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Transaction Services: Adopting an opportunity mindset for FY23
Glen Hadlow
Transaction Services Leader, Deals
Ask 10 experts how things will play out in the market in the next 12 months, and you’ll receive 10 different answers, but the one thing they can all agree on is that uncertainty abounds.
The good news is, this is where our Transaction Services team thrives.
Where there’s uncertainty, there are opportunities – it all comes down to adopting an opportunity mindset. Clients who buy for the right strategic reasons, or with the right angles to a deal, can create significant value over time. But only if they’re committed to staying the course; it’s not a market for making quick wins.
The key, right now, is to be prepared. In some circumstances, clients that had planned to sell in the next 6-12 months might find their timelines pushed out, but rather than seeing this as an obstacle they should use this time to get their business into better shape for sale, whether that’s improving operations or broadening their offerings.
Top tips for FY23
How can Transaction Services help clients handle the uncertainty of the next 12 months? Right now, three things stand out: strategy, technology and ESG.
1) Strategy
While the fundamentals for successful transactions remain the same, advanced planning, and scanning the market for opportunities, are more important than ever.
This means thinking about capabilities sooner rather than later, to ensure a ‘capabilities fit’ between the buyer and the target. (Ask yourself: What capabilities do you currently have? What capabilities do you need to create value for your customers? And where are the capabilities gaps? Also, which gaps should be filled organically? And inorganically?) Dealmakers should also consider cultural alignment early on, to set the stage for a more successful integration.
2) Technology
We’ve invested heavily in technology in the past five years. In fact, I’m proud to say that the platform we use here in Australia’s Deals Team is being rolled out across the entire PwC global network. Our tech allows us to amalgamate all of a client’s internal data with a whole host of external data points to provide much greater insight for decision-making, whether that’s how to price things more effectively or perhaps making better returns. It’s all part of the value our team can add during the preparation phase.
3) ESG
Environmental, social and governance (ESG) matters are rocketing up investors’ agenda, and so too is our team’s ability to seek out ESG opportunities. ESG considerations continue to play an unprecedented role in driving deal activity, and our team recognises that ESG is core to value creation. I’m pleased to say we’ve got dedicated ESG experts in Deals, and our Transaction Services team works hand in glove with them to present a comprehensive story to new investors about ESG opportunities.
What is it really like working in the Transaction Services team?
There’s no sugar coating it; Transaction Services can be a demanding place to work. However, with great challenges come great opportunities, and it’s not overstating to say we have the chance to work on life-changing transactions with our clients.
One of the things I’m most proud of are our engagements with families where we help them sell their business and exit their life’s work. This is hugely satisfying. At the other end of the spectrum, it’s always a buzz to open the newspaper and read about a transaction we’ve successfully carried out for a high-profile company or private equity firm.
Anyone looking to work in Transaction Services should have a strong desire to seize opportunities and rise to a challenge. We’re a diverse team with a broad range of skills. There’s no one-size-fits-all mould for the Partners and staff that work in our team. For instance, our team is committed to making parental flexibility a priority so we’re a great choice for working parents. And, contrary to what people might think, we’re not comprised entirely of accountants, either. Our team members hail from a range of professional and personal backgrounds, and it’s just as important to have emotional intelligence and gel with a team, as it is to know your debits from your credits.
We’re all about development for our Partners and staff, too, and now that travel restrictions are lifting, there are plenty of opportunities for team members to work offshore and enjoy all the benefits that the global PwC network offers. Our Transactions Services practice has a strong history of encouraging our people to work overseas, picking up new skills whilst having an exciting life experience. It’s great to see this part of the business coming to life again.
More information
Find out more about Transaction Services or about a career in deals.
Shaping the future of deals
In a series of eight articles, our Deals leaders reflect on the year that has been and the market outlook ahead, speaking to the value they bring to a deal and what makes their team tick.
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