BDO looks back on a successful fiscal year that continued the growth trajectory of the prior year. In a dynamic economic environment, BDO increased revenue by 4.7 percent to CHF 221.4 million. All areas reported an increase in revenue in 2019, or were able to match the prior-year level.
Digital, transparent, flexible - our focus on client needs
Digitalisation of processes has emerged as a critical long-term success factor across business areas. BDO invests continuously in new tools and platforms to address market challenges more efficiently. Our investment in people and digital infrastructure is paying off. BDO launched the digital Client Portal in 2019, enabling secure transfer of data and information. The platform has been a valuable asset in enabling clients and BDO to work together, especially throughout the acute phase of the coronavirus crisis. Business solutions and audit processes are also being automated. BDO uses bot technology, with digital assistants Lisa and Nina contributing not only to diversity but also more efficient processes. Throughout the digital transformation, personal and direct contact with clients remains critical, however. This is something we are committed to, as evidenced by the fact that we opened our 34th BDO office. BDO values quality and personal contact as essential components for maintaining the high level of client satisfaction that defines BDO and lays the foundation for exceptional client loyalty.
Strengthening awareness for lifelong learning
Digitalisation and demographic shifts are changing the world of work. In this context, the concept of lifelong learning is highly relevant. Those who take part in further training and invest in themselves enjoy a higher value on the labour market – and better self-esteem. Our people’s know-how and loyalty to BDO are key success factors for our company. That is why we invest continuously in education and training and empower BDO people with a modern, state-of-the-art workplace.
The impact of TRAF on SMEs
The Federal Act on Tax Reform and AHV Financing (TRAF) entered into force on 1 January 2020. The cantons have amended their legislation accordingly, or will do so soon. Implementation of TRAF creates a competitive tax system that meets international requirements and also contributes to safeguarding pensions from old age and survivors’ insurance (AHV). Various tax relief measures were agreed under TRAF to keep the higher tax burden for affected companies to a moderate level. Whether SMEs can benefit directly from the measures needs to be assessed on a case-by-case basis.
Providing trusted services beyond the year-end audit
Besides the year-end audit, organisations are increasingly seeking assurance and audit-related services. There are good reasons to invite an independent auditor to examine the facts and figures. In our age of data overload, validated and certified information create certainty and trust - two fundamental aspects when entering into new partnerships or continuing existing ones. They also lay the foundation for an effective economy.
Chairman of the Board of Directors, BDO Switzerland