Deloitte

Deloitte Consulting is a part of Deloitte Touché Tohmatsu Limited (DTTL), a limited liability Private Company in UK under which exist many independent member firms located in different geographical areas.

Deloitte DTTL is considered as a Professional Services Network and one of the Big Four Professional Service firms along with PricewaterhouseCoopers (PwC), Ernst & Young, and KPMG.

Read more Company Facts about the Big 4 – Ernst & Young.

A Professional Service Network is a network of independent firms who come together to cost-effectively provide services to clients through an organized framework.

DTTL by itself does not provide services to its clients. These services are provided by its member firms which are subject to the laws and regulations of the particular country or countries in which they operate. DTTL and each DTTL firm are separate and distinct legal entities which cannot obligate each other and each firm is liable for only their own acts or omissions and not those of each other.

DTTL Financial Information

• DTTL is the second largest professional services network in the world by revenue
• The Company employs over 193,000 employees
• The Company has operations in more than 150 countries
• For the FY2012, the firm earned a record revenue of $31.3 billion USD
• The Company has its headquarters located in New York City, United States of America.

In India, Deloitte is present in the form of Deloitte Touche Tohmatsu India Private Limited and provide services in Audit & Enterprise Risk, Tax, Consulting and Financial Advisory Services across thirteen cities.

History of Deloitte

1. Deloitte was founded in 1845 by William Welch Deloitte (known as Father of Accounting)
2. In 1952, the US firm of Deloitte had merged with Haskins and Sells (an accounting firm established in New York in 1896)
3. In 1947, Touche Niven (an accounting firm established in New York in 1900) merged with A.R Smart and Bailey to form Touche, Niven, Bailey & Smart
4. In 1960, they merged with a Canadian firm Ross to become Touche, Ross, Bailey & Smart
5. In 1975 Tohmatsu Awoki & Co.(formed in 1968) merged with the Touche Ross network
6. In 1989, Deloitte Haskins & Sells in the USA merged with Touche Ross in the USA to form Deloitte & Touche
7. In 1993, the name of Deloitte Touche Tohmatsu was chosen which was later changed to Deloitte & Touche Consulting Group, now known as Deloitte Consulting.

Deloitte Acquisitions

1. In 2000, Deloitte acquired Eclipse to add Internet-based design solutions to their consulting
2. In 2002, it acquired Arthur Anderson’s UK practice firm
3. In 2009, it acquired BearingPoint (formerly KPMG Consulting)
4. In 2010, it acquired Drivers Jonas, a UK property consulting firm
5. In 2011, it acquired DOMANI Sustainability Consulting and ClearCarbon Consulting
6. In Jan 2012, Deloitte announced the acquisition of Übermind, Inc., which is Deloitte’s first entrance into the mobile application field
7. In November 2012, it acquired various offices of Monitor Group, a strategy consulting firm founded by Harvard Business School professor Michael Porter.

Deloitte Services

The services Deloitte provides in India are:

• Audit & Enterprise Risk – It provides the organization auditing and advisory services, as well as offerings in enterprise risk management, information security and privacy, data quality and integrity, project risk, business continuity management, internal auditing and IT control assurance.

• Tax – Helps clients increase their net asset value. It undertakes the transfer pricing and international tax activities of multinational companies, minimizes their tax liabilities, implements tax computer systems, and provides advisory of tax implications of various business decisions.

• Consulting – It provides services to the clients in the areas of:

i) Enterprise applications: help clients in implementing and using the enterprise application software Oracle and SAP
ii) Technology integration: help clients in realizing the business value from IT and use it as an enabler for organizational success
iii) Strategy & Operations: as the name suggests, firm help in strategic decision making and implementing so as to improve business in areas such as business IT strategy, enterprise cost reduction, corporate performance measurements, business process reengineering, customer relationships, mergers & acquisitions, CFO framework and program leadership
iv) Human capital: help clients address HR-related issues such as organisation culture, change and performance optimization, learning strategies which complement individual corporate strategies
v) Business Process Solutions: help clients by assisting in support activities such as accounting, administration of finances and personnel

• Financial Advisory Services – Advisory services in corporate finance, transactions, valuations, forensic & dispute resolution and reorganization with a focus on helping the clients increase value.

Deloitte Outlook

The rising need of consultancy in business environment suggests that the company is having a positive future and growth. The revenue generated in the FY 2012 itself says the entire story about the firms prospects of growth. Also the recent acquisition made by the firm to enter into the diverse area of mobile applications, mobile networks (the trend of today’s generation) consulting, it is expected that the company is going to expand enormously in the future.