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How do you future proof your organisation? Get fit for VUCA

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The rapid speed of change in business is no state secret. Military planners, amongst others refer to the current environment as VUCA. In this context volatility, uncertainty, complexity and ambiguity change the dynamics of engagement and in Financial Services, disruptors are intensifying, requiring a decisive focus on Human Capital.

  • How do you lead your people though change effectively?
  • How do you derive value from the hurdles of regulation?
  • How do you make sure you have the most capable people?
  • How do you set the tone at the top?
  • How do you get your HR function to lead you though a VUCA world?
  • How will your people make or break your expansion into new territories?

Do you have the answers?

Deloitte named leader in Global Risk Management Consulting Services

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“Of the industry recognition Deloitte has earned over the years, this placement from Gartner ranks among the top,” said Adel Melek, Managing Director, Enterprise Risk Services, Deloitte Global.

The Gartner report evaluated seven global firms and networks on three dimensions of risk management — framework, metrics, and systems. Within the quadrant graphic included in the report, Deloitte member firms’ risk management consulting services were positioned highest on the “ability to execute” axis and furthest on the “completeness of vision” axis.

Deloitte integrated its risk and security capabilities into one RM practice a few years ago and this is what has placed Deloitte as number 1. Deloitte considers this positioning as a ‘Leader’ as a reflection of its member firms’ commitment to helping clients integrates risk management into the business.

Key Strengths in Deloitte’s Possession 

  • Market responsiveness — Deloitte is usually quick to adapt and adjust to market conditions when compared with its peers. The company has strong strategic alliances and continues to close gaps of capabilities through working with organisations such as Kaggle (a data analytics firm) and Singularity University.
  • Vertical/industry strategy — Deloitte has invested in building capabilities in highly regulated industries, such as financial services, consumer, energy and resources, healthcare, life sciences, and the public sector, as well as for supply-chain-dependent enterprises.
  • Operations — Deloitte leverages its Centre for Corporate Governance, its GRC COEs, and its specialist and vertical-led COEs, such as its Centre for Risk Modelling and Simulation. These centres encapsulate digital studios, security and forensics labs, analytics labs (for example, Highly Immersive Visual Environment [HIVE]), and Greenhouses across the world.
  • Product or service — Clients recognise Deloitte’s strengths in thought leadership, RM experience and brand reputation. Deloitte also has chief risk officer (CRO) and chief information security officer (CISO) outreach programs through its risk academy education programs within its global leadership centre, Deloitte University.

Expertise and professional advice is essential. Deloitte has specialists across many business models that can help with all aspects concerning Risk and Advisory

Click here to read the report 

Navigating your SAP Development Team down SAP River

Large and medium enterprises are sunsetting their “systems of record” and embracing the more futuristic “systems of engagement”. To do this businesses have to embrace In-Memory solutions with a rich User Experience (UX). It was only a matter of time when the application development environments and tools caught up to help deliver these In-Memory solutions with a rich UX.

Enter: SAP River.

In fact SAP River has been in quiet hibernation from early 2010. The SAP River Development Language, or RDL, leverages the SAP HANA platform in order to offer powerful integration; with rich UI elements as a standard. Recently named SAP Web IDE (Integrated Development Environment), it is an approach to develop entire business applications native to SAP HANA. Traditional SAPUI5 and Fiori like applications are easily developed from this.

From a technology viewpoint, the answer today seems to revolve around creating the art of the possible and allowing business to engage with their systems, using smarter and similar applications which run in real-time. SAP River thrives in use cases which involve brand-new data models and highly complex data processing from multiple sources.

Comparison between traditional ABAP on SAP HANA and SAP River (Web IDE) on SAP HANA:

  SAP ABAP SAP River (Web IDE)*
Architecture Applications follow a traditional 3-Tier Architecture Applications follow a 2-tier Architecture
Programming Language Traditional ABAP/ ABAP OO with options to use SAP HANA River; server-side JavaScript  and SQL/SQL Script
Development Tools Eclipse-based ABAP Development Tools Eclipse-based SAP HANA Studio  and web IDE

* SAP Web (Integrated Development Environment)

There is no doubt the In-Memory solutions with rich UI’s are here to stay. Business leaders are quickly recognizing that there is a need for very simple, user-friendly applications that can be quickly optimized for advanced In-Memory technology.

IT leaders and Business leaders alike need to be aware that they must have the necessary skilled resources available to them, in order to take advantage of these In-Memory systems of engagement. The risk businesses run is falling victim to not knowing what is possible with the state of the art software they own.

It’s very clear that leaders of today should start thinking about how their organizations can be better be equipped to take advantage of this.

For more information and experienced insight you can contact Arun Jagroop or Michael Bell

Salesforce Spring ’15 Release Brings Maps-Based Features

geolocation mapping Have you ever wished that Salesforce could handle your customer address details a little bit better? Maybe even suggest  and provide auto-complete functionality? Or that you don’t have to buy an AppExchange app in order to get decent street maps on your records based on the location or address details?

If you have, you are not alone. Over the years maps have remained a hot topic, and since the change in Google map’s licensing a few years back, the Salesforce ecosystem has seen a rise (and success) of 3rd party mapping apps. Finally Salesforce has come to the party and has announced that in the Spring ’15 release, svisualforcealesforce will be offering new map-based features.

This feature provides users with street maps, which are obtained via geocoding technology or existing geographic coordinates, and suggested address values based on partial entries.

The maps display on standard address fields and address suggestions will be auto-enabled in production instances as part of the Spring ’15 release.

Questions? Concerns? Not sure if you need to opt-out or in? Contact Charly Prinsloo to find out where we can help.

If you have missed the official notification that was sent out recently, the full body of the notice is provided below.

What is the change?
With the Spring ’15 release*, we are offering new map-based features:

  • Display of map images where any standard address field is sufficiently populated**. This functionality will be available through the desktop interface and the Salesforce1 Mobile app.
  • Standard Visualforce components for map creation.
  • Address suggestion and auto-completion available when editing address fields.

We’ve partnered with a third-party mapping provider to make these features work seamlessly within the application.

*Currently targeted for February 2015; date subject to change
**To qualify for maps display, the Spring ’15 feature requires that the address must meet the following criteria: (street AND city AND (state OR postal code OR country). Criteria is subject to change for future releases.

How will this change impact me?
Please review the following information before proceeding: This feature provides users with street maps, which are obtained via geocoding technology or existing geographic coordinates, and suggested address values based on partial entries. This functionality requires Salesforce to share physical address or geographic coordinate information that you or your organization have previously uploaded into Salesforce with the third-party mapping provider.

With respect to the origination of the request, the only identifiable information shared with that third party is the IP address and source location.

  1. The shared IP address will be the one associated with the individual requestor.
  2. If you use a custom Salesforce domain (e.g. Salesforce’s “My Domain” feature or for your Communities, Force.com, or Site.com sites), the custom Salesforce domain name you have selected may be included in the information sent.
  3. If you do not use a custom Salesforce domain, then the location.force.com domain will be used.

While the address and geography information is publicly available, the mapping provider nonetheless applies confidentiality and security measures to the data that it receives from Salesforce to provide this functionality, and Salesforce does not share any other identifiable information, such as contact name or any other record information with them.

What action must I take?
The maps display on standard address fields and address suggestions will be auto-enabled in production instances* as part of the Spring ’15 release. If you wish to disable this technology, please notify Salesforce by December 3rd, 2014. To submit an opt-out request, please complete the following steps**:

  1. From your Salesforce org, click to access Help & Training
  2. Click on Contact Support
  3. Click on Open a Case
  4. Select “Feature Opt Out” from the ‘I need assistance with’ picklist
  5. Select “Mapping Services Opt Out” from the Product Topics picklist
  6. Click Submit

*Sandbox instances will require the customer to opt-in to the map feature regardless of when they receive the Spring ’15 release.
**You will need to submit a request for each org that you wish to opt out.

Questions? Concerns? Not sure if you need to opt-out or in? Contact Charly Prinsloo to find out where we can help.

Using analytics and monitoring to address improper payment risk

caught in the middle

Overpayments, duplicate payments, underpayments, payments made without substantiation are all too familiar topics in government sector dealings and transactions.

Click here to read the full article

The growing call from the public and politicians to identify, report and mitigate or at least minimise the effects of waste, fraud and corruption, abuse and errors is reflected in stricter laws and regulations and sustained public outcry against such indiscretions.

Most business leaders, especially prime contractors to government, and civil servants recognise that these expectations to proactively deal with the scourge of fraud and corruption will likely lead to an increase in investigations with the purpose of recovering irregular payments. However, these stakeholders may not understand the extent to which they need to detect, respond and prevent fraudulent activity.

Rather than relying primarily on whistle-blowers and tips to unearth problems, it has become imperative for government and business alike to start using sophisticated analytics to identify and investigate irregular payments that have already been made. Some government institutions and businesses are beginning to use predictive analytics and near-real-time transaction monitoring tools to catch errors before payments are made.

These changes have implications for both prime suppliers/contractors and subcontractors/suppliers. Prime contractors/suppliers are generally subject to greater scrutiny into their use of subcontractors/ suppliers. The prime contractors/suppliers are responsible for irregular payments made to their subs, even if they are not aware of, or involved in, the irregular or fraudulent action/payment.

How can companies lessen the risk of becoming a national news story due to irregular payments caused by misdeeds of a subcontractor or its own employees? Also, from an internal operational efficiency perspective, how can they curb their own losses attributable to fraudulent payments?

Click here to read the full article

What are the concerns and strategic focus of the JSE Top 100?

Dissecting Disclosures

Deloitte has released the second edition of Dissecting Disclosures: Benchmarking the JSE top 100, which analyses the Johannesburg Stock Exchange’s (“JSE”) top 100 companies. On embarking on this research, we wanted to use disclosures in annual reports and integrated reports to understand the profile, concerns and strategic focus areas of these listed companies. Interestingly, this research has uncovered key insights relating to three areas, namely, transformation, Africa expansion and the risks of operating in South Africa.

The Risks of Operating in South Africa

The external risks disclosed in annual reports by the JSE top 100 talk to the issues plaguing South Africa’s economic expansion and global competitiveness. The JSE top 100 has very clearly spelt out the challenges faced in operating in South Africa.

A large number of risks were disclosed by the JSE top 100 relating to the significant uncertainty, changes and complexities in our regulation across several industries. Financial services, resources and healthcare are inundated by a significant amount of change. This correlates with the World Economic Forum’s (WEF) competitiveness survey in which South Africa was ranked 120th out of 144 countries for the perceived heavy burden of legislation. The uncertainty around these changes makes South Africa less competitive in a world in which many developed economies are focused on reducing red tape to improve their own competitiveness.

Is our government’s commitment to reducing red tape limited to bureaucracy, or could the legislative burden also be addressed?

Transformation in the JSE

Transformation was identified by several companies as a key strategic risk. Thirty-two percent (32%) of boards are black, and 18% are female. In terms of race, the JSE top 100 appears to be meeting the minimum requirements of the various transformation charters established, but there are few examples where companies exceed those targets.

Boards remain dominated by white males and gender transformation remains a challenge. With increasing focus abroad and in South Africa on gender, the JSE top 100 has some way to go in attracting and retaining top female talent.

South Africa’s Africa strategy

Africa is high on the agenda of several companies. With South Africa’s economic growth forecast at 2% for 2014 (World Bank), the move into Africa in pursuit of higher growth, while challenged at home by regulation and various other external risks appears to be a theme in the JSE top 100. Nearly half the JSE top 100 identified Africa explicitly as a strategic focus area. However, when measuring its contribution to revenues, only 1% was derived from operations in Africa outside of South Africa.

When analysing the expansion focus by South African companies into the rest of Africa, sub-Saharan Africa is clearly favoured, with Nigeria and Zambia being the most commonly referred to countries for expansion, followed by Ghana, Mozambique and Namibia.

The outgoing Governor of the South African Reserve Bank, Ms Gill Marcus, noted last year that South Africa’s growth could be strengthened if South Africa became more closely entwined with Africa’s growth trajectory. This can only be achieved with increased exposure to the rest of our continent and it is comforting to see the focus in strategy, but disappointing to see the actual exposure.

For more insights, or to read the full report, click here.

 

 

 

How will you lead your people through ever-shifting change effectively?

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VUCA – an environment of relentless Volatility, Uncertainty, Complexity and Ambiguity. In this world, financial services institutions need to guide their people through constant change effectively, while maintaining their relevance and ensuring their future survival.

How will you lead your people through ever-shifting change effectively?

Change is changing. The way organisations approach and manage it is changing. And the practice of strategic change should adapt as well if it is to deliver the results organisations should have to survive and excel. Deloitte has released three papers which unpack the key issues leaders must unlock in order to remain relevant in a VUCA world.

Create rapid and sustainable change using your own colour palette is a piece that introduces the concept of “People Adoption”. People Adoption is a deliberate process that enables all employees to understand the reasons for change, the expected results, how this change will impact them, how they will benefit from this change and what they need to do to sustain this change. Once there is understanding, people start to change their behaviour – incrementally at first and then gain momentum.

Riding the waves of change: building an internal change capability examines the five factors to building and institutional change capability. Whether due to globalisation, new technologies, regulatory factors, increased competition, changing consumer profiles or a host of other factors, organisations will typically have waves of change initiatives to drive new operating models, technology implementation, customer service, cost reduction and process improvement.

Change programs fail to deliver the outcomes their sponsors seek. The reasons are manifold, but a common thread is wasted effort and time. One of the most critical needs is to accelerate change programmes – to reduce the wasted time that ill-directed or ineffective measures can cost an organisation. In Organisation Acceleration: the new science of moving organisations forward, we unpack a new framework for strategic change, called Organisational Acceleration, which harnesses analytics to guide a business in a more timely manner and more efficiently.

Click here to read Create rapid and sustainable change using your own colour palette

Click here to read Riding the waves of change: building an internal change capability

Click here to read Organisation Acceleration: the new science of moving organisations forward

How do you future proof your organisation?

VUCA1

The world is changing, fast. We live and operate in a constant state of turbulence. Military planners (amongst others) have an official term for it. They call it VUCA – an environment of relentless Volatility, Uncertainty, Complexity and Ambiguity. In this state of VUCA, events coming at an organisation are increasing both in number and variety – at an unforgiving speed. It is survival of the fittest and the triumph of the most agile.

The VUCA World of today means that events coming at an organisation are increasing in number and variety and organisations need to respond quickly to these events in order to survive in the future. The South African Financial Services Industry is hurtling towards a VUCA World in a new way. Barriers are being eroded, competitors are emerging from non-traditional sectors and global players are here to stay.

You may be asking: how do I future-proof my organisation in a VUCA world?

In the next six weeks, Deloitte will help you answer six key questions that will enable you to not only future-proof your organisation, but triumph in this new world. Keep the human in Human Capital and thrive in a VUCA world is the first in a series of articles which will examine the building blocks of building a Human Resource capability that will enable your organisation to thrive in a world of constant volatility and change.

It’s time for organisations to step away from traditional paradigms around managing people, and focus on how to mobilise them towards organisational success.

What should you do now?

Click here to read the full article.

Contact us to learn more about building your HR capability for a VUCA world.

The Frontier Forum – The African Consumer Outlook

Open sign hanging in window

Retail industry leaders paint a rather promising picture of African consumers; but a one size fits all mentality may not be the best approach to reaching them.

A number of prominent retail industry leaders gathered at the Frontier Forum held at the Industrial Development Corporation on Thursday, October 30th to discuss the future of Consumer Business in Africa, specifically relating to understanding the African consumer.

The main thread emerging from many discussions was that there is, in fact, no single, summarised view of the African consumer. Demographics, development levels and needs vary vastly on the continent, and no single approach is optimally leveraged in each African country or region. However, Africans are, in general increasingly becoming wealthier, with a greater capacity to spend on retail products.

Dr Martyn Davies, CEO of Frontier Advisory, opened the forum by depicting the prevailing young age demographics across most African countries. He believes that this will drive trends going forward. In addition, Dr Davies believes that the view of potential markets being divided by country borders is one of the past, and that clusters of populations truly are the basis from which retailers begin to analyse potential markets for entry.

The many faces of the African consumer

The degree to which African consumers differ was emphasised and explored by a number of key speakers. The Executive Director of Marketing and Communications for Africa and the Middle East at Nielson, Ailsa Wingfield, provided a few examples of the number of ways companies may go about analysing consumers in Africa. Using Ethiopian consumers as an example, Ailsa detailed the importance of looking beyond demographics and the ability of African consumers to spend, and instead delving into their lives to create a more telling, multi-dimensional picture; including, for example, exploring the real needs, traditions, cultures and values prevailing on the continent. How African consumers typically live their everyday lives will affect the extent to which brands are adopted in certain markets and how products and services will be used by consumers, including possible adaptations to products that retailers may not have anticipated.

Maintaining the essence of Africa in products and services offered

Members of the panel discussion went on to build upon this message, including Dali Tembo, Africa Business Director of Instant Grass, who discussed how Africans are not necessarily losing their traditions in the midst of their exposure to Western culture. Africans are also seen to value and support products and services that are of African origin, more so than was previously thought, and a number of speakers saw this as the desired future – the state where an increasing number of products and services are produced by Africans, for Africans, and for export to the rest of the world. Consumer spending alone will not drive sustainable growth for all on the continent.

panel discussion

Panel discussion with (from left to right) Dr Martyn Davies, Christopher Gilmour, Swaady Martin-Leke, Dalie Tembo and Ailsa Wingfield

Finding opportunities in e-Commerce within and despite Africa’s challenges

Despite the exciting dynamics, and the wealth of opportunities within the continent, challenges for the retailer still exist, including high land costs and a lack of skills. However, even these challenges may be opportunities for businesses that choose to tackle them from such a viewpoint. Deloitte Digital Africa Associate Director, Rob Latham, discussed the future of setting up e-Commerce supply chains for accessing the African consumer, and in light of the prevailing African challenges such as a lack of good infrastructure, this can be done successfully, with careful thought and effort. Flexible, innovative business models, that leverage the benefits of partnerships along the supply chain, are assisting businesses to thrive despite these challenges.

Regarding logistics, that are part and parcel of e-Commerce activity, Rob sees a rise in small players that service localised regions, who connect to other small logistics companies to create a smart network of operators competing with the larger logistics companies. These smaller companies are increasingly being preferred by e-Commerce businesses.

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One-on-one discussion between Dr Martyn Davies and Rob Latham

Possible growth areas in the next five years, as mentioned by Rob, include digitalising workforce engagement to ensure that work is done more effectively and efficiently. Deloitte Digital is already helping clients to implement technology for companies to engage with employees and ultimately improve productivity and profitability.

Overall, there is much opportunity for retailers on the African continent. Innovation and a true, genuine understanding of African consumers will differentiate businesses and determine their success in entering and staying in their chosen markets. Entrepreneurs should take note of the real needs of African consumers, and seek opportunities to meet these first and foremost, in simple ways that can be easily understood and adopted by the intended consumers.

Securing industrial control systems – Don’t be a victim of cyber attacks

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The International Telecommunications Union predicts that the number of connected devices will reach 25 billion by 2020, up from 10 billion in 2011. The vision of Securing Industrial Control Systems is supplementary to securing ‘Connected Devices/Technology’, also referred to as the ‘Internet of Things’.

Trends in information security

The world is becoming increasingly connected. New technologies are constantly introduced, devices and people are getting more connected, networking technology has become more intense and organisations have come to depend increasingly on IT solutions. With the rising use of new technology and connectivity, cybercrime also increases significantly. The use and abuse of hacker tools grows in parallel with the increase of security related controversies in society.

Trends in industrial control systems

Industrial control systems (ICS) were designed and initially deployed in isolated networks, running on proprietary protocols with custom software. The exposure of these control systems to cyber threats was therefore limited. During the past years we witnessed new business needs which triggered office information technology and operational technology integration and use of Internet enabled communication. In addition, the use of off-the-shelve software and hardware became a standard practice for ICS owners, increasing the exposure surface. The coexistence of legacy and new equipment, accompanied by the IT/OT integration and the use of off-the- shelf software, create vulnerable setups that can be abused by attackers.

Click here to read about the future of ICS security

 

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