In one of the most disruptive years for business to date, how does PrimeGlobal, a professional services organization, end up tripling its revenue? The company reported double-digit growth with a revenue of over US$3.5bn for this fiscal year; its staff grew by 21% to 21,000+ team members; and its number of partners grew 41% to over 3,000.
‘Our unique culture of learning, sharing, and collaboration continues to attract new, strong, independent firms to PrimeGlobal’, said CEO Steve Heathcote. ‘And I am so proud of our member firms who have been by their clients’ side throughout the pandemic. We came together to learn and respond to changing needs’.
What Led to Its Success?
Fundamentally, the pandemic meant that businesses needed PrimeGlobal’s advisors. But the company also launched an aggressive inorganic drive for new member firms. In 2020 and 2021, eleven new APAC firms joined PrimeGlobal, including one of China’s largest professional services firms, ZhongXingHua. That firm alone added 2,700+ finance professionals and 32 offices to PrimeGlobal’s ASEAN community. In addition, PG added Hong Kong’s Frank Forensic Corporate Recovery, Uzbekistan’s Prom Audit, Nepal’s TP Adhikari, and new firms from Pakistan, Singapore, and China.
As a result...247% growth in APAC!
Where Will PrimeGlobal Go From Here?
The firm recently launched Strategy 2025, which lays out a roadmap for how PrimeGlobal will realise its vision, mission, and purpose. The company involved its entire community in shaping the project, holding roundtables, talks, and consultations with 90% of its member firms. Further, the company is focused on organic growth and recruitment in its Greater China and ASEAN regions.
‘As the pace of change quickens, we’ve anticipated how firms will need to be supported in the future’, said Heathcote. PrimeGlobal intends to increase its staff, partners, and facilities across all four of its global locations. To conclude courtesy of Heathcote: ‘Our Strategy 2025 will ensure our firms are ready to re-tool, re-skill, and re-set to help businesses thrive as we emerge from the pandemic’.