04 May, 2020
PwC has quietly undergone a profound change. Over the last few years, as the firm embraced digital transformation, globalized the BXT (Business, Experience, Technology) approach, and embedded emerging technologies into nearly every consulting engagement, PwC put into place — by strategic foresight or happenstance — the building blocks needed to evolve from a traditional consultancy into a business solutions provider, in its own terms.
In a special report, TBR highlights what they have witnessed over the years and what they learned when they spoke recently to 3 of PwC’s leaders to discuss how the firm has evolved and what it expects to be in the future.
The report mentions that: “The firm’s technology evolution started at least 10 years ago, with the Hallandale Experience Center perhaps the most critical catalyst in changing the firm’s overall approach to embedding technology into every engagement.”
It goes on to say that: “While previously PwC developed bespoke solutions within an industry or service line, with little collaboration across the firm, the recent shift included consolidation of the independent assets that had potential and a scrubbing of these old assets through a digital process pipeline. By putting the solutions through a rigorous vetting process with the goal, as explained by PwC, of determining which assets would meet consistency and quality standards as well as “make an impact,” the firm created a model for product innovation that could be implemented across all of PwC. As one PwC leader noted, “The assets were there. PwC Digital’s job was to put them together.” In addition to process, the firm also needed creativity and a willingness to disrupt itself.”
According to Dave Clarke, Chief Experience Officer, PwC, “In order to be successful in this digital world, it is vital for us to coach teams on how they can develop new ideas and bring them to fruition. Successful digital transformation lies at the intersection of Business, Experience and Technology. We work with our clients and PwC colleagues worldwide and across the breadth of our Firm to consider the right problems for tomorrow’s solutions by uniting viewpoints so that everyone focuses on a single purpose and outcome - something that isn’t possible when viewed through only one lens.”
When commenting on ‘PwC Products: The $500M business built on BXT’, TBR states that: “PwC’s sustained push to make the BXT framework how the firm approached every engagement has made this evolution to PwC Products easier, even if that benefit was not anticipated by the advocates for BXT over the last few years. Two years ago, TBR noted, “Scott Likens, Emerging Tech Leader, US, China and Japan, perfectly captured what BXT means for the firm: ‘BXT is the only way we will be able to work in the future.’