Give us just 10 minutes of your time to bring you usable information on a relevant topic. We promise not to waste a minute of it. And if you want more, issues of 10Minutes will often be backed up by longer treatments, available from this Web site and in print. Note too, below: there’s an iPhone-iPad app for 10Minutes. Additionally, you can explore all of PwC's publications covering current business issues and industry trends.
After much deliberation, the FASB and IASB are set to release a final global revenue recognition standard in the coming months that will do away with current industry-specific accounting and instead apply a single set of principles to all revenue transactions. Changes to practices, processes and systems could ripple through your business. 10Minutes on revenue recognition provides information about the standard as well as insight into ways in which some companies are preparing for the broader impact.
Data protection and privacy is an urgent issue for both consumers and businesses. As customers increasingly worry whether their personal information is secure and used appropriately, companies are also concerned about protecting data and their brand. This 10Minutes highlights the importance of viewing consumer privacy from more than just a compliance lens and developing a strategy and action plan that will help businesses lead on data privacy by building customer trust and enhancing their brand.
Businesses depend on service providers to handle confidential data, run essential business processes, and manage critical technology. This can leave businesses vulnerable to service provider breakdowns. The result can be the providers’ clients violating regulations and even losing customer trust. Yet many businesses may know less than they realize about their service providers’ controls. This 10Minutes discusses how SOC 2 and SOC 3 reports can give businesses the picture they need to have solid confidence in their service providers.
It’s an opportunity hidden in plain sight. In 10Minutes on transforming the tax function, we discuss how the tax function is often overlooked as an area for improvement, unlike more obvious choices such as supply chain or business services. However, shining a light on the tax group can reveal untapped opportunities where changes in technology, process, people, and data can lead to benefits for the broader business.
New research shows that high-performing supply chains can achieve sales and revenue growth while managing costs. That sounds like a tall order, but there are things you can do now to manage your supply chain as a strategic asset to boost performance and profitability. This 10Minutes highlights how the supply chain can move your business strategy forward and set you apart from the competition.
Pharmaceutical companies stand ready to be tested in a world where a drug’s success is more closely tied to its performance. The challenges mount with competition from generics and growing pressure to reduce costs. Now, insurers and integrated providers are driven by models that reward health outcomes and cost savings. For success, drug makers are exploring real-world evidence, new payment models, and the right partnerships.
Whistleblower reform is having significant impact. The SEC’s Office of the Whistleblower has one full year of operation under its belt, and with it 3,001 tips and two awards to date. Leading companies are looking closely at the Office’s first-year report and drawing lessons for building stronger ethics and compliance programs. They’re also considering what it takes to create a highly ethical culture. This 10Minutes highlights the importance of having an ethical culture at the workplace.
Eco-efficiency can reduce costs for your company. And there are broader benefits, too: a stronger brand, greater productivity, and mitigated risk. Still, opportunities to save money while reducing your company’s use of energy, transportation fuel, waste, water, forest products or chemicals are often short-changed. Why? It’s most likely due to overlooked-but-valuable information.
After three years of outreach and deliberation, the IASB and FASB recently issued a revised proposal to overhaul the rules on accounting for leases, a move that could significantly boost US companies' reported debt.
10Minutes on conflict minerals provides insight into the strategic benefits and risks companies will want to focus on as they comply with the SEC's conflict minerals rule. The rule is effective for 2013 calendar year operations, so regardless of whether companies view conflict minerals as a supply chain opportunity, risk to their brand or another regulatory to-do, they should act now to prepare.
Consumer-packaged goods (CPG) companies, retailers, and their business partners often tout the ways they put customers at the center of their strategies. But while many companies do a good job of understanding their customers, perhaps not as many create demand by coordinating across marketing, sales, and innovation—functions and activities that now encompass the demand chain. This 10Minutes explores ways companies can capitalize on knowing their customer with demand functions pulling in the same direction.
This 10Minutes discusses why cybersecurity is more than an IT challenge—it’s a business imperative. New technologies, well-funded and determined adversaries, and interconnected business ecosystems have combined to increase your company’s exposure to cyberattacks. Critical digital assets are being targeted and the potential impact to your business has never been greater. In order to sufficiently protect the business, future cash flows, and shareholder value, your approach to cybersecurity must keep pace.
This 10Minutes outlines key points from PwC’s 2012 Annual Corporate Directors Survey that illustrate how boards are working to improve their oversight.
What does a customer-centered organization look like? What investments are needed to take you there, and what might that journey look like? This 10Minutes discusses these questions and how companies who focus on creating a customer-centered organization may reap real dividends.
Volatility has become a fact of life in today’s business landscape. Yet, after years of global expansion, many companies’ supply chains are brittle, unable to respond to frequent fluctuations in demand and supply. This 10Minutes explores strategies companies can deploy to make their supply chains more agile and adaptable.
In 2013, company leaders are looking for value creation from their operations. To achieve this goal, organizations are moving beyond shared services and outsourcing to a Global Business Services (GBS) model. GBS helps provide those intangibles by focusing on customer needs and business strategy first and foremost.
For non-financial services companies, regulations introduced by the Dodd-Frank Wall Street Reform and Consumer Protection Act and Basel III will result in significant changes to the derivatives market. Every aspect of a corporation using derivative to manage risk will ultimately be affected—from risk strategies and corporate funding to operations and accounting. This 10Minutes provides insight on the impacts of new regulation on corporate entities and what those entities need to do now in order to meet impending reform deadlines and ensure they're well equipped to manage increased costs and compliance responsibilities.
Environmental and social issues are posing greater commercial risks than ever. In this 10Minutes we'll explore what's changing and how companies can take a more forward-looking risk approach.
Talent continues to top the list of executive concerns. Company leaders are focusing on how talent can help them achieve the following four strategic priorities: power growth, realize ROI, manage risk, and enable transformation.
Signs point to a potential surge in domestic manufacturing, and US companies are carefully watching seven key factors that are impacting the trend. They also need to consider what a potential move or expansion of manufacturing facilities to the US could mean for all aspects of their business.
Academic medical centers (AMCs) are the nucleus of the U.S. health system, yet they face multiple challenges.
As Europe continues to grapple with sovereign debt problems, austerity measures, and recession, the Eurozone is changing and will likely emerge from the ongoing crisis looking quite different from the one we know today. Because the world is so interconnected, virtually every company will be affected and needs to figure out the impact on their companies worldwide - from strategy and operations to execution - and start preparing now.
In this edition of 10Minutes we talk to leading edge companies about what is driving new mobility patterns and their current talent mobility practices, both from a short and long-term strategy perspective.
Audit committees, management, and auditors work together to meet the information needs of the capital markets and to ensure quality audits and financial reporting. The leading practices in this 10Minutes may help audit committees continue to improve their oversight of auditors and management, thereby enhancing the quality of audits and financial reporting.
The best disaster survival manual may be obsolete if it doesn’t anticipate major disruptions to the supply chain or at outsourced operations. As a result, business continuity management programs are being designed to continually assess— as well as counter—risks stemming from the interdependencies integral to running a business.
For 2012, US CEOs show measured optimism as they face wide disparities in their operations around the world. Slow recovery at home and the crisis in Europe are immediate concerns. But they are taking deliberate steps to grow in priority markets.
Managing risks related to dwindling freshwater supply is becoming more urgent for businesses. This 10Minutes discusses how companies can prepare for the consequences of water scarcity by monitoring water use, evaluating risk across the supply chain, and partnering with local communities to replenish water supply.
Designing and delivering truly exceptional customer experiences has become the key to achieving sustainable, profitable organic growth. In fact, new socio-economic and demographic conditions have fused themselves with technological innovation to redefine the very nature of customer value and how businesses should go about delivering it.
The way we assess value in medical technology is changing radically. Payers are refusing to pay for incremental innovations that do not significantly improve health or reduce cost.
As Asia Pacific economies continue their rapid growth and become more deeply integrated, multinational companies are changing how they're expanding in the region for the long-haul--from setting up regional hubs and distribution networks, to developing local talent, to building brand loyalty amongst the region's rapidly growing number of middle class consumers.
Employees with access to flexible work arrangements (FWAs) tend to be more satisfied, committed and engaged with their jobs, which leads to increased innovation, quality, productivity, and growth.
In this short report, PwC discusses new governance regulations, new risks, and issues of executive compensation and succession planning.
Healthcare will reach nearly 20% of the US GDP by 2019 and is bursting with new products and services. It is also enticing more and more businesses to enter this marketplace. Here’s why you should take note.
Africa has some of the world’s fastest-growing economies and offers the highest risk-adjusted returns on foreign direct investment among emerging economies. To succeed, investors must look beyond dazzling returns and one-off projects, and sign on as participating partners in Africa's long-term growth and development.
Revenue, or the “top line,” is a closely monitored measure of an entity's growth and market share. The FASB and IASB are currently in the process of replacing existing revenue guidance with a new global accounting standard for all revenue transactions. How will this change affect your business?
Companies seeking growth in China are exploring alternatives to outright M&A strategies, acquisitions, traditional joint ventures, wholly foreign owned entities (WFOEs), and dollar-denominated private equity funds to succeed. Here we discuss their approach.
The changing global economy, emerging markets and a renewed focus on growth — how are companies capitalising on opportunities to increase revenue, create innovative products and services, and fill skills gaps in unfamiliar parts of the world?
As early as 2014, in the US and internationally, leases could be required to appear on companies' balance sheets, which will impact debt and earnings metrics, and some companies' ability to borrow or spend capital PwC looks at the issue, and how procurement, IT, tax, treasury, operations, HR, finance and accounting can all be affected.
Higher employee engagement means improved retention, customer loyalty, revenue, sales and profit. But should you strive to raise engagement among all employees? The answer may surprise you.
Emerging technologies like cloud computing and social media are growing more sophisticated, but so are hacker techniques. As companies look at growth initiatives and ways to hold down costs, what should CIOs do to protect critical data and avoid other information security risks?
The Wall Street Reform and Consumer Protection Act (The Dodd-Frank Act)ushers in a new financial regulatory architecture. Of chief concern to business leaders: How will The Act affect my company's ability to fund its needs, maintain liquidity, earn competitive rates on cash and investments, manage commodity and financial risks through derivatives, and provide financing to my customers?
Cloud computing can help businesses meet demands for greater agility as it is changing the ability for companies to deliver solutions at the new speed of business. Cloud computing solutions have the potential to accelerate innovation and time-to-market, enhance customer engagement, and improve connections across the network of suppliers, time zones, and cultures.
What actions are companies taking to restore, sustain or enhance trust in business? We take a closer look at this and identify some potential benefits of those actions, like better risk management, operational innovations and sources of companies' next competitive advantage.
Though c-suite executives are pretty comfortable with technology these days, they can work with their CIOs and CTOs to use new technology to build competitive advantage. With new products and services, CIOs and CTOs are helping to win loyal customers while running increasingly efficient IT organizations. Is your company embracing these opportunities? If not, here’s some insight into what you can do.
Companies will need to re-examine their benefits strategies in the wake of Congress’ passage of the most substantial change to the health system since Medicare. How can agile companies prepare for the major changes coming their way, since the new healthcare bill will affect all employers regardless of size?
The link between talent and business results was apparent during the financial crisis, as pivotal employees proved the difference at many firms. HR can play a key role in growing a company’s bottom line through four key actions: building the brand, aligning talent and corporate strategies, developing talent and measuring success. What is your HR department doing to help your company’s performance?
In this business brief, PwC discusses the risks and opportunities associated with global infrastructure investment, and offers insight into optimal project management, governance and assurance.
PwC looks at how new federal guidance refines the pay-for-performance compensation model for all public companies, not just banks and financial services institutions.
In this business brief, PwC shows how enhancing Internal Audit's role can help you reduce risks, optimize costs, and execute your growth strategies.
It’s a year into the financial meltdown. What have directors been thinking and doing about it? Some are putting off key changes to operations and business models until regulators and Congress resolve policy issues like healthcare, greenhouse gas emissions, financial regulation, and executive compensation. Others aren’t waiting around for that to happen. They’re seizing growth opportunities now.
Mandatory reduction of greenhouse gas emissions will affect all companies, not just heavy emitters. In this business brief, PwC shows what companies can do to prepare for cap-and-trade.
We look at how prosecutions and fines are increasing under the FCPA, UNAC regulations, and anti-corruption compliance strategy. We also discuss using forensic due diligence and corporate intelligence to expand into foreign markets.
New reporting requirements for off-balance-sheet arrangements will impact financial reporting as well as current and future business ventures, financing, financial metrics, operations, stakeholder communications, internal controls, and IT systems.
To be successful, diversity efforts must entail more than just feel-good initiatives or programs that can be toppled by budget cuts or lethargy. Take 10Minutes now for PwC’s view on diversity and how cultural dexterity is key to creating sustainable competitive advantage.
Global supply chains are caught in a perfect storm of rising bankruptcies, soaring debt, tight credit, and weak demand. But in this 10Minutes, you’ll see how companies can build more resilient supply chains during an economic downturn by identifying their most critical partners and strengthening those relationships for long-term advantage.
Companies are under pressure to reform how risk is assessed and to measure its effect on a company’s performance. Linking risk and performance gives companies the confidence to take smart risks.
There’s a massive need to renew US infrastructure. What forces are converging now to make it happen? Take 10Minutes for a quick overview of the factors and risks – like skills shortages, hidden costs, vulnerable supply chains and more -- and what goes into good management in today’s environment.
PwC analyzes the proposals to change the taxation of US multinational corporations in President Barack Obama's proposed fiscal year 2010 budget.
Across industries, at one level or another, enterprise applications (and whether they’re agile, efficient and cost-effective) sit at the core of a company’s ability to weather the current economic downturn – or capitalize on it. 10Minutes discusses how economic downturns can be the best time to undertake a wide range of ERP-related actions.
The economic crisis has markedly changed the business and regulatory landscape. Which long-held assumptions about market forces are losing currency, and what will take the place of those assumptions? Here, directors step in with their hands-on experience and wisdom to help management negotiate the new terrain and ultimately keep their companies on course.
How will the $787 billion stimulus package put forth by President Obama really affect business and the economy? Will it have the desired impact it claims? Will it force you to change your business strategy and what will you have to keep in mind concerning accountability, transparency and control? Take 10Minutes to find out now...
10Minutes on bolstering corporate liquidity discusses how companies today face an environment where credit is still scarce and cash is king. While companies can employ short-term cash management and tax strategies to provide liquidity relief today, they must also develop a more long-term approach to liquidity planning to mange through a re-pricing of credit risk and an extended downturn.
How can organizations minimize, offset, or capitalize on the business consequences of a global economic slowdown when deciding to implement or re-evaluate their current shared services centers? Here we give our view.
What disadvantages do sellers face from the credit crisis, volatile stock markets and the recession? They have fewer buyers, more caution and lower deal multiples. In response, companies are exploring their options – like divestitures – as a way of raising cash, shedding debt and improving performance. Here we share some ideas on how you can make divestitures successful for your company.
PwC's insights on intelligent and sustainable cost reduction. Companies must simultaneously tackle both cost reduction and the company's cost management and control in order to realize enduring change to spend.
PwC presents an overview of the possible impact the Obama proposals for healthcare reform could have on businesses In the coming year, large employers could face major changes in this area proposed by President Obama and members of the Democratic Congress.
Before reflexively introducing across-the-board headcount reductions, it is useful to first identify your "pivotal talent"— those game-changing employees whose performance can make or break your bottom line.
The risk of data and identity theft is on the rise and PwC understands that data losses can be devastating and risks are substantial, including compromise of company IT systems, direct financial impacts from investigations and customer lawsuits, erosion of brand reputation, loss of customers, government fines and regulatory mandates. Having strong data safeguards in place can help secure a company's reputation, competitiveness, and financial well-being.
With mandatory IFRS transition likely to begin in 2014, companies need to look at how management will communicate with investors post-transition; how some companies may need to change their business practices with customers and vendors; and how the change to IFRS will affect compensation. Here, PwC offers in-depth overview of the issues.
Fair value is the best available method for financial instruments but its limitations and challenges should be carefully evaluated before expanding its use beyond where it's applicable today. PwC has some guidance you can use.
Here we outline steps companies should be taking now to anticipate both risks and opportunities from likely tax reform scenarios and how to prepare for potential outcomes.
Will climate and energy policies strenthen the economy and national security, while protecting the environment? Carbon dioxide greenhouse gases targeted by cap and trade policies and stimulus for low-carbon technologies aim to help, but if enacted, how will they affect how the US produces energy?
An environment of constant change demands a new approach to business strategy. While creating efficiencies and cutting costs through process standardization and IT investment was once an effective way to create competitive advantage, companies are now finding themselves bogged down by inflexible systems and processes. Companies must reclaim the right balance of standardization and flexibility and develop a new core competency: agility.
International Financial Reporting Standards (IFRS), has so much support in the US that the SEC has designated a date for mandatory adoption by all US public companies. What are the benefits? For one, the use of globally accepted standards will increase the competitiveness of US capital markets by removing barriers.