Business Model Reinvention

In our rapidly evolving global economy, reinventing your business model is not simply a choice—it’s a strategic necessity for sustainable growth and long-term success.

Companies that fail to adapt are likely to be left behind. The business landscape is changing; customer expectations are evolving, behaviours are shifting, and technology is advancing at an unprecedented speed.

Your role as a leader is critical. How will you guide your organisation to unlock hidden growth?

While you can’t predict the future, shaping it is within your reach. What will set you apart from your competitors? How will you lead your company toward innovation and resilience in a world where change is the only constant?

What is business model reinvention?

Business model reinvention reimagines how a company functions to create, deliver, and capture value. It goes beyond simply enhancing or modifying what currently exists, to reconsider what drives the business—the value it provides, its profit-making approach, and its core capabilities, processes, and resources.

45%

of global CEOs expect that without transformation, their company will no longer exist in 10 years.

PwC CEO Survey 2024

Drivers of business model reinvention

Market disruptions

Technological advancements, shifting customer preferences, or changes in the competitive landscape can disrupt traditional business models, necessitating reinvention to stay relevant.

Declining performance

Diminishing market share or declining customer satisfaction may indicate the current business model is no longer efficient, prompting the need to reinvent.

Innovation opportunities

Innovative ideas or emerging technologies with the potential to transform the company’s operations and offerings can trigger reinvention.

Industry shifts

Changing regulatory environments, emerging trends, or shifts in consumer behaviour may drive companies to reinvent.

Future-proof your business in today's evolving market

Our framework

Utilising PwC’s business model reinvention framework, we work closely with organisational leaders to map out a plan aimed at driving value creation and growth. Our focus is on leveraging our capabilities to explore opportunities that help your organisation evolve its business model and fundamentally transform how you create, deliver, and capture value.

Financial services

Opportunity: A multinational insurance company redefined its business model to enter the US market with a bold new go-to-market strategy. Instead of offering traditional insurance products, the organisation concentrated on developing an ecosystem of products and services specifically for the caregiver industry, targeting employers, brokers, and carriers. Leveraging extensive caregiving experience, it identified a critical gap in eldercare solutions within the US - a rapidly expanding need- and positioned its brand to address it with comprehensive eldercare offerings. This business model reinvention moved the company beyond insurance, transitioning them into a leading business partner for eldercare solutions that support both employers and families.
Solution: Through extensive research, PwC helped identify a crucial need for caregiving solutions and pinpointed the ideal target market. Together, PwC and the client crafted a user-centered platform aimed at busy professionals with limited eldercare experience, leveraging the company’s brand to establish a strong US presence. This brought innovation to the caregiving space, providing a streamlined, accessible support solution that transformed how professionals could approach eldercare.
Impact: Within nine months of beginning the business model reinvention journey, the company generated an additional revenue stream of $8.5m by merging digital technology with concierge services custom-built for caregivers. Within a year, they surpassed their multi-channel product vision, successfully launching the platform across consumer, employer, broker, and carrier channels. The platform rapidly gained traction, with employees from four employers adopting it within its first month of launch. Today, the insurance organisation has established a dedicated US business unit with over 20 employees focused on supporting and expanding the platform - strengthening their commitment to innovation in the caregiving industry.

Healthcare industries

Opportunity: Despite rising consumer demand for in-home products, a medical supply manufacturer’s reliance on distributors resulted in a limited digital infrastructure to directly connect with customers. Traditionally acquiring customers through television advertising and field sales driven by physician referrals, the company’s lack of direct engagement with consumers and their healthcare providers had limited its ability to effectively support patient condition management, impacting its potential to scale revenue in the in-home product market.
Solution: A global strategy director sought guidance from PwC to leverage business model reinvention as a strategic growth tool. PwC tackled the opportunity with a strategic perspective, implementing a BMR approach designed to support both immediate experiential needs and long-term operational success. By aligning BMR with the broader business goals, PwC assisted the company in building a robust framework for sustainable growth, positioning the company to succeed in a shifting market environment.
Impact: Within just eight months, the company saw $1m in incremental monthly sales and a 29% increase in traffic. Enhanced by Salesforce, lead conversion rose by 7.6%, opening new avenues for re-orders and upselling. Moreover, the company experienced a 1,400% increase in returning customer revenue, underscoring the success of improving customer experience, satisfaction, and scalability enabled by touchless orders. These e-commerce advancements allowed the company to self-fund, achieving full ROI and recognising the impact of their reinvention within the first quarter.

Industrial products and services

Opportunity: A leading semi-trailer manufacturer reimagined its market strategy by introducing "trailer as a service" — a subscription-based model that allows customers to access trailers flexibly without the burden of ownership or long-term leases. This groundbreaking offering addresses the increasing demand for asset-as-a-service solutions, distinguishing the company in a competitive market and driving recurring revenue while aligning with customers' changing needs for operational flexibility.
Approach: The manufacturer successfully transitioned from selling trailers to offering trailers as-a-service, empowering customers with adaptable solutions for managing fluctuating capacity needs. This transformation required building both business and technical capabilities, including developing an operational model and technical architecture to support new services like a marketplace for renting and servicing trailers. The company managed this innovation while navigating the complexities of existing dealer channels, ensuring alignment and amplifying market impact.
Impact: The company collaborated with PwC to develop enabling capabilities, enhance team skills, and create and sustain the online marketplace where dealers and customers can procure trailer rentals and aftermarket parts. Coupled with a digital roadmap to upgrade their IT and data capabilities, the initiative is poised to deliver over $140m in benefits.

Technology, media, and telecommunications

Opportunity: Amidst a low-growth phase with substantial pressure on profits and valuations, a telecommunications company was looking for new revenue that leveraged existing assets and capabilities, aiming to reposition itself toward higher growth and lower CapEx markets.
Solution: The company engaged PwC to help identify key market needs, evaluate capabilities, and analyse competitor positioning to pinpoint high-value opportunities. PwC recommended adopting a “data-as-a-service” business model, enabling the company to access new markets and buyers through digital business and insights services.
Impact: Within the first 18 months, the new offering’s top-line earnings are projected to be three times higher than those of core services. The company is also uncovering new value creation through strategic partnerships and various channel commissions.