Business model reinvention

Today’s pace of change and the influence of converging megatrends, from technological disruption to climate change, means that how businesses create, deliver and capture value will need to change fundamentally. It is clear that over the next decade, organisations will face industry reconfiguration, blurred sector boundaries and intensified competition. This requires adjustments or fundamental changes to the way in which organisations operate.

Given the challenges and opportunities our clients face, combined with the dynamic landscape of mandatory audit firm rotation, we recognised that structuring our business as Audit, Tax and Legal Services and Advisory did not allow us to leverage our capabilities to serve our clients optimally.​

As a result, we reconfigured our business model by restructuring PwC Africa into Audit, Consulting and Risk Services (C&RS); Tax and Legal Services (TLS); and Deals.​

We recognise that our core strength lies in our audit capability. Still, we have invested significantly in modernising our working methods by incorporating various technologies, including AI, as part of our ‘next-generation audit’ mindset, with a key focus on quality and technical insight.

With this change in our operating model, we are also signalling to our non-audit/advisory clients that we hold distinct capabilities across Consulting and Risk Services, Deals and Tax and Legal Services. This is underpinned by an end-to-end approach to delivering services across our key platforms: Transformation, Deals, Sustainability and Risk Services, all powered by emerging technologies (including AI).​

Furthermore, the need for cost-effective and agile delivery models has become an essential factor in remaining competitive. As such, we have established a Technology and Innovation Delivery Centre in South Africa. This change to our operating model means we can deploy skills and capabilities based on the African continent, which are not exposed to changes in currency and other external factors.​

We are readying ourselves for the next decade of growth and see the mindset of business model reinvention as a critical part of the African growth story, as well as our purpose to build trust in society and solve important problems.