Global changes and the impact on TP: an industry perspective
Jobst Wilmanns and Anodri Suchdeve of Deloitte Germany introduce the ITR 2023 TP industry focus guide, providing insights on global changes and challenges in various industries from a TP perspective.
This guide is produced by and in collaboration with Deloitte TP industry experts from around the world.
The topics discussed include inflation, new legislation, post-COVID recovery, new economic developments and digitalisation, all of which require attention from a TP perspective and are key considerations for businesses.
The banking sector finally saw an increase in profits in FY2023 despite the aftermath of two bank failures in the US. Nevertheless, other political events have sharpened the regulators’ focus on the operating models and risk management frameworks of banks, both of which will be considered from a TP perspective. In the article, leading Deloitte industry experts in the banking sector examine the latest market and regulatory developments and their TP impact.
The insurance business has felt the impact of different economic challenges during the last several years: the COVID-19 pandemic has changed traditional supply chains and workforces, alongside a decrease in economic development and the advent of technologies and their impact on business models. These and new changes in the market will be examined.
Meanwhile, an article on technology takes an international perspective and discusses hot trends in Japan, Australia, India, China, Philippines, Singapore, and South Korea.
Consumer retail and wholesale distribution has also been one of the most severely affected sectors in recent years. Rising prices and inflation have had a significant effect on the value chain, meanwhile the rise of digital goods and services has impacted brands and reputations, IT costs have been offset, and new business models are emerging to advance research and the production of packaging..
Deloitte leaders in the life sciences and healthcare sector detail the impact of economic developments, such as high inflation, supply chain disruptions, profound changes in public spending and many other external drivers, and illustrate potential TP implications.
Global socio-economic events have shaped the growth of and changes in the fintech industry. Following the global financial crisis of 2008, there was a rise in alternative business models within the banking sector such as digital banks. During the COVID-19 pandemic, there was a surge in the use of digital payments, allowing new payments and digital wallet companies to enter the market. Deloitte experts explore current trends in the fintech industry and typical TP issues for fintechs.
The industrial products and construction sectors have faced the strong influence of inflation. As such, the US launched the Inflation Reduction Act. Deloitte authors discuss how the new legislation influences global industrial products and construction enterprises.
The automotive industry continuously faces various disruptions and challenges throughout the years. From the COVID-19 pandemic to interrupted supply chains, geopolitical instabilities, the energy crisis and increasing inflation. Deloitte experts analyse the latest difficulties arising from current global crises on the automotive industry and the resulting TP repercussions.
This guide, as with every year, is a valuable contribution from our global network as they share their client work experience and industry knowledge. We hope you find this guide informative and useful in your day-to-day business.
Click here to read all the chapters from Deloitte's 2023 TP industry guide.