Deloitte Sees Massive Boost In Global Revenue Due To Fallout From Pandemic

In a 5.5% increase from the previous fiscal year, multinational professional services firm Deloitte has posted a global revenue of $50.2 billion.

A major player in the professional services and management industry, Deloitte has enjoyed consistent annual growth throughout the last several years. However, it’s Deloitte’s response to the COVID-19 pandemic and other recent crises that has allowed it to distinguish itself, according to Deloitte Global CEO Punit Renjen. Renjen cites Deloitte’s ability to facilitate collaboration among various sectors as the fuel for its recent success, arguing that the uncertainty of recent years “has shown what can be achieved at speed and scale when businesses, governments, and society work together to tackle tough global challenges.”

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Deloitte has reported growth in nearly every sector in which it works, but the standout has been its financial advisory division, with growth approaching 13% over last year. This has been attributed largely to increased demand for financial advising among international consumers provoked by the diverse and often confusing pandemic responses of local and regional governments (mandates being a particularly thorny financial matter), which the company has provided services to help navigate. Other Deloitte departments, including Risk Advisory, Audit & Assurance, and Tax & Legal, also posted considerable increases in revenue.

As befits a truly global company, Deloitte’s growth has manifested in various international regions, with its Asia Pacific division seeing the greatest increase at 14%. Global alliance and ecosystem business also saw a rise of 24% according to the company. Further recent international partnerships with major organizations such as the National Women’s Soccer League indicate the company’s trajectory of expansion is likely to continue.

Throughout the pandemic, the Big Four consulting firm has been a model for providing a forward-thinking, people-first response to critical global issues. Internally, the company made waves with the establishment of an equity and inclusion project called ALLIN, and as a founding partner of the organization Global Business Collaboration for Better Workplace Mental Health, Deloitte created a framework to assess and uphold the mental health of its staff—a particularly necessary support structure during a global pandemic.