2012 was another very strong year. We overcame a slower and more uncertain global economy than expected, and were still able to grow across all our service lines and industry sectors. Our clients continued to call on us to help them address the complex economic,
political, and regulatory challenges they were facing. Increasingly, we are finding that the issues most impacting our clients are specific to their sector and positioning relative to their
peers. Because of this, in 2012 we found that our investments in growing our talent, building strength in our service lines and sectors, and deepening our client relationships enabled
us to provide the help our clients needed.
Drivers Fueling Demand
There are several significant drivers fueling demand for services: increased regulation, global-ization, growth in the emerging markets, disruptive
changes caused by technology, to name a few.
These are being somewhat offset by continued
economic and political uncertainty, both in the
U.S. and globally. In fact, what makes predicting
demand hardest is the ongoing uncertainty. While
some companies are hesitant to spend, they also
need assistance navigating a very complex global
and more heavily regulated environment. When
you add in the disruption caused by the growing
pace of change in technology and a need to expand
into the emerging markets, you find demand for
services. However, a number of companies have
delayed major transformation efforts required for
long-term competitiveness. So, I would say client
demand is still strong but uneven.
At Deloitte, we continue to be optimistic. Our
scale, diversity and positioning have allowed us
to thrive amid this kind of uncertainty. While we
As far as the overall outlook, we see a positive
and strong outlook, efficiency solutions are leading the way for us, along with organizational
transformations. The biggest opportunities for
the firm in 2013 will be our ability to coordinate
global solutions for a higher-level bottom
line impact through institutionalized changes.
Meanwhile, the biggest challenge for us will be
the recruiting of talent to support our growth.
do not disclose growth targets,
we expect to continue to perform
above the market in 2013. We see
many opportunities in 2013. We
expect both Financial Services
and Healthcare to be areas of
growth. We also see opportunities helping companies with
emerging technologies, innovation, restructuring and M&A.
Embedding analytics in more of
our activities is another growth
area. We’re already starting to
see how it helps us improve our
approaches to client challenges.
In 2012, we made several significant acquisitions—in HR transformation and in designing and
developing mobile apps to name
two. We expect to grow in those
areas this year as well.
‘Uncertainty Creates Imbalance’
It’s easy to look at some of the big sources of instability and uncertainty in the global marketplace—the U.S. fiscal imbalances, the European
economy, for example—and see them only as
challenges. And since we have a significant Federal practice, we know all too well that a major
fiscal shift would have impacts on the country,
whether in health, education, military, or housing. But taking a longer view, I remain very bullish and see many opportunities. Yes, there is
uncertainty but that also creates complexity,
which in turn, generates opportunities. We are
very well positioned to support our clients in this
environment and to drive impact.
Consulting January 2013