SWOT Analysis of BDO Global. BDO (Binder Dijker Otte) is a chain of business advisory, consulting, tax, and accounting professional service-providing firms. M.L. Seidman, Hans Otte, and Hassan Muhammad laid the foundation of the professional service-providing company in 1963. But the company took the existing name “BDO” and became a European member in 1973. The headquarter of the company is in Zaventem, Belgium.
Some of the key professional services BDO offers to its clients are as follows;
- Information system assurance
- Employee benefit plan audit
- Outsourcing & business services
- Reporting advisory services & accounting
- Accounting standards & reporting matters
- Assurance services & audit
Key statistical figures of BDO Global are as follows;
- According to an estimate, the annual revenue of BDO in 2022 was 13 billion dollars, and it has increased by 12% compared to the previous year
- The company has a network of 1803 offices in 164 countries across the world
- Approximately 111,307 employees are working for the company to manage its worldwide operations
Some of the top competitors of BDO are as follows;
- RSM International
- Ernst & Young
- Grant Thornton
- Smith & Gesteland
- BKD LLP
- Eisner Amper
- Moss Adams
- Veris Consulting Inc
Today, we’ll discuss the swot analysis of BDO Global. It is going to analyze the internal strengths and weaknesses; external opportunities and threats to the professional service-providing company. Here’s the swot analysis of BDO Global as follows;
Strengths of BDO Global
Some of the key strengths in the swot analysis of BDO Global are as follows;
BDO follows the approach of satisfying the requirements of customers. In fact, the professional service-providing company has a loyalty program for its regular clients, and they’re loyal to the brand. The company has a cooperative environment that shifts its culture and guides the management.
BDO is operating its business in roundabout 164 countries across the world like Chile, Ireland, Canada, China, Australia, the UK, the USA, and many others. Approximately 111,307 employees are working for the company at its 1804 offices worldwide.
BDO Global is the world’s leading professional service-providing company, and the firm generates the highest revenue compared to its competitors in the industry. The company has got high moral standards and it employs technology and digital media to offer consulting, management, operational, and financial advisory services.
Dependable & Committed
BDO has a strong commitment to its professional ethics and offers high-quality services. In order to achieve its goals and objectives, the company has laid down strict standards and guidelines for its employees to follow.
The professional service-providing company believes in open communication. In fact, the company encourages its clients to openly share their thoughts and concerns about the project with the company’s representative. The firm takes its concerns into consideration while implementing it.
BDO Global has got a team of professional experts and they offer high-quality advisory services to the complicated problems of their clients. The diverse team members have got expertise in various fields and they actively reply to the changing needs of the environment.
Working Relationship With Clients
The company makes sure that it has got professional working relationships with its clients like working and collaborating with each other on the assignment. The trust and confidence of the clients allow the company to achieve a high level of access to the database of clients, so the company could offer them better advise.
Weaknesses of BDO Global
Some of the main weaknesses in the swot analysis of BDO Global are as follows;
BDO has been in the professional service-providing industry for more than fifty years. But the growth of the company as compared to its many competitors is very low. They have achieved tremendous growth in a very short time.
The coordination among various departments of the company is very low because they are working on different projects for various clients. Often, the company offers services to mid-sized companies, and it may face high competition in the industry.
Over-reliance on Consultancy
BDO is heavily relying on consultancy services as its major source of revenue. It would jeopardize the growth of the company in the long term because of limited portfolio diversity.
There are some rumors that BDO has compromised the private data of some of its clients. Such types of rumors and false slanders could break the trust and confidence of its clients; give competitors an opportunity to gain an advantage.
Expansion in the skill service portfolio plays a significant role in the business dynamic world. But it is highly difficult to attract the right people with specialized skill sets, and the availability of professional experts is also very limited.
Opportunities Available to BDO Global
Some of the available opportunities in the swot analysis of BDO Global are as follows;
BDO should advantage of the tech advancement and employ the latest technological tools and equipment to automate its processes and operations. The investment in the technology would save the company time, cost, and resources.
Retaining Professional Experts
The focus of every professional service-providing firm is to have professional experts on their team. But there are very few experts in the market, and it is difficult for companies to retain them. The company should offer them better packages and benefits to attract and retain them.
Cash Flow Stability
BDO has a strong brand reputation and it allows the company easy access to financial renounces, cash, and capital. The company should take advantage of the availability of financial resources in order to expand its portfolio and offer more products in different categories.
Recent environmental trends have made clients cautious about the environment, and they want to work with such organizations that are sustainable. The company also believes in the sustainability of the environment and it should capitalize on this opportunity and gain a competitive edge.
BDO has got a strong working and professional relationship with its clients. In fact, the company encourages its employees and staff members to directly deal with the company’s problems and fix their problems on the company’s behalf. The open, honest, and trusting atmosphere shows the professional culture of the company.
Threats to BDO Global
Some of the potential threats in the swot analysis of BDO Global are as follows;
Many of the company’s partners and affiliated firms are facing lawsuits of regulatory and others. It is jeopardizing the trust and confidence of the clients in the company.
Government and legal institutions are introducing new laws and regulations for professional service-providing companies. It is making it difficult for the company to run its various operations.
The service-providing industry has become highly competitive in recent years, and it is becoming difficult for the company to operate its business in such a highly competitive environment. Resultantly, the company is facing the challenges of limited profitability and limited market share.
Conclusion: SWOT Analysis of BDO Global
After an in-depth study of the swot analysis of BDO Global; we have realized that BDO is the world’s leading professional service-providing company. If you are learning about the company’s operations, then you should keep in mind its internal and external factors.
Ahsan Ali Shaw is an accomplished Business Writer, Analyst, and Public Speaker. Other than that, he’s a fun loving person.