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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.

Genpact

Pramod Bhasin Founded Genpact For Generating Business Impact.

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Genpact is an American Multinational Business service provider firm. It provides solutions in digital transformation services like digital core, digital analytics, and Artificial Intelligence. It was legally domiciled in Bermuda, having its headquarters in New York City, New York. Its founder and former CEO is Pramod Bhasin, and NV Tyagarajan is the current CEO of Genpact. It has expanded its business in more than 30 countries, reaching a revenue of $4.14B (March 2022).

Foundation and History

Genpact was founded in 1997 by Pramod Bhasin as GE capital international services (GECIS), a Business Unit within Generic Electric with only 20 employees under the leadership of Pramod Bhasin. GECIS played a significant role in the growth of GE between 1998-2001. In 2003, GE reduced its stakes in GECIS by 40%.

Genpact
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Independence

At the beginning of 2005, Genpact became an independent firm starting to provide its services outside of Generic Electrics. It changed its name to “Genpact” with the idea of “Generating global impact”. Also, In 2005, It was listed under the symbol “G” on NYSE (New York Stock Exchange) and has been trading publically since then. It launched a joint venture that same year with NDTV, an Indian company, to offer its outsourcing services to the media industry. In 2011, the company shifted its headquarters to New York, expanding its services in Europe, and Pramod Bhasin resigned his position as the CEO and became Vice-Chairman of the company. NV Tyagarajan became the New CEO of Genpact. Bain Capital was the largest shareholder of the firm in 2012.

Growth and Revenue

At the beginning of 1998, the company hired 800 clients and made a revenue of four million US dollars by 2001, became a company with 12,000 employees, and played a tremendous role in GE’s growth. In 2003, it hired about 17 000 people from India, the US, China, Hungary, and Mexico. In 2005, after its separation from GE, it recorded 493 million US dollars. In 2008, It achieved a revenue of $1 billion, of which half of its clients was other than GE. By this time, it has reached more than 100k employees with 800 clients worldwide with a revenue of $4.14B.

Acquisitions

It also acquired many Renowned companies, such as Endeavour Software Technologies, an enterprise mobility software company, and TandemSeven, an experience design company, OnSource, An IaaS Provider, Commonwealth Informatics, Barkawi Management Consultants, a supply chain management firm etc. It has its main offices in London, Hyderabad, and Delhi.

Pramod Bhasin – Founder of Genpact

Pramod Bhasin is a Wonderful Entrepreneur and former CEO of Genpact. he started Genpact and led it to the firm it has now become. He has a bachelor’s in commerce from Shri Ram College of Commerce and is a CA from Mclinktock & Co, London. He was head of GE capital In Asia and gave 25 years of his life to the growth of GE and Genpact. Genpact was awarded the Global Shared Service Leader of the Year under his leadership. He was also cited and awarded for his contribution. People also called him a finance wizard who started the BPO industry. He was a great Entrepreneur as well as a bright, down-to-earth human being.

NV Tyagarajan – CEO

He is the President and current Chief Executive Officer (CEO) of Genpact. He is known as the Tiger Tyagarajan for his tremendous work in Generic Electrics. Tiger started his career in India with the Unilever Group and then moved to Citibank’s Consumer Financial Services business. He joined GE Capital in 1994 as head of Risk in India and became CEO of GE Capital’s Global Consumer Finance and Auto Financial Services business in India. In GE capital, he served as the global operating leader in the United States. Tiger to collaborates with C-suite executives of large multinational corporations, helping them drive change in their companies to improve their competitiveness. He majored in finance and marketing and holds a Master’s degree in Business administration from the Indian Institute of Management (Ahmedabad). Also, have a degree in Mechanical Engineering from the Indian Institute of Technology (Mumbai). He led Genpact through its crucial time. He is also a core business strategist. He also works with a non-profit organization.

These renowned figures like Pramod Bhasin and Tiger Tyagarajan and many hard-working employees working under them made Genpact the leading Service provider firm it is today.

Qualtrics

Qualtrics – A 19-years Old American Company Funded By Top Venture Capitalists.

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In 2002, Ryan Smith along with his brother, father, and a friend co-founded Qualtrics. Qualtrics is an experience management company that is spread across the world. It has two headquarters in the US, one in Washington and the other one in Utah. Qualtrics is a public company listed on NASDAQ and it has more than 4,000 employees. The company specializes in experience management and provides a cloud-based platform for the same on a subscription basis.

About Qualtrics

In 2002, the company was founded by Ryan Smith, Scott M. Smith, Jared Smith, and Stuart Orgill. Currently, Ryan Smith is the executive chairman while the other members have departed from the company. Zig Serafin is the present CEO of the company. After a decade of founding the company, Qualtrics landed funding from the top two venture capital firms in the US, Sequoia Capital, and Accel. They invested consecutively in two funding rounds and the valuation of Qualtrics became $1 billion in 2014.

In 2018, SAP announced that it would acquire company for $8 billion and the deal was completed in 2019. Two years later, SAP expressed its intention to take Qualtrics public, and thus in January 2021 it was listed in NASDAQ. This year, an executive member of Microsoft, Brad Anderson left the company to join Qualtrics. In 2016 and 2017, the company appeared on the Forbes 100 Cloud List ranking 12th and 6th respectively.

Qualtrics
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History of Qualtrics

When the Smiths along with Stuart Orgill started the company it was mainly a single-product survey company. The academics used this product to conduct research and it was not an ideal business model for a fresh start-up. They were initially serving a very small market with customers who weren’t willing to pay too much. As a result, Qualtrics was unable to land any investors in the early days.

One way to turn the future of the company was to make it a multiproduct company and by 2010 company was able to expand in various sectors. The products of the company helped many organizations to manage customer experience, perform market research, and get employee insights. The change in the business model of Qualtrics helped it attract two top venture capital firms in the country. The series A funding round took place in 2012 where Sequoia Capital and Accel jointly invested $70 million followed by another round of investment in 2014 by the same firms. After these two rounds, the valuation of the company reached $1 billion.

Recent Years

In 2017, Company launched its first experience management platform (XM) to help companies oversee the main four business experiences which are customer, employee, product, and brand. After launching this successful product, SAP showed interest in acquiring the company and the deal was closed in 2019 for $8 billion. In early 2021, the opening price of Qualtrics valued the company three times the amount. Throughout the journey of Qualtrics, the company has rigorously rebuilt the teach stack, replaced codes, and rearranged the company’s structure. It has taken many huge risks and reached its highest potential.

After becoming a multiproduct company, Qualtrics has made two acquisitions. In 2016, it acquired a startup called Statwing and after two years it acquired Delighted. The sum for the acquisition was not disclosed for either of the company. Qualtrics has also received several awards and accolades. Last year, the company earned the designation of “Leader” in Gartner’s Magic Quadrant for Voice of Customers. The Core XM platform of Company was chosen by Edison Awards in the Applied Technology category for the gold winner.

Zig Serafin – CEO

Zig Serafin is the present CEO of the company. He joined Qualtrics in 2016 as the Chief Operating Officer and contributed to the development and launch of the Qualtrics XM Platform. Under his leadership, Qualtrics experienced very rapid growth and increased its customers to more than 13,000. Before joining Qualtrics, Zig worked at Microsoft for 17 years. He was the Corporate Vice President when he left the company.