Consulting services drive 9.2% growth at RSM International
13 Jan 2021
RSM International has posted a 9.2% hike in global revenue which hit $6.3bn (£4.6bn) in 2020, up from $5.7bn (£4.2bn) the previous year
13 Jan 2021
Highest growth was in consulting services, which rose by 15%. RSM said this was driven by demand for management and business consulting, IT consulting and risk management, as the network supported middle market business leaders in their response to the pandemic, the reorganisation of their business operations and the digitalisation of their infrastructure.
Audit revenue was up 10%, while global tax revenue increased by 6%. RSM said this was partly to do with helping companies with the legislative changes caused by the pandemic, and also reported increased demand for advice regarding the application of government stimulus packages, M&A opportunities for strategic deals and, in the latter part of the year, restructuring and transaction support as businesses looked for recovery solutions.
Jean Stephens, RSM International global CEO, said: ‘2020 has been a challenging year but our growth reflects the agility and resilience we have shown in the face of adversity, adapting our digital infrastructure in line with rapid change, being purposeful in our decision-making and prioritising the wellbeing of our colleagues and business security of our clients.’
Over the course of the year new member firms were appointed to the network in Denmark, Chile, Paraguay, Zambia and Kazakhstan and 12 new offices opened. RSM International now encompasses over 120 countries, 820 offices and 48,000 people.
In response to the pandemic, the network rolled out a dedicated global learning management platform to support training and service line best practice.
This year also saw RSM appoint its first global diversity and inclusion leader, together with the creation of the new role of chief operating officer.
Stephens said: ‘We enter 2021 in a strong position. That said, we are highly cognisant of the fact that, in common with businesses across the globe, there will be material impacts on our member firms, clients and communities due to the lasting and ongoing effects of the pandemic.
‘Amidst the uncertainty and many challenges presented by the pandemic, we have seized the opportunity to reflect, and reimagine how we collaborate, harness the right technology, stay connected and intentionally shape our future. These are the themes that we continue to focus on as we think about the changing world around us and our 2030 strategic roadmap for RSM.’