Mumbai: The demand is evident; with two-thirds of over 1,400 global CEOs believing their businesses face more threats today than three years ago and over half concerned about their readiness to respond to a crisis¹, PwC has launched the Global Crisis Centre to help organisations prepare for, respond to, and recover from crisis.
Crises are becoming more frequent and their impact more significant and widespread – for example, economic losses from cybercrime in 2014 were estimated at US$375 billion and insured and uninsured losses from natural catastrophes in the same year at US$194 billion.²
Deepankar Sanwalka, Advisory Leader, PwC India, said, “Studies have shown a correlation between impact on shareholder value and perception of ‘management’s ability to deal with the aftermath of a crisis. Those companies that are adequately prepared for crises are able to more proactively minimize the impact of a crisis and respond more quickly, creating a distinct competitor advantage.”
As an international virtual centre of excellence, PwC’s Global Crisis Centre convenes battle-hardened crisis professionals from across our worldwide network of member firms in 157 countries. This team of PwC specialists can quickly access and mobilise the best skills, experience and knowledge to help organisations handle the crises they face - from providing crisis strategies through to execution, to providing capabilities and tools to avoid crises, mitigate risk and manage impact, through to organising, analysing and resolving crises as quickly as possible.
Whether it’s a natural disaster such as the devastating earthquake in Nepal last year, a cyber-attack or a healthcare crisis, a financial collapse or a product recall, regulatory violations or brand and reputational attacks - whatever and whenever a crisis occurs, “business as usual” becomes a thing of the past.
Dinesh Anand, Leader Forensic Services, PwC India, said, “Today, more businesses than ever are concerned about the threats their organisations face, and their ability to respond. We at PwC's Global Crisis Centre work with our clients to build holistic crisis capabilities. Equipping them with the strategy, process, tools and technology needed to help them handle the crises they face”
Corporate India also faces an increasing onslaught of organisational threats and crises. The impact of a crisis has significant consequences, often resulting in serious effects on company operations, brand, financial stability, growth prospects and morale. As India continues to evolve into a major economic power, PwC’s GCC will be able to guide and support its clients through the crisis preparation and response by pulling together the best crisis expertise from across the firm's global network. PwC India has experienced professionals who are crisis-trained, are backed up by cutting-edge technology and can be deployed rapidly to help organisations in such situations.
Notes to Editors:
¹According to PwC’s 19th Annual Global CEO Survey
² Source: Swiss Re; McAfee; CSIS
A ‘crisis’ may be defined as when one or more triggers or stress events significantly impact or threaten the continuity of ‘business as usual’. Seven core types of crisis have been identified - financial, legal, technological/intellectual, operational, human capital, global and reputational.
PwC’s Global Crisis Centre provide a coordinated end-to-end set of global solutions that help organisations before, during, and after crises strike.
Prepare: risk management and crisis planning services
We help them prepare for crisis by giving them the strategies, capabilities and tools to avoid it, mitigate it, or manage it.
Respond: crisis response services
We enable businesses to react to a crisis quickly and effectively. We help them organise, analyse, and resolve crises as efficiently as possible, while taking the critical steps to preserve valuable data and information.
Recover: recovery & remediation services
We help our clients emerge from the crisis stronger than they were before by getting back to business, learning from the experience, and capitalising on the “new normal”.
For more details of PwC’s Global Crisis Centre, visit: www.pwc.com/crisis
About the Global Crisis Centre
For the Global Crisis Centre, trust and problem-solving are central to what we do.
By helping organisations prepare for, respond to and recover from crisis, we stay true to this purpose. Standing by clients gives them confidence that they have somebody by their side to help them confront the crisis and solve the problems they face. In turn, they can reassure their own clients, communities and stakeholders that they are able to manage crisis effectively.
Getting ready for and reacting effectively to crisis helps them to emerge stronger. That builds trust in the systems that are critical to society.
At PwC, our purpose is to build trust in society and solve important problems. We’re a network of firms in 157 countries with more than 223,000 people who are committed to delivering quality in assurance, advisory and tax services. Find out more and tell us what matters to you by visiting us at www.pwc.com.
In India, PwC has offices in these cities: Ahmedabad, Bangalore, Chennai, Delhi NCR, Hyderabad, Kolkata, Mumbai and Pune. For more information about PwC India's service offerings, visit www.pwc.com/in
PwC refers to the PwC International network and/or one or more of its member firms, each of which is a separate, independent and distinct legal entity. Please see www.pwc.com/structure for further details.
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