Rotterdam, July 14, 2021
Although the global and Dutch economies have been significantly impacted by the COVID-19 crisis, we see a stronger than expected recovery. The wave of technological and digital investments by our clients will continue in the next years and is a positive driver for our business. Therefore, we feel we are well positioned for again a solid financial performance in 2021/2022, except for a possible macro-economic downturn in the medium term.
Given the uncertainties and the speed of change, we are updating our financial plans on a quarterly basis. In combination with our focus on liquidity, cost control and workforce management, we are well equipped to quickly respond to developments. A priority for the coming period is further enhancing our longer term strategic planning across all the key dimensions of our business model. This is even more relevant as we will continue to internationalise our business and invest in new business models such as i) digital platforms for our Audit and Tax business, ii) MDM growth platforms, (iii) assets and (iv) managed services. This will have significant impact our whole operating model. The most important investment area is our cross business sustainability practice.
Investments in the coming year have been further prioritised to focus on what is strategically necessary or business critical, combined with investments in service offerings that are expected to generate business growth. Investments are also aligned with Global and NSE priorities.
We will proceed with our strategy execution, putting purpose at the heart of what we do. We will do so both in our Audit and our Advisory businesses. We will continue to actively participate in the public debate on the future of audit, defending and strengthening our societal license to operate.
We will proceed with our strategy execution, putting purpose at the heart of what we do.
Last financial year, the global Deloitte SAP S/4Hana® solution was implemented and it will be further optimised in the coming year. A major change is the start of the use of Global Finance Services (GFS) with innovative end-to-end business solutions. The globalisation of the business has triggered an increased global shift in IT to deploy technology assets and global business platforms in all Deloitte member firms.
On our talent front we see that current demand is high, and recruitment and our employee value proposition remain top priorities. We grow our organisation whilst not compromising utilisation with the exception of our investment areas. We expect all businesses to grow next year. Our operating expenses will also increase as a consequence of our increased workforce and our investments in learning and innovation.
Chief Executive Officer
Chairman of the Executive Board
Chief Quality Officer
Chief Operations Officer