Physical, meet digital From factories to physician’s …...From factories to physician’s...
Transcript of Physical, meet digital From factories to physician’s …...From factories to physician’s...
35
CONTENTS
EXECUTIVE MESSAGE
PERFORMANCE
PURPOSE
STRATEGY
TALENT
EXECUTION• From factories to physicians’ offices,hightechisrevolutionizing routines• Transformingourcapabilitiesso thatclientscanrevolutionizetheirs• WhytalentmattersinIndustry4.0• WhyDeloitte’sleadershipmatters
TRANSPARENCY AND REPORTING
INDU
ST
RY
Physical, meet digitalFromfactoriestophysician’soffices,hightechisrevolutionizingroutines
Bringing dormant data to life There’sevidencethatanochre-basedpaintfactorymayhaveexistedinanAfricancave100,000yearsago.Bythe12thcentury,Venetianshipswereproducedonanassemblyline.Steamandhydraulicsadvancedmanufacturinginthelate1700s,asdidelectricityacenturylater,andcomputersacenturyafterthat.
Whathasn’tchangedmuchuntilrecently,though,isthesupplychain,whichtraditionallyislinearinnature—design,plan,source,makeanddeliver.But,advancesintechnologyandinnovationallowpreviouslyunconnectedsensors,processes,systems,andinformationacrossthesupplychaintobeeasilyconnectedinrealtime.Theresultisavastlydifferentdigitalsupplynetwork,andit’spoweringtheriseofsmartfactories.
“Thesmartfactoryhasafullyconnectedandflexiblesystem—onethatcanintegratedatafromsystemwidephysical,operationalandhumanassetstodrivemanufacturing,maintenance,inventorytracking,andmanyothertypesofactivitiesacrosstheentiremanufacturingnetwork,”explainsDougGish,DeloitteConsultingLLPprincipalandUSsupplychainleader.“Thosewhoembracethatapproachandarewillingtomaketheinvestmentstandtopotentiallyincreasemarketshare,efficiency,productqualityandcustomersatisfaction.”
DeloitteConsultingLLP(US)ishelpingaclient—aglobalmachinerymanufacturer—connectitsdigitalandphysicalchannelsbydigitizingend-to-endfactoryoperationsfromthepointofmanufacturethroughinspection.Intheprocess,productionstepsthatwerenotvisibleinthepastarelightingup.
Deloitte’scross-functionalteamcreateda“livefactory”usinginternetofthings(IoT)technologybyattachingsensorstomachinery.Movement,location,timespentperstationandqualityeventsweretrackedandrecordedinrealtimeusingGPSandRFIDsensors.“Thisecosystemofbusinessequipmentandsensorsprovideddatathathelpedtheteamdevelopappsanddashboards,effectivelybringinga‘hiddenfactory’ofdormantdataandinsightstolife,”saysAndyDaecher,DeloitteConsultingLLP(US)principalandDeloitteDigitalIoTpracticelead.“Thisishelpingimproveproductquality,reduceproductiontime,allocateresourcesmoreefficientlyanddecreasetheirfinished-goodsinventory.”
EXECUTION
36
CONTENTS
EXECUTIVE MESSAGE
PERFORMANCE
PURPOSE
STRATEGY
TALENT
EXECUTION• From factories to physicians’ offices,hightechisrevolutionizing routines• Transformingourcapabilitiesso thatclientscanrevolutionizetheirs• WhytalentmattersinIndustry4.0• WhyDeloitte’sleadershipmatters
TRANSPARENCY AND REPORTING
INDU
ST
RY
Newdashboardsfedwithreal-timeinformationshowthepriorityofmachinesinneedofservice,aswellastheamountofreworkrequired.Withthisknowledge,employeesshouldspendlesstimelocatingmachines,theflowofproductioncanbeimproved,andnonconformancewouldbeeasiertomanageandtrack—whichcanexpediteroot-causeanalysisandcorrectiveaction.Theseimprovementsalonecouldimprovetheclient’sreturnoninvestment20percentto30percent.Betterinventory,scrap,andlabormanagementalsoshouldlowercosts.
NowthattheclientseestangiblebenefitsfromintegratingIoTwithitsphysicalassets,itcanexploreexpandingandincrementallyconnectingotherlinesandfactories.“Notonlywouldthatfurtherimproveitsanalyticscapabilities,workflowtransparencyandoverallefficiency,”saysDougBade,principal,DeloitteServicesLP(US),“butitalsowouldhelpimprovetheirinteractionswiththeircustomers,enablingthemtomeetandexceedtheexpectationsthatdigitaltechnologyisdriving.”
Connecting with patients Themergingofthephysicalanddigitalworldsseemstoalsobehelpinghealthcareproviders,caregivers,pharmaceuticalcompanies,payersandothercareteammembersunderstandtheirpatientsbettersotheycanprovidetailoredsupportthatdelivershealthieroutcomes.DeloitteConsultingLLP’s(US)ConvergeHEALTHPatientConnect™platformprovideslifesciencescompanieswithtoolsandinsightstohelpbuildeffectiverelationshipsbetweenpatientsandtheirextendedcareteams.
“PatientConnectisdesignedtoimprovehumaninteractionandenablemore-personalizedserviceusingavarietyofdigitalchannelsandanadvancedandflexiblecloudsoftwareplatform,”explainsChrisZant,principal,DeloitteConsultingLLP(US).“Patientswanttobeinformedandengaged,andpharmaceuticalcompanieswantcloserconnectionstotheirpatients.Ourplatformcandobothwhilehopefullyimprovingthecoordinationof,andadherenceto,careprogramsandotherpatient-supportinitiatives.”DatacollectedbyPatientConnectacrossawidepatientpopulation—informationthatremainssecureandprivate—alsofeedsresearchanddevelopmentefforts,creatingopportunitiesforinnovationandimprovedoutcomes.
Inadditiontonewprocessesthatimprovespecialtypharmacyreferrals,patientintake,documentmanagement,datasharingandmore,PatientConnectcontinuestointegrateprepackagedsolutionsfromitsecosystemassociates.Onegivescaregiversandpatientstheabilitytosigndocumentselectronically,whichcanspeeduptheprocessesofgettingconsent,verifyingbenefitsandsubmittingprescriptions.Anotherusespowerfultelephonyandcloudcontactcentercapabilitiessothatwhenapatientcalls,careteammembersandcustomerserviceagentshaveallrelevanthistoricalinformationattheirfingertips.PatientConnectwasalsoapprovedtobedeliveredexclusivelythroughSalesforceAppExchange,makingiteasiertoimplementthanmanycompetitors’patient-engagementsolutions.
“Theseenhancementshavesignificantlyimprovedthepatientexperienceandstreamlinedprocessesforproviders,”Zantsays.“There’slessphysicalpaperwork,lesshassleandlesstimewasted—whichshouldleadtolessfrustrationforpatients,lowercostsforprovidersandmore-personalizedcare.”
Integrating AI into hospital care Operationalprocesseswithinhospitalsarealsoundergoingfundamentalchange.AsuiteofsolutionsintroducedbyDeloitteAustraliaishelpingdrivethatchange,covering“classicpinchpoints”fromadmissionsandoutpatientschedulingtointensive-careunitutilization,andthedischargeprocess.
OneofthosesolutionsisD.Assist,alean,enhancedpatient-to-nursecommunicationsystemthataugmentstheexistingcall-bellsysteminplaceinmosthospitalsandaged-carefacilities.“Throughtheinnovativeuseofleadingtechnology,D.Assistimprovesthepatientexperience,releasesnursingtimetocareforpatients,andprovidesarichsourceofdataforhospitaladministratorstoactontooptimizepatientcareoutcomes,”saysNickWhite,ConsultingprincipalandRoboticsandCognitiveAutomationteamleaderforDeloitteAustralia.“Italsoprovidesnursesandthemedicalteamcriticalinformationneededtoeffectivelyrespondtopatients.”
D.Assistcapturesaspokenrequestforassistanceinthepatient’sroom,whichisunderstoodbythesystemandconvertedtotext.Themessageisthenassessedusingartificialintelligenceservicesandprocessedtoidentifythepatient’srequestandhowbesttorespond.
37
CONTENTS
EXECUTIVE MESSAGE
PERFORMANCE
PURPOSE
STRATEGY
TALENT
EXECUTION• From factories to physicians’ offices,hightechisrevolutionizing routines• Transformingourcapabilitiesso thatclientscanrevolutionizetheirs• WhytalentmattersinIndustry4.0• WhyDeloitte’sleadershipmatters
TRANSPARENCY AND REPORTING
INDU
ST
RY
Inmanycases,D.Assistisabletorespondtothepatientfromadatabaseoffrequentlyaskedquestions,relievingworkloadfromnurses.Thesolutioncanevenbecombinedwithintelligentroomautomationtoenablesmartcontrolsofthepatientenvironment.
“Deloitteisworkingwithanumberofhospitalsaroundtheworldtoimplementthisandarangeofcomplementarysolutionsacrossthepatientpathway,”Whitesays.“Byprovidingthesecognitivesolutionstothemarket,wearetransformingDeloitte’sroleinthehealthcareindustryglobally.”
Building a digital insurer EconomicalInsurancewasfoundedin1871byagroupofCanadiancitizenswhopooledtheirresourcestoprotectoneanother.Itwasasimpleconceptforasimplertime.ThroughitsSonnetInsurancesubsidiary,Economical—withDeloitteCanada’shelp—ismakinginsuranceuncomplicatedagain.
“Themanagementteamhadavisiontobuildadirect-to-consumer,digitalinsurancecompanythatcouldgivepeopleanaccuratequoteiftheyansweredjustthreequestions,”saysAliceKeung,EconomicalInsurancechieftransformationofficer.“Thatwasastretchgoal,butwesuccessfullycreatedasitewherecustomerscouldeasilybuyinsurancefortheircarsorhomesinfiveminutes.”
ThesecrettoSonnet’sspeedisthewayDeloitteCanadaintegratedreal-timeanalytics,asophisticatedITinfrastructureandthird-partysoftwaretosimplifythepurchaseexperienceandhelpSonnet’scustomersmakeinformeddecisions.“Attheoutset,weconductedethnographicresearch—whichshowshowpeopleactuallybehaveversushowtheysaytheybehave—tobuildthiscompanyfromthegroundup,”saysDanielShum,DeloitteCanadaleadengagementpartnerforSonnetInsurance.“Basedonwhatwelearned,together,wecameupwithacustomerexperiencethatissimple,easytounderstandandgivescustomersconfidenceSonnetwillbethereforthem.Thisisbackedwithfastandreliabletechnologythatdrasticallystreamlinesthequoting,sales,servicingandrenewalprocesses.”
SonnetiscurrentlytheonlysolutioninCanadathatallowscustomerstofullypurchaseandservicetheirinsurancepoliciesdirectlyonline.
Smart transactions Inthepastfewyears,blockchainhasevolvedfromawordthatoftenrequireddefinitiontoacommoncomponentofclientsolutionsacrossDeloitte’sbusinesses.OnesuchtoolisTradeChain,asystemdevelopedbyDeloitteTaxLLP(US)thatbringsconsensus,consistencyandaccuracytointercompanyagreements.
Transactionsbetweendifferentunitsofmultinationalcompaniescanbechallengingfromacompliancestandpoint.Therealsoaremanyadministrativelagsandmanualprocessestypicallyneededtoimplementpricingagreementsbetweenrelatedparties.TradeChainisdesignedtoaddresstheseissuesbyusingaprivateblockchainandsmartcontract-likeautomationthatenablestheexecutionoftransfer-pricingagreements.
“Mostintercompanyagreementsarehardtoformulate,difficulttoregulateandtoughtoexecutebecausethepartiesoftenareworkingwithincompleteinformationspreadacrossmanysystems,”explainsRobMassey,partner,DeloitteTaxLLP(US).“So,transactionsoftenendupwitherrors,deadlinesgetmissedandriskincreases.”
WithTradeChain,technology-enabledcontractsaretriggeredbybothinternalandexternalbusinessactivities,interfacinginrealtimewithpeopleintax,treasury,legalandaccounting.Theblockchainvalidatestransactions.Futureversionsareexpectedtousecognitivetechnologiestodriveadvancedpredictiveanalyticsanddecisionmaking.
SamKapreilian,DeloitteGlobalTax&Legalchieftechnologyofficer,says,“SoonafterTradeChainwasintroducedandclientsbeganseeingit,itdidn’ttakelongtoseehowitscognitiveandadvancedanalyticstechnologiescansystematicallyimprovequality,decisionmakingandoutcomes.”
38
CONTENTS
EXECUTIVE MESSAGE
PERFORMANCE
PURPOSE
STRATEGY
TALENT
EXECUTION• From factories to physicians’ offices,hightechisrevolutionizing routines• Transformingourcapabilitiesso thatclientscanrevolutionizetheirs• WhytalentmattersinIndustry4.0• WhyDeloitte’sleadershipmatters
TRANSPARENCY AND REPORTING
INDU
ST
RY
The art of the possibleTransformingourcapabilitiessothatclientscanrevolutionizetheirs
Elevating the audit Historyislitteredwithinnovationsthatwitheredfromneglectbecausetheycosttoomuchorbecausefewunderstoodtheirpracticaluses—evidencethatfewinstitutionalskillsaremorevaluablethanbeingabletograsptheartofthepossible.
“Helpingclientsvisualizethebenefitsofinvestinginexponentialtechnologies—andthenworkingwiththemtomakethosevisionsreality—drivesbusinessprogressandadvancessociety,”saysAndrewVaz,DeloitteGlobalchiefinnovationofficer.“That’swhywealsocontinuallyadvanceourowncapabilitiesandreinventourselvesinthecontextofwhatispossible.”
Intheauditandassuranceworld,possibilityisfastbecomingreality.Substantialportionsofpublicandprivatecompanyaudits—alreadyenhancedbyautomationandanalytics—willbeincreasinglyaugmentedbycognitivetechnologies.“Deloitte’sinvestmentsintransformingtheauditareenrichingtheexperienceandrelationshipbetweentheauditor,clients,capitalmarketsandbroaderecosystem—elevatingtheauditfromanobligationtoanopportunity,”saysPanosKakoullis,DeloitteGlobalAudit&Assurancemanagingprincipal.“Intheprocess,theseinvestmentsareelevatingauditqualityandconsistency.”
Deloittehasbegunusingcognitivetechnologyinauditstoreviewcontractterms,leases,electronicdocumentsandmore.“Therapidreviewsenabledbycognitivetechnologyallowauditorstoreviewandassesslargersamples,orevenreview100percentofthecontracts,”explainsJonRaphael,partnerandchiefinnovationofficer,Deloitte&ToucheLLP(US).“Thereviewscanalsoincorporatesegmentationofdocuments,suchasseparatingcontractsthatincludeescalationclausesfromthosethatdonot.Wecanthenaddvisualizationcapabilitiestoeasilyshow,asanexample,whichdocumentsdifferfromwhatisexpected.”
CognitiveapplicationsarejustpartofDeloitte’snext-genaudittechnologyplatform,whichwillbecloud-basedanddata-driven.“Wehaveanumberofseparatetoolstoday—capabilitiesthatalreadyaredifferentiatingus,”saysMikeSchmidt,DeloitteGlobalAudit&Assurancechieftechnologyofficer.“Ourfocusnowisonseamlesslyintegratingalldata,tools,analytics,methodologiesandprojectmanagementfunctionalitiesintoasingleplatformtoperformconsistentauditsaroundtheglobe.”
SchmidtpointstoDeloitteConnect—asecure,onlinecollaborationsitethatfacilitatestwo-waydialoguebetweenauditteamsandclientteams—asjustoneexampleofhowDeloitteissettingitselfapartinthemarketplace.“Alotofpeoplearetalkingaboutholistic
39
CONTENTS
EXECUTIVE MESSAGE
PERFORMANCE
PURPOSE
STRATEGY
TALENT
EXECUTION• From factories to physicians’ offices,hightechisrevolutionizing routines• Transformingourcapabilitiesso thatclientscanrevolutionizetheirs• WhytalentmattersinIndustry4.0• WhyDeloitte’sleadershipmatters
TRANSPARENCY AND REPORTING
INDU
ST
RY
strategiesandbuildingforthefuture,butwe’reactuallydoingit,”hesays.“Insteadofdippingatoeinthewater,wedoveinthedeependandareputtinginnovativesolutionsinthehandsofourprofessionalsaroundtheworld.”SchmidtaddsthatAudit&AssurancealsoisexperimentingwithWeb-basedroboticprocessautomation(RPA)toolsthatexpeditepreparationandreviewofstandardauditprocessesandtasks.
Solutionsindevelopmentincludeasuiteofbig-datatoolsthatcancreatecustomizedauditproceduresusingpredictiveanalyticsandregressionanalysis.Thesetoolsenableauditorstodelivermorevalue,enhanceriskidentification,andidentifypatternsandtrendsthatcanleadtoaccounting,operationalandcontrolinsights.Deloittealsohasintroducedcollaborationtoolsthatprovidetransparencyacrossmultiplestakeholdersinprocessesusedforconfirmingbalancesandcountinginventories.
Inaddition,Deloitteisusingnewdiagnosticscapabilitiestomonitorliveauditengagements.“Wecancreatereportsbasedonmorethan160,000liveauditengagementsthatgiveusnew,strategicperspectivesintotheAudit&Assurancepracticeandareallowingustotransformthewayauditqualityismonitored,”explainsCalBuss,DeloitteGlobalAudit&Assurancequalityleader.“Thesecapabilitiesprovideanunprecedentedlevelofinsightandtransparencyforourleaderssotheycanbetteraddresswhatismeaningfulforourstakeholders.”
Launching an internal startup AnexampleofDeloitte’sdedicationtotransformationalinnovationisAuvenir,afirst-of-its-kindstartupventureestablishedtoradicallychangethefinancialauditspace.“Deloittebroughttogetherentrepreneurswithvariedbackgroundsandchallengedthemtodisrupttheauditbusiness,”explainsChrisThatcher,DeloitteGlobalAudit&Assuranceinnovationleader.“TheyweregivenasmuchleewayaspossiblewhileprovidingaccesstoDeloitte’scapabilities.”
Auvenir’sautonomousstructureenablesittoquicklydevelopandtestproductsbasedonreal-timemarketfeedback.Thisflexiblesolutionappliesthelatesttechnologies—includingcloud-basedstorage,machinelearningandartificialintelligence—tostreamlineandimprovethequalityoftheworkflowbetweenauditorsandtheirclients.
“TheAuvenirbusinessmodelisverydifferentbecause—whilethetechnologyplatformisspecificallydesignedtoaddresstheunmetneedsofsmallerengagements—itisfocusedonbuildingtoolsthatcanbeusedbyallaccountingfirms,bigandsmall,andnotjustforinternalDeloitteuse,”explainsAuvenirCEOPeteMyers.“Asthetoolsareusedmoreanddataflowingthroughtheplatformincreases,ourunderlyingmachinelearningtechnologykicksinandenablestheplatformtobecomesmarterovertime.Byopeningtheplatformsobroadly,wecanstrengthentheentireindustry.”
AuvenirwillsoonemergefrombetatestingconductedwithseveralsmallauditfirmsinCanada.“Weselectedfirmswhocannimblytestnewtechnologiestoprovidefeedbackthatdrivesrapiddevelopment,”Myerssays.“ThisapproachallowsAuvenirtoworkcollaborativelywithauditorsontoolsthatautomatemuchoftheaudit,whichwillfreethemuptobuildstrongerrelationshipswiththeirclientsandprovidedeeperbusinessinsights.”
Investing in exponentials Deloitteisalsoaggressivelyintegratingtransformationaltechnologiesanddataanalyticsintoitsnonauditsolutionsandservices.
OurFinancialAdvisorybusiness,forexample,isadoptingmultipleplatformstosupportclientswithnewlevelsofinsightandexperiencetohelpthemsolvecomplexbusinessproblems.Amongthem:
• AsophisticatedforensicdigitalplatformthatbuildsonDeloitte’spioneeringuseofanalyticsandtechnologytohelpclientsidentifyinefficiencies,anomaliesandissuesintheirsystems—andprovideproactivesolutionstoaddressthem.Theplatformenhancesourprofessionals’abilitytoquicklyandeffectivelyrespondtoacriticalfinancialcrimeevent,giveadeeperandmorecompleteunderstandingoftheissuesleadingtothatevent,andprovidestrategiestopreventfutureproblems.
40
CONTENTS
EXECUTIVE MESSAGE
PERFORMANCE
PURPOSE
STRATEGY
TALENT
EXECUTION• From factories to physicians’ offices,hightechisrevolutionizing routines• Transformingourcapabilitiesso thatclientscanrevolutionizetheirs• WhytalentmattersinIndustry4.0• WhyDeloitte’sleadershipmatters
TRANSPARENCY AND REPORTING
INDU
ST
RY
• ValueDandiDealareanalyticsplatformsthatallowDeloitte’sMergersandAcquisitionspractitionersinmanycountriestoquicklyunderstandtheirclients’complexsituations.Inadditiontovisualizingdatainrealtime,theseplatformsprovideadvancedinsightsonmultiplelevels,includingindustrybenchmarks.
DeloitteCyberIntelligenceCentersaroundtheworldprovidefullycustomizablesolutionstohelporganizationsproactivelydetect,respondandrecoverfromsecurityevents—makingthemmoresecure,vigilantandresilient.TheseCyberIntelligenceCentersoperatearoundtheclock,providingadvancedsecurityeventmonitoring,threatanalytics,cyberthreatmanagementandincidentresponsetohelporganizationsstrengthentheircybersecurityposture.ForacloserlookintoDeloitteCyberIntelligenceCenters,duringFY2017,GlobalRiskAdvisoryhaslaunchedtheuseofvirtualreality“tours”toprovideclientswithanimmersiveexperienceandabehind-the-scenesviewofCyberIntelligenceCentersinaction.
Tax&LegalexpandeditsecosysteminFY2017throughsixallianceswithautomation,cognitiveandblockchaincompanies.Additionally,ourBusinessProcessSolutions(BPS)andTaxpracticeshaveformedfivestrategicagreementswithroboticprocessautomation(RPA)vendorsandcreatedanRPAcenterofexcellence.DeloitteTax&Legalpracticesalsoenhancedclientconnectivitybyintroducinginnovativetechnology-enabledsolutionsacrossallserviceareasthroughanewdigitalrelationshipplatform.
Amongthemanytech-enabledinitiativesthatwillimpactDeloitteConsultingpracticesaroundtheglobeistheCenterfortheLongView,whichspecializesinlong-rangescenarioplanning.TheMonitorDeloitteunit,locatedinGermany,hasdevelopedartificialintelligenceandonlinecollaborationtoolsthatdramaticallyincreasethequalityofscenarioswhilereducingprojectcosts.ItultimatelycouldserveasaprototypeforthecomprehensivedigitalizationofDeloitte’sconsultancyservicesaroundtheworld.