Given the frenetic pace of business and the many new communication channels available (mobile phones, email, voicemail, texting, Skyping, Facebooking, etc.), it has become increasingly difficult to distinguish yourself and your company amidst all the “noise” from competing messages.

As you think about how to differentiate yourself and to make a meaningful first impression on others, take the Elevator Speech concept – the speech you give in 30 seconds designed to “hook” the listener – and spin it into an Elevator Dialogue that quickly engages your new conversation partner.

Elevator Speech vs. Elevator Dialogue – What’s the difference?

An Elevator Speech is just that – a speech. You are giving someone as much information as you can in a short amount of time. The premise is that in 30 seconds the elevator doors will open and that person will be gone. You can only hope they remember something, anything about you and your company. The Elevator Dialogue, in contrast, starts off similarly but, instead of ticking off specific talking points about your company, you ask the other person a question and create a two-way conversation.

Here’s an example of what I’m talking about. You are Kevin, and you’ve just been introduced to Brian, the Product Manager at Greenway Company. You’ve been trying to get your foot in the door there for years. Brian asks you to tell him about yourself, and you launch into your well-rehearsed Elevator Speech.

Kevin: Brian, my name is Kevin Madsan. I’m the Product Specialist at Meshlink. We are the leading producer of mesh packaging products in the nation. We have offices in 40 states and are expanding into new markets every day. Our patented technology allows us to develop a product that is strong, light weight, and cost efficient when used with small- to mid-size packaging sizes. We have standard size mesh products, and we can customize our products to meet all of your packaging needs. Here’s my business card. I’d welcome the opportunity to set up a meeting with you to discuss how our packaging can work for your organization.

Brian: Thanks, Kevin, but we’re already doing business with Meshforce. Their product has served us well for the past 5 years.

In this example, Kevin did his best to get all of his well thought out talking points out and to ask for a meeting, but it ended with an unsatisfactory result. If Kevin had an Elevator Dialogue mindset instead, here’s how it might have played out:

    Kevin: Brian, my name is Kevin Madsan. I’m the Product Specialist at Meshlink. We are the leading producer of mesh packaging products in the nation. We have offices in 40 states and are expanding into new markets every day. Our mesh packaging is light weight and cost efficient when used with small- to mid-size packaging sizes. Do you use mesh packaging?

    Brian: Yes, we’ve used Meshforce’s QR 18 and QR 20 products for the past 5 years.

    Kevin: I’m familiar with both of those products from Meshforce, and they’re both quite good. At Meshlink, we have a product that’s very similar – the difference is that, with our patented technology, we’ve been able to develop a product that’s stronger and lighter. And our price is competitive with Meshforce. Companies that use our product have saved thousands of dollars in their overall production and shipping costs. I know your time is limited, Brian. I’d like to schedule a meeting with you to show you how our product can save Greenway money.

    Brian: Kevin, I’d like to learn more about your products. Here’s my card, call me tomorrow to set up that meeting.

By engaging in an Elevator Dialogue and not a speech, Kevin did not close any doors and was able to find out fairly quickly that his product was something Brian would be interested in learning more about. And he was able to get a commitment to set up a meeting!

When you think about the Elevator Dialogue approach, here are five best practices to keep in mind:

1. Keep your message simple.
2. Be prepared.
3. Use language everyone can understand. Avoid jargon.
4. Ask a question early to get the other person talking.
5. Listen closely to how the other person answers your questions and adjust accordingly.

So, the next time you meet someone new, consider having an Elevator Dialogue with them. Who knows, it may be so fascinating that they choose not get off at their floor and instead ride the elevator all of the way to yours in order to continue the discussion with you.

The post Elevator Speech 2.0 = Elevator Dialogue appeared first on Big4.com.

By Andrew Sobel, Big4 guest blogger

“The market has changed dramatically,” a senior partner at a major law firm recently told me. “I’m beginning to wonder if clients even want a trusted advisor anymore. Much of the time it just comes down to price. It’s discouraging.”

Another client of mine, a senior executive in a large global consulting firm, echoed this sentiment: “Selling cycles are much longer that they used to be. Procurement is usually involved, and they can be brutal at squeezing down the price. Sometimes, after you invest a great deal to educate the prospective client, they just decide to do it themselves.”

Since 2008, many business professionals are feeling pummeled by intense price competition and ever-harsher client demands. They are asking:  Is becoming a client’s “trusted advisor” an antiquated aspiration in a world where clients seem mainly concerned with getting the lowest price? Is it still relevant when procurement routinely comes between you and your executive clients? Do relationships, in short, really matter anymore?

Do relationships still matter?

The short answer is “Yes…but.” For many client executives, the role of trusted advisor is still relevant and valued. Trusted relationships are still very important. And, providers who offer substantial, differentiated value are getting handsomely rewarded for their expertise. There is abundant evidence for this: In even the most cutthroat markets there are competitors who command premium prices.

For example, in the last year, the number of law firm partners in the US billing more than $1,150 per hour has doubled. In line with that fact, the lawyers who have been able to raise their rates during the recession are the most expensive ones, whereas the most intense price pressure has been at the bottom of the billing rate scale. Remember, value is derived from two terms: Benefits and costs. If you cannot persuasively convince clients about the benefits they will receive, they will try to increase value by cutting your price!

That said, market conditions and client buying behavior certainly have changed since 2007. It’s tougher out there. To succeed, to have to select your clients carefully, demonstrate value-added at every stage of the client development process, and be more assertive and persistent than before.

Now we’re going overboard…

It’s not just practicing professionals who are questioning whether trusted relationships still matter. A number of authors and pundits have also jumped on the “relationships don’t matter anymore” bandwagon. In recently months, for example, I have read the following in various books and blogs:

• “Relationship-oriented salespeople are the worst performers”
• “No client wants a ‘consultative salesperson’”
• “Solution selling is dead”
• “No one really values a trusted advisor—what they want is results.”

I hate to be cynical, but most of these statements fall into the category of trying to grab attention with false contrasts. It’s like the newspaper headline that reads, “Research proves that loving mothers raise more juvenile delinquents.” Then you read the article, and you learn that the mothers categorized as “loving” were the ones who were so accommodating that they let their kids have booze parties at home starting at age 16! Loving, indeed.

One recent study, for example, defines relationship-oriented salespeople as those who seek to please their clients, avoid conflicts, don’t confront their prospects with hard truths, and so on. But who ever said a trusted advisor did any of these things? Be wary of sensational headlines.

Relationships are still important, but you have to get sharper. Here are eight strategies that will help you not just survive but thrive:

1. You won’t become a trusted advisor to all your clients, but you should still aspire to the role. You will not reach “advisor” status with many of your clients. Even the best firms and professionals have this type of relationship less than 50% of the time. Yet, you must strive for the role. In some ways it’s like aspiring to play tennis like Rafael Nadal. If your goal is to beat your aging, out of shape neighbor on the court, you won’t have to try very hard and you won’t improve much. But if you set your sights high, you will engage much more vigorously in the training needed to excel. You may never compete at Wimbledon, but you will improve your game dramatically and whip your average club opponents. The other side of the coin is that if you don’t set your sights high with clients, you’ll get marginalized pretty quickly by more aggressive and determined competitors.

2. Improve your advisor skills and you’ll be more successful in almost every client situation. Below is a list of some the things that a client advisor does. Despite difficult market conditions, do you think these are still important in winning sales and building long-term client relationships? Client advisors:

• Ask great, thought-provoking questions and they are deeply empathetic
• Have selfless independence: They combine client devotion with detachment. They put their clients first but are willing to say “No!” to them.
• Have deep expertise but also knowledge breadth. Because of this, they can put their specific products and services into the context of their client’s broader business.
• Are good at analysis but especially synthesis—at big picture thinking. They see the trends and make the connections that others do not.
• Go beyond “professional credibility” and build deeppersonal trust with their clients. They have great integrity, put their client’s interests first, and are immensely reliable and consistent.
• Are agenda setters. They don’t just take orders. They engage and stimulate their clients with points of view, best practices, new ideas, and so on. They try to shape and drive their client’s agenda of key priorities and goals.

These are important skills, period. Here’s some data: RAIN Group recently did a survey of 700 corporate buyers in business to business markets. They were asked what qualities separated out the winners from the second place finishers in competitive bids. What were the number one and number two characteristics of the winners? First, that the salesperson “Educated me with new ideas or perspectives”; and second, that he or she “Collaborated with me.” These are exactly the kinds of things a trusted advisor should be doing at every stage of the client development process. (Note–the actual study RAIN did is available here).

3. For selected clients, be a trusted expert. Some clients will view you as a narrow supplier and focus on price and execution. So don’t over-invest in these situations.  Be realistic: For these clients, you can be a “steady supplier” who is considered a trusted expert by the client. But you won’t be part of the inner circle. If your profit margin from the acount is acceptable, these types of relationships can represent good business for you.

4. Understand that the better your relationship, the more value you have to add. Just because you have built a great relationship doesn’t mean you can relax.  On the contrary, you have to continually re-earn your client’s loyalty by delivering over and over and by adding value and creating results. In a trusted relationship, clients’ expectations go up, not down! They expect you to work very hard for their love.

5. Choose your clients carefully to match your strengths. I recently spoke at a large sales and marketing conference in Santiago, Chile. I spent time there with bestselling author Neil Rackham (“Spin Selling”), a leading authority on selling. One of his key assertions is that the market has segmented into transactional buyers and consultative buyers, and the requirements to succeed in each are quite different. If you provide a high-end, value-added service, you probably aren’t going to do well with transactional buyers who only value price. Pick the right clients to invest in, say no to others, and your business will thrive.

6. Build a following. An important antidote to difficult market conditions is to build a strong and loyal following. What is your client retention rate year over year? How about over three years? What could drive that figure higher? How would you rate the total “client experience” that you offer? Would you say it’s average? Competitive? Differentiated? Are clients merely satisfied with your work or truly enthusiastic about it and telling others how good you are? Think about how you could create more client enthusiasm, excitement, and passion around your work and your brand.

7. Work at differentiating yourself instead of blaming clients for not understanding how special you are. If clients don’t see how you’re different than your competitors, that’s your fault, not theirs. It’s a basic principle of economics that when a buyer perceives equal substitutes there will be downward pressure on prices.  There are many, many ways to differentiate, and in every market—including commodity markets—there are always competitors who successfully do so. You can differentiate on service levels, methodology, geographic focus, industry specialization, the client experience, relationships, and so on.

8. Treat prospects like clients and old clients like new ones. The goalposts have been raised. Clients expect more value in the sales process. And, when they have an ongoing relationship with you, they expect ongoing innovation and investment. Be selective about who you target as a prospect, but then treat them like they are already a client. Act like you’re already their trusted advisor. Then, treat your long-standing clients like brand new ones—bring the same enthusiasm, new ideas, and energy to the 100th meeting with a client that you brought when you were wooing them. That’s what keeps trust and loyalty strong.

It’s a much tougher world out there. Yes, sometimes even brutal. But here’s a final reason to keep the faith: Relationships reduce risk and are here to stay. One of the most fundamental benefits of a trusted relationship is risk reduction. A good, trusted relationship reduces the risk of misunderstandings, delivery failures, and missed deadlines. It also enables business to be conducted faster. Clients know this and value it because we live in a world that’s more fraught with risk than ever.

Do relationships still matter? What has your experience been?

*****

About Andrew Sobel

Andrew Sobel helps companies and individuals build clients for life. He is the most widely published author in the world on the topic of business relationships, and his bestselling books include Power Questions, All for One, Making Rain, and Clients for Life. His clients include many of the world’s leading companies such as Citigroup, Hess, Ernst & Young, Booz Allen Hamilton, Cognizant, Deloitte, Experian, Lloyds Banking Group, Bain & Company, and many others. Andrew’s articles and work have appeared in publications such as the New York Times, USA Today, strategy+business, and the Harvard Business Review. He spent 15 years at Gemini Consulting where he was a Senior Vice President and Country Chief Executive Officer, and for the last 17 years he has led his own consulting firm, Andrew Sobel Advisors.

He can be reached at www.andrewsobel.com

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For your Board to effectively govern it must be have a positive culture.  And a productive Board culture will positively affect your organization’s culture and operations.  You can have an appropriate number of members, good committee structure, members with a sufficiently diverse competencies, and ethics and conflicts of interest policies; however this does not guarantee that your Board will effectively achieve its governance responsibilities. How Board members interact with each other and conduct themselves is also important.

For the characteristics of effective Board culture go to:  http://www.advancingyourorganization.com/?p=2933

Michael VanBruaene was a KPMG Director and blogs at  Michael VanBruaene Organization Performance Improvement Services – Advancing Your Organization (www.AdvancingYourOrganization.com). He can be contacted at mvanbruaene@pacbell.net.

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Coaching typically involves a relationship between a target employee and a professional who is ahead of them but relatively close in terms of career progression and is focused on short-term tactical skill building related to role the employee currently occupies. The goal is short-term behavioral change.

A coach might be your boss, another internal leader or expert, or an outside expert hired for a fee. A coach learns about you through your past interactions, observation, and your employee records – especially evaluations. The behavioral targets for change might be hard or soft skills, and in either case you will strive to set goals over one or two performance periods – not one or two years.

Great coaches follow a few common guidelines: they set clear and reachable goals for the employee that are modestly challenging, they communicate often without being too intrusive to keep the employee focused, they ask great questions to stimulate thought as opposed to simply giving advice, and they also try to remain open to feedback and advice to make the relationship mutual.

Here’s what they didn’t tell you: not everyone wants to be coached, not everyone is coachable, and not every coach knows how to coach and maybe should retire.

Any quality resource can be wasted if a person is not open to honestly using it. Employees must genuinely want to be coached. It pains me when I see trouble employees targeted for 360s and coaching engagements. The ROI here is terrible. Use your limited bucks wisely and spend them on higher potential employees who actually want to grow.

Next, some folks, due to personality or IQ, are not remotely coachable. No amount of savvy coaching will change a person’s personality. Don’t try. Instead focus on improving your hiring skills. Also, to be blunt, you can’t coach stupid. Reference my hiring comment.

Finally, recognize that coaching requires exemplary communication skills. Not average. Not pretty good. Exemplary! That’s why half of the coaches, in practice, add no real value. Some coaches actually do harm and really should retire.

Coaching is a very useful paradigm in professional life. However, just as in sports, there’s a reason some folks are coaching at the high school level, others in college, and still others in professional leagues. Skills vary widely. Get the most bang for your coaching buck by remembering that not all folks want to be coached, not all are coachable, and some coaches need to retire!

Dr. Dewett is an author, speaker, coach, management professor, consultant, and Harley Davidson nut. His job is to build better leaders and teams. He is the author of The Little Black Book of Leadership. Recent clients include: Booz Allen Hamilton, State Farm, JM Smucker, Medtronic, TGI Fridays, Standard Register, Cox Media, NCR, Sogeti, Emerson, RustOleum, and many more. His unique brand of energetic leadership knowledge has resulted in quotes in the New York Times, BusinessWeek, Forbes, CNN, Investors Business Daily, USA Today, and hundreds of other outlets. After beginning his career with Andersen Consulting and Ernst & Young, he has since consulted with, trained, spoken to, or coached thousands of professionals around the world. Visit his home online at www.drdewett.com.

Check out Todd’s new work as one of the leadership experts at Lynda.com:  http://www.lynda.com/Business-Business-Skills-tutorials/New-Manager-Fundamentals/119004-2.html

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Advice abounds on “asking good questions” during the sales process. I believe much of it is confusing or even misleading.

My clients and readers have enjoyed Power Questions, but have asked for more detailed guidance about the use of questions specifically in sales and business development. In response, I have just published a short ebook entitled Power Questions to Win the Sale. My next few blogs are based on it.

Here are some examples of what I mean by misleading advice about asking questions:

“Always start with questions. You have to make the conversation all about your client’s issues.”

This depends on who asked for the meeting. If call a prospect and ask to meet, you can’t go in and immediately start peppering them with questions. You have to set the agenda, explain the purpose of your meeting, and first add some value by giving a brief overview of some client examples or trends that you’re helping your other clients grapple with. If your prospect or client asked for the meeting, that’s different–then, you can start with some well-chosen questions.

“Inquiry-based sales is dead”

Really? What they mean is that a sales approach that relies entirely on asking questions doesn’t work. That’s true. But it’s a strawman, because we always knew you couldn’t  just walk into a prospect’s office and ask them 30 questions and expect to walk away with a contract!

“You must provoke your customer”

That’s great–but only when you have a truly provocative idea and only once you’ve built some rapport and trust! That’s like a career strategy founded on becoming a professional basketball player or a supermodel. You need a broader set of value-added conversational strategies than having a breakthrough, provocative idea for every meeting.

“Ask only open-ended questions. Don’t ask closed-ended questions”

Well, if I never asked any informational questions I would be rather ignorant about my client’s business. You almost always need to ask a few closed-ended questions, especially at the beginning of a relationship.

“Always start with a few general questions about the client’s business”

Maybe. It depends. “How’s business?” is OK for someone you know pretty well, but if you walk into a Senior Vice President’s office and ask such casual, jaunty questions, it will most likely communicate a complete lack of preparation.

For my next post I’ll highlight some “Strong” and “Weak” questions you can use in the sales process. These are all taken from my new, short ebook that John Wiley & Sons has just published, Power Questions to Win the Sale: Overcoming Nine Sales Challenges.

What general principles work for you as you use questions during the sales process?

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Power Questions to Win the Sale: Overcoming Nine Critical Sales Challenges is available in all major e-reader formats: Amazon Kindle, Nook, and iBook

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Andrew Sobel helps companies and individuals build clients for life. Andrew was a Senior Vice President and Country Chief Executive for Gemini Consulting (15 years). He is the co-author of the newly-released Power Questions as well as the author of the business bestsellers Clients for Life, Making Rain, and All for One. He can be reached at www.andrewsobel.com, where you can download a free set of Power Tools to help you get better at asking Power Questions.

The post Misconceptions about Using Questions in Sales appeared first on Big4.com.

By Rob Starr, Content Manager, Big4.com

PwC survey

The findings of PwC’s recent survey of private equity backed companies indicates that the popular perception of private equity as an investor only involved for short term gains couldn’t be further from the truth.

Nearly three quarters of respondents feel they are either quite or very ready for an exit if an offer came up now and 60% have drawn up a list of potential purchasers. Expectations around the time frame for an exit have also fallen slightly from the previous year. Operational performance remains a challenge with one in four finding it difficult to model future scenarios, suggesting there is a significant minority who could benefit from more control over their strategy by their PE owners. In addition, portfolio companies are reporting that with more of a focus on business drivers.

James Fillingham, partner, head of private equity deals at PwC comments:

“The private equity industry and the companies it backs remain in good health. There is a large volume of funds still unspent in private equity, as well as a large number of portfolio companies that will see exits. Those exits will demonstrate the ability of private equity and the companies they back to create value and show growth above GDP. That growth will come through the UK economy in more jobs, more taxes and more spending.

“It is also an interesting world where the equity provider is more willing to put in more money than the bank, a secured lender. This shows private equity firms are more prepared to take measured risks and to support UK companies investing in growth”

from PwC files

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In today’s business environment, if you are committed to creating a meaningful impact with the work that you do, I assert that you must approach each business situation as a consultant, whether you have an internal or external role. Why? Well, there are two big factors. One, we all have stakeholders – also known as “clients” – for whom we have to produce results. And, two, when you act effectively as a consultant, you dramatically increase your opportunities to produce results that are truly outstanding.

In general, when you have clients to serve, internal or external, your ability to do the necessary – to identify their needs and implement the right solution – is critical to success, but it’s not everything, and it’s definitely not sufficient to make you a Great Consultant.

So, let’s take a closer look at what those secret-sauce ingredients are, and here is my Top 10 list of what I think it takes (in no particular order – why? –because you need them all to be a Great Consultant).

1.  Opinionated – The first and foremost thing a consultant needs to have is an informed opinion or, in more “consultantese,” a point of view (POV). What is your take on the situation given your experience and expertise? Or, as many clients wonder, what can you tell me that I don’t already know?
2. Pragmatic – One of the biggest faults I see with consultants is taking a purist view of their field of expertise and, when I have the chance, I tell them that what works in textbooks doesn’t usually work in the real world. A practical approach, informed by appropriate theories, will help ensure the best outcome for your client and will often set you apart from others.
3.  Passionate – No faking here, you’ve got to really care about helping your clients. A Great Consultant gets invested in the client’s issues and gets excited at the prospect of making a difference.
4.  Resilient – We all have bad days. We all hit brick walls. What distinguishes Great Consultants, however, is the ability to pick themselves up by the bootstraps when things aren’t going well, motivate the team, and keep helping the client to see the light at the end of the tunnel.
5.  Business-minded – An area that many consultants (at least in the Talent Development arena) lack is business acumen. Understanding how a business operates, what drives decisions, and what makes the industry unique really sets consultants apart.
6.  Professional – Consultants should hold themselves to the highest standards of ethics, confidentiality, and integrity. In addition, always present a professional demeanor. Don’t get your feathers ruffled. Look calm even if below the water your feet are paddling like mad!
7.  Curious (but skeptical) – Ask questions, listen, and be professionally skeptical. As a consultant, your value comes in asking the tough questions, culling out the inconsistencies, and driving to the root causes.
8.  Resourceful – Know when to enlist help. None of us is an expert in everything, and you should always know: 1) when it’s time to bring in reinforcements, and 2) where to go to find them.
9.  Influential – Your ability to influence may be as important as your expertise (if not more so). Great Consultants know how to be savvy and navigate situations with dexterity. And always think about what it takes to make the client look good. Let your good idea be theirs.
10.  Strategic (and tactical) – Seeing the big picture and connecting dots may be some of the most important value you bring to your clients. And, while being strategic is great, you also need to be tactical – to focus on effective organization and successful execution.

My main objective here is to toss out some ideas and get you thinking on areas where you may be able to step up your game. And, if as a fellow consulting veteran you’ve got other perspectives that I didn’t highlight, then bring ‘em on, and we’ll share them with others.

In the final analysis, if each of us strives to do the best we can for our clients, then we’re all one step closer to making differences that matter in the workplace.

(Gabrielle’s Great Consultant article first appeared in the online Free-Range Learning News in March 2012. Click here to access the full article.)

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By Rob Starr, Content Manager, Big4.com

According to the sixth annual 2013 Global Powers of Consumer Products report issued by Deloitte Touche Tohmatsu Limited, the world’s 250 largest consumer products companies grew by 7 percent in fiscal year 2011 (which encompasses fiscal years ended through June 2012) despite global economic uncertainty, with total sales exceeding $3 trillion, up from $2.82 trillion in fiscal year 2010.

The Deloitte report also measured year-over-year composite growth rates by region, with Africa/Middle East companies (24 percent growth) posting the highest gains, followed by Latin America (16 percent), North America (14 percent), Europe (4 percent), and Asia/Pacific (2 percent). However, within Europe, French companies year-over-year growth (15 percent) outpaced their German (6 percent) and British (6 percent) counterparts. North America had the highest composite net profit margin (10 percent) of all the regions.

For the second consecutive year, the fashion goods industry posted the highest growth rate (14 percent) of all the product sectors analyzed. It also remained one of the most profitable, with a composite net profit margin of 8 percent. On the other hand, the food, drink, and tobacco sector saw its top 250 representation decline. Nevertheless, the sector reported substantial composite sales growth of 9 percent.

The report also gauged consumer behavior trends particularly in light of digital growth. With the increase of smartphone and tablet adoption, the impact on consumers and their “path to purchase” has been evident. Deloitte research has found that 58 percent of consumers who own a smartphone have used it for store-related shopping.

from Deloitte files

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For companies today, everything is fast paced. The speed at which technology advances is incredible. While there’s non-stop regulatory reform, moves are also underway to deregulate and company stakeholders increasingly demand transparency and accountability. Meanwhile, emerging markets and continued economic uncertainty add to an already risky business environment.

From the boardrooms to the back offices, we work with companies to deliver company controls that help them protect and strengthen every aspect of their business from people to performance, systems to strategy, and business plans to business resilience.

PwCs Risk Assurance (RA) practice is composed of more than 2,300 resources with significant industry and technical expertise in a broad range of risk and compliance issues.

Please see full job description here.

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When you choose KPMG as the place to build your career in tax, you can really add value. KPMG’s tax partners and professionals pride themselves on understanding our clients’ business strategy and needs, providing a broad range of federal, state, local and international tax services to meet those needs. We are currently seeking a Manager to join our Federal Tax practice in our Shreveport office.

Please see full job description here

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PwC commentary

The Government announced new measures to support shale gas exploration and Alan McCrae, head of UK energy tax,PwC commented saying that they are planning to consult on these changes and are also considering whether this could be extended to other forms of onshore unconventional gas, possibly including coal bed methane. The resulting measures will be included in Finance Bill 2014.

He also noted that the Government have announced that the Decommissioning Relief Deeds will be signed later in 2013. These will give North Sea companies a guarantee of the tax deductions for meeting their decommissioning obligations and freeing funds from decommissioning guarantees for investment, clearing one of the big obstacles for investment.

“New field allowances have been one of the success stories of the North Sea regime in the past few years. They have encouraged development of other oil and gas fields, including small oil fields and oil and gas fields in the West of Shetland area. We would expect that companies planning to enter the fledging shale gas industry should be similarly encouraged,” he said.

Extending the ring-fence expenditure supplement from six to ten years. This measure allows shale gas companies to inflation proof the tax losses incurred in the development costs of shale gas projects, by allowing them to increase the loss by 10% for up to 10 years. This is due to the long lead time to develop the industry.

from PwC press releases

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By Rob Starr, Content Manager, Big4.com     

Deloitte Survey   

Voice and data tariffs will need to be rationalised in 2013 to sustain the telecom industry, according to Deloitte Technology, Media and Telecom (TMT) Predictions 2013.

Mobility will be the most dynamic technology platform that would influence a multiplicity of segments of which the most notable ones would be education and payments. Payment methods would see changes with wider adoption of alternate currency under various use-cases.

Deloitte also predicts that this year will see more ideas being incorporated around UID that would accommodate structural changes in the model to make the concept a hub for addressing a range of governance issues. Deloitte expects a few large players to start taking baby steps towards forming the ecosystem around the G2C model. Primary among these would be remittance services that would bring banks, mobile operators, retailers and application service providers / aggregators / banking correspondents in one platform.

Deloitte’s TMT Predictions are a highly anticipated annual series of global insights that showcase the emerging TMT trends that will significantly impact businesses and consumers in the coming year and beyond.

Some of the most significant TMT trends that will impact India in 2013 are:

• Hawking their ware: Will technology find its next big market in India retail?
  There will be increased use of technology in the retail industry in India as online and offline retailers scale-up and address newer market segments.
• Cloud: The ascent continues
  While large enterprises would drive the volume consumption of cloud computing services, we shall continue to witness large scale adoption of cloud-based services by SMB. This segment would largely prefer the public cloud model and the current adoption would be driven by SaaS and hosted infrastructure.
• Television: Old school, but still rocking the show
  Deloitte predicts that television will continue to dominate as a media source and as an impactful medium for advertising. Content too will evolve as it focuses on localisation and targeted advertising to cater to regional tastes and needs.

from Deloitte press releases

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By Rob Starr, Content Manager, Big4.com

Deloitte report

The Social Value Act should drive change in local communities by encouraging business to more closely consider the social impact of their procurement decisions, according to Deloitte, the business advisory firm.

“We fully support the principles of the Social Value Act and have already seen the benefits this can bring within our own business. We have a long history of working with charities and social enterprises in the delivery of services, and have seen excellent results from encouraging new organisations delivering exceptional social value in our own supply chain,” said Heather Hancock, managing partner of Talent and Brand at Deloitte.

An expert panel, which consisted of Hazel Blears, Chris White, Deloitte, Veolia Environmental Services, Social Enterprise UK and Business in the Community, debated how the Act would be implemented and whether it could have an impact across the UK. Social enterprises, small businesses and charities spoke of their ambitions for the Act, their reservations about whether procurement functions had the understanding necessary to assess social value, and discussed the practical realities of entering a large company’s supply chain.

Also speaking at the event were the Rt Hon Hazel Blears MP and Chris White MP, who worked closely together in bringing the Social Value Act to fruition. Blears, an advocate for the move for several years, argues that the Act will create a level playing field for small businesses that will stimulate local economies and communities.

from Deloitte press releases

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(A book is the best way to build a consulting practice: ask about ghostwriting your book)

A software vendor’s typical go-to-market strategy is to deploy its direct  sales force for its biggest clients; then arrange with a few selected partners, some of which may be consulting firms or system integrators; and finally partner with VARs to sell whatever other market segments it can pick up. Making Profit Velocity’s approach different, however, is that it sells primarily through consultants and also works with private equity firms’ portfolio companies. This is where you, the consultant, can win.

“There are many business issues a manufacturing customer must consider when they use our product so we don’t want to sell directly to them. That’s why we rely on consultants,” says Michael Rothschild, founder and chairman of Profit Velocity, the provider of PV Accelerator, which enables manufacturers to identify and analyze how much profit per hour—what it calls the profit velocity—their machines yield as various products flow through them, effectively enabling manufacturers to maximize the return from their existing assets. You can find more on Profit Velocity from Ventana Research here.

This may seem simple if you have one product and one assembly line, although even then it is not. But when you have, as do many large manufacturers, dozens, hundreds, even thousands of products, multiple manufacturing facilities with multiple production lines, the challenge becomes mind-bogglingly complex.  And if you need to prioritize the production of orders flowing in for all these products in near real time in an effort to maximize profit you will be lost. Simply put, PV Accelerator gives manufacturers more visibility into asset return—not just per unit, but per hour and do it for every product, every customer and every production line at every facility.

The problem comes down to getting the right numbers fast enough to use them effectively. In today’s world, where businesses meticulously track so many metrics (quality, on-time delivery, order fill rates, cycle time, unit margins, plant utilization, and on and on), managers often say they are drowning in data.

Yet, as Rothschild explains, everyday information systems pump out reports crammed with column after column of metrics, but, with rare exceptions, not one of these reports includes a column labeled “Profit per Hour.”  That is the crucial missing metric that we call profit velocity.

The metric is missing because accounting systems were designed to measure unit margins, and until a few years ago, the raw data required to even accurately calculate profit velocity was neither captured nor stored in databases. Until the arrival of Rothschild’s product, PV Accelerator, no information platform existed that could weave the necessary raw data together to calculate and report on the missing metric.

When manufacturing managers finally see the missing metric demonstrated they have that moment when the proverbial light bulb suddenly explodes in their head. At that point they need help, more help than Rothschild’s company can provide. They need serious consulting help to implement this tool, which is delivered as a SaaS offering, and help with everything from prioritizing production to rethinking pricing to redesigning incentives for the sales force. This requires business savvy consultants who understand analytics and how to put insights into action. Might that be your firm?

Manufacturers look to consulting firms for ideas that generate bottom line results.  The consultant who can extract ERP, accounting, and manufacturing system data and deploy PV Accelerator to create a new view of profitability and returns that goes far beyond profit-per-unit can truly help its clients by guiding the use of this data to squeeze more profits out of existing assets.

Beyond consultants Profit Velocity also partners with private equity firms. It assists them in due diligence as well as with profit improvement strategies for portfolio companies in manufacturing. “PE firms know all about fast data analysis. For them we are a really quick bolt-on extension of the hard work they already do by adding profit velocity, the missing metric, to what they have,” says Rothschild. “Without the missing metric,” he adds, “all their information is just a big pile of data.” With the velocity metric, all this data suddenly makes sense.

Rothschild makes it clear that the company is seeking active consulting partners starting immediately. You can check out their partner page here.

In looking at the technology, PV Accelerator has a standard architecture except for its breakthrough analytics software. Oracle forms the backend database. The front end consists of Java, Javascript, and Ajax. PV Accelerator is accessed via a browser and also runs on the iPad.

From the standpoint of a manufacturer’s IT, PV Accelerator is just another VM running on the network. After a quick mapping exercise, it will start collecting a blend of historical and current data and begin analyzing it. Results show up fast. The manufacturing CIO welcomes PV Accelerator as a tool that leverages the IT investment in a way that has the potential to deliver a huge payback, adding points, not just fractions of a point, to return on assets.  Then imagine, for instance, a sales rep sitting in Starbucks with an iPad deciding which product he should offer right now to maximize both his commission and profit for the company. That’s information-based decision making on steroids.

The post Big Opportunity for Consultants that Understand Manufacturing Metrics appeared first on Big4.com.

If you’re a stay-at-home dad, you might have become more involved due to conscious
choice or because you’ve been at home while looking for employment. Either way,
it’s likely that you are becoming the CFO of your household. Instead of
providing your family with income earned from an outside job, you might be contributing
by learning ways to cut expenses and save money from home.

In addition to changing diapers, cleaning and cooking, you are likely finding ways
to bring in money by saving on the products you use to run the home. Coupon
clipping, whether from local newspapers and fliers or through Internet surfing,
is one way you can cut expenses. Joining a local coupon exchange club can help
you collaborate with other neighborhood parents while exchanging helpful
financial tips.

More websites are becoming available to men who are choosing to take over at home,
offering support and advice about issues like parenting styles, relationship
topics and money matters. The rise in stay-at-home dads shows no sign of
declining, and it can be helpful for men to be able to share their experiences
with other guys that are choosing to make taking care of their houses and
families their career.

If you are taking over at home only temporarily while you look for a job or go to
school, you may still choose to take over the accounting side of your family’s
life. Since you’ve likely experienced a decrease in income and possibly an
increase in expenses from textbooks or gas, your involvement is one way to
shoulder some extra responsibility and make your significant other’s life less
stressful while she is trying to make the money your family needs to survive.

Becoming a stay-at-home dad is a personal choice that must be made between two partners
for the betterment of the entire family. Running a household is no small chore
and is considered one of the hardest yet most rewarding jobs in the world.
Issues such as parenting, scheduling and household chores will be dealt with on
a daily basis and should be worked out based on individual needs and family
dynamics. However, financial concerns, such as accounting and budgets, are one
area where an expert’s advice can be invaluable. Setting aside some funds to
receive accurate knowledge on how to save money and take successful control of
a financial situation will help to create a smoother plan for men who want to
take over at home.

Nancy Anderson is the communities and article Editor for Beyond.com.
Nancy has 10 years experience in the online job search business with
Beyond.  Nancy’s team produces dozens of
articles every month for top internet sites.
Follow Nancy and the Beyond team on https://twitter.com/BeyondJobs.

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PricewaterhouseCoopers (PwC) is the world’s leading network of audit and assurance firms our clients include almost half of the Fortune 500. Our leading edge audit approach focused on quality is designed to meet the needs of private companies to large organizations. The PwC audit is underpinned by our deep industry knowledge, wide international experience and global network of skilled professionals.

Please see full job description here.

The post Featured Job: Assurance Manager appeared first on Big4.com.

If so, let me ask you some questions about it:

1. How effective is it at helping you to maintain and grow your client relationships?
2. Is it widely used by your organization?
3. Is it considered an important process for client development? Or a “check the boxes” exercise you do to satisfy someone in leadership?
4. Is it client-centric or product-centric? (e.g., does your account planning process start from the client’s agenda and work back towards your products and services, or does it start with your products and services and what you think you can sell to the client?)
5. Do you do joint account planning with your clients by collaboratively involving them in the process?
6. Is the emphasis on forms and templates or on deep, reflective strategizing about how you can grow the relationship?
7. Does the process draw in key stakeholders (e.g., account managment, subject matter experts,product experts, business development, delivery, functional support, etc.) from your organization?
8. Does it equally emphasize products and relationships? In other words, does it focus not just on client needs and possible solutions but also on the key executive relationships that need to be developed?

Unfortunately, in many organizations the account planning process tends to be budget-driven and product-centric. The goal becomes creating a plan to satisfy the process, not developing a tightly-knit team with a sense of purpose, motivation, and ownership of clear action steps that will lead to a breakthrough relationship.

What’s most important is the quality of your thinking and the follow up you commit to, as opposed to an extensive, written plan that—frankly—may just end up sitting in a file somewhere.

How’s your account planning process? What works? What needs to be improved?

****************************
Andrew Sobel helps companies and individuals build clients for life. Andrew was a Senior Vice President and Country Chief Executive for Gemini Consulting (15 years). He is the co-author of the newly-released Power Questions as well as the author of the business bestsellers Clients for Life, Making Rain, and All for One. He can be reached at www.andrewsobel.com, where you can download a free set of Power Tools to help you get better at asking Power Questions.

The post Eight Questions to Ask about Your Client Account Planning Process appeared first on Big4.com.

KPMG’s Advisory Services Practice focuses on fundamental business issues — managing risk, increasing revenues, controlling costs — that organizations, across various industries, should address in order to help them flourish. We help companies to identify and manage risks inherent in business processes and technology systems that support business objectives, and provide them with the information needed to help them meet their strategic and financial goals. Services are specialized to help clients mitigate risks across an overall risk spectrum. We are currently seeking a Manager/Director in Financial Risk Management (FRM)-Operations Risk for our KPMG Risk Consulting practice to join us in our Charlotte, Atlanta, Birmingham, Chicago or LA office. We also have opportunities available in other US cities.

Please see full job description here

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When you choose KPMG as the place to build your career in tax, you can really add value. KPMG’s tax partners and professionals pride themselves on understanding our clients’ business strategy and needs, providing a broad range of federal, state, local and international tax services to meet those needs. We are currently seeking a Manager/Senior Manager to join our State and Local Tax (SALT) practice in our Chicago office.

Please see the full job description here.

The post Featured Job: KPMG: Manager/Senior Manager, Indirect Tax appeared first on Big4.com.

By Eleni Pallas, Big4.com Guest Blogger

Our ancient Greek and ancient Indian forefathers had the wisdom to see people as people – accepting both our grandeur and shadow sides. They understood the need to develop the mind, body and spirit, orchestrating a harmony between all of our capacities to move us toward our highest potential.

When we introduced hierarchical structures into our societies through patriarchies, kingdoms and organizations, we transformed the human experience for the worse. We shifted from seeing people as people to seeing people as objects, with the goal of using discipline and ensuring compliance for the perceived individual or collective benefit. This view has been exacerbated by the Cartesian dualistic and mechanistic perspectives that ask us to believe only what we can see and learn about the Universe and ourselves through a logical analysis of parts. The Industrial Revolution and the more recent technological advancements have even further reinforced this way of comparing people with computers and robots. In the past, we modeled robots after people and now we are impressed when robots beat us in games of chess or Jeopardy!

What does it mean to see people as people? It basically means taking into consideration our emotions and our human potential. It’s integrating what’s possible with our incredibly imaginative selves with our emotional needs. This mind map can help you explore the topic:

When we take feelings and emotions into consideration, we humanize each other again and can therefore, tap into our most creative selves. As leaders, we need all the bright ideas we can get to deal with the complexity, diversity and uncertainty of today’s world. Just thinking that people are people, we will behave in ways that honor each person’s needs and points of view. When we respect each other’s emotional experiences, we feel heard, feel important and know that we are needed to contribute to the team’s goals. This approach creates a team culture through which people can thrive. Leading people’s higher selves can bring amazing results.

What does it mean to see people as objects? It basically means seeing people as efficient machines who can produce a lot of output and solve problems solely through logical means. This mind map can help you explore the topic:

Unfortunately, seeing people as objects has become today’s default approach. Most of us don’t even know that we’re doing this – that’s how imbedded it is in our collective habit. This perspective, however, reduces us to a machine-like existence that has little room for creativity (which is often blocked by unattended emotions) or thinking out of the box. It also keeps us in a state of constantly having to “prove” our productivity and worthiness at work, instead of using our energy to solve problems in a way that creates value for everyone. When leaders see people as objects, a focus is put on just paying someone a salary and replacing him/her if she can’t do what been expected. It’s the least effective way to get from point A to B and keeps us trapped in soulless organizations, doing soulless jobs.

If you want to transform your ability to influence people at home or at work, see people as people. Start by becoming aware of the paradigm you actually do use – how do you see people? Have you adopted the “see people as objects” approach or do you honor yourself and others with a holistic perspective?

Mastering the art of connecting with people at an emotional level elevates your leadership effectiveness beyond measure. And our organizations desperately need emotionally-mature leaders!

Eleni Pallas was a management consultant with Deloitte, now an Executive Coach working with global leaders and teams.

The post appeared first on Big4.com.

By Kalen Smith, Big4.com Blogger

Accenture announced strong quarterly earnings last week, but the company’s executives are concerned about the state of the economy. Accenture has forecast revenue of $6.5 to $6.8 billion for the second quarter. In addition, forecasters cut their earnings estimate for the fiscal year by 4 cents per share due to anticipated fluctuations in foreign exchange rates.

According to Swami Shanmugasundaram, an analyst with Morningstar, the wide range in revenue Accenture’s revenue estimates may indicate that the world economy is going to have a significant impact on Accenture. Generally, when a company has strong quarterly earnings, revenue estimates are usually estimated in a tight range. Accenture’s projections indicate that they are facing more uncertainty due to conditions in the world economy.

This forecast reflected a number of concerns in the global economy. The debt crisis in the Eurozone remains the biggest worry. However, the United States economy also remains stagnant.

Since Accenture first stated their concerns, the Commerce Department revised third quarter GDP to an annualized rate of 1.8%. In addition, many economists are concerned that much of the GDP growth has been due to temporary factors. This validates Accenture’s point that the economy may be sputtering.

Shanmugasundaram said that the economy is having a strong impact on companies in a number of ways. Companies are having to wait longer to receive payments for completed services and acquire new projects. As a result, they have longer sales cycles and earnings are more unpredictable.

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Each week Big4.com covers key news, events, happenings, opinions and blogs relating to all the Big Four accounting and consulting firms. You can view this video our website and on Big4.com’s channel on Youtube. So, let’s start with this week’s round-up of the top news!

PwC: China To Be The Most Favoured Destination For Companies Looking To Raise Capital And Float Their Businesses

Fifteen years from now, China is predicted by almost 80% of respondents to PwC’s “Capital Markets in 2025” report to be the most favored destination for companies looking to raise capital and float their businesses. The report confirmed the current attractiveness of London and New York as the leading financial centres for access to international capital, with 72% and 74% of those surveyed saying that they would consider those markets for an IPO on a foreign exchange. However, the numbers favoring the shift to the East is dependent on a number of critical factors like access.

Ernst &Young: Further Interest Rate Cuts Likely In Bleak Eurozone Mid Winter

According to Ernst & Young’s Eurozone Winter Forecast , a mild recession in the Eurozone in the first half of 2012 is now looking increasingly likely. The EEF welcomes the recent decisions by the European Central Bank to reverse its premature interest rate rises of earlier in 2011. Further, the report states that it is likely that further easing will be required accompanied by more measures to supply liquidity to banks. In addition, ongoing doubts about the ability of some countries to implement necessary reforms will mean that the ECB will need to keep buying government bonds.

KPMG: Anti-Bribery And Corruption Arrangements Need To Be Revisited

The Serious Fraud Office – the lead agency in England and Wales for investigating and prosecuting cases of overseas corruptions – is communicating with businesses in the UK. They are requesting that if a company or individuals are asked to make a facilitation payment in the course of doing business overseas, they report it. This disclosure is in conjunction with the Australian Government’s proposal considering whether to remove the facilitation payments defence in the Criminal Code. The proposal, if adopted, will mean Australia’s anti-bribery laws will be aligned more closely to the recently legislated UK Bribery Act 2010 which does not allow a defence for facilitation payments.

KPMG: Businesses In Emerging Markets Adopting Social Media

Businesses in the emerging markets are finding that social media offers a relatively low-cost way to effectively compete in developed markets. This according to Malcolm Alder, a Partner with KPMG in Australia’s Digital Economy practice. He was commenting on a recent report by KPMG International. Based on a survey of almost 4,000 managers and employees in major markets around the world, the KPMG International report, entitled Going Social: How businesses are making the most of social media found that Chinese, Indian and Brazilian respondents were almost 30 percent more likely than their counterparts in the UK, Australia, Germany or Canada to say that their organization utilized social media within their businesses.

Accenture: Consumer Electronics Industry May Face $17 Billion

Product Returns Bill Product return rates on consumer electronics products have increased by 21 percent since 2007, according to a new research report from Accenture, with the cost to U.S. consumer electronics retailers and manufacturers estimated at close to $17 billion this year. The research is based in part on a survey of executives from communications carriers, consumer electronics retailing and consumer electronics manufacturing companies, which revealed that product return rates over the past three to five years have increased for more than half of the retailers and nearly half of the manufacturers surveyed. Deloitte: Consumer Spending Index Drops In November Burdened primarily by the housing market with its high number of foreclosed homes and mortgage defaults, the

Deloitte Consumer Spending Index fell again in November.

The Index tracks consumer cash flow as an indicator of future consumer spending. Comprised of four components — tax burden, initial unemployment claims, real wages, and real home prices, the Index fell to 1.75 from 1.96 the previous month, its lowest level since April 2009. Highlights of the Index findings include the fact that real wage growth was stagnant this month and that was attributed to easing energy prices.

The post Check out the latest Big Four Video (Dec 2011-3) appeared first on Big4.com.

General insurers will face “greater scrutiny” as regulators crack down on the industry, according to a KPMG executive.

Mark Winlow, who is KPMG’s Head of General Insurance, believes that “2012 will see a return to underwriting disciplines for general insurers as their financial performance comes under greater scrutiny and they face increased regulatory interest,” according to a news release by the firm.

Calling 2011 a “solid year,” Winlow continues to suggest that next year will see investors “tightening the screws to make the most of shareholders’ capital,” meaning that insurers “must improve their core skill of underwriting.”

Believing that the Office of Fair Trading and UK’s financial regulator will scrutinize insurers more carefully, Winlow believes that general insurers will spend more time proving their competence in the next year.

Winlow also believes that analysts and rating agencies will “raise the bar in terms of insurer disclosure,” according to the news release. “More questions will be raised about the scale and sustainability of dividends as well as potential return of funds to shareholders. This, in turn, may create pressure for more mergers and acquisitions.”

Winlow observes that insurers had smaller reserves in 2011–a trend that will likely not continue in 2012.

Of particular concern to the UK market in 2012 will be its knowledge of foreign markets. Believing that “the UK will have a more marked importance than ever” in the insurance market, Winlow predicts that UK insurers will need to have a firmer grasp of the foreign markets they operate in. “Does the UK insurance market truly understand the overseas business it writes? Why underwrite in the UK or Europe? Why not concentrate on the growing markets of Asia Pacific or Latin America?” Winlow asks. Combined with this global outlook, UK insurers need to demonstrate “true underwriting excellence” if the industry wants to “continue to attract the capital it needs.”

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By Kalen Smith, Big4.com Blogger

According to a new study by Accenture, U.S. retailers are facing significant losses due to customers returning more electronics products this year. This study found that the number of returns has increased by 21% in the past four years.

Mitch Cline, the electronics and high-tech group’s managing director at Accenture, has stated that this is definitely a call for concern. The electronics industry has an average profit margin of 8.3% and has a significant level of competition. The industry really can’t afford any unexpected losses.

Cline says these return rates are not sustainable. He suggests that both electronics manufacturers and retailers do more to distinguish their products. Cline said that if retailers and manufacturers were to provide more descriptive explanations to customers about their products, then they would be able to make more informed decisions. In turn, this would lower the return rates of electronics products.

Accenture’s study found that 95% of the returns were not due to product defects. Almost 70% of the returns had nothing to do with the product at all, which may indicate retailers need to reevaluate their policy on returns.

The managing director of Accenture’s retail practices, Janet Hoffman, stated that it is necessary for retailers to update their technology and improve their business processes. Doing so would help ensure that retailers would improve customer satisfaction and develop strong, long-term sales.

The post Accenture Report finds Returned Products Harming Retailers appeared first on Big4.com.

By Kalen Smith, Big4.com Blogger

Investor interest in the in vitro diagnostics business is expected to surge over the next two years, according to PwC’s biennial review of the industry. Global demand for IVD services and partnerships is expected to grow as medical providers are placing more emphasis on the need for early detection. As a result, many M&A deals have been proposed in recent years. PwC expects the trend to continue through 2014.

Interest in the IVD market comes from many unconventional sources. Traditionally, the medical industry has been the primary market for IVD services. However, firms in other industries have begun to express an interest in IVD analytic services. Biological research groups and medical technology providers have expressed an interest in the data available through IVD technologies.

Financial investors are considering investing more heavily in companies providing IVD technology as well. Information available through in vitro diagnostics may be invaluable to insurance carriers as they conduct risk assessments on potential clients.

PwC highlights a number of trends and factors that are likely to have a significant impact on the emergence of the IVD industry. Although new entrants to the market will have a strong impact on the future of the industry, core customers are likely to have the largest possible impact. In addition, new government regulations are likely to have a profound impact on the future of the industry.

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By Kalen Smith, Big4.com Blogger

Earlier this week, Capgemini and Unilever announced they will work together on a major transformation program that will operate on a global scale. The two firms have signed a contract to work together on this program for three years.

Paul Nannetti, Capgemini’s global business information leader said Capgemini is excited to work with Unilever on this innovative program. The two companies should create a significant changes to utilize Unilever’s resources to its fullest potential. Nannetti said Unilever is already one of Capgemini’s largest customers.

Within that time, they intend to create an enterprise data warehouse. The data warehouse will provide detailed, real-time data for the program. This data will be invaluable for reaching and serving their customers, as well as better understanding their markets and improving decision making. Accessing the most current information will help Unilever make better informed decisions.

Although the program is set up under Unilever, Capgemini will utilize the resources of the data warehouses as well. Currently, the Capgemini employees working on the program are based in the UK. They will soon be relocated to locations around the world.

William Eelmam, Unilever chief information officer is highly optimistic about the future of the program. Eelman said the benefits of the program will not be limited to Unilever’s IT division, stating: “”It will transform the way our businesses around the world access and use information, bringing enhanced insight and consistency.”

The post Unilever and Capgemini Collaborate on Global Transformation Program appeared first on Big4.com.

Rob Starr, Big4.com Staff Reporter

After consulting on the reform of the UK’s controlled foreign company (CFC) rules for several years, the Government recently published the draft legislation on how companies’ off shore operations are taxed.

Colin Graham, UK insurance tax leader at PwC, commented on the implications of the draft legislation for the UK insurance sector. Noting the Government has confirmed that banks and insurance groups will benefit from inclusion in the new rules is good news, “putting them on a level playing field with non-financial groups,” he said.

“The news that the Government intends to continue to work with the insurance industry to develop a capitalisation condition for insurance groups should considerably reduce the compliance burden for insurance groups,” he added.

“Profits of foreign insurance subsidiaries will now only be subject to UK tax where they are derived from activities carried out in, or directed from, the UK or from excess capital provided from the UK,” he said, noting the new system will focus more on profits from a UK activity in determining the tax base.

Calling the legislation “a game changer”, Graham said it could help the UK become a more attractive destination for banks and insurance groups looking to establish new headquarter-based operations.

Acknowleding the complexity of the draft legislation, Graham cautions a wait and see approach as to whether improvements to the existing CFC rules will reduce the compliance burden for insurance groups and other UK businesses.

PwC firms provide industry-focused assurance, tax and advisory services to enhance value for their clients. More than 161,000 people in 154 countries in firms across the PwC network share their thinking, experience and solutions to develop fresh perspectives and practical advice. See pwc.com for more information.

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Rob Starr, Big4.com Staff Reporter

A new report from PwC indicates the total investment in global cyber security deals has exceeded $22 billion since 2008, an average of over $6 billion annually.

According to the report, PwC Cyber Security M&A: Decoding deals in the global cyber security industry, global cyber security spending is expected to reach $60 billion in 2011, and estimated to grow 10 percent annually over the next three to five years.

Barry Jaber, PwC’s UK-based Security Industry Leader, commented:

“Growing threats and awareness, and changes in technology such as mobile devices and cloud computing are key drivers of spending growth in the cyber security market. This will underpin future deal activity.”

Some key drivers underpinning growth in cyber security spending outlined in the report include increased cyber threats; greater vulnerabilities due to the more pervasive use of technology, particularly mobile devices and cloud computing; and increased awareness by organisations and consumers of real and potential threats.

In total, 37 deals accounted for over $10 billion in deal value in the first six months of 2011, a 70% increase compared to full year 2010. The top 10 deals over the last three years highlighted in the report feature only companies from the UK and the U.S., with the latter accounting for more than half of all deals globally.

In most regions, the private sector accounts for the majority of cyber security spending, with the exception of the U.S. where Government spending is almost equal to the private sector. The strong technology industry, combined with the fact that the defence and intelligence budgets in the United States are significantly larger than in any other country, are significant market drivers.

By comparison, Europe accounted for approximately a quarter of deal value and a third of deal volume over the same period. The report estimates that this year alone, cyber security spending in the UK is expected to reach nearly £3 billion.

The post PwC: Growing Threats Spark Rise In Global Cyber Security Market appeared first on Big4.com.

The California Department of Consumer Affairs has recently awarded a contract to Accenture. Over the next 9 years, the Department of Consumer Affairs will commission Accenture to create BreEZe, a licensing and enforcement system. Implementing BreEZe is expected to improve the efficiency of the day-to-day functioning.

The main objective of the new system is to protect and serve customers. The department serves businesses in 100 different professions. The agency also mentions that nearly 40 of those professions are required to adhere to standards set forth by regulatory agencies. These policies include licencor requirements. Therefore, these customers will substantially benefit from BreEZe.

The current licensing system is outdated and unnecessarily complex. The agency feels that the new system will help customers manage their data more easily. In addition, customers will be able to take advantage of the better online support system.

The Department’s BreEZe project manager, Brandon Rutschmann, said that the project should substantially increase their functionality. Rutschmann said the department’s website is very limited and customers can’t take advantage of it for most of their services. Accenture’s work on the BreEZe project should make things much more manageable for customers.

Accenture will be working closely with Apian Consulting, Iron Data Solutions and Cambria Solutions as it implements the BreEZe project.

The post Accenture Wins 9 Year Contract With the State of California appeared first on Big4.com.

By Kalen Smith, Big4.com Blogger

A recent report from Hitachi and Deloitte found that the economies of Australia and New Zealand must contend with an information glutis. The overload of information has caused a number of headaches for regulators and could potentially damage the reputation of different companies involved. In addition, the information glut costs Australia $3 billion a year.

Hitachi commissioned Deloitte to investigate the role that an overabundance of information plays in limiting business productivity. Hitachi also had Deloitte evaluate the benefits solutions to the information glut would have on the economy as a whole.

Dr Ric Simes, director, Deloitte Access Economics said the information glut was likely to lead to an even greater problem if companies didn’t take proper steps to organize their data. Simes said organizations are prioritizing the accumulation of data. However, without a structure in place to assimilate the data in a coherent way, the outputs become useless. Inevitably, this undermines the relationship between the service providers and their customers.

Simes reminds companies that data is intended to solve problems and improve efficiency. However, that data can be counterproductive when it reaches the point where it can no longer be managed effectively. The advance of new technologies such as social media has worsened the informational glut.

Australian businesses anticipate slowing their expansion into new IT technologies. Approximately 90% of businesses report that the amount of data they have has increased substantially. However, the number of businesses with the capacity to invest in new IT technologies has dropped by as much as 50%.

The post Deloitte Report Shows Information Glut Costs Australian Economy $3 Billion Each Year appeared first on Big4.com.

By Kalen Smith, Big4.com Blogger

KPMG released its 2011 R&D Survey earlier today. The survey incorporated the feedback of 100 experts on R&D initiatives in Ireland. According to the survey, enhancing the research and development tax regime would encourage businesses in Ireland to create more jobs. Approximately 45% of businesses would be more willing to hire more people if the tax credit was increased by at least 25%.

The benefits of a tax credit would have far-reaching impacts to businesses. Over a quarter (26%) of businesses stated that they would invest in new capital if the tax credit was increased. The same number of respondents said the the tax credit would be a very helpful way of bringing more business to Ireland.

Ken Hardy, one of KPMG’s tax partners, said raising the tax credits could substantially improve Ireland’s struggling economy.

However, Hardy points out that only 18% of businesses in the study participated in the tax credit program. The reason more businesses aren’t participating is unknown. Hardy speculates that many businesses don’t know about the tax credits or what research qualifies. Many businesses are developing new research and may qualify for the tax credit. KPGM’s study shows that Ireland may need to be more clear with businesses on what the tax credits can be used for.

Enhancing the tax credits and encouraging businesses to participate may be necessary to achieve the robust growth Ireland needs to improve the economy and return unemployment to the levels we experienced before the recession.

The post KPMG: Increasing R&D Tax Credit Will Create Jobs in Ireland appeared first on Big4.com.

By Kalen Smith, Big4.com Blogger

Fitch has affirmed an A+ rating for Accenture’s long-term debt and Senior unsecured bank credit facility. Fitch’s current outlook for Accenture’s rating is stable. The credit outlook takes a number of factors into account.

Accenture has maintained a strong balance sheet without taking on a substantial amount of debt. Fitch took into account that Accenture had $1.2 billion of debt, which included an untapped credit facility.

Accenture also has maintained a strong free flow, which currently stands at more than $2 billion. Cash flow has also been consistent, which is an impressive accomplishment for the cyclical consulting and services integration business. Cloud computing could potentially create new competitors. Fitch was also impressed with Accenture’s revenue stability. Accenture has been able to maintain significant, long-term relationships with their clients.

Accenture has maintained a solid reputation for providing quality services. This reputation has helped the firm acquire many new contracts, which have contributed to the auditor’s strong cash flow and revenue stability.

Fitch did enumerate a few concerns, which prevented them from offering Fitch a rating which would indicate a very high capacity to repay debt. These include intense competition from other IT service providers. Also, Fitch questioned the long-term viability of Accenture’s software applications.

Fitch believes free cash flow will remain stable and will not be required to add substantial debt to their balance sheet. A 2001 restructuring of the company has improved efficiency and improved standing cash flow.

The post Fitch Gives Accenture A+ Rating With Stable Outlook appeared first on Big4.com.

By Kalen Smith, Big4.com Blogger

KPGM allegedly leaked a report on the future of the renewable energy industry in the UK. According to sources, this report compels the UK government to overhaul its renewable energy program.

KPMG released its version of the report after similar reports were published in Panorama and The Sunday Times. Each of these reports made several suggestions on how the UK government could better meet its carbon reduction target for the 2020. These suggestions included building nuclear and gas-fired power stations instead of creating wind farms. These suggestions have been met with criticism from a number of renewable energy groups. BBC continues to stand by its report, despite the criticisms from renewable energy groups.

RenewableUK is one of the most outspoken critics of the reports issued by KPMG, Panorama and The Sunday Times. The trade association for renewable energy pointed out that KPGM focused purely on the capital costs of creating the infrastructure. RenewableUK and other renewable energy groups are staunch advocates for creating long-term savings and protecting the environment. They argue that KPMG’s report failed to consider the long-term costs of managing these facilities.

KPMG has not issued a time frame for its report, despite allegations to the contrary. The auditor insists the report has not been finalized at this time.

The post KPGM Report on Renewable Energy Causes Controversy appeared first on Big4.com.

Rob Starr, Big4.com Staff Reporter

Findings from a new PwC study measuring the experiences of over 6,000 U.S. consumers across 11 industries indicates product knowledge and recommendations accounted for almost one third of positive shopping experience related to support, while only one percent of shoppers cited rewards programs alone as influencing their purchase decisions.

The study from PwC US, titled Experience Radar 2011: Retail Insights, based on PwC’s Experience Radar methodology, is aimed at helping retailers identify what’s most important to consumers, and then develop an action plan to deliver a great customer experience. This experience-focused approach can help attract new customers, keep existing customers and increase margins.

“Customers, like all of us, are social beings, seeking connection and community,” said Lisa Feigen Dugal, PwC’s U.S. retail & consumer practice advisory leader. “When retailers move beyond solely relying on points and develop experiences based on what’s most important to consumers, you not only drive loyalty, but you create ultimate brand ambassadors who spread the word on their positive experiences,” she added.

According to the PwC study, five key ‘experience enhancers’ retailers should strive to achieve include:

• Use front-line staff to create positive shopping experiences to connect psychologically with consumers. Investing in knowledgeable staff and leveraging front-line employees can help retailers enhance service.
• Consumers who experience a positive shopping experience can make the best brand ambassadors for retailers.
• Attract new customers by helping them avoid risk. Overcome shoppers’ worries about losing money on shipping, and reduce consumer purchase anxiety with flexible return policies.
• Develop a multi-channel strategy that makes it easy for consumers to shop online, offline, at home or in stores.
• Provide customers with feedback channels to fix a problem when it occurs and make sure the customer is happy with the results.

Commenting on the study’s findings, Susan McPartlin, PwC’s U.S. retail & consumer industry leader, said focusing on the customer experience in the current economy is an effective way for retailers to set themselves apart.

The post PwC: Retailers Should Focus On Customer Experience To Drive Growth appeared first on Big4.com.

Rob Starr, Big4.com Staff Reporter

Recent analysis by PwC shows while there has been a positive increase in the number of airlines producing corporate sustainability (CS) reports, there is still much room for improvement.

Jeroen Kruijd, one of the report’s authors and PwC airline sustainability expert comments:

“There is an opportunity, and a need, for airlines to work on CS reporting. We expect the industry to begin work on harmonising standards and the challenge for them now is to demonstrate how they are tackling all relevant issues such as diversity, waste and customer satisfaction. If they can do this, it will lead to a more successful business.”

Only a handful of airlines currently integrate their CS data into their overall annual report, and currently most CS reporting is voluntary. Companies that are concerned about the cost of producing such reports should start thinking now about the value-add it will give them in the long run. The report indicates those that do take it seriously, could get the edge in a very competitive market.

While 30 of the 46 sampled airlines produce a sustainability report, 62 of the top 100 airlines worldwide did not. Of the 30 analysed by PwC, some of the best included Air France KLM, Iberia, Delta Air Lines, LAN Airlines, Lufthansa, Southwest Airlines and UPS.

Here are some of the highlights:

· 70% came clean about their CO2 emissions

· 33% did not include any measures of fuel efficiency

· 60% failed to report on waste production and water consumption

· 10% gave data about lost baggage and around 25% reported on customer complaints

· 77% are keen to report on community activities.

PwC firms provide industry-focused assurance, tax and advisory services to enhance value for their clients. More than 161,000 people in 154 countries in firms across the PwC network share their thinking, experience and solutions to develop fresh perspectives and practical advice. See pwc.com for more information.

The post PwC: Airlines Must Build Trust appeared first on Big4.com.

By Kalen Smith, Big4.com Blogger

Earlier this week, Deloitte and the Harrison Group released the results of their 2011 American Pantry Survey. The annual survey polled 4,086 American households and found customers are becoming more savvy and developing a more systematic approach to finding discounts.

Approximately 30% of respondents claimed about 70% of the items they purchased are discounted. Also, four out of five of those shoppers research their products thoroughly before making a purchase. In order to maximize their savings, they identify an ideal price and savings goal before purchase. In their efforts to maximize savings, 66% of customers will wait until their products will be on sale before purchasing them.

Pat Conroy, vice chairman of Deloitte said shoppers expect to get a good deal when they make a purchase.  Conroy mentioned that 80% of customers are spending less time in stores, which gives retailers less time to sell their products. Therefore, companies should take all necessary steps to improve brand loyalty, which will require them to connect with customers before they make purchase decisions.

According to the survey, 75% of customers feel they are smarter shoppers than they were in 2010. Companies will clearly need to find different strategies to connect with their customers and improve their brands as they are becoming savvy shoppers.

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By Kalen Smith, Big4.com Blogger

A new study by Accenture found that 55% of American workers feel they must develop new skills to perform their jobs to their employer’s satisfaction. However, despite their commitment to adding new value to their employers, many companies aren’t helping them develop those skills.

Workers feel it is their own responsibility to develop new skills. Accenture’s study polled 1,088 workers and found that 68% believe they must take the initiative of developing those skills on their own. David Smith, managing director for Accenture Talent & Organization, argued that companies need to do a lot more.

Workers are particularly concerned with developing a better understanding of technology. However, problem-solving and managerial skills are not being as readily addressed. Only 31% of respondents felt their company did anything to help them develop their problem-solving skills.

Accenture’s study concluded that employers were not developing an inventory of their employees’ skill sets. Although slightly more than 50% of employers documented the skill sets of their employees, they did not thoroughly investigate skill gaps. Over a third of respondents said their employers only evaluated their education and work experience. The study argued that employers need to take a broader perspective as they evaluate skill gaps in their employees.

This study was released within a year of a study by Deloitte, which found that global skill shortages are a key factor in limiting corporate growth.

The post Accenture: Over Half of American Workers Want to Develop New Skills appeared first on Big4.com.

Kenneth Guillame, Big4.com Staff Reporter

A new magazine developed by KPMG’s senior tax professionals entitled Future Focus: Tax and Transformation in Asia Pacific’s New Business Reality, identifies how Asia Pacific companies need to cope with diverse transfer pricing regimes at varying stages of development, from the mature markets of Japan and Australia, to the less developed regimes of South East Asian countries like Malaysia, Indonesia and Vietnam.

“From transfer pricing audits, to short-term business travelers, to challenges of offshore holding structures, tax authorities are looking at taxpayers’ cross-border activities to shore-up their government’s finances and prevent revenue leakage,” says Warrick Cleine KPMG’s Head of Tax for Asia Pacific. “Businesses in the region are increasingly challenged to keep pace with the speed and complexity of change.”

The challenges outlined in the new publication were the focus at the recent 2011 KPMG Asia Pacific Summit in Sydney, Australia, which explored how companies doing business in the Asia Pacific region need to examine their tax functions and make transformation and innovation their highest priorities to cope with the increased complexities and rapid development in the area.

According to KPMG tax professionals, the Asia Pacific region is already seeing higher levels of scrutiny over transfer prices with signs that this trend will accelerate.

Future Focus discusses how businesses in the region need to plan for indirect tax changes and notes how Oceania’s average VAT/GST rate rose from 12 percent in 2010 to 12.5 percent in 2011 and the average rate in Asia rose from 11.64 percent in 2010 to 11.93 percent in 2011.

The magazine also highlights the importance of planning and preparedness to manage tax risk management with reference to Japan’s earthquake in March 2011 and its aftermath illustrating the importance of having a strong system in place for tracking and planning employee travel.

Mr. Klein concludes that as companies in the Asia Pacific region grow and expand into new markets, their tax teams will need to find ways to cope with complex global issues while adding value to their organisations.

The post KPMG: New Magazine Examines Tax Risk Management In Asia Pacific appeared first on Big4.com.

By Kalen Smith, Big4.com Blogger

Accenture has provided world-class IT solutions to corporate clients all over the world since 1989. However, maintaining their own IT environment is always a challenge. Earlier this week, Accenture’s CIO, Frank Modruson told journalists from CIO Insight what his plans were for the future of Accenture’s technology division.

Modruson stated that business needs of the IT industry are becoming increasingly complex. Accenture has made updating its IT environment a priority since 2001. Although they have always used state-of-the-art technology, they did not work on making their systems cost-effective until 2005.

Although Accenture is constantly working to keep its IT environment up to date, the firm finds doing so is often difficult. As the industry changes significantly, the firm is constantly working on implementing IT solutions that will be up to date as possible. Recent trends in social media and mobile technology have created new challenges and forced Accenture to reevaluate the IT infrastructure it has in place. Modruson said that Accenture needs to consider the benefits of bringing mobile technology into the workplace, but has taken precautions to make sure the system is as secure as possible.

Modruson said that they are changing their structure and making sure all employees have access to a mobile device. Although many employees have started bringing mobile devices to work, Accenture has also provided about 40,000 mobile devices to its employees.

Additionally, Accenture is working on more sophisticated ways to bring social media into the workplace. The firm has actually developed its own internal Facebook application to make communication more engaging and effective for Accenture employees.

Accenture has set the standards for delivering exception IT services for over 20 years. As the firm continues to implement new IT solutions for their clients, they recognize the need to keep their own systems up-to-date. Modruson said they will continue to make these updates a priority.

The post Accenture CIO: Updating Our Infrastructure Remains a Priority appeared first on Big4.com.

Proctor and Gamble has recognized Ernst & Young for providing the highest level of customer service. Ernst & Young was one of 11 other recipients to receive the award.

Mark Beischel is Ernst & Young’s Global Client Services Partner for P&G. Beischel is proud Ernst & Young was given the award, especially since 75,000 businesses were considered. Beischel told reporters “I’m extremely proud that we were chosen for this top award after a very rigorous selection process. We won on truly global service excellence and this award affirms our core belief that high quality service is what matters most to the client.”

As P&G’s Vice President of Purchases, Camille Chammas said P&G was very impressed with the level of service Ernst & Young has provided P&G. Chammas said Ernst & Young has always been dedicated to providing the highest levels of service. Ernst & Young has utilized their industry experience and provided results on both a local and global scale.

Bob McDonald, President and CEO of P&G said that P&G holds all recipients of these awards in high regard. P&G has a very close connection with its partners all over the world. P&G is proud to collaborate with the best service providers to deliver a common purpose: touching the everyday lives of citizens and businesses all over the world.

The post Ernst & Young Recognized For Providing Highest Level of Customer Service appeared first on Big4.com.

Ethan Strassfield, Big4.com Staff Reporter

Deloitte plans to help guide clients through the process of becoming a cloud service provider or subscriber by expanding its cloud computing consulting services.

Deloitte CloudPrint (CloudPrint), a proprietary delivery framework is based on the firm’s experience in executing Cloud strategy and implementation efforts.

Commenting on the new offering, Paul Clemmons, Principal, Deloitte Consulting LLP said:

“CloudPrint is an expansion of Deloitte’s cloud practice, enhancing our overall cloud computing solutions and offerings for Cloud service providers and Cloud service subscribers.”

The CloudPrint framework is built around three distinct offerings:

• CloudPrint for Providers: a range of services including channel strategies, market analysis, and maturity and operating models, covering business and process transformations required to become an internal or external cloud computing service provider.
• CloudPrint for Subscribers: a range of offerings including Information as a Service, Software as a Service, and Platform as a Service, covering business, organizational and process transformations required to become a subscriber to cloud computing services.
• CloudPrint for Sectors: specific sector editions containing industry insights into challenges facing clients. Subscriber editions focus on Banking, Consumer Products, Health Plan, Insurance, Life Sciences and Media; and Provider editions focus on Technology and Telecom.

The post Deloitte: Cloud Computing Services Expand With CloudPrint appeared first on Big4.com.

Administrators in four countries have been chosen to oversee the liquidation of MF Global, after the securities firm announced its bankruptcy and their trading activities were put to an end.

MF Global Australia Ltd. will be liquidated under the administration of Deloitte Touch Tohmatsu, which aims to “resolve what are complex operations in the interests of the companies’ clients and creditors,” as the firm announced in a statement. “The total process will take some time.”

MF Global Singapore and MF Global UK will be administered by KPMG, which has been named the provisional administrator to oversee the company’s liquidation. The announcement in Singapore was made by the Monetary Authority of Singapore, while the Financial Services Authority of the UK made a similar statement.

While bankruptcy documents did not reveal that Deloitte held any interest in MF Global, it was revealed that KPMG Dallas had $10,000 invested in the firm. PwC was the largest Big4 to invest in MF Global, with exposure of $312,598.

Meanwhile, a U.S. district court judge in Manhattan appointed James Giddens a trustee of MF Global US. In this new position, Giddens will oversee the liquidation of the firm’s assets. His firm, Hughes, Hubbard and Reed, will serve as counsel.

For the past three years, Giddens has also served as trustee for Lehman Brothers, the largest U.S. firm in history to go bankrupt.

The post MF Global’s Administrators: Deloitte in Australia, KPMG in Singapore and the UK appeared first on Big4.com.

Big4 Video News October 2011-3

This week Big4 brings you news of Global Ernst & Young Organization Cited As Market Leader; Recent Deloitte Survey Shows Optimism Fell Precipitously This Quarter; .Big4.com Reports On Capgemini’s Latest Agreement With Levi Strauss & Co.; Ernst & Young Reports Companies Expect M&A Activity To Continue; KPMG Survey Shows IT Execs Expect Increased Spending On Cloud Technology; and the Latest PwC Financial Services M&A in Asia Survey 2011. Each week Big 4 covers key news, events, happenings, opinions and blogs relating to all the Big Four accounting and consulting firms. You can view this video our website and on Big4′s channel on Youtube.

1. Global Ernst & Young Organization Cited As Market Leader

Ernst & Young announced this week that Global Ernst & Young Organization was cited as a market leader in the Kennedy Consulting Research & Advisory’s Finance Management Consulting Marketplace 2011-2014 report. Big4.com will be talking with Tom Cucuzza, Finance Competency Leader for Ernst & Young about how Ernst & Young helps its client achieve efficiency and effectiveness in their Finance and Accounting functions. The Kennedy report highlights a number of Ernst & Young key strengths and particularly recognizes its Finance Performance Improvement consulting and the global organization’s Centers of Excellence.

2. Recent Deloitte Survey Shows Optimism Fell Precipitously This Quarter

For the first time in the history of the Deloitte CFO Signals survey finance chiefs who are more pessimistic about their own company’s prospects outnumber optimists in the third quarter of 2011. The quarterly Deloitte survey, which tracks the thinking and actions of chief financial officers representing many of North America’s largest and most influential companies, shows that optimism fell this quarter with only 29 percent of CFOs reporting a more positive outlook. Later this week, Big4.com will have an opportunity to discuss these findings with Greg Dickinson, Deloitte’s CFO.

3. Big4.com Reports On Capgemini’s Latest Agreement With Levi Strauss & Co.

Last week Big4.com reported on Capgemini’s agreement with Levi Strauss & Co. The new agreement builds on Capgemini’s previous applications work with Levi Strauss which began in 2008. Tammy Amirault, Vice President Application Services, Levi Strauss, said it became clear a few years ago that Levi Strauss needed a solution that would give the firm a holistic view of data across regions, while allowing them to accurately analyze it. “Very few systems integrators have the ability to support the development of such an intricate retail solution,” said Lanny S. Cohen, Chief Executive Officer, Capgemini.

4. Ernst & Young Reports Companies Expect M&A Activity To Continue

M&A expectations in the US are down with 36 percent of US companies expecting to make an acquisition in the next 12 months. Based on a survey of more than 1,000 senior executives worldwide, the report revealed top international companies expect to make an acquisition in the next 12 months. Rich Jeanneret, Americas Vice-Chair at Ernst & Young said: “In the US we expect to see a continued appetite for transaction activity in the next year, with over a third of companies planning an acquisition and 41% of companies focusing on growth.”

5. KPMG Survey Shows IT Execs Expect Increased Spending On Cloud Technology

A recent KPMG survey of global corporate IT executives, whose companies would use a Cloud strategy, agree that spending on the Cloud will rise significantly next year, with 17 percent indicating Cloud spending would exceed 20 percent of the total IT budget in 2012. The majority of senior executives participating in the KPMG global survey said they were either evaluating Cloud, planned a Cloud implementation, or had already adopted a Cloud strategy and time line for their companies. Some said their organization already runs all core IT services on the Cloud.

6. M&A On the Rise In Asia’s Financial Services Sector

The latest PwC Financial Services M&A in Asia Survey 2011, indicates that over fifty percent of senior executives in financial services across 13 Asian territories indicate they are considering or are very likely to undertake material M&A in the next year. The busiest M&A activity is expected to come from the fast growing markets in China, India, Indonesia and Vietnam. The most attractive M&A market in the region, especially among respondents from the capital markets and wealth management industries, is China, followed by Singapore, Hong Kong, Malaysia, Thailand and Japan.

The post Check out the latest Big4 video here! appeared first on Big4.com.

Rob Starr, Big4.com Staff Reporter

Canadian private companies are aiming for growth and expansion by investing in mobile computing and social media, according to findings from a PwC survey. The seventh annual Business Insights Survey examines issues affecting over 300 leaders of Canadian private companies from a broad range of industries.

This year’s survey revealed the top five areas of technology investment over the next one to three years are: mobile computing (43%); social media/networking (42%); next-generation data management & analytics (34%); information security (33%); and cloud computing (21%).

Despite a slow economy, Tahir Ayub, Canadian leader of PwC’s Private Company Services practice, said companies realize they must invest in leading-edge technology to advance business. “Having come out of the other side of the recession stronger, private companies realized they had to keep improving in order to keep thriving in this new unstable environment,” he added.

The study shows the top objectives for investing in technology over the next year include making business processes more efficient/effective, attracting new customers, driving growth and competitiveness, and reducing costs.

Aayaz Pira, vice president, technology consulting, PwC, comments:

“Mobile computing is the new standard for business and those private companies that haven’t adopted the technology risk missing out on having a fully-productive, efficient workforce and the ability to attract and retain new talent coming into the workforce.”

Describing people who have grown up with mobile technology as “digital natives”, Pira says they expect to be able to access and use technology at work. Companies need to   attract and motivate workers to deliver on core business objectives by providing new technology that allows workers to be effective.

Philip Grosch, national leader, technology consulting, PwC said “The piece of mobile computing that hasn’t evolved as much, but is now evolving very quickly, is how to drive efficiency within your enterprise using social media.” He said forward thinking companies are looking at ways to use mobile technology to improve service to their customers.

The post PwC: Canadian Companies Plan Growth Through Leading Edge Technology appeared first on Big4.com.

A total of 28 new staff have been recruited to a three-year training program at the Jersey and Guernsey offices of PwC Channel Islands.

The recruits will obtain accounting qualifications at the end of their training in the accounting firm’s offices. The new staff are a mix of locals as well as graduates from Australia, the UK, and the United States. Seventeen of the new hires will be based in Jersey, and eleven in Guernsey.

The new hires were selected after completing a Graduate Recruitment Induction Program specific to PwC’s Channel Islands operations, which is designed to introduce potential employees to the firm, its IT systems, and to consulting and accounting. Now the 28 recruits will begin working on external qualifications.

The firm stated that its recruitment strategy emphasized cultural and academic diversity in general, but did not comment on its selection of these new hires.

Steve Le Page, a senior partner at PwC Channel Islands, said that the Channel Islands economy is strong enough to warrant increasing the offices headcount. “PwC in the Channel Islands is confident about the strength of the local economy and is continuing to invest in talent in order to be able to meet the future demands of clients,” he said, stressing that the new hires’ “collective skills and knowledge will enhance our performance as a business.”

Jersey and Guernsey are dependencies of the United Kingdom that exist outside of the European Union and are known for their relatively low or non-existent corporate and banking taxes.

The post PwC Channel Islands Hires 28 Trainees appeared first on Big4.com.

The Telegraph, a British broadsheet, reported on Friday that PwC has earned £403 million or $637 million in Lehman Brothers-related administration, which is still incomplete and set to take over ten years to finish.

This figure does not include fees for paying former Lehman Brothers staff and contractors who are helping PwC with the investigation. A total of 495 staff from the former investment bank and additional contractors are helping the Big4 firm.

Commenting on the audit, PwC partner Tony Lomas said that payments from the Lehman Brothers estate may be distributed to the defunct bank’s creditors sometime next year. This would be the first time any investor in the bank has seen any payment from the bank since its collapse in 2008.

The auditing firm intends to request an extension for its investigation next month for a further five years to continue to examine claims made against the bank. “In the coming months, a number of important legal appeals will be heard in the UK courts,” Mr. Lomas said.

So far, £12.6 billion of assets have been raised from selling the bank’s assets. Estimates of outstanding unsecured creditor claims range from £16.2 to £52.5 billion, with many claims still unexaminied. PwC has already warned that the bank may need other reserves to meet any new claims.

The post PwC Earns Over £400 Million from Lehman Brothers-Related Administration appeared first on Big4.com.

Rob Starr, Big4.com Staff Reporter

Employability is the theme for a nationwide charity and volunteering event sponsored by PwC offices across the UK.

The nationwide community day sponsored by PwC will raise money for local charities and share vital employability skills. PwC teams will work with different groups around the country, ranging from social entrepreneurs to ex-servicemen to those at risk of homelessness, offering support such as mentoring, CV writing and skills sharing. Young people will also receive support to build up their skills to advance into further education or a career.

PwC Chairman Ian Powell said:

“Our efforts to help our communities go beyond a day of concentrated support, but we hope that by running an event focused on one day we can highlight what a difference sharing some of the skills we use in our everyday work can make to someone’s future prospects and confidence.”

Fundraising and volunteering efforts which began in late September culminate with the countrywide volunteering day on 5 October. The event aims to make a long-lasting impact in the firm’s local communities by sharing skills and fundraising to help people not only find gainful employment, but sustain their employment and skills into the future.

PwC firms provide industry-focused assurance, tax and advisory services to enhance value for their clients. More than 161,000 people in 154 countries in firms across the PwC network share their thinking, experience and solutions to develop fresh perspectives and practical advice. See pwc.com for more information.

The post PwC: Nationwide Community Day Shares Skills With Job Seekers appeared first on Big4.com.

Telecommunications and media specialist, David Blackwell, has been appointed a partner to Deloitte‘s data analytics team. In his new role, Mr. Blackwell will focus on data and analytics projects for the firm’s technology, media and telecommunications, and energy and resources clients.

Tom Scampion, head of data analytics at Deloitte, commented: “By using data analytics, companies can unlock the value in the information that they hold in their business. It is an area where we see significant potential, and having people like David on board will allow us to expand and enhance our client service offering.”

Blackwell explained businesses operating in the telecommunications sector can gain a competitive edge from data available to them. In addition to using data to gain a better understanding of business operations, Blackwell said, “it is now entirely possible to exploit data to be predictive about customer or even network behaviour.”

Commenting on his new position with the firm, he added: “This presents an incredibly exciting opportunity, and I look forward to working with clients to help them maximise the potential of their data.”

David Blackwell joins Deloitte from Detica, the business and technology consulting firm, where he advised clients in the telecommunications and broadcast industries, and also supervised Detica’s cyber security initiative. Prior to his work with Detica, Blackwell worked as a strategy consultant for Accenture in their communications and hi-tech practice.

The post Deloitte: Analytics Team Grows With Addition Of New Partner appeared first on Big4.com.

A Discussion Paper was recently released by the International Integrated Reporting Committee (IIRC) suggesting changes to the way companies report on financial and sustainability results. Corporate reporting experts have been calling for a reassessment of the reporting system, and PwC believes the discussion paper is an important contribution towards improved financial reporting.

The IIRC discussion paper corresponds to the PwC report, “Tomorrow’s Corporate reporting – a critical system at risk.” The report published in May of this year includes a “road map” for change and assesses the behavioural and structural challenges involved in changing the reporting system.

Ian Powell, UK chairman and senior partner, PwC, said as companies struggle with an uncertain economy and falling confidence in business opportunities, the relevance and value of reporting and audit need to be considered with a focus on future demands of the capital markets.

While financial statements remain a fundamental aspect of reporting, the IIRC proposes some changes to the traditional reporting framework. The new plan recognises resource usage and the associated business risks and opportunities must be considered across the value chain and not limited to accounting control. The recent environmental P&L account created by Puma is an example of companies breaking the traditional reporting model for competitive advantage.

Commenting on the IIRC’s discussion paper and its framework, David Phillips, head of corporate reporting, PwC, said: ”Given corporate reporting’s central role in our economic system we cannot afford to spurn this opportunity. The risks of inaction to the long-term prosperity of the whole world are too great.”

PwC emphasizes the opportunity presented by the IIRC’s discussion paper to develop a better reporting model to explain an organisation’s key relationships and use of different resources, beyond the standard financial statement. The project has also received the support of HRH the Prince of Wales through his Accounting for Sustainability Project (A4S).

The post PwC: Revised Reporting System Gains Support appeared first on Big4.com.

Large global manufacturers plan to focus on top-line growth as a priority in the next two years according to a new survey by KPMG, targeting new products, strategic acquisitions and alliances, innovation, and increasing production capacity in high-growth markets.

KPMG’s 2011 Global Manufacturing Outlook, an annual survey of manufacturing executives from global companies with at least US$1 billion in revenue, shows that  businesses also plan to focus on research and development (R&D), customer relationships, and cost containment in the next two years.

Jeff Dobbs, KPMG’s global head of Diversified Industrials and a partner in the US firm. “Today we’re seeing that despite an increasing set of cost challenges, manufacturers are realigning their business models to prioritize top-line growth.”

Listing the top five markets for expected increase in demand, respondents ranked the U.S. as number one, closely followed by China, India, Brazil and Germany. Slightly more than half of manufacturing executives see emerging markets as key to their growth strategies. This year’s survey shows China remains the leading sourcing destination, followed by the U.S., India, the UK and Brazil.

Price volatility of raw materials and inputs is the number one challenge identified by 44 percent of manufacturers, and an even greater challenge among 54 percent of Asian manufacturers, while U.S. manufacturers regarded competition and pricing pressures their chief concerns.

Despite market volatility, 39 percent of respondents say they will grow through mergers and acquisitions (M&A), joint ventures and alliances; and 30 percent through increased production capacity, mainly in high-growth markets. While cost management continues to be a top priority, 35 percent of respondents plan to invest in innovation and R&D.

Almost 80 percent of global manufacturers participating in the KPMG survey are cautiously optimistic they can realign their businesses toward top-line growth over the next two years.

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A new survey report from Ernst & Young indicates pharma companies should focus on building a strong internal controls system to comply with new regulatory guidelines regarding pharmaceutical marketing in India.

The Ernst & Young study titled, ‘Pharmaceutical marketing: ethical and responsible conduct’ is based on a survey conducted among Healthcare Professionals (HCPs) and pharma marketing professionals to understand the effectiveness of the code formulated by Department of Pharmaceuticals (DoP) to regulate marketing practices.

The DoP recently formed by the Government of India, has introduced a code of pharmaceutical marketing practices (UCPMP) to check for any irregularities in the industry. Meanwhile, the Medical Council of India (MCI) has added new regulations for HCPs with pharmaceutical and other healthcare sector companies, creating a two-tier approach.

Survey findings revealed only 36% of the respondents felt the MCI’s guidelines would have an impact on the overall sales of pharma companies, while a majority of respondents (90%) believed pharma companies should focus on building a strong internal controls system to comply with UCPMP.

Commenting on the survey, Arpinder Singh, Partner & National Leader, Fraud Investigation and Dispute Services (FIDS), Ernst & Young India said, “Along with the MCI guidelines and code of marketing, India has adopted a two-tier approach that covers HCPs (doctors) and pharmaceutical companies operating in the country, to create a transparent and ethical environment that will benefit consumers.” The implementation of the uniform code of pharmaceutical marketing practices (UCPMP) would encourage good marketing practices by pharmaceutical companies.

More than half of the respondents to the survey felt the effectiveness of the code would be modest in the absence of legislative support to the UCPMP committee. Singh suggests the best way for pharma companies to achieve compliance with government regulations is to implement an effective internal compliance review program (CRP).

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Global chemical executives expect strategic acquisitions, investment in technology, and expansion into new markets will stimulate growth and give their companies a competitive edge, according to a recent KPMG survey.

A majority (70%) of senior level chemical executives in the U.S., Europe and Asia-Pacific participating in the KPMG survey revealed their companies have significant cash on their balance sheets for acquisitions, technology, and expansion into new markets.

Referring to the combined challenges of organic growth, production costs and a struggling global economy, Mike Shannon, global and U.S. leader of KPMG’s chemicals and performance technologies practice, comments: “All of these factors set the stage for increased expansion in emerging markets, M&A, and innovative product strategies as companies look to gain an edge.”

Eighty percent of respondents plan to boost capital spending for new products and services, acquisitions, and research and development in 2012, with almost two-thirds of executives planning to invest capital before the year-end.

Sixty-six percent of respondents expect their companies will be involved as a buyer in a merger or acquisition in the next two years, while 71 percent of European executives expect to be in a buyer position. Asia-Pacific executives also predicted an increase in capital spending in their sector.

Forty-two percent of survey participants indicate emerging markets currently account for more than 30 percent of companies’ revenues, with 61 percent expecting revenues from these markets to exceed 30 percent by 2015.

Chemical executives identified expansion into new markets, followed by new product development, acquisitions/joint ventures, and organic growth as the biggest anticipated drivers of revenue growth for their companies over the next three years. By regions, European executives cited market expansion as the main driver of revenue growth; Asia-Pacific executives ranked new products and organic growth as the primary drivers of growth; while acquisitions/joint ventures and new products were identified by chemical executives in the U.S. as the principal drivers for revenue growth over the next few years.

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By Renee O’Farrell, Big4.com Blogger

Working Mother magazine recently ranked the top companies for mothers to work for in the US. The companies were judged on their answers to 650 questions, covering subjects such as, “ The access and usage of flexible work arrangements, parental leave, childcare, health and wellness support, and the advancement of women to management,” according to SeattlePI.

Ernst & Young, Deloitte, KPMG and PricewaterhouseCoopers were all listed in the Top 10 Best Companies for others to work.

Ernst & Young and KPMG has topped the Working Mother list for the last 15 years. Ernst & Young offers would-be parents $5,000 toward adoption costs while KPMG employees get 20-30 paid days off per year in addition to the 8-11 paid holidays they receive. PricewaterhouseCoopers offers working moms (and dads) the ability to work 20 hours per week and still receive full benefits. Moreover, the firm also allows working parents to reduce their hours without losing their job titles or abilities for promotion. Deloitte is also generous. It allows parents to telecommute, reduce workloads, take paid sabbaticals, or even take up to 5 years off! Moreover, the firm has gender neutral policies and offers aid that parents can use to help with paying their mortgages or to pay for their chid’s education.

Other companies that made it to the top 10 include: Bank of America, Discovery Communications, General Mills, Prudential Financial, TriHealth and WellStar.

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The Wall Street Journal reported recently, that a delegation of Chinese regulators will visit Washington, DC in October. The US and China continue talks on allowing American inspectors to scrutinize Chinese audit firms, said the a top US regulating officer last month. The planned visit was confirmed by James Doty, chairman of the Public Company Accounting Oversight Board.

The visit is the next step in an attempt to fix what Mr. Doty has called “a gaping hole in investor protection”. Dozens of Chinese accounting firms that audit US traded companies aren’t subject to US oversight.

With accounting questions surrounding many Chinese companies in recent months, the US is pushing for an agreement that would allow inspections in China. A delegation of US regulators visited Beijing in July, in what both sides later said was a “very productive” meeting. At that time, the US and Chinese regulators agreed that a Chinese visit to Washington would follow.

Inspectors for the accounting oversight board, the government-sanctioned regulator of US audit practices, conduct regular evaluations of accounting firms that audit companies listed on US markets, even if they’re based overseas, to assess the firms’ performance and make sure they’re complying with auditing standards. But so far, Chinese authorities haven’t allowed U.S. inspectors into their country, citing sovereignty concerns.

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The Financial Intelligence Centre Amendment Act is aimed at preventing money laundering in South Africa. The Act allows regulators to inspect banks and related financial institutions, attorneys, casinos, and real estate agents, to ensure these accountable organizations are not being used for money laundering purposes, and are able to report cash transactions above certain levels, and suspicious activities to the proper authorities.

The casino industry is especially vulnerable to money laundering activities. Casinos offer different types of financial services such as foreign exchange, transfers and cheque-cashing and often allow money to move between accounts in various countries.

“Globally, the gaming sector is highly susceptible to misuse due to the nature of operations and high cash volumes associated with it,” comments Roy Melnick, PWC associate director, Regulatory Risk Services, and a Certified Anti-Money Laundering Specialist. High turnover rates among casino employees “can lead to weaknesses in staff competencies and training, resulting in suspicious activities going undetected,” he says.

Players using casino accounts for bank-like transactions, or ‘refining’ in which a high volume of low denomination bank notes are exchanged into higher denomination notes are just two of the many techniques criminals use to exploit casinos and launder money.

Conspiring with casino employees also enables money laundering activities to go undetected.

Melnick suggests effective customer identification and record-keeping procedures, as well as appointing a qualified individual responsible for the overall compliance function should be the specific obligations of the gaming industry. In addition, employees should be trained to recognise and report suspicious gaming transactions. Casinos that fail to deal with these obligations could face negative media attention affecting their business, in addition to legal and financial repercussions, and loss of their operating license. “There is also personal liability for those responsible for implementing measures to ensure compliance, and who do not take the necessary action,” he adds.

Melnick says accountable institutions in South Africa must have effective anti-money laundering programs in place in order to effectively meet their regulatory obligations.

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The World Economic Forum announced Wednesday that Switzerland ranks first among the world’s economies in the WEF’s annual competitiveness survey. This is the third year that Switzerland has received the honor as well as the third year that the U.S. has fallen in the prestigious ranking.

According to the WEF report, Switzerland received the high ranking largely due to its population’s high health, strong education and technological capabilities. Traditionally, these factors have combined to give Switzerland a pronounced strength in producing high quality, and in turn high value, products. That combined with a strong economy has made Switzerland “one of the strongest countries in Europe,” according to Swiss National Bank Chairman Phillipp Hildebrand.

However, as noted by Professor Stéphane Garelli, head of Lausanne’s IMD business school’s World Competitiveness Center, “Switzerland is a small country and not the first priority on the minds of many people.” He said, “There are so many other issues confronting large governments that they have a tendency to forget about us relatively quickly.” But, maybe it should be.

Sure, things are up and down in the Swiss financial markets as various reforms are considered, such as the negotiation of double taxation agreements and the U.S. threatening to sue the Swiss government over its banking security laws, but with all this Switzerland is still an exceptionally strong economy. In fact, according to the World Bank Group, Switzerland a GNI per capita of $67,560 USD, compared to a U.S. GNI per capita of only just over $47,000; that is a lot of disposable income that a company expanding into Switzerland can tap into.

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Accenture, global management consulting, technology services and outsourcing company, announced their partnership today, September 7, 2011, with The Texas Health Services Authority (THSA) – created by the Texas Legislature through House Bill 1066 in 2007 as a public private partnership. Accenture has completed an assessment and plan to support implementation and interoperability standards for a state-wide health information exchange (HIE) for the THSA.

THSA is legally structured as a nonprofit corporation, to support improvement of the Texas health care system by promoting and coordinating health HIE exchange and health HIE technology throughout the state. The THSA is working under contract with the Texas Health and Human Services Commission (HHSC) to implement HIE strategic and operational plans for the State of Texas.

To ensure consistency with Texas state and federal requirements, Accenture has identified technology standards, architecture, and strategy. The strategy will support interoperable health information and management and exchange among unaffiliated organizations. Accenture has also developed an enterprise architecture blueprint (EAB) for state-level HIE services and a plan to manage the EAB life cycle to help ensure compatibility as standards evolve.

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The Wall Street Journal reported Tuesday, September 6, 2001, that US investors now find themselves scrambling to escape more fallout from Europe’s spiraling debt crisis.

“Clearly, the risk is another 2008-like scenario,” said Dan Greenhaus, chief global strategist at BTIG, pointing to the lack of obvious safe havens amid widespread selling. The Dow Jones fell 100.96 points Tuesday, while gold jumped to a record high in intraday trading and Treasury bond yields traded below 2% for much of the day, Tuesday, and finished at a record closing low.

Tuesday’s heaviest losses came shortly after the opening bell in New York, with the Dow falling more than 300 points, following Monday’s heavy declines in Europe and Asia during the U.S.’s Labor Day holiday.

Bank stocks in Europe and the U.S. took the brunt of the damage, in a reflection of renewed fears about the fundamental health of the global financial system and policy makers’ inability to address deep-rooted economic issues.

“From an investor’s standpoint, do you want to be exposed to a modest upside with a very significant downside?” Mr. Greenhaus said. “You can see why investors would want to move to riskless assets in response to what could be another 20% fall.”

With the faltering of some investors’ faith in major currencies and the banking systems of the major Western economies, those seeking shelter have poured their assets into gold, US Treasury’s and perceived safe-haven currencies.

“This is definitely a situation that appears to be reaching a climactic moment,” said Constance Hunter, chief economist of investment fund Aladdin Capital Management LLC in Stamford, Conn. “I think we’re going to see a bolt from equities and a flight to quality in the debt markets.”

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Industry leader Netflix announced Friday, September 2, 2001, it would not be renewing its Starz contract for next year – the current contract will end on February 28, 2012.

While Netflix remains confident that the change in streaming content will work to its advantage, as it courts other providers, the public is of a very different opinion. By midday Friday, Netflix’s share price dropped over 9%. The news comes only months after Netflix announced a change in its fee structure that nearly doubled the cost of its service to subscribers. Since mid-July, when the subscriber rate change was announced, the Netflix share price fell by almost 30%.

The issue appears to be that the cost of content acquisition has increased and Netflix is struggling to keep up. Unless Netflix can pick up new streaming content comparable to Starz, the loss of the movie giant’s contract may be the beginning of the end.

To date, on-demand content is limited to cable providers offering video-on-demand cable for a premium and Internet streaming services like Hulu, which offer television shows within days after airing. Traditionally, many subscribers found they could subscribe to both Hulu and Netflix for less than on-demand cable and gain the benefit of new release DVDs.

However, with Starz out of the picture, and the fact it no longer offers DVD service under the same low monthly fee, Netflix has lost its competitive edge, or at least it will, come February 28, 2012.

If the rumours are true, and Netflix-competitor Hulu is currently up for acquisition, with Amazon, Dish, Google, Yahoo and DirecTv all submitting bids, Netflix will have to find another content provider if it is going to remain competitive.

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BJ’s Wholesale Club Inc, a leading warehouse club operator in the United State, recently agreed to a $2.8 billion buy-out. Wal-mart offered $3 billion but was turned down, according to the New York Post. Bloomberg reported BJ’s move has caused at least one investor to file suit against against the firm, describing the $2.8 billion deal as “grossly inadequate”. Final approval of BJ’s shareholders is still up in the air, however, the acquisition is expected to be completed next quarter.

Leonard Green & Partners, the Los Angeles based investment group that focuses its purchases on retailers with distinctive brands, is the buyer, catering to upper middle class consumers not affected by the economic crises. Leonard Green’s portfolio includes clothing retailer J. Crew and fabric chain Jo-Ann Stores, as well as stakes in the upscale department store Neiman Marcus, the organic grocery chain Whole Foods Markets, home goods retailer Container Store, and sporting goods retailer Sports Authority.

Leonard Green will make the BJ’s Wholesale investment in tandem with CVC Capital Partners – the investment group that rose to fame after buying and selling the UK department store chain Debenhams in 2009 for a £500 million profit. Leonard Green’s strategy has always been to take its investments private only to re-list them later, rather than selling to another buy-out group or investor, which is exactly opposite to CVC Capital’s strategic focus.

Time will tell whether the partnership with CVC works to Leonard Green’s advantage, or if the investment group is pushed into an uncomfortable arena.

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Deloitte recently launched a social media site dedicated to sharing business analytic practices. Real Analytics is an online community where businesses can share insights into Analytics data and strategies. The site will help business leaders use Analytics data to solve problems they would not be able to tackle otherwise.

That is the mission John Lucker stated in a recent press release, “Analytics help businesses in a number of ways. In order for businesses to operate more effectively, they need open discussion and efficient exchange of information”. Through Deloitte’s Real Views hub, professionals may share data freely and openly.

Deloitte intends to provide a space where professionals, executives and researchers, from both the academic and corporate settings, may engage with each other, and share advice as well as their opinions on current events.

Lucker said organizations want and need a better understanding of data and how it can be used to run their businesses more effectively, however, it is difficult to share these strategies through current systems.

Real Analytics also provides real time coverage on how businesses are using Analytics to solve complicated business problems, such as:

o  Analyzing key financial information. Financial firms can use this knowledge to maximize return on investment or implement more effective cost management programs;

o  Better understanding customers. Data on customers can be better analyzed to maximize return on investment or implement more effective cost management programs;

o  Workforce Analytics. Members of Real Analytics can share data and findings related to workforce management.

This data can be applied to improve employee productivity. Real Analytics is about companies and professionals openly sharing information. Rather than keeping their findings confidential, they can create full disclosure.

Deloitte’s new site should provide a powerful opportunity for businesses and experts around the world to help implement sounder, and more effective, business practices.

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Over the next few months, the insurance industry needs to work closely with policymakers regarding the possible SIFI and RRP framework regulatory requirements as it appears inevitable some insurers will be classified as systemically important financial institutions (SIFIs) according to a KPMG report.

“Insurers shouldn’t continue to believe they are immune from the SIFI debate and must accept that systemically important insurers could face significant cost increases from capital surcharges and recovery and resolution plans (RRPs), commented Jon Pain, co-head of KPMG’s European Regulatory Centre of Excellence, adding insurers need to get involved if they want to influence the outcome.

A new KPMG report titled, Systemic Risk and Resolution and Recovery Plans: The need for a broader debate, highlights while the Financial Stability Board (FSB) has mainly focused primarily on the banking sector, the insurance industry is next with the FSB awaiting recommendations on these issues from the International Association of Insurance Supervisors (IAIS).

Drew Fellowes, UK head of insurance at KPMG, commented:

“As with the banks, the industry should consider how insurers could position themselves to be capable of being resolved without recourse to taxpayer support. In addition to broadening the classification of SIFIs, the industry should be looking at other policy options such as establishing a better ladder of regulatory intervention; development of a better framework for group-wide supervision and consolidated supervision; enhancing their own risk and solvency assessment (ORSA) analysis to include resolvability and increased usage of stress and scenario testing to improve risk appetite and strategic considerations.”‪

These additional regulatory requirements could require changes in legal and operating structures for insurance firms in addition to having a significant impact on pricing. Fellowes says insurers must find new ways to enable the industry to find the most appropriate and efficient response to the proposed RRP framework.

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The second annual report published by The ADC Forum, an Australian leadership organization, in collaboration with KPMG, highlights potential environmental risks Australia faces over the next decade and the impact of these risks on the Australian economy.

Based on surveys and recent discussions with key leaders in business, government and academic sectors, The Australia Report 2011: Risks and Opportunities, interprets the connection between environmental risks to risks in other areas such as politics, technology, society, and the economy. Themes outlined in the current report and those from a past report include consequences of climate change, inadequate research and development, inadequate infrastructure investment, and consequences of climate change.

Possible and severe environmental issues are the predominant risk facing Australia, which correlate to risks associated with water and food security affecting society, which in turn lead to economic risks such as an unstable infrastructure and fluctuating energy prices, according to the report.

Weak trading partners posed the highest economic risk based on current instabilities with the U.S. economy, a slowdown in China’s growth, and Japan’s natural disasters, followed by concerns with overseas asset pricing.

Respondents to the survey identified ‘economic disparity’ and ‘infrastructure fragility’ respectively, as the top two interconnected risk factors affecting stability and productivity.

Anton Roux, Director of Programs, ADC Forum, commented, “Fiscal crisis rated as one of the most costly risks. While Australia’s own risk was considered low, fallout from a European sovereign debt default would make it more difficult and expensive for Australian banks to access wholesale funds.” He noted the country’s ability to support a maturing population was rated a significant demographic risk highlighted in the report.

The report acknowledges the important connection between risks and opportunities and their global perspective. According to Anton Roux, these findings suggest Australia needs to be proactive in planning for potential risks.

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A recent poll conducted by PwC US of 175 private equity and senior corporate executive  during PwC’s “Private Equity and Environmental Sustainability” Webcast revealed most  (88 percent) respondents believe environmental sustainability will become an important factor in future investment and business decisions and investments.

Commenting on the long term value of environmental sustainability, Lauren Koopman, PwC Director, U.S. Sustainable Business Solutions, said the PwC poll confirms decision makers understand the importance of sustainability for the future of their businesses.

Respondents ranked the main factors for sustainability leading with opportunity for profit (33.5 percent), followed by risk mitigation (22 percent), image enhancement (19 percent), and regulation (9.5 percent).

Tim Hartnett, PwC’s U.S. Private Equity Leader, said: “It’s a mistake not to look at the opportunities that a strategic sustainability program can bring to private equity and businesses of all shapes and sizes.” He adds, “Beyond compliance, environmental sustainability affects the entire business spectrum, offering benefits through a strategic, operational, reputational and financial lens.”

Of senior executives from private equity firms participating in the poll, 72 percent identified sustainability as a top priority, compared to 68 percent of executives from corporate organizations. While 22 percent of respondents indicating they are beginning to implement sustainability strategies, 54 percent admit to having no mandate or insufficient resources to develop sustainability for their businesses.

PwC network firms provide industry-focused assurance, tax and advisory services to enhance value for their clients. More than 161,000 people in 154 countries across the PwC network share their thinking, experience and solutions to develop fresh perspectives and practical advice. See www.pwc.com for more information.

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In a recent poll conducted by Ernst & Young and the Economist Intelligence Unit (EIU) for the latest Capital Confidence Barometer, an overall level of optimism among executives in the hospitality and real estate sectors contrasted with confidence levels among 66% of executives polled in more than 1,000 global firms.

Findings revealed seventy-nine percent of executives in the hospitality and real estate sectors were optimistic about economic recovery, while 57% reporting economic confidence with one-quarter of those more doubtful about the economy just six months previous.

Poll findings indicate 42% of executives in the hospitality and real estate industries are expecting growth in their respective sectors in the near future and as a result are concentrating on either raising or investing capital.

According to Michael Fishbin, Global Hospitality Leader at Ernst & Young, “The outlook for M&A activity in the hospitality and real estate sectors seems to be brightening. In October 2010, only 20% of executives polled expected to execute a transaction in the next six months, but that figure more than doubled in our April 2011 survey.”

Poll results indicate cash flow preservation and liquidity are two main target areas for hospitality and real estate companies over the next year, followed by cost reduction and operational efficiencies. The cash flow and cost reduction targets may be due to an increase in new mergers and acquisitions by companies over the next six months. Interest asset acquisitions in emerging markets were shown to be 50% higher than previous survey findings, while interest in non-distressed asset acquisitions were 75% higher.

Ernst & Young is a global leader in assurance, tax, transaction and advisory services. Worldwide, our 141,000 people are united by our shared values and an unwavering commitment to quality. We make a difference by helping our people, our clients and our wider communities achieve their potential.

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