VirtualSpaces:PwCLaunchesItsOwnBusinessMetaversePlatform

Frankfurt am Main / Cologne, May 24, 2023 – With Virtual Spaces, the auditing and consulting firm PwC Germany launches the first business metaverse platform based on its own software for everyday business use. The solution enables clients, partners, and employees to enter virtual rooms via avatars and collaborate across companies: holding meetings, conducting events, sharing sensitive data, or realizing other innovative forms of collaboration. Thus, Virtual Spaces connects the real business world with the digital one and enables a first step into the metaverse.

The solution, developed in close collaboration with the digital agency Demodern, was consistently developed from PwC's brand values, thereby promoting continuous identification with the brand. As an auditing firm, security and trust are of utmost importance to PwC, and accordingly, Virtual Spaces was implemented to ensure compliance and work with sensitive data.

“The metaverse is a large, rapidly growing market. We are still at the very beginning. However, the German economy has already understood that it is time to act. At PwC, we are slowly introducing work in the virtual space with Virtual Spaces. We can then pass on our experiences to our clients,” says Clemens Koch, member of the management board and Head of Markets & Financial Services at PwC Germany.

Diverse Use Cases for All Business Areas

Virtual Spaces opens up many new possibilities for employees and clients. For example, HR departments can expand many of their initiatives into the digital space. This includes everyday processes such as application or feedback interviews, recruiting events, as well as training and other educational measures. Companies are also able to digitally extend measures like roadshows with Virtual Spaces, reaching new target groups beyond planned tour stops. Users can customize the content in the virtual environment according to their requirements, ensuring the right setup is quickly found for each format.

“With Virtual Spaces, we can collaborate digitally with clients on a new level on a secure infrastructure and create entirely new types of brand experiences,” says Holger Kern, Head of Metaverse at PwC Germany.

Establishing New Forms of Collaboration

As a web-based platform, Virtual Spaces offers maximum accessibility without entry barriers. The platform features numerous functionalities for many different use cases. At its core is the ability to establish a new, more direct, and personal form of digital collaboration through avatar-based interaction. Users can utilize the entire virtual space for their projects in this way – for instance, to visualize data, combine various media, strengthen team spirit, and create natural conversation situations. Virtual Spaces is fully integrated into the PwC IT infrastructure and can be used as a hub for everyday business.

“We are excited to have developed such an innovative and functional NewWork and B2B metaverse platform together with PwC and to bring it online now,” says Kristian Kerkhoff, Co-Founder and Managing Director of Demodern.

Currently, PwC Germany and Demodern are developing a VR version of Virtual Spaces, which is set to go live in the coming months.

Virtual Spaces was awarded at the German Digital Awards 2023.