RSM - key highlights in 2019
- 6.9% increase in global revenues year-on-year at average exchange rates (*8.8% at constant exchange rates)
- Global headcount increases by 1,872 and 54 new offices
- Double-digit growth for 46% of member firms
- Growth led by North America (14.8%)
- Service line growth dominated by tax (11.7%) and consulting (7.2%)
- Key merger activity in China and France, and an enhanced presence across Africa
Regional growth was particularly strong in North America (14.8%),with Asia Pacific also experiencing a significant increase (6.0%). Across the network, 77% of RSM member firms grew their revenues, with 46% experiencing double-digit growth. In an increasingly complex and data driven regulatory landscape, service line growth was led by tax services (11.7%) and consulting services (7.2%).
Earlier in the year, RSM announced a merger between Chinese firms Huapu Tianjian and GT Ascenda to form the new RSM China. This resulted in 40% local growth, enhancing the network’s capabilities in advising Chinese middle-market businesses on international expansion opportunities.
In Europe, plans were finalised to formally unite the network’s five French member firms in a strategic merger that will complete later this year as part of an ongoing commitment to consistent, high-quality service delivery. The network also enhanced its presence across Africa.
Innovative partnerships and digital solutions
RSM is investing heavily in the enhancement and development of new and existing services, as well as internal applications and processes, through the utilisation of new digital technologies. RSM US has partnered with Plug and Play, which accelerates opportunities for middle market businesses through new technologies, digital strategies, big data, artificial intelligence and other innovations in the cyber technology space. RSM Spain formed a strategic partnership with a non-cryptocurrency blockchain platform that enables global brands to generate a digital paper trail, providing transparency in the supply chain.
2019 marked the launch of RSM Orb, a new global audit methodology and supporting platform that scales according to client complexity and circumstance. The methodology, focused on client risk and providing deeper critical insights, has been deployed across more than 100 countries worldwide.