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pricewaterhousecoopers

PricewaterhouseCoopers, Second-Largest Business Services Chain In The World.

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PricewaterhouseCoopers or PwC is a global network of professional services firms that operate as partnerships. Along with Deloitte, EY, and KPMG, it is amongst the Big Four accounting companies and has the second-largest business services chain in the world.

About The Company

Founded in 1998, PwC is an international network of services firms providing services like Services Assurance, Risk assurance, Tax advisory, Legal Services, Data & Analytics, and Management consulting. Financial advisory and Forensic accounting. PwC firms have over 2,84,000 employees across 157 countries and 742 locations. PricewaterhouseCoopers International Limited is a coordinating body for the worldwide network of firms with headquarters in London. In order to establish a standard and unified approach in areas like risk, quality, and strategy, it oversees the worldwide brand and develops policies and programs. It doesn’t offer customers any services.

pricewaterhousecoopers
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History Of The Company

The term “Cooper” in PricewaterhouseCoopers is derived from William Cooper, a London accountant who established a business in 1854 with his brothers. The aptly named Cooper Brothers amalgamated with two North American companies a century later and named it Coopers & Lybrand.

An accounting firm was established in London, England, in 1849 by accountant Samuel Lowell Price. In 1865, Price formed a company with Edwin Waterhouse and William Hopkins Holyland. Holyland left soon after to continue accounting alone, and the company became Price, Waterhouse & Co. in 1874. Price Waterhouse and Coopers & Lybrand combined in 1998 to establish PricewaterhouseCoopers (PwC). Following the merger, the company, like other significant accountancy firms, had a sizable professional consulting section that provided the majority of its fees. The adoption of intricate integrated enterprise resource planning (ERP) systems by multinational corporations served as the primary driver of growth in the 1990s.

Acquisitions

Omnilogic Systems, Canada’s biggest SAP consultancy partner, was purchased by PwC in 2000. In 2009, PwC started to rebuild its consulting practice through acquisitions, including Paragon Consulting Group and BearingPoint’s commercial services division. The leading Middle Eastern implementation partner for Salesforce, NSI DMCC, was bought by PwC in November 2016. In 2018, Veritas Capital purchased PwC’s U.S. public sector division and renamed the new entity Guidehouse.

Operations

PwC is a collective term for the PwC network and its affiliated companies, with each company having a distinct legal entity under applicable local laws. Each member company is independently owned and operated, much like other professional service companies. PricewaterhouseCoopers International Limited, a private corporation limited by guarantee under English law, oversees PwC. PwC is additionally listed as a multifunctional organization that offers legal services. PwC operates globally, with 44% of its operations in the USA as of 2016. The company’s service line consists of Assurance, Advisory, and Tax services. PwC also contributes to data analysis in a variety of fields. In a 2016 analysis, PwC predicted that by 2020, the global drone market would be close to $127 billion, with Poland leading the way in legislation governing unmanned drones’ commercial usage. The Low Carbon Economy Index, which monitors how much the G20 nations are lowering their carbon emissions, is published by PwC. PwC Portugal is working on a lengthy study project called The Economy of the Sea. It is a component of the HELM project, which was started in 2006 and aimed to develop an integrated strategy for effective and sustainable maritime activities. It gathers information from countries that use the sea as well as the sectors that depend on it and analyses best practices from around the world. Total Impact Measurement and Management (TIMM) is a methodology created by PwC to help businesses conduct impact assessments that will enable them to value all their operations, goods, and services.

Founder – Samuel Lowell Price

English accountant Samuel Lowell Price was born in London. The accounting firm Price Waterhouse, which is now a part of PricewaterhouseCoopers, was co-founded by him, William Hopkins Holyland, and Edwin Waterhouse. He began his career as an accountant at a young age, joining the neighborhood business of Bradley, Barnard & Co. He formed a company with William Edwards in 1848, but it was dissolved by 1849. Later in the year, he went solo and founded the now-famous firm PwC.

IQVIA

Dennis Gillings’s – One Of The Largest Clinical Research Company In The World.

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IQVIA is an American multinational company based in North Carolina, US. The company’s main services are pharmaceuticals, consulting, health information technology, and clinical research. It is also the world’s largest healthcare data science company and a pioneer in human data science technology. With more than 88,000 employees working across 100 countries, IQVIA is one of the largest companies in the world to conduct contract healthcare research. The company was formerly famous as Quintiles and IMS Health Inc and after their merger in 2016, the name was changed to IQVIA. Currently, IQVIA has a market capitalization of more than $49 billion.

About IQVIA

IQVIA is a market leader when it comes to both clinical research qualities and advanced technologies for data analytics. The history of IQVIA dates back to 1982 when Dennis Gillings established a company to provide biopharmaceutical developments and outsourcing services. Today, after 40 years of its successful business and growth, IQVIA has more than 1 billion patient records that are confidential and the company uses IQVIA human data science cloud for 72 times faster data analytics. IQVIA strives towards building a more accurate and efficient healthcare ecosystem and offering customers accurate results, accelerating outcomes, and creating new opportunities.

IQVIA is a result of the merger between two companies, IMS Health and Quintiles to bring the best out of human science and the healthcare industry. IMS Health was originally part of Cognizant Corporation and it was split into two companies (IMS Health and Nielson Media Research) in 1998. IQVIA has involved itself in a variety of projects in partnership with government as well as non-governmental organizations. It has also received several awards in the last few years including Fortune World’s Most Admired Companies in 2021.

IQVIA
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History of IMS Health

Before becoming a part of IQVIA, IMS Health was famous for medical claims, electronic medical records, collection of healthcare information, etc. Before the merger, the company’s headquarters were located in Connecticut, US, and Ari Bousbib was the CEO of the company. In 1998, after IMS Health became an independent company, Cognizant Technology Solutions became a public subsidiary of the company. From then to 2015, the company made plenty of acquisitions starting with Cambridge Pharma Consultancy in 2002. In 2003, IMS Health acquired two companies, Marketing Initiatives and Data Niche Associates, and also sold its entire stake in Cognizant becoming two separate entities.

In 2004, it acquired United Research China to enter the Chinese market followed by other companies like PharMetrics (2005), Life Sciences from the Strategic Decisions Group (2006), IHS (2007), MedInitiatives (2007), and Value Medics Research (2007). IMS Health expanded very quickly and in 2007 it ranked in the Businessweek 50 and for two years (2008 and 2010) it became Fortune World’s Most Admired Companies. In 2008 it acquired a Russian company called RMBC and a Canadian company called Skura professional services group. In 2010, IMS Health became a private company as it was taken by TPG Capital, CPP Investment Board, and Leonard Green & Partners. Some of the other companies that IMS Health acquired after it was privatized are Brogan Inc, DecisionView, Boston Biomedical Consultants, etc.

About Quintiles

Founded in 1982, Quintiles is a company of Dennis Gillings and it has established many subsidiaries in international markets as well. Gillings first incorporated Quintiles in North Carolina and then in 1990, he established Quintiles Pacific and Quintiles Ireland. In the upcoming years, he also established the company in Germany and Atlanta. In 1996, the company made two big acquisitions, namely, Innovex and BRI International followed by becoming the world’s largest CRO. In 1998, Quintiles crossed the $1 billion revenue mark and the next year it became a part of the S & P 500 Index. In 2016, when Quintiles merged with IMS Health it was a deal of $9 billion. The name was changed to IQVIA in 2017.

About the Founder

Speaking of IQVIA, Dennis Gillings has a tremendous contribution behind it as the founder of Quintiles. He is an American billionaire and entrepreneur who founded a multinational company and took it public within a few years. He is also the former Chairman of the company.

Teradata Corporation

Teradata Corporation – A Data Analytics company formed by the significant contributions from Caltech and Citibank.

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Back in the late 1970s, the researchers in the California Institute of Technology along with an advanced tech group of Citibank collaborated to establish Teradata. Teradata Corporation is a company in the data warehousing sector that offers database analytics software and services as its main products. The three main services provided by the company are business analytics, cloud products, and consulting. Teradata’s headquarters is based in San Diego, the US, and its market is expanded to America (North and Latin), Asia, Europe, the Middle East, and Africa. The idea behind Teradata was born more than forty years ago, so let’s have a look at how the company was built.

Founding History of Teradata Corporation

From 1976, the researchers of Caltech and an advanced group of Citibank were working together to develop an unparalleled database management system. The team finally made a breakthrough in 1979 when they made a database management system capable of parallel processing with multiprocessors for design support. The company was launched in July 1979 named Teradata as the system had the ability to manage terabytes of data. A group of seven people opened the office of the company for the first time in a garage at Brentwood, CA. After struggling for a year, Teradata gathered a fund of $150,000 which helped the company make progress.

Teradata Corporation
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Growth of Teradata Corporation

After one year of establishment, the company successfully raised $2.5 million and with this funding hired the R&D team. After three years of research and testing its products, the company offered its first beta system to Wells Fargo in 1983. The company was making an impressive amount of profit and it was named “Product of the Year” by Fortune magazine in 1986. Next year, the company filed an IPO and it is traded in the NYSE as TDC. In 1989, the company went into a joint venture with NCR Corporation to build powerful database computers. After a couple of years, AT&T acquired NCR which in turn acquired Teradata Corporation in the same year.

The company made a great achievement in 1992 when it offered a database system of over 1 terabyte at Wal-Mart. In 1997, NCR was spun off from AT&T and thus it became an independent company once again. This year Teradata received two prestigious awards, namely, The Data Warehouse Institute’s Best Practices Award and DBMS Readers’ Choice Award.

Beginning of a New Era

In 2000, Teradata built its first enterprise-class application called Value Analyzer. This software was built so that the customer can check thorough profitability measurement and the first customer who used this application was the Royal Bank of Canada. The same year, Teradata acquired Stirling Douglas Group of Canada and added Demand Chain Management software to the list of its enterprise applications. Next year, the company introduced another new solution called Financial Management which included both hardware and software services.

In 2002, Teradata launched Teradata Warehouse 7.0 which extended the company’s decision-making just beyond corporate management. In 2003, more than 120 companies switched from Oracle to Teradata as the company launched the Oracle-to-Teradata Migration Program. A huge network was built by the company which involved academic institutes as well. The next year witnessed Teradata’s partnership with SAP and also with Siebel Systems to build integrated and optimized products.

In 2005, the company brought the Linux operating system to its enterprise-class data and next year launched the Enterprise Master Data Management (MDM) solution. With every step Teradata took into the realms of the management system, it delivered products with better performance, easy enterprise integration, etc. In 2007, Teradata and NCR became two separate entities, and the former established a partnership with Agilent Technologies.

Present Day

In 2010, the company was named as one of the world’s most ethical companies by the Ethisphere Institute highlighting the quality of the company in doing ethical business. In 2011, the company acquired Aprimo and launched many new brands. The company has recently partnered with Google Cloud and also joined the NVIDIA partner program to take the company forward in terms of AI and Deep Learning as well.

The company is currently under the leadership of Steve McMillan (President and CEO of Teradata since 2020). He worked at F5 Networks before joining Teradata and also worked with Oracle and IBM.