Deloitte Retains Top Ranking of Commercial Services Brands

Commercial services brands begin recovery from the COVID-19 pandemic.

Deloitte has been ranked as the most valuable and strongest commercial services brand in the world valued at US$29.8 billion, according to the latest assessment by Brand Finance for 2022.

Human resources brands Randstad and Recruit also performed well dominating the fastest-growing commercial services brands category, while new entrants into the ranking came from diverse sectors including Booz Allen (IT consulting), Global Payments (FinTech), Synchrony (FinTech), Teleperformance (technical support services) and Refinitiv (financial market data provider)

Top 10 Most Valuable Commercial Services Brands 2022

  1. Deloitte
  2. American Express
  3. Visa
  4. EY
  5. PWC
  6. MasterCard
  7. Paypal
  8. KPMG
  9. S&P Global
  10. Sysco

Overall, the Top 100 commercial services brands average 12% growth this year, said Brand Finance, which added that the world’s largest commercial services brands are beginning to recover from the COVID-19 pandemic with 85 of the top 100 brands growing in value this year.

 
 

“This is a clear indication that the industry has turned the corner after widespread disruption over the last two years,” said Brand Finance which annually puts 5,000 of the biggest brands to the test, ranking brands across all sectors and countries.

“The commercial services industry is reenergized as the economy bounces back from the impact of COVID-19,” said Alex Haigh, Director of Brand Finance.

 
 

“The diversity in the sector spanning across FinTech, business support, security and human resource services is key to the growth of the industry as a whole.”

Deloitte retains title of most valuable & strongest commercial service brand

Deloitte sits at the top position in the Commercial Services 100 ranking with a 12% year-on-year brand value growth at US$29.8 billion, but is still below its pre-pandemic value of US$32.4 billion.

Top 10 Strongest Commercial Brands 2022

  1. Deloitte
  2. EY
  3. PWC
  4. McKinsey & Company
  5. PayPal
  6. BCG
  7. Visa
  8. S&P Global
  9. KPMG
  10. Bain & Company

According to Brand Finance, despite the impact of the pandemic, in 2021 Deloitte exceeded the US$50 billion revenue mark. Since the outbreak of the pandemic, the demand for consulting services has been disrupted as many brands undertook significant transformation.

A key brand driver as Deloitte’s customers increase environmental, social and governance considerations has been the brand’s strengthening commitment to meeting its net zero carbon targets. The consulting giant has pledged to achieve a net-zero status by 2030 by deploying many internal policy changes, including a dedicated carbon offset strategy to offset emissions which assist in the transformation from fossil fuel reliant models to renewable energy.

New entrants into the ranking hail from diverse sectors

The commercial services sector is expanding its scope as the new entrants into the Commercial Services 100 ranking belong to diverse sectors spanning IT consulting, FinTech, technical support services and data providers. The increasing diversity of brands is a testament to the growth of the sector over the pandemic and its importance to business partners and stakeholders.

The new entrants in the ranking include Booz Allen an IT consulting firm (valued at US$3.5 billion), Global Payments a FinTech service provider (valued at US$3.2 billion), Synchrony a consumer financial services brand (valued at US$3.0 billion), Refinitiv a financial market data provider (valued at US$1.7 billion) and Teleperformance a technical support services provider (valued at US$1.4 billion). Commercial services brands are successful in employing their existing expertise in adjacent markets and providing services that are in high demand.

HR brands Randstad and Recruit lead the fastest-growing commercial services brands

Recruit (brand value up 50% to US$2.5 billion) and Randstad (brand value up 28% to US$4.3 billion) provide services including human resource consultancy, job boards staffing services, job advertisements and employer review platform.

Through the course of the pandemic working models have been questioned and businesses are starting to recognize the power of the global talent pool, noted Brand Finance.

There has been an incremental growth of human resource services as businesses began to actively hire global talent in the past year. Human resource service providers play an instrumental role in enabling employment opportunities worldwide and are growing in scale and service offerings.

The impact of global lockdowns, new and flexibility in working models have enabled the Great Resignation wherein employees chose to move to jobs that provide higher pay and more favorable benefits. Online services provided by human resources services such as Randstad and Recruit are well-positioned to meet growing demands in the sector.

The full ranking, additional insights, charts, and more information about the methodology are available in the Brand Finance Commercial Services 100 report.


Image: Joe Caltiere via Pexels

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