Professional Documents
Culture Documents
On
DEPARTMENT OF COMMERCE
Christ University, Bangalore
DECLARATION
I, Akshit Desai, do hereby declare that the Summer Internship Project has
been undertaken by me as part of my studies in the degree of Bachelor of
Commerce. I have completed this study under the guidance of Dr.
Karthigai Prakasam C
I also declare that this work has not been submitted for the award of any
degree, diploma, associateship or fellowship or any other title in this
University or any other University.
Place: Bangalore
Date: 10/7/2016
CERTIFICATE
Place: Bangalore
Date:
ACKNOWLEDGEMENTS
I am indebted to many people who helped me accomplish this internship
successfully.
First, I thank the Vice Chancellor Dr Fr Thomas C Matthew of Christ
University for giving me the opportunity to do my internship project.
I thank Dr Tomy Kallarakal, Associate Dean, Dr Theresa Nithila Vincent,
and Head of the Department, Mr. Girish.S, Coordinator, BCOM Honors
Programme Department of Commerce for their kind support.
I wish to take this opportunity to express my deep sense of gratitude to
thank Dr. Karthigai Prakasam C for his invaluable guidance
throughout my project. I sincerely thank Deloitte Haskins and Sells for
providing me with an opportunity to be a part of it.
I thank, for his support and guidance during the course of my summer
internship. I remember him with much gratitude for his patience and
motivation, but for which I could not have submitted this work.
I thank my parents for their blessings and constant support, without
which this internship would not have seen the light of day.
INDEX
Sr.
No.
1
Topic
Page No.
Introduction
Functional Areas
11
52
Personal Experience
58
Conclusion
60
Chapter 1
Introduction
Profile
Deloitte Touche Tohmatsu Limited, commonly referred to as Deloitte, is a
multinational professional services firm headquartered in New York City
in the United States.
Deloitte is one of the "Big Four" and the second largest professional
services network in the world by revenue and the largest by the number
of professionals. Deloitte provides audit, tax, consulting, enterprise risk
and financial advisory services with more than 225,400 professionals
globally. In FY 2015, earned a record $35.2 billion USD in revenues,
with over 225,400 employees in the global network.
As per reports in 2012, Deloitte had the largest number of clients amongst
FTSE 250 companies in the UK and in 2015, Deloitte currently has the
highest market share in auditing among the top 500 companies in India.
Deloitte has been ranked number one by market share in consulting by
Gartner, and for the fourth consecutive year, Kennedy Consulting
Research and Advisory ranks Deloitte number one in both global
consulting and management consulting based on aggregate revenue.
In 2016, Fortune magazine ranked Deloitte as one of the 100 Best
Companies to Work For and Bloomberg Business has consistently named
Deloitte as the best place to launch a career.
For many years, the organization and its network of member firms were
legally organized as a Swiss Verein. A Swiss verein is a formal legal
structure recognized under Swiss law, akin to a voluntary association
under U.S. law. Members of the Verein became part of Deloitte Touche
Tohmatsu (DTTL), a UK private company, limited by guarantee. Each
member firm in its global network remains a separate and independent
legal entity, subject to the laws and professional regulations of the
particular country or countries in which it operates.
This structure is similar to other professional services networks which
seek to limit vicarious liability for acts of other members. As separate and
legal entities, member firms and DTTL cannot obligate each other.
Professional services continue to be provided by member firms only and
not DTTL. With this structure, the members should not be liable for the
negligence of other independent members. This structure also allows
them to be members of the IFAC Forum of Firms which is network of
accounting firm networks.
Deloitte India
Deloitte Touche Tohmatsu India Private Limited (U74140MH199
5PTC093339) a private company limited by shares was converted into
Deloitte Touche Tohmatsu India LLP, a limited liability partnership (LLP
Identification No. AAE-8458) with effect from October 1, 2015.
Deloitte Touche Tohmatsu India LLP is one of the DTTL member firms
in India, which operates through offices in Ahmedabad, Bengaluru,
Chennai, Hyderabad, Kolkata, Mumbai, New Delhi/Gurgaon and Pune.
Their long existence in the Indian professional arena supplements the
technical proficiency of the client service teams to create powerful
business solution tailored to the client's need.
9
Strength from cultural diversity
Our member firm clients business challenges are complex and benefit
from multidimensional thinking. We believe that working with people of
different backgrounds, cultures, and thinking styles helps our people
grow into better professionals and leaders.
10
It also gives room for each business unit or office to operate as its own
entity based on where it's located. Many organizations may experience
more or less business opportunity in different places. This can increase or
decrease financial budgets, revenues, the number of employees at the
location and their salaries. An area's cost of living may also play a factor
in the overall operations at each location.
Deloitte also practices and combining their type of geographical structure
to another modern structure known as "network". While business giants
risk becoming too clumsy to proact (such as), act and react efficiently, the
new network organizations contract out any business function, which can
be done better or more cheaply. In essence, managers in network
structures spend most of their time coordinating and controlling external
relations, usually by electronic means.
Deloitte's management structure is decentralized, with shared power and
authority at all levels, the culture is likely to be more independent,
personalized and accountable.
11
Chapter 2
Functional Areas Of Deloitte
Auditing
An audit is a systematic, independent and documented process for
obtaining audit evidence [records, statements of fact or other information
which are relevant and verifiable] and evaluating it objectively to
determine the extent to which the audit criteria [set of policies,
procedures or requirements] are fulfilled. (ISO 19011:2011Guidelines
for auditing management systems).
It is an objective examination and evaluation of the financial
statements of an organization to make sure that the records are a fair and
accurate representation of the transactions they claim to represent. It can
be done internally by employees of the organization, or externally by an
outside firm.
Since financial statements reflect the true position of the organisation, it
is important to ascertain the credibility of the information provided by the
entity. Auditors are engaged to render an opinion on whether a companys
financial statements are presented fairly, in all material respects, in
accordance with financial reporting framework. The audit provides users
such as lenders and investors with an enhanced degree of confidence in
the financial statements. An audit conducted in accordance with GAAP
and relevant ethical requirements enables the auditor to form that opinion.
12
The various auditing services provided by Deloitte are:
Governance, Regulatory and Risk
Deloittes Governance, Regulatory and Risk (GRR) corporate boards
address the expanding marketplace expectations relating to their
oversight responsibilities. The services include identifying, measuring,
remediating and managing enterprise risk for managing legal and
regulatory compliances and evaluating internal controls for financial
reporting and anti-fraud controls.
External auditing
Internal auditing
13
profitability, and to make suggestions for mitigating the risk associated
with those threats in order to minimize costs.
A recent study revealed that most of the fraudulent activities of banks are
caught by means of internal auditing. It has helped Small businesses save
millions of dollars every year against employee theft by skimming
payments from customers, check tampering, cash theft and misuse of
company credit cards, and improper payroll transactions. It is also
mandated as per Clause 41 of SEBI Listing Agreement.
Audit Analytics
Clients now expect an audit to not only involve risk assessments but are
also looking for the audit to highlight potential areas of operational and
business improvements. Analytical based approaches can assist to refine
the focus of the audit to pinpoint areas of true risk and also potential
reward, allowing audit teams to move from a platform of solely looking
back to providing insight into the organization.
Leveraging the power of analytics, the result of audit activities can
produce insights and conclusions that help decision makers take action
quickly and make more effective, timely decisions. Audit Analytics
delivers audit services to assist clients in achieving their business
objectives, managing their risk and improving their business performance
anywhere in the world
Deloitte India has the highest market share in auditing among the top 500
companies in India, and they have been awarded the Auditing Innovation
of the Year, 2015 at the International Accounting Bullien Awards. They
have employed a total of 1,550 people in this service. The various clients
associated with the firm in India include Multicommodity Exchange
Board of India, the Tatas, Hero Honda, Reliance, HDFC and Sun Pharma.
The single most important factor that makes Deloitte the most preferred
14
auditing firm is its emphasis on confidentiality, personal independence
and professional objectivity.
Financial Advisory
Financial advisory are services, which provides financial advice or
guidance to customers for compensation. Financial advisors (or advisers)
can provide many different services, such as investment management,
income tax preparation and estate planning. They are are designed to help
a business take a realistic look at their financial objectives and understand
how they can be met. It includes stockbrokers, insurance agents, tax
preparers, investment managers and financial planners.
The divisions at Deloitte FA services are:
Fund Raising
Fundraising is a significant way that non-profit organizations may
obtain the money for their operations. These operations can involve a
very broad array of concerns such as religious or philanthropic groups
such as research organizations, public broadcasters, political
campaigns and environmental issues.
Deloitte assists clients in raising capital - equity (private equity,
venture capital) and debt (including structured and mezzanine debt)
by bringing a broad scope of relationships to the table, allowing the
15
client to take advantage of market opportunities as they arise, without
constraints. They also assist clients through the entire lifecycle of the
transactions from business plan preparation to inducting the investor
into the company.
Divestitures
Divestiture is the partial or full disposal of a business unit through
sale, exchange, closure or bankruptcy. It may result from a
management decision to no longer operate a business unit because it
is not part of a core competency. It may also occur if a business unit
is deemed redundant after a merger or acquisition, if jettisoning a unit
increases the resale value of the firm or if a court requires the sale of a
business unit to improve market competition.
The firm assists the clients in partial or full disposal of an investment
or asset through sale, exchange or closure of business.
Privatizations
Deloitte assists in transfer of ownership of property or businesses
from a government to a privately owned entity. The clients are mostly
those seeking to establish SEZs & Industrial Parks, Infrastructure /
Real Estate Projects and to Governments for enabling development
through Public-Private Partnerships mode.
16
M&A advice is provided by full-service investment banks- who often
advise and handle the biggest deals in the world - and specialist M&A
firms, who only provide M&A advisory, generally to mid-market, select
industries and SBEs.
Deloitte helps clients develop strategies that align with their growth
objectives.; prepare them to thoroughly understand the market sector,
screen targets and help set baselines for approaching the top prospects.
The M&A Transaction services provide strategically focused tax,
accounting, consulting and advisory services that has a variety of
perspectives to ensure that significant value items, risks and other matters
have been identified and considered by the client, assisting them in
making an informed decision regarding the transaction. The clients
achieve quantifiable benefits by early identification of potential issues
relating to a deal, significant modifications required to sale and purchase
agreements (SPAs) and valuation model and normalized working capital
needs / improvements.
The various divisions associated are:
17
The vendor wants to be confident that nothing is overlooked. They
provide a deeper insight and a greater understanding of the risks
uncovered during standard due diligence audit.
Bid Support
Working alongside clients in a competitive auction process, they
provide support in analyzing the key issues likely to influence their
bid, involving the appropriate specialists as required. At the initial
stages of an auction process, information is usually restricted to an
information memorandum and a vendor due diligence report
supported by a data room. Once exclusivity is granted, they try to to
perform top-up due diligence to assist the completion of the deal.
Valuation
A valuation is the process of determining the current worth of an asset or
company. There are many techniques that can be used to determine value,
some are subjective and others are objective. Valuation practice helps
businesses successfully measure and realize the value of their assets in
todays ever-changing business landscape and rigorous regulatory
environment by providing independent, reasoned and well-supported
valuations.
Deloitte improves corporate and capital management decisions, in both
deal and non-deal environments, by applying a "value lens" that
quantifies shareholder value impacts. The responsibilities include
18
understand the requirements associated with the development of value
conclusions under tax and regulatory rules that allow businesses to
understand the value of an entity, asset, or liability so they can make
informed business and investment decisions.
Forensic
The world is witnessing increasing incidences of business misdemeanors
such as fraud, conflicts of interest, corporate code of conduct violations,
regulatory non-compliance, and others. This calls for effective monitoring
both by regulators as well as corporates. Indeed, the rising cost of fraud is
impressive - the typical organization loses an estimate of 5% of their
annual revenues to fraud. (Source: ACFE 2014 Global Fraud Study)
19
If
Restructuring
Restructuring is a significant modification made to the debt, operations or
structure of a company. This type of corporate action is usually made
when there are significant problems in a company, which are causing
some form of financial harm and putting the overall business in jeopardy.
The hope is that through restructuring, a company can eliminate financial
harm
and
improve
the
business.
20
interested parties in both in-court and out-of-court reorganizations. With
strong experience in nearly every major industry and extensive service
capabilities, they serve the complex needs of the clients. Years of
experience in transaction based, complex restructurings provides the basis
to ask the appropriate questions and prioritize work in a way that enables
each professional to deliver meaningful answers for a specific company,
its lenders and other stakeholders.
Tax
In general, tax can be defined as a levy or other type of a financial charge
or fee imposed by state or central governments on legal entities or
individuals. Local authorities like local governments, provincial
governments, counties and municipal corporations also have the right to
impose taxes. The rates, rules, and regulations of taxation differ from one
country to another and they are complex in character. Tax is a principal
source of revenue for a countrys government.
Those who are experts in tax law, planning and compliance provide tax
consultancy services. They serve businesses and individuals alike by
staying current on new tax law and positioning taxpayers for short and
long term tax optimization. A tax consultant typically expands on the role
of tax preparer. While tax consultants prepare tax returns, they also often
work closely with clients throughout the year to ensure client tax liability
is
Business Tax
Cross Border Tax
Global Employer Services
21
Indirect Tax
Base Erotion and Profit Shifting
Union Budget 2016
Business Tax
Indian companies are taxable in India on their worldwide income.
Foreign companies are taxable on income that arises out of their Indian
operations, or, in certain cases, income that is deemed to arise in India.
Royalty, interest, gains from sale of capital assets located in India
(including gains from sale of shares in an Indian company), dividends
from Indian companies and fees for technical services are all treated as
income arising in India.
Different types of corporate tax in India include:
Minimum Alternative Tax (MAT)
Compulsory under section 115JA of the Income Tax Act
Fringe Benefit Tax (FBT)
Contained in Chapter XIIH (Sections 115W to 115WL) of the
22
with the companys operations and integrated with the overall business
plan.
The various services provided are:
Legal services
Deloitte brings a strong combination of tax and legal knowledge to
provide clients comprehensive guidance across a broad range of
critical business issues. Deloitte employs a global, systematic
approach to enable clients to integrate legal considerations into their
strategy early in the process, thus better anticipating legal risks and
minimizing the potential disruption of business operations.
23
qualifying costs is considered and provide more transparency and
ensure compliance with regulatory changes through the application of
global technology solutions and deep tax technical expertise
worldwide.
24
Deloitte professionals advise companies on a broad range of inbound and
outbound tax issues, including structuring initial overseas investments,
financing international operations, cross-border transactions, management
of the global effective tax rate and business re-structuring.
The services include:
Transfer pricing
Transfer pricing is the setting of the price for goods and services sold
between controlled (or related) legal entities within an enterprise.
25
Deloittes globally-managed transfer pricing team helps companies
reduce risks by aligning practical transfer pricing solutions with overall
global business operations and objectives, assists with strategic
documentation to support transfer pricing practices, and resolves disputes
efficiently.
Global Employer Services
As companies grow and become more global in scope, employment
issues become more complex. Among the most serious challenges
businesses face today is compliance with multifaceted tax laws and
labour regulations. Deloitte offers well-rounded plans and program
development strategies that can help transform global employment
programs in a tax- and cost-efficient manner.
The services include:
26
Organizations seek to design and operate compensation and benefit
programs in a cost-effective, tax efficient and compliant manner for the
employer as well as employees. Deloitte professionals help align
compensation and benefits programs with a companys overall talent and
corporate strategies, and the marketplace needs, We help address a
complex array of tax matters at various stages of a companys lifecycle,
including mergers, acquisitions, divestitures, right-sizing, and general
restructuring. Beyond compliance, our integrated team of specialists can
help explore opportunities to transform global employment programs,
such as, discerning the total rewards that critical employees want and
need; identifying incentives for employees to successfully carry out
company business and talent plans; and exploring ideas that provide a
cost-efficient return on investment (ROI).
27
diverse
workforce.
Deloitte
professionals
help
multinational
They
offer
services
that
support
the
design
and
Technology
Technology provides the efficiencies, controls, and business intelligence
that allow our clients to raise service levels to their assignees, vendors,
and management. Deloitte is a recognized leader in the design,
development, and implementation of innovative expatriate services
technology that can significantly streamline program administration and
leverage international employee data. Mant companies have been helped
in integrating technology into their international assignment programs
and become e-enabled. Our web-based tools can enhance customer
service, speed transactions, and monitor quality and accountability.
Through our next generation Global Advantage Portal, users can access
our tools and customize their experience with interactive, dynamic
functionality.
Indirect Tax
Indirect tax is a type of tax where the incidence and impact of taxation
does not fall on the same entity. Such a charge is levied by the State on
consumption, expenditure, privilege, or right but not on income or
28
property. Customs duties levied on imports, excise duties on production,
sales tax or value added tax (VAT) at some stage in productiondistribution process, are examples of indirect taxes because they are not
levied directly on the income of the consumer or earner.
Services are:
29
VAT, GST, Sales & Use and other similar taxes are broadly based on
transactions, and liability will arise regardless of profitability. Because
most countries impose these taxes, most transactions are affected.
Deloitte can help with timely planning and the application of technologybased compliance management solutions. This can help clients reduce
costs, minimize risk and at the same time increase confidence that
nothing has been missed. Deloitte has a worldwide network of
professionals who provide advisory services and a full spectrum of highly
efficient outsourcing and co-sourcing solutions.
30
global nature of modern trading and business models. In particular, a
perception that existing rules give businesses too much opportunity for
arbitraging tax rates and regimes. The final BEPS reports were released
on October 5 and ratified by G-20 finance ministers at their meeting in
Lima, Peru, on October 8.
Consulting
A consultant is an experienced individual that is trained to analyze and
advise a client in order to help the client make the best possible choices.
A strategic consultant may evaluate a business plan and help the client
develop a plan to meet those strategic goals. For example, a client
concerned with government regulations and risk mitigation may engage a
discovery or regulatory compliance consultant.
Services provided by Deloitte:
Human Capital
Strategy & Operations
Enterprise Applications
Technology Integration
Human Capital
31
HR transformation
Over the years, HR organizations have made significant progress in
reducing costs and improving operating effectiveness through HR system
and process improvements, shared services, outsourcing and employee
self-service. Over the years, HR organizations have made significant
progress in reducing costs and improving operating effectiveness through
HR system and process improvements, shared services, outsourcing and
employee self-service. But thats just a part of it. The next big step for HR
32
is to help the business achieve its strategic objectives for performance and
growth, which involves leveraging operational improvements to support
and align with the broader business strategy. The business-driven HR
services adds up to the kind of HR Transformation business executives
want today the kind that delivers more value.
Rewards Program
In the face of globalization and growing government regulations,
employees today expect increasingly customized compensation, health
care, benefits and rewards programs from their organizations. The service
focuses on critical workforce segments and how they deliver business
results. It is important to have a team that can help navigate the path
forward among the many challenges changing expectations,
regulations, tax, new technology, and pressures on cost of delivery.
Whether youre a purchaser, provider or administrator of total rewards
programs, we have the range of design, delivery and performance
improvement experience to help you in your efforts to make the right
decisions.
Leadership development
A leadership development strategy has one goal: to provide a continuous
flow of people who are prepared to execute the business strategy and
create new business futures. They help understanding that these people
who are and can carry out the strategies? Where and when will you need
them? And how can you help them gather experiences that will help
demonstrate their resilience, hone their skills and extend their networks?
33
has developed the Organization Strategies method. It addresses five
critical subject areas - Organization assessment; Organization design, job
design and workforce transition; Decision rights; Shared vision and goal
alignment; and Globalizing work. By addressing these areas from the
outset, our Organization Strategies team provides an integrated, targeted
and consistent approach to solving organization transformation
challenges.
The
collectively
define
bigger
purpose,
the operations for that particular organisation. The more effective these
processes or operations would be, the more productive and profitable the
business would be.
Executable strategy requires fusing insightful thinking with disciplined
execution to achieve breakthrough performance. Today, senior executives
grapple with attaining profitable growth, strategically managing costs and
34
intelligently navigating risk. Such challenges require more than
identifying new possibilities and making tough choices. They also require
bridging the gap between vision and execution.
Corporate strategy
Corporate Strategy is the overall scope and direction of a corporation
and the way in which its various business operations work together to
achieve particular goals. Deloitte help business units address strategic
challenges they face in their industries by providing assistance in
creating options for generating value and mitigating risks; identifying
new potential opportunities for innovation and growth; conducting
market assessment and developing business plans.
Performance improvement
Good decisions require good information. Companies today are
drowning in data that is not necessarily relevant to the decisions that
must be made. And all too often, different data sources produce
conflicting results, so decision-makers dont know which numbers to
believe. An integrated approach to reporting and performance
35
management requires a broad business perspective. They have access
to in-depth experience across the entire business spectrum, from
finance and accounting to strategy, operations, technology and risk
management.
Sustainability
As sustainability is in varying stages of maturity in an environment of
regulatory uncertainty, many organizations have a difficult time
knowing whether theyre on track or falling behind. They offer
services designed to help companies in their efforts to gauge progress
and build a sustainability and corporate responsibility strategy that
makes effective use of resources already in place. Its an approach
designed to help organizations better position themselves to be more
competitive and innovative and to generate real results.
Outsourcing
36
Outsourcing is an arrangement in which one company provides
services for another company that could also be or usually have been
provided in-house. Outsourcing is a trend that is becoming more
common in information technology and other industries for services
that have usually been regarded as intrinsic to managing a business.
In some cases, the entire information management of a company is
outsourced, including planning and business analysis as well as the
installation, management, and servicing of the network and
workstations.
Outsourcing is on the rise, and not just in common areas like finance,
HR and IT. Organizations need to begin with smart, strategic choices
about which functions to outsource, if any. Deloitte helps addressing
questions such as: Should you outsource? What functions should you
outsource? How do you find and engage an outsourcing partner? How
do you manage the relationship? Is your current relationship
effective?
Addressing these questions can significantly accelerate outsourcing
projects while managing risk and increasing value and their
experience in developing and maintaining cross-border relationships
can help deliver the potential cost savings that can make offshore
outsourcing attractive.
Enterprise Applications
An enterprise application is the phrase used to describe applications (or
software) that a business would use to assist the organization in solving
enterprise problems. They are typically designed to interface or integrate
with other enterprise applications used within the organization, and to be
deployed across a variety of networks (Internet, Intranet and corporate
networks)
while
meeting
administration management.
strict
requirements
for
security
and
37
ERP Advisory
Enterprise resource planning (ERP) is business process management
software that allows an organization to use a system of integrated
applications to manage the business and automate many back office
functions related to technology, services and human resources. ERP
software integrates all facets of an operation, including product
planning, development, manufacturing, sales and marketing.
End to end ERP implementation is a complex process. While
technology is an important aspect of it, there are various other aspects
which need to be critically looked at and intense due diligence needs
to be performed. These include business process optimization, change
management of the user community and overall business readiness to
accept the change of the primary business system that runs the core
business processes. The EA practice provides advisory services to our
clients to help them prepare for these.
Typically, the ERP Advisory services span across the following:
1. Business case and strategy
38
to structure the business case and ERP strategy and help them become
aware of the cost and benefits of such undertaking.
2. ERP readiness assessment
Essentially being packaged business software, the ERPs bring in prepackaged best practice with it. However, the clients business process
may not be fully optimized yet to accept the best practices, hence they
assist clients to assess their readiness prior to ERP implementation.
3. Package selection
Many a time, a client would need advice on which ERP package would
suit him the best. In such a case, the EA practice uses a structured
methodology to assist our client run a detailed packaged selection
exercise and helps him take the best decision.
Program Management
Sometimes, the clients want us to manage the program management
office while other firm does the end to end implementation. Deloitte
39
thus gets the first chair at ERP implementation and provides us a
platform to network with the clients senior people critical for future
opportunities and long term relationship with the client. From a firm
perspective, the EA practice owns relationship. This practice is also
well connected and networked with the Deloittes global SAP and
Oracle Alliances.
Technology Integration
In an increasingly wired world, with paradigm shifts happening in the
area of information and communication technologies, the focus of the
group is to map out how clients in both the private and public sector, can
leverage such technologies to solve business transformation by offering
services in Technology Strategy, Information Management, Business
Integration and Optimization and Systems Integration.
Technology strategy
Technology strategy is the overall plan which consist of objective(s),
principles and tactics relating to use of the technologies within a
particular organization. Such strategies primarily focus on the
technologies themselves and in some cases the people who directly
manage those technologies. The strategy can be implied from the
organization's behaviors towards technology decisions, and may be
written down in a document.
Other generations of technology-related strategies primarily focus on:
the efficiency of the company's spending on technology; how people,
for example the organization's customers and employees, exploit
technologies in ways that create value for the organization; on the full
integration of technology-related decisions with the company's
strategies and operating plans, such that no separate technology
strategy exists other than the de facto strategic principle that the
organization does not need or have a discreet 'technology strategy'.
40
Information Management
Information management (IM) concerns a cycle of organisational
activity: the acquisition of information from one or more sources, the
custodianship and the distribution of that information to those who
need it, and its ultimate disposition through archiving or deletion.
This cycle of organisational involvement with information involves a
variety of stakeholders: for example those who are responsible for
assuring the quality, accessibility and utility of acquired information,
those who are responsible for its safe storage and disposal, and those
who need it for decision making. Stakeholders might have rights to
originate, change, distribute or delete information according to
organisational information management policies.
These days, the quality of your data can determine the success of your
most important business decisions. The companies that can access the
information they need, when they need it and trust its accuracy
have the upper hand where it counts. Companies today are creating
and capturing more information than ever before but that can make
their challenge harder, not easier. Deloittes information management
41
practice uses a fully integrated approach to help our clients in their
efforts to unlock the value buried deep in their data. They help clients
in leveraging information management to set up Performance
Management Frameworks to understand key performance indicators
and systems that monitor the metrics. In addition, such systems have a
strong focus on managing the budgeting, planning and consolidation
processes as a part of finance transformation. They have also helped
clients get a 360 view of the customers, so that they can market the
appropriate products and services through the right channels.
Increasingly, as clients move towards predictive analysis and try to
understand what can happen in the future such as, which of their
clients will yield maximum share of profit or who will churn out of
the system or what optimal pricing will yield greater penetration they
deliver the entire range of analytics that will help the clients shape
their strategy and processes through right decisions.
Systems Integration
42
43
stakeholders, including owners, employees, customers, regulators, and
society overall.
Its various divisions include:
portfolio of services
Deployment schedule for professionals will be formulated regionally
level
Senior Manager and Director performance evaluations will be done
ERS wide
The set of expectations from every partner, director or any other member
of the organisation include:
44
45
retain and target the region's RMR population and specific LAMI (largest
and most influential) accounts.
Relationship Management
Relationship management aims to create a partnership between the
organization and its audience rather than consider the relationship
merely transactional. Consumers who feel that a business responds to
their needs are more likely to continue using the products and services
that a business offers. Additionally, maintaining a level of
communication with consumers allows the business to identify
potential sources of costly problems before they come to a head.
C&M team at Deloitte has supported India Firms market coverage
and client penetration efforts through Relationship Management and
Business Origination across industries and functions as under:
Market penetration and expansion: generating potential leads in
the market place and assisting service lines with complete support
till final closure regular client interaction/ active fee and scope
negotiation
Managing expectations of both internal and external stakeholders
Strategic planning and execution: taking cross platform services
to clients to derive maximum mileage for them through our
valuation propositions across industry
Making sure opportunities are qualified and timely executed and
development from primarily an organic and farming for long term
program management perspective
Taking the firm to the client
Opportunity Management
Opportunity management (OM) has been defined as "a process to
identify business and community development opportunities that
could be implemented to sustain or improve the local economy."
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Opportunity Management is a collaborative approach for economic
and business development. The process focuses on tangible outcomes.
Opportunity Management may result in a more interesting, more
motivating project that can increase teamwork and provide
development opportunities valued by contributors.
Its three components are:
1. generating ideas,
2. recognizing opportunities, and
3. driving opportunities.
The team consists of pursuit strategist and designers - assisting all
functions of Deloitte to develop proposals and presentations. C&M
helps you to know partners know their client better, define unique
proposition for them, and connect you to leading pursuit practices to
win your clients.
Some highlights of our Pursuit Strategists capabilities are:
Research on clients to better by providing information on
business units, organization structure, opportunities, threats and
other vital indicators
Drive win themes and differentiators
Position Deloitte strategy in the competitive landscape
Develop client-centric proposals, presentations,
meeting
collateral requirements.
Clients-service assessment
By empowering us with actionable data, CSA is also a clear
demonstration of the organizations commitment to the client, to
achieve a higher level of service by responding to their needs and
priorities.
To understand our market is to know our future. The more rigor and
precision we can apply to understand our client needs, habits,
preferences, and goals, the better we can serve them.
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Deloittes Client Service Assessment (CSA) program helps teams
understand clients expectations, perceptions, dynamics, and the true
measure of the value they expect to deliver.
CSA is an integral part of the Deloitte global strategy that gauges the
strength of Deloittes overall relationship with the client and helps
identify trends across client portfolios. It enables them to consistently
and better address customer needs and expectations, maintain brand
reputation and facilitate long-term relationships with clients.
Client Intelligence
Client intelligence (CI) is information derived from customer data
that an organization collects from both internal and external sources.
The purpose of CI is to understand customer motivations better in
order to drive future growth. The application of business analytics to
customer data is sometimes called customer data mining.
C&M helps you with research on potential business prospects to
provide you a competitive edge. By collaborating with partners to go
to market with targeted research and analysis of specific business and
industries.
C&M Research team focuses on value-added contributions through a
mix of the following outputs:
Company Research
the
clients
business,
their
internal
operational
and
Industry Research
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Profiling
Executive profiles would entail individual profiles as well as
board and audit committee profiles of key personnel. Besides
building a background on a targeted contact, the profiles would
equip you with inputs on industry and board affiliations, that
could aid in developing more connects.
Talent
Talent acquisition is the process of finding and acquiring skilled human
labor for organizational needs and to meet any labor requirement. When
used in the context of the recruiting and HR profession, talent acquisition
usually refers to the talent acquisition department or team within the
Human Resources department.
Talent acquisition and recruiting are undergoing rapid disruption,
challenging companies to leverage social networks, aggressively market
their employment brand, and re-recruit employees every day. Companies
looking to recruit and acquire talent now compete on a new battlefield
shaped by global talent networks and social media and defined by
employment brands and changing views of careers. Sixty percent of
respondents to our global survey have already or are currently updating
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and revamping their talent sourcing strategy, and another 27% are
considering changes.
Faced with a scarcity of key skills and rapidly evolving talent demands,
companies that fail to adapt will likely be on the losing end when it
comes to attracting and accessing the people and skills they need.
Knowledge Management
According to a Global Deloitte survey, over 80% of Deloitte Knowledge
users indicate that sharing knowledge leads to competitive advantage and
adds a real client value.
Knowledge relates to all the capital owned by people and staff of a
company: know-how & expertise, competencies, market experiences etc.
Knowledge management helps companies turn this human capital into
intellectual capital by creating value. Unlike content management,
Knowledge Management (KM) is not only about storing documents. It is
about increasing people skills and expertise thanks to sharing.
Knowledge management enables people collaboration and connects them
to expertise. The ability to quickly find a subject matter expert and get the
answer to a question or assistance in solving a problem is a priority in
knowledge management. It prevents companies from constantly
reinventing the wheel, hence the decreasing supply of talent, the retiring
boomers, the staff turnover etc. It prevents staff from constantly
reinventing the wheel, provides a baseline for progress measurement,
reduces the burden on expert attrition, makes visual thinking tangible,
and manages effectively large volumes of information to help employees
serve their clients better and faster.
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Chapter 3
SCOT Analysis
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Strengths
1.
2.
3.
4.
3.2 Challenges
1. They have not yet penetrated completely in Asia Pacific region.
2. They are expert in financial and audit services limits them from
being strategy or general consultants.
3.3 Opportunities
1. Owing to the financial and audit expertise they could help in
Global financial services.
2. They could pursue more of mid-market businesses.
3.4 Threats
1. Stiff competition from existing industry players.
2. Fluctuations in currencies affect international projects.
3. Companies setting up their own knowledge centers.
KeyResultAreas:
Audit
Deloitte currently has the highest market share in auditing among
the top 500 companies in India. As leaders in Audit, Deloittes
professionals are committed to excellence and to enhancing the trust of
the investing public and capital markets. Quality is top priority, and by
focusing on innovation, they continue to raise the bar on quality and
deliver greater value to their clients. Their Auditors industrspecialists
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understand the dynamics of the clients industries and bring insight to
enhance the value of the services Deloitte deliver.
Deloitte Audit professionals provide independent financial statement and
internal control audits, in accordance with the latest professional
standards and with a focus on quality. Audits and reviews are planned to
assess and identify possible riskwhether the risk of a material
misstatement or a risk in internal controls. Our professionals work closely
with our clients to encourage two-way communication and to minimize
surprises.
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Technology
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opportunities in the market before they become obvious. Experts
also call this process the early signal analysis.
This definition focuses attention on the difference between dissemination
of widely available factual information (such as market statistics,
financial reports, newspaper clippings) performed by functions such as
libraries and information centers, and competitive intelligence that is a
perspective on developments and events aimed at yielding a competitive
edge.
Though often viewed synonymous with competitor analysis, competitive
intelligence is more than analyzing competitorsit is about making the
organization more competitive relative to its entire environment and
stakeholders: customers, competitors, distributors, technologies, and
macroeconomic data.
Most of the value-added in manufacturing or product companies is
created by knowledge-based service activities such as research and
development, marketing research, product design, customer service,
advertising, or distribution. Winning firms are organizations that most
successfully master the business issues critical to their performance, and
develop the most precise understanding of definitions of value and
creation of value. Competitive advantage has a lot to do with leveraging
the knowledge assets of the firm, while at the same time determining how
competitors are likely to leverage theirs.
The goals of this explanation are many:
formulation
Show how competitive intelligence is used by firms to achieve
competitive advantage
Examine the process, the tools, and the output of CI
strategy
than
competitive
intelligence.
Competitive
55
intelligence is more concerned with doing the right thing, than doing the
thing right.
The goal of a competitor analysis is to develop a profile of the nature of
strategy changes each competitor might make, each competitor's possible
response to the range of likely strategic moves other firms could make,
and each competitor's likely reaction to industry changes and
environmental shifts that might take place. Competitive intelligence
should have a single-minded objective -- to develop the strategies and
tactics necessary to transfer market share profitably and consistently from
specific competitors to the company.
A firm, which does not rigorously monitor and analyze key competitors,
is poorly equipped to compose and deploy effective competitive strategy
and this approach leaves the firm and its markets vulnerable to attack.
The basis for CI revolves around decisions made by managers about the
positioning of a business to maximize the value of the capabilities that
distinguish it from its competitors. Failure to collect, analyze and act
upon competitive information in an organized fashion can lead to the
failure of the firm itself.
With the Research team at Clients, Markets & Industries at Deloitte India,
our responsibilities included to constantly monitor the market conditions
to study the trends across the various industries, specifically with regard
to our competitors. We were also given access to various information
portals, so that we could make use of in order to create a relevant
database in order to approach potential clients.
Apart from this, we were responsible for company profiling of the key
target clients by studying key industries. The companies assigned to us
were various companies across diverse sectors. We had to mine out key
details of the company, analyze and interpret the financial performance to
figure out if they could be approached to offer services in order to
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establish a relationship with the clients on the basis of the existing
Deloitte network.
Chapter4
PersonalExperience
57
Study and Strategy with financial advisory pertaining to Taxation, GES,
Finance Strategy & Planning, and Mergers & Acquisition Transactions of
European companies.
Workshops Attended
Taxation (Direct & Indirect)
Tax Planning & Strategy
GES (Global Employment Services), Financial Options
SEZ Strategy & Advisory
Deals (M&A) Processes
Global Transfer Pricing Processes
Finance Strategy
Events Organized
Deloitte Effective Whistle Blowing Mechanism, 28th April 2016
Deloitte TechFast 50 Event, 10th June 2016
Deloitte Global CFO Conclave, 17th June 2016
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Financial Statement Analysis
Strategic Solution Making
Client Acquisition
Product Pitch
Event Management
Professional/Business Communication
Chapter 5
Conclusion
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Advisory & Consulting business as companies today are on the lookout
for various strategies and plans that can help them maximize their wealth
and profit simultaneously, which is what Deloitte is known to offer.
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