PwC South East Asia Consulting sees Thailand’s market ripe with growth potential

PwC South East Asia Consulting is seeking to capitalise on Thailand’s growth potential as it pushes to provide a full-service consultancy business to clients across the region.

Delivering an integrated consultancy business is an important core strategy for the regional practice as it focuses on helping clients achieve sustained growth, according to Simon Gealy, CEO of PwC South East Asia Consulting.

“What we wanted to deliver to the market is a full-service consultancy business from strategy to execution,” Gealy said.

“By working closely with our colleagues in Audit, Tax and Deals, we help our clients reach the outcome that their businesses and customers demand,” he said.

Gealy recently relocated from Singapore to Thailand for three years to grow PwC’s Consulting practice in the region. He will be working closely with local leaders to deliver end-to-end outcomes for clients in the Thai market.

“There is outstanding growth in Thailand,” Gealy said.

“For me it’s about the recognition of Thailand as a practice in PwC and an outstanding area of economic potential in relocating our headquarters to Bangkok.”

In terms of business expansion, Gealy said he’s looking forward to bringing more innovation and go to market platforms to the Consulting practice in Thailand and the South East Asia region. 

“We see priorities such as digitalisation and sustainability as part of the equation, not just a separate challenge. That means every one of our consultants needs to think about digitalisation and sustainability as they go about their interactions with their clients,” he said.

“This will involve upskilling the entire practice from a digital standpoint so that we can go to the market with technology services and work with alliance partners to help our clients achieve end-to-end outcomes. This is really the ambition I have for South East Asia Consulting.”

PwC’s Consulting practice focuses on client needs, building trust and solving problems, which will be strengthened by Gealy’s relocation to Thailand.

Gealy, who was appointed partner in 1999, has held numerous leadership roles in the US and Asia, including as a Financial Services Leader for PwC Japan from 2014-2019. He leads a team of more than 1,000 people across six countries including Singapore, Indonesia, Malaysia, the Philippines, Vietnam, and Thailand.

“I think the magic happens in an organisation like PwC when you combine the best possible local talent with people across the network,” Gealy said. 

“I’m excited that we have that combination in Thailand. Our local Consulting Leader, Vilaiporn Taweelappontong, and I are looking forward to working together to grow the practice.”  

Challenging times ahead

The COVID-19 pandemic has had a significant impact on all economic sectors in Thailand, forcing businesses to tackle the challenges presented by the crisis. From supply chain disruption to the fast pace of digitalisation, businesses are facing immediate challenges, he said.

“There are a few things that are already a problem, such as the disruption of the supply chain. We know that the shortage of silicon chips has resulted in 2021 vehicle production being over 11 million units fewer than expected,” Gealy said.   

Part of the ripple effect of disruption is the phenomenon known as the Great Resignation, in which a large number of employees have voluntarily resigned from their jobs. This has put businesses under pressure to retain top talent. 

Inflation is also an emerging concern for businesses. 

“We haven’t seen interest rate increases for many years or inflation at the level it’s at now. That level has a significant impact on business and trade flows,” Gealy said. 

Adapting to survive

Solving these challenges requires companies to adapt and embrace end-to-end solutions.

To address digitalisation, for example, clients need to roll out a strategy that incorporates the company’s culture, workforce, and technology. That includes the business process reengineering necessary to make digitalisation flexible, Gealy said.

“There’s no point in digitalising a process that needs significant redesign. You should do that before implanting the new digital process. We want to help our clients reach the right outcome, and that involves using the full strength of our PwC network.”

“We’re here to help. We understand the challenges and the pressures our clients are under. No matter what the outcome is that their business demands, we’re keen to engage in a dialogue to solve their important problems. That is what we’re all about – solving important problems for our clients,” Gealy said.