The Tribune

PricewaterhouseCoopers (PwC) Bahamas has facilitated the opening of digital wallet accounts for all of its employees as part of its digital transformation drive.

Prince Rahming, PwC Bahamas' territory leader, said: “This year we wanted to give our people something more meaningful. During this time of year we normally host our annual Christmas party.

"Due to the COVID-19 protocols, we decided to repurpose those funds to open digital accounts for all of our employees and give them the gift of digital wallets to show our appreciation for all of their efforts and hard work throughout the year.”

Mr Rahming added that it was particularly important for PwC to ensure its staff were at the forefront as participants in the emerging Bahamian digital economy. “The Sand Dollar digital currency is the first of its kind in the world to have been fully deployed by a central bank," he said.

"As a firm, we wanted to take the lead to ensure our people were fully engaged and active participants in the digital revolution.”

PwC said it views the digital wallets as an opportunity to support the work the Central Bank of The Bahamas has done to implement a digital payments system in The Bahamas.

Myra Lundy-Mortimer, PwC Bahamas risk assurance partner, added: "PwC globally has invested significantly in new technologies and the digital upskilling of all staff, and encourages them to embrace this new form of digital technology as we would with our clients, especially during this pandemic.”

Since COVID-19 struck, the accounting firm has been using more digitally-enabled services to help clients address concerns and navigate the challenges associated with the new reality created by the pandemic.

Kevin Cambridge, PwC Bahamas advisory partner, said the company has been engaged in numerous projects locally as well as across the Caribbean within both government and the private sector.

Carlton Cartwright Junior, PwC Bahamas digital assurance leader, said: “In the aftermath of COVID-19, embracing digital tools and technologies is no longer a luxury but, rather, a necessity. PwC has implemented various digital initiatives internally, with our clients and within the broader Bahamian community.”

He added that in addition to using digital tools to manage and deliver more efficient audits, PwC Bahamas is also providing digital and data analytics support to their clients including an ongoing project with the Government.

“We took a manual consolidation process of COVID-19 results and, through the use of a digital tool used by the firm, substantially reduced the time to generate valuable insights from the data," Mr Cartwright said.

He added that PwC is also investing in the future of digital entrepreneurs through its corporate social responsibility initiatives. “We have implemented multiple curricula based around teaching high school students entrepreneurial and technological skills, including blockchain fundamentals," Mr Cartwright said.

“Digital technology continues to enable us as a firm to provide a more efficient means to help our clients solve their most important problems, and our people are at the very heart of this transformation” said Mr Rahming.