The PwC digital transformation is looking good these days. They are doing a lot of effort to make this journey a successful one. How so?
PwC’s digital transformation focus is upskilling three areas. Its business, clients, and communities.
So, how are their effort paying off? Let’s dive into more details in this article.
PwC Digital Transformation
PwC is doing big digital transformation efforts. And they did not forget the importance of upskilling their talents.
And they are getting the benefits of it as their employees are becoming better. They are molded into being tech and analytics savvy.
Also, PwC is automating manual tasks and using AI and analytics. And looking for more ways these can be used in audits and other services they give.
Their goal is to offload some employee tasks. To give them free time to do human things and do high-level auditing and consulting.
So, what are the efforts they are making?
Upskilling is Crucial
As said, PwC’s main focus on digital transformation is upskilling. And this is crucial to a company’s success rate.
PwC is investing a lot of money for its upskilling efforts amounting to $3 billion. This is for tools, training, and technologies.
And a big part of this amount is for the upskilling of its 55,000 employees. Focusing on:
- digital awareness
- understanding data
And these efforts saw great returns. Such as:
- Retention rate. It is higher for PwC employees who went through the digital accelerator program. This is because the company shows them they are important and they are investing in them.
- Productivity. Automating process and usage of AI and analytics proved to be useful. It saved a lot of employee’s time and made them more productive in more important areas.
- Growth. Automation does not mean fewer jobs. But, it makes more room for growth as their skillset widens.
As mentioned, PwC is automating processes. And they use robotic process automation to do this. How does it work? The process looks like this:
- it scans invoices
- input data
- then collect documents
Also, they use centralized workflow tools to organize work phases. From audit discovery, planning, to performing.
Then, they have a visualization software and automated tally of payroll. This to aid in the analysis of data.
PwC also has Cash.ai. A platform that looks out for the company’s treasury to boost cash flow and find problems early.
Becoming a Product Company
Digital transformation is making PwC be a product company. Expanding to offering products aside from giving accounting, audit, and consulting services.
Then, it showed demos of its upcoming products in different development stages. One of them is a product that’s focused on IoT, employee tracking, and making geolocation.
PwC made an internal digital assistant with third-party help called Astro. Its role is to help employees with back-office tasks and aid with the company’s 1,600 systems.
Astro can be reached via talk, text, and touch. Also, it can help employees with:
- checking email
- check calendar
- find employee ID
- check benefits
- other tasks
Further, Astro can also give smart notifications on metrics and coaching among others. These made employees’ tasks easier and they saved more time.
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