Protiviti launches Protiviti Digital, specialised digital consulting arm

01 May 2017 Consultancy.uk

Global consulting firm Protiviti has launched ‘Protiviti Digital’, the firm’s response to increasing demand from clients for digital expertise and support. Jonathan Wyatt, a London based Managing Director in Protiviti’s Technology Consulting practice, has been tasked with leading Protiviti Digital’s endeavours. 

Digital has taken off in recent years. From the rise of complete new digital players, such as Airbnb or Uber, to the wealth of opportunities incumbents leverage through digitisation – technology led-innovation is transforming sectors and businesses across the globe. 

In the face of rapid digitisation, organisations are ramping up their digital adoption, often turning to external experts to help them throughout the process. Professional services firms, including management consulting firms, play an integral role in the space, supporting their clients with grasping the potential of digital, drawing up strategic plans, designing digital blueprints and the actual implementation of initiatives. 

Digital consulting

The movement has seen digital consulting emerge as the fastest growing segment of the global consulting market, an industry estimated to be worth around $250 billion. In the UK, the technology service line grew by 10% last year to almost hit £3 billion for the first time, according to data from Source Global Research, while the DACH region for instance saw growth of 8% in the segment, taking its market size to €2.4 billion. 

Protiviti launches Protiviti Digital

In a bid to tap into the growing demand, and better serve the multi-disciplinary facets that come with digital solutions, many of the larger consulting firms have in recent years launched dedicated Digital arms. Deloitte was one of the first, unveiling its Deloitte Digital brand back in 2012, and since dozens of peers have followed suit.PwC for example operates in the field with PwC Digital, Accenture has Accenture Digital (one of its five main business arms), while also the large strategy consulting firms have embraced the proposition: McKinsey & Company and Bain & Company both have separate Digital units, while The Boston Consulting Group (BCG) opted for a more standalone approach with BCG Digital Ventures. 

Protiviti Digital

The latest consulting firm to join the bandwagon is Protiviti, with more than 70 offices in over 20 countries one of the larger players specialised in finance, risk and internal audit. The firm has decided to bundle its existing digital expertise across a range of areas, including data and analytics, technology, internal audit, business performance, risk and compliance, into a new hub named ‘Protiviti Digital’. The new arm is capable of helping clients – mainly corporates; Protiviti has served more than 60% of Fortune 1000 – with their end-to-end digital challenges, says Jim Pajakowski, an Executive Vice President at the consultancy.

“Drawing on our global consulting expertise, Protiviti tailors cross-competency teams to fit the specific strengths, needs and requirements of our clients’ digitalisation programs”, he remarks. Jonathan Wyatt, a Managing Director who has been with Protiviti since 2004, when he joined from Deloitte, and charged with leading the new arm, adds, “We help our clients at any or all stages of transformation, so they can face the demands of the digital economy with confidence.” 

Among Protiviti Digital’s key offerings are Customer Engagement; helping customers explore new ways to build relationships with customers; Digitisation; supporting the launch of digital business models or automation of processes; Decision Science; supporting the use advanced data analytics to improve decision making; and Operational Performance; collaborating with clients in using technology to improve performance. Other propositions offered by the arm include Cybersecurity, Agile, Artificial Intelligence (AI), Cloud, IT Modernisation, Robotics, Internet of Things (IoT) and sector specific technology solutions such as FinTech or RegTech.

Asked about how Protiviti Digital will set itself apart from the rest of the consulting crowd, Wyatt points at the firm’s co-operative approach. “We engage collaboratively with our clients to create a deep understanding of the risks and opportunities presented by new and emerging technologies and to think creatively about how they can use these technologies to improve business performance.” A commitment to delivering tangible results is at the heart of the firm’s DNA (“we help create business and operational value today and in the future”), building on among others deep expertise, objective insights, a tailored approach which spans all sides of the digital spectrum (people, processes and technologies) and a decade long track record.

Protiviti Digital Services

Wyatt has over 20 years of experience in IT consulting, working with many of the largest companies in the world across a diverse range of industries, including financial services, energy and utilities, telecommunications, media and consumer products. He is one of the founding members of Protiviti’s operations in the UK (based in The Shard; London) and has for years led the IT strategy, governance and risk management practice globally. Other key leaders of Protiviti Digital are Kurt Underwood, a US based expert and global solutions leader of Protiviti’s Technology Consulting practice, and Scott Bolderson, a UK based Managing Director. Both have been with the consulting firm since 2004, although Bolderson took five years off between 2007 and 2012 to develop and run a successful pub and restaurant on the borders of Wales in Herefordshire. 

Across the firm’s footprint, Protiviti has appointed leaders that will oversee the deployment of Protiviti Digital in their respective markets, including in Germany, the Netherlands, the United Arab Emirates and Australia. 

To support the launch of Protiviti Digital towards the market, the consultancy has in recent months produced several thought leadership publications on the topic, including the white paper ‘Catching the Digital Wave of Change’. The firm’s 2017 edition of its annual ‘Internal Audit Capabilities and Needs Survey’ in addition dedicated considerable attention to digital, finding that internal auditing functions are ramping up their data science and analytics efforts. 

For more information about Protiviti Digital take a look at below video featuring Managing Directors Jonathan Wyatt and Scott Bolderson:

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Four ways digitalisation is transforming car brands and dealers

16 April 2019 Consultancy.uk

From changing expectations from the customer to new stakeholders entering the industry, the digital transformation of global automotive industry means it is facing the wholesale transformation of its business model. In a new white paper, global consulting partnership Cordence Worldwide has highlighted four major digital trends that are transforming the relationships between car brands and dealers with consumers.

With digital transformation drives booming across the industrial spectrum, automotive groups are no different in having commenced large digital transformation programmes to improve productivity, efficiency, and ultimately profitability. Falling sales figures mean the automotive sector is facing an increasingly difficult road ahead, something which means companies in the market are even more hard pressed to find new ways to improve their bottom lines.

While it offers major opportunities, the industry’s move to digitalise is not without complications. It has triggered a series of major internal changes, which have presented automotive entities with the challenge of becoming a “customer-oriented” industry. A new report from Cordence Worldwide – a global management consulting partnership present in more than 20 countries – has explored how automotive companies are navigating the rapidly changing nature of digital business.

New business models

The level of change likely to be wrought on the automotive industry by digitalisation is hard to overstate. Automation could well lead to significant reductions in the number of accidents, higher vehicle utilisation and lower pollution levels, while leading to a $2.1 trillion change in traditional revenues, with up to $4.3 trillion in new revenue openings arising by 2030.

As a result of this colossal opportunity, it is easy to see why almost all automotive groups now have digital departments, with generally strong communication within the digital transformation and the customer approach. The changes to society which this may have are potentially distracting automotive firms from the change it is leading to in its own companies though, according to Cordence’s paper.

The automotive market is dead, long live the mobility market

Because of this, the sector’s business model is set to transform over the coming decades. With digitalisation speeding up the appearance of concepts such as car-sharing, a subscription package model will likely become more palatable. At the same time, car and ride-sharing models will cater to the sustainability criteria of millennials, who will rapidly become one of the automotive market’s leading consumer demographics in the coming years.

Antoine Glutron – a Managing Consultant with Cordence member Oresys, and the report’s author – said of the situation, “These ‘old school industries’ are now working on creating new opportunities, but in so-doing are facing challenges and threats: new jobs, new technologies, new ecosystem of partners, necessary reorganisation, different relationship with customers, and even new businesses. The customer approach topic is in fact a real challenge for car companies as it implies changing their business model and adjusting their mind-set to address the customer 4.0: from product-centric to customer-centric, from car manufacturer to service provider.”

Digital customer experience

In the hyper-competitive age of the internet, even top companies face an uphill challenge when it comes to holding onto customers through brand loyalty. Digital disruption has resulted in changes to consumer behaviour, which is forcing a range of marketing strategists to reconsider their old, possibly out-dated strategies. As modern customers wield an increasingly impressive array of digital tools and online databases, they and are now able to quickly and conveniently compare prices, check availability and read product reviews.

The automotive sector is no exception to this trend, according to the study. In order to adapt to the needs of the so-called ‘customer 4.0’, car companies will increasingly need to change their business model and move away from product-centric companies to customer-centric ones, from car manufacturers to service providers.

Glutron explained, “As an automotive company, you can no longer expect customer loyalty simply with good products; you must conquer and re-conquer a customer that “consumes” your service. The offer now has to be global, digital and personalised. Your offer has to be adapted to this customer’s needs at any given moment. A key issue related to data control is to build customer loyalty by creating a customer experience 'tailored' throughout the cycle of use of the 'car product': purchase, driving, maintenance and trade-in of the vehicle.”

One way in which the sector may be able to benefit from this desire for a tailored experience is via connectivity. Consumers are generally positive about new connective features for automobiles, and many are even willing to pay upfront for infotainment, emergency and maintenance services. Chinese consumers, where the connected car market is set to hit $216 billion, are already particularly interested in paying a little more for navigation and diagnostic features in their future new car. This can also enable automotive companies to exploit a rich vein of customer data, enabling them to rapidly tailor their offerings to consumer behaviour.

New automotive segments

Digital transformation has also brought with it the rise of completely new application areas. As mentioned earlier, the most well-known example is the autonomous or self-driving car, where the last steps forward were not taken by major automotive groups but by technology companies such as Tesla. While this may have given such firms the edge in the market briefly, a number of keystone automotive names will soon be set to take the plunge into the market themselves, leveraging their car manufacturing prowess and huge production capacities to their advantage.

Before companies rush to invest in this market, however, it is worth their while to remember that the readiness and uptake for such vehicles differs greatly geographically. For example, following a study published in 2018, 92% of Chinese would be ready to buy an autonomous car, compared with only around 35% of drivers in France, Germany and US. Meanwhile, the infrastructure of different nations will also be significantly less accommodating of the new technology.

Use digital for steering thr activity

Elsewhere, Cordence’s analysis has suggested that hooking the cars of tomorrow into the Internet of Things is also likely to see a rapid change in the business model for car maintenance, providing real-time diagnostics for problems. This presents chances for partnerships to improve the connectivity of cars, especially with tech companies; for example, PSA partnered with IBM for a global agreement on services in their vehicle. Meanwhile, data could also be sold to other parties with an interest in this data, such as the government, which could use it to manage traffic levels, or ensure that only adequately maintained vehicles take to the road.

Glutron added, “With the increase in the amount of client data and connected opportunities, the recommendation is to set up data-centric approaches. The value is now in the customer data. The general prerequisites are to rework the data model and the Enterprise Architecture and generally build up a data lake including data from all sources (internal and external, structured and unstructured).”

From automotive to mobility

Relating further to the idea of connectivity, the report claimed that automotive firms must now adjust their models in line with the provision of end-to-end mobility, rather than treating the sale of a car as an end point in their relationship with the customer. In order to realise this transformation, transformations are likely to become more and more important.

A network of partner companies means automotive firms can provide a global mobility experience. As the vehicle is increasingly connected to its environment, new partners can also be cities, governments, and other service providers within the global mobility services industry in which the car brands want to take part.

According to the study, the target is clear. Companies must look to a holistic transport service, offering to move customers from A to B in a unique and pleasant way – otherwise they might as well take public transport. At the same time, they should extend the services reachable “on-board” (especially the enhancement of the connectivity between the car and smartphones or other connected devices), and reach high standards in terms of user experience (online sales, online payment, customised experience during and after the use of the car).

Concluding the report, Glutron stated, “These mobility market transformations could be considered a threat for the car manufacturers. Quite the opposite: if they take up the challenge and review their business model so that they become the service provider – communicating no longer to a driver but to a ‘mobility customer’ – they can then take advantage of their expertise and their position as a historical player. The most convenient means of transport are cars, and building a car is highly-skilled work.”