BDO continues to grow: revenue of CHF 187 million (+2.6%) with strong performance in the three core businesses auditing (+2.7%), accounting (+4.9%) and tax and legal advice (+6.1%). The increasing regulation and digitalisation have exacerbated the competitive conditions in auditing and accounting. BDO is using strategic measures to take advantage of the changes brought about by this.
The digitalisation of the economy is a core challenge of the present day. BDO has for years played a leading role in making use of electronic means and business models to improve its services. This is particularly paying off in the accounting and auditing areas. BDO makes use of platforms, cloud solutions and Software as a Service (SaaS) to provide its clients with accounting services. Digital data analysis is increasingly gaining weight in auditing. Moreover, these changes are also shaping dialogue with clients in other product areas. BDO is also successful here with innovative services tailored to client needs. As Werner Schiesser, CEO of BDO, explains, "In order to do justice to the requirements of increasing digitalisation, BDO has long been investing in new, IT-based solutions in a targeted manner."
Pleasing performance in the core areas
This is paying off. In the extremely competitive auditing market, BDO has grown by 2.7% to CHF 65 million notwithstanding the negative trend in the sector. Fees are generally falling for new tenders and many smaller companies are foregoing auditing due to the opting-out rule. Prices have therefore come under pressure.
The growth in the accounting area of 4.9% to CHF 62 million is also worthy of note. BDO has developed a wide range of services over the years. The close proximity to clients practised in this area is of particular importance. It is based on an extensive branch network and close, personal support provided by the client advisors. As a result, the company's more than 20,000 clients remain with BDO for an average of more than 20 years.
In tax and legal advice BDO has recorded a particularly pleasing 6.1% increase in revenue to CHF 21 million.
A video interview with CEO Werner Schiesser and the Annual Report are available at here. Graphics can also be downloaded from the Media Centre.
Head of Corporate Communication
Head Office Switzerland
Biberiststrasse 16 | 4501 Solothurn
Phone: +41 32 624 62 17 | Mobile +41 79 548 34 68
With 33 branches and about 940 full-time equivalents, BDO Ltd, headquartered in Zurich, is the preferred partner in Switzerland for small and medium-sized enterprises, public authorities and non-profit organisations. It offers auditing, financial services, accounting, management consultancy, IT services, tax and legal advice and real estate services.
BDO Media release annual report 2015