PwC formally known as PricewaterhouseCoopers is one of the best-known professional services firms in the world. PwC is also known as one of the “Big Four” accounting firms and enjoys a large number of global clients. The company enjoys influence across many parts of the world and punches above its weight when it comes to influencing the global economic agenda. With this impressive pedigree, PwC has now chosen to rebrand, deploy a new logo, embrace a new values proposition and change the way it thinks and acts in order to differentiate itself from the competition.
Now is the right time
Rebranding comes at a cost, especially when you employ one of the best-known branding companies in the world. So, was now the right time? In one sense, it couldn’t be better with so many companies taking a very conservative view of the future.
PwC is making a bold statement. So often, professional services firms are reluctant to lead from the front and pin their credentials to the wall and state what they believe in and what they stand for. So, has PwC achieved this ambitious statement?
What’s it all about - values and relationships
After watching the glossy corporate video, with real people talking openly about what the rebrand is all about, you find that it’s all about value and relationships. But wait a moment, isn’t this exactly what all the other members of the big four say?
Is this a USP?
Is PwC’s new brand proposition really new or is it just a rehash of the same old tune? This kind of value proposition can be crystallised or signalled by a new logo but the change needs to be delivered through the customer experience. To understand what PwC is doing differently, we need to look closer at the way they recruit, train, reward and remunerate their people. It is through people that the brand promises will be delivered.
Does anyone care?
Even if PwC has changed how it fundamentally does business, does anyone care? I think that most business leaders would really like to believe that one of the big four really is taking this proposition seriously. However, it will take time for this change to percolate through all levels of the firm. It is only when the big decisions - the strategic ones - the ones that count - that are made by people who believe in this, will the business landscape see the difference and PwC will realise their return on investment.