Deloitte is a multinational private company limited by guarantee with headquarters in London, England United Kingdom. The multinational company provides professional services to its clients through its subsidiaries worldwide. The services provided at Deloitte include tax, legal, risk advisory, audit, financial advisory, and management consulting. Deloitte has over 700 offices worldwide and is ranked as one of the top 100 companies to work for and launch your career. Deloitte has several competitors in the industry. This article brings you all the competitors and alternatives in detail.
Who Are Deloitte Competitors?
Among Deloitte strong competitors and alternatives are PwC, KPMG, Accenture, Infosys, and Capgemini. These competitors provide almost the same services as Deloitte. The market can choose amongst them depending on the competitive advantage each has over the others. Let’s look into each in detail and know each company’s competitive advantage.
PricewaterhouseCoopers International referred to as PwC is the second largest professional services network worldwide and part of the Big Four Accounting organizations. The firm is headquartered in London, England, and provides services such as assurance, risk assurance, tax and advisory, data & analytics, financial services, forensic accounting, and financial advisory. PwC doesn’t provide services to clients but creates a coordinated approach in areas of quality, strategy, and risk. The firm operates in 157 countries. PwC is the second largest of the big Four and Deloitte’s biggest competitor. PwC’s competitive advantage is that it holds the biggest market share in other markets while Deloitte has more market share in the US. PwC’s largest portion of revenue is from audit, tax, and risk advisory.
KPMG is an International organization and one of the Big Four Accounting organizations. The firm incorporated in London, England has its headquarters in Amstelveen, Netherlands. KPMG provides professional services in areas like actuarial, Assurance, Financial advice, legal advice, tax advice, and consulting services. KPMG operates in over 145 countries with each firm being an independent entity. KPMG is a bit smaller than Deloitte. The company’s employees also boast of a good working environment and good company culture. The services are great and so is customer service. KPMG and Deloitte generate most of their revenue from consulting and advisory. However, Deloitte continues to grow its revenue at a slightly higher rate than KPMG and is, therefore, more competitive.
Ernst & Young.
Ernst and Young (EY) is a multinational company providing professional services and one of the Big Four Accounting firms. The firm has its headquarters in London, England, and majorly provides assurance services. Other services provided by EY are financial advisory, legal services, digital strategy, strategy consulting, and Tax advisory services. The firm operates in 500 countries in over 700 offices. These work as separate legal entities. Deloitte earns more in revenue compared to Ernst & Young. Ernest and Young’s competitive advantage is in its job security and advancement. However, Deloitte provides more in terms of compensation and benefits. EY’s largest revenue stream comes from assurance and consulting.
Accenture is based in Dublin and is a professional services company. The Irish American company provides consulting services, and IT services and is a Fortune 500 global company. Accenture’s major clients are Fortune 100 global companies and Fortune 500 global companies. The major services provided by Accenture are Accenture strategy and consulting, Accenture Song, Accenture operations, and Accenture Technology. Accenture operates in about 120 countries worldwide. Accenture competes with Deloitte in services such as consulting. However, Deloitte is an industry leader in the segment. Accenture’s competitive advantage is in its IT services and outsourcing in which Deloitte has a small market share. Accenture’s total revenue in 2021 was $50.53 billion.
Mckinsey & Company.
McKinsey & Company founded in 1926 is the largest of the Big Three management consultancies. It offers professional services such as management consulting to organizations, governments, and various corporations. The company operates worldwide in approximately 65 countries and is very selective in its hiring process. McKinsey doesn’t disclose its financial data but its annual revenue is estimated at $10 billion or more. McKinsey is purely a consulting firm and Deloitte is the largest consulting firm. Deloitte’s competitive advantage is in its ability to provide other services like tax and audit to its clients. while McKinsey is considered better than Deloitte in terms of the working environment, management, and compensation and benefits.
Boston Consulting Group.
BCG in Boston, Massachusetts is a management consulting firm and part of the big three management consultancies. The company has operations in more than 90 countries and employs approximately 25,000 employees. Boston Consulting Group’s revenue as of 2021 was $11.0 billion. BCG’s major service is management consulting. BCG’s competitive advantage is in its senior management, career opportunities, and compensation and benefits.
The biggest of Deloitte’s competitors are part of The Big Four Accounting firms. EY, KPMG, and PwC compete strongly with Deloitte because they all provide the same services in the same markets. Other competitors BCG, McKinsey, and company, and Accenture compete with Deloitte in terms of its consulting service.