2024 Global Impact Report
Business
The pace of change and disruption keeps accelerating—from the rapid adoption of GenAI and other breakthrough technologies to the complexities of the climate crisis and continuing shifts in the economic and geopolitical landscape. As organizations around the world seek to navigate this volatility, many are challenged to change and transform the ways they do business to stay agile and competitive.
In this dynamic environment, Deloitte works with clients to build trust and confidence in business and markets, turn deep insights into strategic action, responsibly create and protect value, and deliver innovative services and solutions for the critical opportunities and challenges organizations face.
Shaping sustainable growth and climate-led transformation
The climate crisis and sustainability challenges the world faces are urgent, defining topics for business leaders—and navigating this complex landscape requires sophisticated solutions that bring together business acumen and technological innovation. Deloitte Sustainability works with organizations across industries and regions to help drive meaningful advances in their climate-led transformations. We assist clients as they embed sustainability into their strategies and operations, develop new sustainable products and services, re-engineer their supply chains, consider tax implications, measure and report on their progress, and manage evolving sustainability regulation requirements. Deloitte has been recognized as a leader in the Verdantix ESG & Sustainability Consulting Green Quadrant 2024.
Over the past several years, Deloitte teams have helped thousands of clients set and accelerate toward their net-zero and sustainability goals. We deliver a broad range of sustainability services that help clients move beyond compliance to transform their organizations and realize sustainable growth using Deloitte’s GreenSuite technology. Through GreenSuite, which includes GreenLight Solution and GreenSpace Tech, organizations have the ability to track progress in real time against decarbonization targets and develop actionable pathways, the means to engage with ecosystems and alliances in a collaborative space, and tools and resources to help them navigate a complex array of sustainability and climate regulations. In addition, we collaborate across ecosystems to drive tangible impact in the market and help realize a clean energy future. Deloitte’s Global Hydrogen Center of Excellence supports clients in scaling up low-carbon hydrogen and driving large-scale decarbonization.
Accelerating GenAI solutions and digital transformation
GenAI has captured the popular imagination—and in just one year, we have seen booming adoption and development of GenAI applications across business, government, and society. Yet Deloitte's State of Generative AI in the Enterprise report found that while almost 80% of business leaders globally expect GenAI to drive substantial transformation within their organizations and industries over the next three years, only 8% feel “very highly” prepared for its integration into their business strategy.
Deloitte practitioners bring together deep technical knowledge and business acumen to help organizations bridge that gap. We are harnessing the potential of GenAI to drive tangible benefits and value creation for companies across industries, helping to turn their ambitions into reality by scaling up GenAI deployments beyond pilots and proofs of concept. Deloitte’s global GenAI incubator network helps enable clients to experiment with GenAI tools—then develop, deploy, and scale GenAI solutions within their organizations. Over the past year, Deloitte has helped clients deliver more than 700 projects to provide process efficiency, cost reduction, elevated customer experience, and greater value in the form of new insights, faster innovation, and accelerated growth. We work with Deloitte’s alliance and technology collaborators across our GenAI engagements, and Deloitte employs its Trustworthy AI™ framework to help manage GenAI-related trust and safety risks, as part of how we consider trustworthy ethics in everything we do.
We recognize that AI computing’s large energy footprint is a challenge that is widely acknowledged across industries. Although advancements in energy-efficient processors, chips, hardware, and software are being developed, along with innovations in cooling technology and energy grid management, Deloitte believes that business leaders deploying AI use cases in their organizations should understand the energy consumption requirements and be intentional about how AI can help accelerate business outcomes, while at the same time not impeding our collective path to net-zero. Deloitte is committed to a sustainable future and is working with clients and the broader technology ecosystem to advise on and implement strategies on the energy mix, efficiency of AI data centers, and optimal GPU usage.
In a world where technology underpins almost everything, Deloitte draws on its strong ecosystem of alliances and technology relationships with many of the world’s leading technology providers, as well as emerging and innovative tech companies, to guide clients through these times of change. These relationships are vital to help address some of Deloitte clients’ and society’s most complex challenges. Deloitte’s GenAI incubator network works directly with Deloitte’s alliance and technology relationships, including leading enterprise software, hardware, and cloud vendors.
Deeper look: Using GenAI to deliver an enhanced digital customer experience
As a dedicated online brokerage, Rakuten Securities understands the importance of delivering an outstanding digital experience to its customers across Japan. The company’s leaders recognized that emerging technologies could help Rakuten Securities provide a more innovative, human approach, particularly given GenAI’s ability to leverage large language models and essentially “speak” a human language.
Embedding continuous advantage
Times of disruption can create operational challenges, from expanding adoption of digitalization to evolving regulatory requirements, to the need for increasingly specialized skill sets. Deloitte practitioners work with organizations to design, build, and run their critical business functions through Deloitte’s Operate services and our global delivery center network. Through Deloitte’s deep industry knowledge, leading-edge technology, automation, and data insights, Deloitte helps clients increase operational efficiency and agility, add value, and embed continuous advantage into their operations.
Over the past year, Deloitte continued to expand its Operate services with new industry-specific solutions. For example, Operate’s Future of Travel service is designed to make travel more seamless and secure by modernizing the enterprise systems and operational processes that facilitate travel with digital issuance and arrival solutions—unlocking a future where passengers can secure necessary travel documents and complete their journeys more swiftly and smoothly. The Software-Defined Vehicles end-to-end platform helps manufacturers to send secure updates, accelerate time to market, and integrate third-party applications, while reducing manual inputs. Operate teams are also incorporating new and emerging industry disruptions, such as GenAI. Deloitte’s AI Factory as a Service helps enterprises unlock value from this new technology in a rapid, scaled, and cost-effective manner across multiple industries and businesses.
Deeper look: Providing enhanced cyber resiliency through Deloitte’s Operate services
When Dhanani Group, a large US food services company with hundreds of locations, sought a recipe for enhanced cyber resiliency, the company turned to Deloitte. Dhanani Group wanted a solution that would help detect potential cyber attacks and support business continuity amid ongoing cyber threats—and do it in a way that did not require the company to invest heavily in internal cyber capabilities and tools. Instead, an “always-on” turnkey solution—continuously managed by an experienced services provider—sounded ideal.
Building trust in corporate reporting
As a leader in quality, Deloitte Audit & Assurance (A&A) is committed to our vital role in building trust and confidence in corporate reporting ecosystems—upholding integrity, independence, and transparency across 180,000+ engagements worldwide over the past year. Through our independent assessment of an organization’s financial and non-financial statements and controls, Deloitte instills confidence that an organization’s corporate reporting is an appropriate reflection of its impact to society and a sustainable environment, the risks and opportunities of its business model, and its financial performance, position, and prospects. As the evolution from traditional financial reporting to broader corporate reporting continues, Deloitte is helping companies ready themselves for new or enhanced disclosure requirements and engaging stakeholders in meaningful, transparent conversations.
Over the past year, Deloitte A&A has made significant progress on transforming how we deliver our services through our innovative platforms, Deloitte Omnia and Deloitte Levvia, including developing additional GenAI-enabled capabilities and solutions. Deloitte has won multiple awards recognizing leadership in technology innovation, including the AI Innovation Initiative of the Year at the 2024 International Accounting Forum and Awards, Top Excellence Award at the 2024 Malaysian Institute of Accountants’ Digital Technology Adoption Awards, and selection as the Top Finalist for the Digital Innovation of the Year award at The International Accounting Forum & Awards 2023.
Deeper look: Digitizing the patient experience
How closely do patients read the printed information provided with their medicines? Data from the US and UK suggests that many people who take medicine don’t read the patient information leaflets (PILs) that come with their medication. Those that do can find it hard to understand or want more information.
Navigating ongoing evolution
Taxation continues to be used as a valuable tool to address major societal concerns, from climate change initiatives to inflation control measures, while the emergence of new business models, particularly those leveraging GenAI, emphasizes the need for a dynamic tax function. Deloitte’s Tax practices have remained at the forefront of these changes, advising clients as they traverse the rapidly evolving business, regulatory, and economic landscape. The implementation of the Organisation for Economic Co-operation and Development’s two-pillar approach to tax challenges catapulted tax up the corporate board agenda, making it a regular part of C-suite conversations as adaptation and action are required. Deloitte’s Pillar Two services and technology are helping clients with impact assessment and response, provisioning, compliance, and reporting. We are continuing to innovate with our Intela tax technology platform, which delivers an integrated tech ecosystem for tax work planning, management, data collection, analysis, and transformation. In addition, we have advised Deloitte clients on the potential tax implications of AI, along with the rapid emergence of GenAI, and provided AI-powered tools that automate processes, expedite response times, and enhance accuracy.
During the past year, Deloitte continued to provide comprehensive Operate services, including implementation, and where permissible outsourcing, including a focus on addressing emerging e-invoicing and e-reporting requirements mandated globally. Deloitte teams help clients with their continuous compliance and operational efficiency through seamless integration of business systems and processes. Deloitte also enhanced its Global Employer Services (GES) and Mobility offerings, helping organizations manage complex global workforce challenges, cross-border tax compliance, and remote working policies amid market turbulence. In addition, Deloitte’s new alliance with Payslip offers clients a comprehensive global payroll solution in an integrated Payroll Operate offering across GES and Business Process Solutions using advanced technology integration capabilities.
As general counsels increasingly become hybrid business and legal advisors, Deloitte Legal1 stands committed to guiding clients through these complex responsibilities, providing strategic insight and legal solutions across M&A, people law, contracts, data privacy, ESG management, tax regulations, cybersecurity, and more. Deloitte Legal’s continuous efforts to respond to escalating regulatory, business model, and environmental changes have been instrumental in transforming the operating models of Deloitte clients’ legal departments. As digital transformation becomes ever more pivotal to business strategy, Deloitte Legal practitioners continue to guide businesses in integrating legal considerations into core business operations—enhancing the accuracy and speed of processes, realizing efficiencies, mitigating legal risk, and uncovering new insights using advanced analytics.
- For legal, regulatory, and other reasons, not all member firms, their affiliates, or their related entities provide legal services or are associated with Deloitte Legal practices. ↵
Creating and protecting value in a changing environment
Our Consulting services: Strategy, Risk & Transactions and Technology & Transformation provide a full suite of solutions to help empower organizations to thrive in a complex and constantly shifting environment, from creating and protecting value, to managing and mitigating risk, to advancing their transformation through strategic advice and technology solutions.
Deloitte Strategy, Risk & Transactions (SR&T) practitioners act as trusted C-Suite and board advisors, equipping clients to create and protect value, manage risk, and support compliance for the benefit of business, society, and the global economy. Over the past year, our end-to-end M&A practice advised companies on driving growth, rebalancing portfolios, building resilience, and developing new or deeper capabilities in sustainability and AI. Deloitte’s Strategy and Business Design practices provided insights and impartial economic analysis and research; quantified economic and social impacts of net-zero targets and iconic global sporting events; supported decisions to deliver social and economic objectives; and developed the first-of-its-kind clean hydrogen energy model, which will be instrumental as countries continue to transition energy sources.
Through our SR&T services, Deloitte practitioners helped organizations build trust, resilience, and security for enduring success. Deloitte has combined its Risk and Regulatory consultancy with the latest technologies and tailored strategies in areas such as sustainability, strategy, policy, regulation, compliance, and controls, to enable clients to remain resilient in the face of complex challenges. Deloitte’s Risk, Regulatory, and Forensic practices worked with public and private sector organizations to help address global financial crime; navigate fraud, waste, and abuse matters; and manage large-scale litigations and regulatory responses with proprietary AI solutions. Deloitte also continued to grow its Financial Crime Operate capabilities to drive solutions in areas such as fraud, technology, and insurance.
Advancing clients’ transformation journeys
In a world of exponential change, organizations turn to Deloitte Technology & Transformation practitioners to deliver exponential impact to advance their transformations. Deloitte continues to invest in future-facing capabilities—including GenAI—to power its strategic advice and technology solutions and help clients navigate the future. Drawing on the breadth of our market-leading multidisciplinary capabilities, Deloitte co-innovates with clients at each stage of their transformation journey, tailoring our services to the outcomes they seek.
Over the past year, we introduced Deloitte Ascend™, our leading-edge delivery platform. By integrating industry experience with innovative technologies, Deloitte is transforming our packaged-technology clients’ user experience with a consistent best-in-class approach, reduced project timelines, and real-time data insights. In addition, Deloitte US launched the Center for Controllership, a research, resource, and collaboration center designed to guide clients through the changing role of the controller. In today's rapidly evolving digital landscape, organizations need a robust cybersecurity strategy that not only addresses the complexity of modern threats but also supports key business objectives. Through an updated Global Cyber Strategy, Deloitte has formed strategic relationships with top technology providers, including the introduction of ConvergeSECURITY in collaboration with Amazon Web Services and the introduction of a CyberSphere offering with NVIDIA Morpheus, all aimed at delivering enhanced value to Deloitte clients.