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Deloitte is a multinational professional services company based in London, UK. William Welch Deloitte founded Deloitte in 1845 in London and expanded into the US in 1890. In 1972, Deloitte in the UK merged with Haskins & Sells to form Deloitte Haskins & Sells. Its sister company in the US joined forces with Touche Ross in 1989 to create Deloitte & Touche. Deloitte expanded globally and cemented its place as one of the Big Four accounting firms. In September 2023, Deloitte employed 457,000 people and served nearly 90% of the Fortune Global 500 firms. [1]
Deloitte offers audit and assurance, financial advisory, tax, legal, consulting, and risk advisory services in over 150 countries. Consulting is its top revenue generator, contributing over 40% of its earnings annually. This business segment focuses on strategy, analytics and M&A, marketing, business operations, human capital, and enterprise technology.
In August 2023, Deloitte expanded its partnership with NVIDIA. The company will use NVIDIA’s AI technology to build generative AI solutions for enterprise software platforms. Innovative firms like Microsoft, Boeing, Morgan Stanley, Berkshire Hathaway, and GM use Deloitte’s services. However, the company faces stiff competition from Accenture, IBM, SAP, KPMG, Wipro, Cognizant, PwC, TCS, EY, Tech Mahindra, and Capgemini. [2]
Here is an in-depth analysis of Deloitte’s top competitors and alternatives:
1. Accenture
Year founded: 1989
Headquarter: Dublin, Ireland
Accenture is a world-leading professional services company with 738,000 employees in over 120 countries. The firm offers operational strategy, consulting, and interactive technology. In July 2023, Accenture laid off 890 employees in Ireland and plans to reduce its workforce by 2.5% further. [3]
Accenture helps businesses, governments, and non-profit organizations digitize and optimize operations. In June 2023, the company acquired AWS Premier Partner Nextira to provide cloud-native innovation, predictive analytics, and immersive experiences. This acquisition expands Accenture’s engineering capabilities in AI and machine learning, making it the top Deloitte competitor and alternative in IT consulting. [4]
2. IBM Consulting
Year founded: 1991
Headquarter: Armonk, New York
IBM Consulting is a global technology advisory arm of IBM. The company specializes in IT consulting and implementation practice. In 2021, the firm rebranded from IBM Global Business Services to IBM Consulting. IBM has around 350,000 employees.
IBM Consulting helps governments, companies, non-profits, and NGOs adopt technologies. In August 2023, the company expanded its collaboration with Microsoft to bolster its line of AI solutions. The partnership will deliver a new IBM Consulting Azure OpenAI service to help businesses maximize AI benefits. IBM Consulting is one of the top competitors for Deloitte. [5]
3. SAP
Year founded: 1972
Headquarter: Walldorf, Germany
SAP is a multinational software corporation with a comprehensive product portfolio. The company offers SAP Application Management to help organizations launch, migrate, and maintain IT assets. In 2022, SAP had over 111,961 employees in over 180 countries.
SAP provides cloud-engineered systems, database solutions, and enterprise software like CRM, ERP, and HCM. Organizations can use SAP Application Management to access SAP expertise, cut costs, improve scalability and security, and leverage innovative capabilities. This solution ensures businesses get the most value from their SAP investments. SAP is one of the top competitors for Deloitte. [6]
4. KPMG
Year founded: 1987
Headquarter: Amstelveen, Netherlands
KPMG is a multinational professional services company with 265,000 employees worldwide. In June 2023, KPMG laid off 5% of its US workforce. The company employed over 39,000 people in the US in September 2023. [7]
KPMG is one of the Big Four accounting firms, with Ernst & Young, Deloitte, and PwC. In July 2023, KPMG and Microsoft expanded their partnership to explore the use of AI in accounting and reshape workforce modernization. The collaboration includes a multibillion-dollar commitment by KPMG to Microsoft Cloud and AI services over five years. KPMG is the top competitor for Deloitte in the accounting sector. [8]
5. Wipro
Year founded: 1945
Headquarter: Bengaluru, India
Wipro is an Indian multinational corporation specializing in IT, consultancy, and business process services. It is one of the leading big tech companies. In 2022, Wipro employed over 240,000 people.
In July 2023, Wipro had 1,444 active customers. Most companies strive to gain more clients; however, Wipro plans on strategically reducing its clients to focus on highly profitable deals. The IT firm reduced the number of customers by around 100 in the latest quarter but added eight clients in the $20 million and $ 100 million plus range. Wipro is one of the best alternatives to Deloitte. [9]
6. Cognizant
Year founded: 1994
Headquarter: Teaneck, New Jersey
Cognizant is an American multinational IT services and consulting company. The firm is part of the NASDAQ-100. In Q4 2022, Cognizant had 355,300 employees; however, it laid off 3,500 employees in mid-2023. [10]
Cognizant serves organizations of all sizes. In April 2023, Volkswagen hired Cognizant to overhaul its contact center platform in Ireland to improve customer experience. The firm will replace Volkswagen’s current system with Amazon Connect, which delivers seamless company-customer interactions. Cognizant is one of the top competitors for Deloitte. [11]
7. PricewaterhouseCoopers (PwC)
Year founded: 1998
Headquarter: London, England, UK
PwC is a British multinational professional services company. It is one of the Big Four accounting firms, with Deloitte, EY, and KPMG. In 2022, PwC had 328,000 employees.
PwC’s services include tax analysis, audit, financial and risk advisory, and assurance. In March 2023, PwC agreed to settle an undisclosed matter with the Australian Tax Office (ATO). The company also had a confidentiality breach after a former senior partner shared confidential briefings about a planned tax on multinationals with several PwC clients. These scandals undercut PwC’s competitive advantage over Deloitte. [12]
8. Tata Consultancy Services (TCS)
Year founded: 1968
Headquarter: Mumbai, India
TCS is a multinational IT services and consulting company. The firm is an early adopter of generative AI learning on Google Cloud. In August 2023, TCS won three Google Cloud Partner of the Year Awards. The company triumphed in global talent development, financial services & insurance, and retail & consumer packaged goods categories. [13]
TCS partners with global organizations in their transformation journeys. In June 2023, TCS won five Microsoft Partner of the Year Awards, including MVP Industry Solutions GSI, Global Systems Integrator, and Dynamics 365 Sales and Marketing. TCS is a formidable competitor for Deloitte. [14]
9. Ernst & Young (EY)
Year founded: 1989
Headquarter: London, UK
Ernst & Young, aka EY, is a multinational professional services network. In 2022, EY had 365,399 employees; however, it laid off 3,000 workers in 2023 to eliminate overcapacity. [15]
EY is one of the Big Four accounting firms, with Deloitte, KPMG, and PwC. The company offers assurance, consulting, law, strategy, tax, and transactions in over 150 countries. In May 2023, EY won two ServiceNow Partner of the Year Awards in the Worldwide Financial Services Industry and Accelerated Growth categories.
The EY-ServiceNow alliance provides solutions to help companies deliver workflow automation, enable cross-system connectivity, and enhance resource efficiency. Ernst & Young is one of the top competitors for Deloitte in the accounting sector. [16]
10. Tech Mahindra
Year founded: 1986
Headquarter: Pune, India
Tech Mahindra is an Indian company that offers IT services and consulting. It specializes in digital transformation and business re-engineering services and solutions. As of September 2023, Tech Mahindra had over 148,000 employees in 90 countries and over 1,250 global customers, including Fortune 500 companies.
Tech Mahindra helps businesses leverage next-generation technologies, including 5G, AI, metaverse, blockchain, quantum computing, and cybersecurity. It enables end-to-end digital transformation for global organizations. In September 2023, the company launched its new Ops amplifAIer solution. This product amplifies support engineers’ productivity. Tech Mahindra is one of the fastest-growing competitors of Deloitte. [17]
11. Capgemini
Year founded: 1967
Headquarter: Paris, France
Capgemini is a multinational IT services and consulting company. The firm partners with organizations to help them transform and manage their business by leveraging technology. In March 2023, Capgemini had 360,000 employees in over 50 countries, and Ethisphere recognized Capgemini as one of the World’s Most Ethical Companies in 2023. [18]
Capgemini is a leader in digital transformation and consulting in software, cloud, data, AI, connectivity, digital engineering, and platforms. In August 2023, Capgemini won four Google Cloud Partner of the Year Awards. Capgemini is a worthy competitor for Deloitte. [19]
12. Fujitsu
Year founded: 1935
Headquarter: Minato City, Tokyo, Japan
Fujitsu is a Japanese multinational ICT equipment and services corporation. The company has 124,000 employees and serves customers in over 100 countries. In May 2023, Fujitsu restructured its business framework. The ICT firm eliminated its tech solutions department and created three new segments. [20]
Fujitsu offers services and solutions in five areas: computing, networks, AI, data & security, and converging technologies. In September 2023, the company partnered with Hokuriku Bank and Hokkaido Bank to explore the use of generative AI for banking operations. Fujitsu is a worthy alternative to Deloitte. [21]
13. NTT DATA
Year founded: 1988
Headquarter: Koto City, Tokyo, Japan
NTT DATA is a global digital business and IT service company. The firm has over 130,000 employees and serves clients in over 50 countries. According to Gartner, NTT DATA has 4.5 stars out of 5 from 11 ratings.
NTT DATA helps organizations transform through consulting, industry solutions, business process optimization, IT modernization, and managed services. In September 2023, NTT DATA was named a Leader in the Everest Group Enterprise Blockchain Services Assessment. Its blockchain offerings include ioTrace, Blockchain Reconciliation Platform, BlockTrace, StampChain, and KayTrust. NTT DATA is one of the best alternatives to Deloitte. [22]
14. DXC Technology
Year founded: 2017
Headquarter: Ashburn, Virginia
DXC is a global IT services and consulting firm. It helps public and private entities to deploy services to improve performance, competitiveness, and customer experience across their IT estates. In 2022, DXC had around 138,000 employees.
DXC helps global companies run mission-critical systems and operations, modernize IT, and optimize data architectures. Organizations can also rely on DXC’s expertise to enhance security and scalability across public, private, and hybrid clouds. According to Gartner, DXC has 4.4 stars out of 5 from 17 ratings. DXC Technology is one of the best alternatives to Deloitte. [23]
15. T-Systems
Year founded: 2000
Headquarter: Frankfurt, Germany
T-Systems is a digital transformation and IT service provider. The company is part of Deutsche Telekom AG. In 2022, T-Systems had over 28,000 employees.
T-Systems serves businesses and organizations of all sizes. In May 2023, the firm acquired software company GeoMobile. GeoMobile’s Mobility-as-a-Service platform consolidates linked transport services of a region in a single solution. So, passengers can plan, book, and pay for trips from their smartphones. This acquisition strengthens T-Systems’ position in the transportation sector. T-Systems is an emerging competitor for Deloitte. [24]
References & more information
- Deloitte (2023, Sep 7). Deloitte reports record FY2023 revenue. Yahoo Finance
- Paypers Staff (2023, Aug 18). Deloitte has expanded its partnership with NVIDIA. The Paypers
- Reuters Staff (2023, Jul 31). IT consulting firm Accenture to cut 890 jobs from Irish operations. Reuters
- Accenture Staff (2023, Jun 1). Accenture Acquires Nextira, Expanding Engineering Capabilities in Artificial Intelligence and Machine Learning. Accenture Newsroom
- Consultancy Staff (2023, Aug 23). IBM Consulting to deliver new generative AI offering with Microsoft. Consultancy.uk
- Hille, J. (2023, Feb 28). How to Select an SAP Application Management Service Provider. Protera
- Reuters Staff (2023, Jun 26). KPMG to cut 5% of US jobs in a fresh round of layoffs. Reuters
- Microsoft News Center (2023, Jul 11). KPMG and Microsoft enter a landmark agreement to put AI at the forefront of professional services. Microsoft.com
- Chaturvedi, A. (2023, Jul 26). Wipro to focus only on large deals, says IT company’s top management. Business Today
- Sarkar, S. (2023, May 4). Cognizant is to lay off 3,500 employees and expects 2023 revenue to decline marginally. Financial Express
- Consultancy Staff (2023, Apr 19). Volkswagen hires Cognizant for the Irish customer experience project. Consultancy.eu
- Evans, J. (2023, Jul 27). PwC reveals private settlement over undisclosed matter with Tax Office, as it contended with unfolding tax leak saga. ABC News
- Tata Consultancy Services (2023, Aug 30) TCS Wins Three 2023 Google Cloud Partner of the Year Awards. TCS.com
- Tata Consultancy Services (2023, Jun 28). TCS Wins Five 2023 Microsoft Partner of the Year Awards. TCS.com
- McMurray, A. (2023, Jun 27). Technologists were hurt most by extremely unexpected EY layoffs. E-Financial Careers
- Ernst & Young (2023, May 23). EY is recognized as the 2023 ServiceNow Worldwide Financial Services Industry and Accelerated Growth Partner of the Year. EY.com
- TM Staff (2023, Sep 6). Tech Mahindra Launches Generative AI Powered Ops amplifAIer, a Digital Assistant for IT Support Engineers. TechMahindra.com
- Capgemini Press (2023, Mar 13). Ethisphere names Capgemini as one of the 2023 World’s Most Ethical Companies for the 11th time. Capgemini.com
- Capgemini Press (2023, Aug 29). Capgemini won several 2023 Google Cloud Partner of the Year Awards. Capgemini.com
- Fujitsu Limited (2023, May 24). Notice regarding changes in business segments. Fujitsu.com
- Fujitsu Limited (2023, Sep 22). Fujitsu and Hokuhoku Financial Group launch generative AI trials to streamline operations for Hokuriku Bank and Hokkaido Bank. Fujitsu.com
- NTT DATA Group Corporation (2023, Sep 19). NTT DATA Named a Leader in Everest Group’s Blockchain PEAK Matrix® 2023 Report. NTTDATA.com
- DXC Technology (2022, Aug 3). DXC Technology Reports First Quarter Fiscal Year 2023 Results. DXC.com
- Deutsche Telekom (2023, May 4). T-Systems acquires software company GeoMobile. Telecom TV
- Featured Image by Dan V
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