PricewaterhouseCoopers or PwC as this is commonly known as a global business organization that has made a name for itself in the rendition of professional services, including business consultation. The headquarter of the company is located, in London in Great Britain, and it was in 1998 that the company was formally established. Regulatory and taxation services and financial advisory services are examples of some of the work that is done at PricewaterhouseCoopers, in the UK as well as in other parts of the world that it is situated in. If you want to know about the top competitors of PwC in the world, read on.
Competitors of PwC
Ernst and Young
Ernst and Young, known also as EY, is a professional services enterprise which, like PwC is also located in London, in the United Kingdom and which is considered, to be one of the most well-known competitors of PwC. The company was formed officially in 1989 and some of the key services that are provided by the firm are, advisory services, services related to taxation and accounting, financial auditing services and assurance in general.
The company has a presence in 150 countries and is serviced at present by more than 300,000 employees working across 700 different offices of the firm, situated in countries of the Global North and in the Global South. The annual revenue of the company, as of the year of 2020, amounted to $ 32.7 billion.
Ernst and Young is considered as one of the best financial organizations to work for in the world today, and it has received several awards for the excellence and dedication that it has demonstrated in the rendition of its services. The commitment shown by the company towards client servicing and in ensuring client satisfaction makes it one of the leading competitors of PwC in the world, today.
McKinsey & Company
When discussing top competitors of PwC in the world, mention needs to be made as well of McKinsey & Company. This is an enterprise that officially came into existence in the year of 1926. It is a management consulting firm that is headquartered in the USA.
Some of the essential services that are offered by the firm are in the area, of strategic planning and management, with governments, professional organizations and corporations constituting the main client base of this business.
In terms of revenue growth, Ernst and Young is considered, to be one of the largest in the world, with the annual revenue of the company, in 2019, standing at $ 10.5 billion. The Enron scandal is a significant scandal that the company became embroiled in in, 2001 while the global financial crisis of 2008 was seen to hit the financial affairs of the firm quite hard.
Regardless of such obstacles, McKinsey & Company, has managed to retain a top position in the international marketplace, by virtue of its high-quality and professional financial and advisory services provided to clients of repute, from the world over. It is certainly one of the worthiest competitors of PwC today.
Bain & Company
Bain & Company is a management consultancy that is based in the American city of Boston in Massachusetts, and which is also one of the leading competitors of PwC today. It was in 1973 that the company was officially founded, with advice being provided by the company to private, public, as well, as, non-profit organizations.
There is a lot of acclaim that the company has acquired over the years not only because of the excellence that it showcases in the provision of its services, but also because of the corporate culture that it is known to create and maintain.
At present, the company runs business operations in 58 different locations and the net revenue of the company, as of the year of 2019, stood at $ 4.5 billion. Apart from experiencing a public relations crisis in the decade of the 1980’s there are no major events that have obstructed the affairs of the company.
Deloitte is also one of the most prominent competitors of PwC, with the company have a base in London, United Kingdom and being operational in 150 countries or more. The annual revenue of Deloitte as of 2020 stood at 47.6 billion USD. There is an extensive range of financial and professional services offered by Deloitte for its client base across the globe that includes risk management consultancy, financial advisory services, legal services, and services related to financial auditing and taxation.
It was 1845 that Deloitte was formally established, making it one of the oldest operating businesses in the world today. In spite, of having been caught up in litigation and various types of controversial audits, Deloitte is a firm that has managed to survive any and every controversy that has stood in its path to success and has been relentless in its pursuit of profit and excellence, and which is why it is regarded as one of the top competitors of PwC, today.
Thus, there are many competitors of PwC, as discussed above, that are worth knowing about, if you truly, want to gauge the level of competition and rivalry that this professional services enterprise is faced with.