KEEPING THE FIRM STRONG

Our strength and stability enable us to invest in the future

Revenue (in billions)
2.0 1.5 1.0 0.5 0.0
  • FY16
  • FY17
  • FY18
  • FY19
  • FY20
We drive results, no matter what comes our way

The 2020 fiscal year was unlike anything we expected – but three things ensured Grant Thornton achieved its strongest financial position in 50 years: our commitment early on to work together in a spirit of stewardship, accountability and trust; our strategic framework focused on talent, integrity and performance; and our commitment to go in market as one firm, providing holistic solutions to our clients’ needs. Each helped us deliver great value and quality to our clients, and generate solid results for our firm.

We responded to the unprecedented challenge of COVID-19 with determination and agility. We ultimately grew net revenue for the full year by a modest 1.0%—enabling us to continue to invest in talent and innovations to drive future growth.

Moving the firm forward under new leadership

One of Grant Thornton’s strengths is our deep well of leadership talent. To identify the best leaders, we implemented a more comprehensive and inclusive way of identifying leaders – one that aligns with our purpose, vision, culture and CLEARR values. We worked together across service lines, industries, regions and Business Resource Groups to ensure we had the best people to serve our clients and grow our firm. We followed these principles:

First, identify teammates with the functional and leadership skills necessary to lead our teams’ work for clients successfully.

Second, prioritize the “trust factor” – pull together a team that will work well with clients and teammates, even during the most challenging and extraordinary times.

Third, develop our next generation of leaders to take on broader leadership roles in the future. This is an important way we act as good stewards of our firm.

Our leadership team reflects the broad and diverse skills, knowledge and experiences necessary to achieve our goals: to take care of our people, be there for our clients and keep our firm strong.

Whole-firm participation is key to innovation

Facing a global pandemic, Enterprise Transformation:

  • Readied our networks and infrastructure for firmwide remote work within two days of initial office closures; and
  • Added system capacity, enhanced network security and implemented 24 x 7 technical support, enabling a transition to a fully remote stance within two weeks

We soft-launched alyx, the concierge-enabled platform that connects our service lines and internal teams with the technogy required to solve business problems. During soft-launch, colleagues submitted nearly 500 business problems and the firm launched over 100 technology solutions, creating value for our clients and colleagues.

ET laid the groundwork for a simple, modern and secure approach to infrastructure and applications; by eliminating redundant applications, licenses and contracts, we will recognize significant cost savings in fiscal 2021.

In successfully migrating 36,455 sites to the latest version of SharePoint, ET developed new approaches and tools that resulted in a “best in breed” outcome.

As well as supporting our firm’s purpose, ET’s achievements in fiscal 2020 are fueling our transformation into the most business-integrated technology, innovation and automation professional services firm.