, along with KPMG, Deloitte, and EY.
What Does PwC Do for Its Customers?
PwC offers a wide variety of well-coordinated services that support its clients in making financial and other business decisions. By upholding worldwide standards and using cutting-edge technologies, the firm is dedicated to exceeding customers’ expectations.
PwC customers come from industries like insurance, financial services, aerospace, healthcare, hospitality, technology, energy, consumer markets, logistics, engineering, and government and public services.
PwC offers expert assistance in two business divisions: Trust Solutions and Consulting Solutions. These two business divisions assist clients in establishing trust and achieving lasting results with services that include alliances, audit and assurance, tax, consulting, forensics, legal, and strategic sustainability.
With tech-powered digital products, PwC helps businesses tackle challenges and improve customer satisfaction with innovation.
PwC Services and Capabilities
PwC helps organizations achieve their goals by providing knowledgeable and thorough assistance for a variety of business needs. Following are a few services provided by PwC:
Alliances and ecosystems
PwC and its Alliance relationships support the client, no matter what the client’s priorities are—greater innovation, cloud or business transformation, operational efficiency, or a quicker time to market their products and services are some possible examples. Partner firms for this group include SAP, AWS, Salesforce, Adobe, Google, and Oracle.
Audit and assurance services
PwC collaborates with clients to create transparency for both financial and non-financial reporting by taking a comprehensive approach. PwC’s Audit services include financial and internal audit, risk assurance, corporate reporting, IFRS, and actuarial services.
Global consulting services
PwC combines strategic insights and advanced technology to minimize disruption, optimize workflows, and deliver tangible results for its consulting customers. It solves problems with a comprehensive approach: Business, eXperience, Technology (BXT).
Entrepreneurial and private business
PwC uses technology to help entrepreneurs and private firms solve complex issues and entrepreneurial challenges. They concentrate on the agenda, objectives, network, and legacy of their clients. With a personalized and holistic approach, PwC takes care of everything from building a strong strategy to financial considerations, managing ownership, digital transformation, risk, and regulations.
Tax and legal services
With a globally interconnected network, PwC supplies in-depth tax and technical expertise to support clients in making informed decisions. Some of these services include tax policy and administration, reporting and strategy, dispute resolution, and international regulations.
PwC allows businesses to focus on their core functions and operations while it takes care of managing their workforce remotely with skilled professionals and the latest technology. Managed services include:
- Application Managed Services
- Application Security and Controls Monitoring Managed Services
- Controls Testing and Monitoring Managed Services
- Cyber Managed Services
- Financial Crimes Compliance Managed Services
- Legal Managed Services
- PMO (Project Management Office) Managed Services
- Virtual Business Office services for healthcare
Cloud and digital
PwC helps businesses achieve digital transformation by simplifying processes and maximizing impact. Cloud and digital capabilities include emerging technologies, cybersecurity, data and analytics, industry cloud, and application-managed services.
The PwC team uses many strategies to move clients closer to their objectives with digital products and solutions. PwC products fall into five main categories:
PwC helps clients establish trust by using an integrated strategy to manage risk, security, and governance. These are PwC’s primary risk management products:
- The Ready Assess risk platform optimizes workflows and makes them visual, interactive, trackable, and actionable.
- Enterprise Control is PwC’s financial, operational, and compliance platform that lowers error rates and simplifies complex ERP systems.
PwC enables clients to understand customers’ needs and take action based on precise data from the following solutions:
- Customer Link reveals insights into what customers really want and helps them throughout their journey.
- Media Intelligence takes control of media spend to understand how effective certain media is and then make informed decisions.
PwC analyzes clients’ operations and makes suggestions for improvement based on insights from these tools:
- SMART (Systematic Monitoring & Review Technology) analyzes coding errors and automates inpatient and outpatient billing processes.
- Indoor Geolocation Platform is PwC’s Internet of Things (IoT) platform that locates valuable assets in real-time and helps protect both employees and merchandise.
PwC’s financial intelligence solutions help the firm to develop profitable financial plans, optimize client companies’ finances, and boost decision-making confidence by using actionable data and modeling tools:
- ESG Pulse (Environment, Social & Governance) gets data-driven insights to improve client reporting processes. It helps assess maturity, reduce risk, and redirect efforts based on those insights.
- Bookkeeping Connect is PwC’s automated bookkeeping, payables, and reports system that streamlines daily bookkeeping to deliver accurate data promptly. This approach gives the client a clearer picture of their financial situation.
PwC improves the employee experience to support company objectives, primarily with the following products:
- Saratoga is a workforce analytics and benchmarking platform that compares clients’ performance to those of competitors and helps them make improvements to stay competitive.
- The ProEdge upskilling platform helps to close the digital skill gap and equips employees with the skills and tools they need to stay ahead.
What Industries Does PwC Work With?
PwC’s industry-specific network is built to anticipate and meet business needs. Its 250,000 employees, dispersed across 158 countries, help industries understand and address complex technology challenges, regulations, supply chain, finances, and brand reputation. PwC primarily works with the following industries:
- Aerospace and defense
- Asset and wealth management
- Banking and capital markets
- Capital projects and infrastructure
- Consumer markets
- Energy, utilities, and resources
- Engineering and construction
- Financial services
- Forest, paper, and packaging
- Government and public services
- Hospitality and leisure
- Industrial manufacturing
- Pharmaceuticals and life sciences
- Private equity
- Sovereign investment funds
- Technology, media, and telecommunication
- Transportation and logistics