The Nation Newspaper

Tag: Accenture

  • Verraki launches business solutions firm in Nigeria

    Verraki Partners, a new business and technology solutions firm, which promises to partner enterprises and governments to accelerate the development and transformation of Nigeria and Africa, has been unveiled

    The new entity is focused on implementing technology and business solutions designed inherently for Africa and specifically fit for purpose, while also resetting business ventures to unlock new sources of growth across the continent.

    Led by foremost corporate professionals and former Accenture leadership in Nigeria, Verraki will apply its global expertise and local insights to partner enterprises and governments to accelerate the development and transformation of Africa by providing business solutions uniquely tailored for Africa.

    Unveiling its new corporate identity during an interactive session in Lagos, during the week, the Managing Partner, Niyi Yusuf, explained that Verraki would be working with enterprises and governments to ignite opportunities, unleash their potential, pivot and turnaround their performance to create a better future.

    Yusuf, who until now was the Country Managing Director for Accenture in Nigeria, said: “Professional services firms in Africa are currently at an inflexion point. Digital technologies, revolutionary ideas and new business models are creating disruptions and new factors such as agility, flexibility, risk tolerance, cost-leadership, value for money and entrepreneurship are key requirements for success.

    “Verraki’s birth at an auspicious time like this is driven by our understanding of clients’ needs and our desire to harvest the opportunities the disruption brings and participate fully, via a rebalance and reconfiguration to address the specific needs of the market.”

     

  • There’re internal, external tension in tech sector, says Accenture

    Accenture has said there are pressing forces acting internally and externally on organisations and society in the technology circle.

    It said rapid technological advancements are altering the world today, provoking both wonder and angst about the possibilities-whether it’s artificial intelligence (AI), computer vision or blockchain, emerging technologies are uprooting the digital and physical experiences of everyday lives.

    These joint forces are simultaneously creating optimism and concern about the unprecedented wave of change that is unfolding, it noted in the Fjord Trends 2018, its 11th yearly report that examined seven emergent trends expected to impact business, technology and design in the year ahead.

    Co-founder/Chief Client Officer, Fjord,Mark Curtis, said: “Each of our 2018 trends is borne out of a fundamental tension — be it a shift, a collision or a parting of ways. Digital versus physical, human versus machine, centralised versus decentralised, speed versus craft, automation versus control, traceability versus anonymity. Winners in 2018 will be those who best navigate these tensions and seize the opportunity to collectively design the world we’ll be living in.”

    Fjord Trends 2018 suggests how organisations can navigate these currents and design for positive change. It examines seven trends expected to shape the next generation of experiences. These are Physical Fights Back: Digital has had the limelight long enough – there are two brand experience headliners now. The time has come to blend the digital with the physical; Computers have eyes: As well as comprehending our words, computers now understand images without any help from us, imagine the exciting possibilities for next-generation digital services; and Slaves to the Algorithm: How do you design a marketing strategy to win over the algorithms – immune to conventional branding efforts – that sit between brands and their customers?

     

    Others are a Machine’s Search for Meaning: A.I. might change our jobs, but need not eliminate them. We can – and should – design our collaboration with the machines that will help us develop; in Transparency We Trust: Blockchain has the potential to create transparency that will clear the fog of Internet ambiguity, regain lost trust, and repair relationships with the public; the Ethics Economy: Organisations are feeling the heat to take stands on political and societal hot button issues, whether they want to or not. And consumers are speaking with their dollars, choosing brands that align with their core beliefs; and Design Outside the Lines: Design’s rapid ascendency and newfound respect within organisations is a win for all. But, in a world in which everyone thinks they’re a designer, today’s practitioners need to evolve – how they work, learn and differentiate themselves – if they are to continue having impact.

    Design Director at Fjord in South Africa, Marcel Rossouw, said the annual Fjord Trend Report for 2018 provides an invaluable view on how technologies and experiences are shaping the way we live and do business.

    “In South Africa, Blockchain has the power to create transparency that will clear the fog of internet ambiguity, win back lost trust, and repair relationships with the customers. Considering the local economic and political climate, the technology could be a real game changer to regain control and promote transparency. Automation and the rise of AI are also forcing organisations in the African continent to design for a seismic shift in the workplace,” Rossouw said.

    Also commenting on the trends, Global co-Lead, Fjord and Managing Director, Accenture Interactiv, Baiju Shah said: “We believe this edition of Trends will provoke and inspire but, above all, provide actionable advice for organisations to prepare for the opportunities ahead.

     

    Many of the thorny questions ahead of us revolve around human-machine interactions, the consequences of which will be profound for individuals, society and organisations of all kinds. As digital fades from being stand-alone to being embedded in our physical world, our relationships with everything around us will be redefined.”

    Fjord Trends 2018 draws upon the collective thinking of Fjord’s 1,000+ designers and developers around the world. The annual report is based on first-hand observations, evidenced-based research and client work. This year, for the first time, it also drew upon the individual insights and perspectives from 85 clients across five continents, whose views inspired the report.

     

  • Accenture: Artificial Intelligence, others to boost productivity

    Accenture Nigeria said its investments in Artificial Intelligence (AI), Virtual Reality (VR), robotics and blockchain technology capabilities will help businesses across various sectors and boost their productivity and efficiency through innovations.

    The management consulting and professional services giant said technology will continue to evolve.

    Speaking with reporters after a demo at its Lagos office at the weekend, its Managing Director, Mr. Niyi Tayo, said earlier in the year, the firm had predicted that many consumers and enterprise clients will depend on AI to select products.

    He said: “Early this year, we predicted that in five years, more than half of consumers and enterprise clients will select products and services based on a company’s AI, instead of the company’s traditional brand. And in seven years, most interfaces will not have a screen and will be integrated into daily tasks. These two predictions alone strongly suggest that companies must act now on developing their AI Journey.

    “We want businesses in Nigeria – from banking to manufacturing, health, construction, education, retail, security and other sectors to take advantage of the innovations we have created to improve their businesses. We believe as one of the biggest economies in Africa, the time to seize the future is now.”

    He dismissed the fear that robots will lead to job loss, stressing that the reverse will be the case as people will get retrained.  “There is clear evidence that points towards robotic automation in many cases being a complement for human labour rather than a direct substitute. Human effort becomes more valuable as it is focuses on higher-level tasks, creativity, know-how, and thinking,” he said.

    Accenture early this year published a report, titled: 2017 Technology Vision, which studied how AI will affect banks going forward. Over 600  of the world’s  major bankers were asked about the new technology and how it ’ll change the way banks operate internally and how they handle their customers externally.

    According to the report, three quarter of the bankers surveyed, four out of five to be exact, believe that AI will become the primary way banks interact with their customers. This is in relation to customer service, and these bankers see AI technologies such as chatbots becoming increasingly essential for banks in the not-so-distant future.

  • Accenture collaborates with ABC on US business report in Nigeria

    Accenture collaborates with ABC on US business report in Nigeria

    Accenture has collaborated with the American Business Council (ABC) in Nigeria to conduct and publish a survey on American companies operating in Nigeria.

    The survey which represented the responses of 48 American companies shows that US companies’ impacted on the Nigerian economy in 2016 through gross value added to the nation’s energy future, economic, output investment, jobs and communities.

    US businesses generated N1trillion revenue for Nigeria in 2016 financial year and made contribution of more than N34.4billion to the tax revenue, according to published survey conducted with Accenture and two other firms.

    In the area of capacity building, over N340million was reportedly spent on training in 2016.

    According to the survey, most of the businesses embarked on CSR projects in areas of education and empowerment such as provision of free internet connection to Nigeria’s premier incubation hubs; building of community school houses; scholarship for secondary school students; volunteer staff time to teach technical skills.

    The global tech, strategy, digital and consulting service firm is a leading global professional services company, providing a broad range of services and solutions in strategy, consulting, digital, technology and operations. Combining unmatched experience and specialized skills across more than 40 industries and all business functions – underpinned by the world’s largest delivery network – Accenture works at the intersection of business and technology to help clients improve their performance and create sustainable value for their stakeholders. With more than 394,000 people serving clients in more than 120 countries, Accenture drives innovation to improve the way the world works and lives.

  • Accenture: artificial intelligence, robotics, others’ll boost productivity

    Accenture Nigeria said its investments in Artificial Intelligence (AI), Virtual Reality (VR), robotics and blockchain technology capabilities will help businesses across various sectors  boost their productivity and efficiency through innovations.

    The management consulting and professional services giant said technology will continue to evolve.

    Speaking with reporters after a demo at its Lagos office at the weekend, its Managing Director Mr. Niyi Tayo, said earlier in the year, the firm had predicted that many consumers and enterprise clients will depend on AI to select products.

    He said: “Early this year, we predicted that in five years, more than half of consumers and enterprise clients will select products and services based on a company’s AI, instead of the company’s traditional brand. And in seven years, most interfaces will not have a screen and will be integrated into daily tasks. These two predictions alone strongly suggest that companies must act now on developing their AI Journey.

    “We want businesses in Nigeria – from banking to manufacturing, health, construction, education, retail, security, and other sectors to take advantage of the innovations we have created to improve their businesses. We believe as one of the biggest economies in Africa, the time to seize the future is now.”

    He dismissed the fear that robots will lead to job loss, stressing that the reverse will be the case as people will get retrained.  “There is clear evidence that points toward robotic automation in many cases being a complement for human labour rather than a direct substitute. Human effort becomes more valuable as it is focused on higher-level tasks, creativity, know-how, and thinking,” he said.

    Accenture early this year published a report, titled: 2017 Technology Vision, which studied how AI will affect banks going forward. Over 600 of the world’s  major bankers were were asked about the new technology and how it’ll change the way banks operate internally and how they handle their customers externally.

    According to the report, three quarters of the bankers surveyed, four out of five to be exact, believe that AI will become the primary way banks interact with their customers. This is in relation to customer service, and these bankers see AI technologies such as chatbots becoming increasingly essential for banks in the not-so-distant future.

     

     

     

     

  • Accenture, Code.org partner on coding literacy

    Accenture is teaming with Code.org to support global participation in Hour of Code, one of the world’s largest educational events, designed to prove anyone can learn the basics of coding, have fun doing it, and continue learning beyond one hour.

    Thousands of Accenture employees around the world have pledged to complete nearly 8,000 Hours of Code during Computer Science Education Week.

    This number is expected to grow as Accenture employees commit to an Hour of Code and volunteer to work with teachers and Code.org to help students learn the basics of computer science at local schools and events through fun, game-like online lessons.

    Organised by Code.org, the Hour of Code brings together more than 350 partner organisations and students around the world. The campaign culminates with a massive coding event with 191,000 registered events.

    The goal of the grassroots movement is to empower every student to learn computer science. By starting early, students will have a foundation for success in any 21st-century career path

    “We are aligned with Code.org’s mission and vision that exposure to coding is important to the success of every student, regardless of what field they choose to pursue,” said Paul Daugherty, Accenture’s chief technology officer.

    “We must all do more to encourage greater interest in computer science in schools, especially for girls and underrepresented students of color. Armed with coding skills they develop throughout their academic careers, students will be much better prepared to fill key roles in the digital businesses of the future. I am impressed with the passion and energy that our Accenture people are showing in their commitment to this important cause.”

    “The need for people with STEM skills has never been greater,” said Roxanne Taylor, Accenture’s chief marketing and communications officer.

    “By 2020, there will be 1.2 million jobs requiring computer-related skills in the U.S. alone. Yet, the pipeline of graduates with technology skills is lacking, especially among women. Code.org is helping to reverse this trend by addressing the issue early in the education cycle. We need to get young people excited about computer science long before they enter college. Hour of Code is an amazing campaign that does just that.”

  • Accenture charts new path for banks in multi-channel digital age

    Accenture charts new path for banks in multi-channel digital age

    Nigerian banks need to undertake a revision of their business model in order to align their operations with their core business ideas in a sustainable way that delivers competitive returns to stakeholders even as changes in technologies and customer behaviours redefine operating milieu.

    Accenture Nigeria, in a newly defined paradigm for banking in its recent publication ‘Banking 2016 – Next Generation Banking’, notes that each bank must have a clearly articulated business model in the light of its history, market, positioning and aspirations among others, which would be the foundation for winning the battle for the customer and growth in an increasingly competitive industry with the commoditization of transaction fulfilment and service delivery.

    According to the report, while some banks may fix the situation and excel by simply improving on the basics including “smart sizing” their distribution networks, others need new business and operating models to compete and grow going forward.

    As most banks struggle with a daunting array of market, regulatory, customer, cost and operational challenges, Accenture Nigeria outlined three critical battles that must be won by the banks in order to excel.

    Speaking on the need for paradigm shift in banking sector, managing director, financial services, Accenture Nigeria, Mrs. Toluleke Adenmosun, said the critical issues were the struggle for customer trust and engagement; protecting payment business and revenues from progressive disintermediation by new non-bank players, distinctive and differentiated offerings to avoid commoditization of products and services.

    She explained that the initial typical multi-channel approach leverages six core channels, which include online and internet, telephony, branch, mobile, ATM, POS channels but nonetheless investments in emerging channels, are failing to deliver fully on the promise of adoption by customers.

    Adenmosun cited a recent article posted by the Central Bank of Nigeria (CBN) which indicates that bank branches remain the predominant channel for bank customers, as other aforementioned channels are nearly ineffective or failing in different ways.

    She explained that an average bank customer would prefer going to his branch to make withdrawals or deposits when there are other channels like the ATM and mobile channels, or rather make payments with cash on daily basis when there are POS terminals and on-line and internet channels available.

    She noted that some bank customers would go all the way to the banks to make complaints or enquiries when there is telephony and contact centre.

    “Clearly, branches remain relevant and are important assets to banks, but branches carry higher running costs than emerging channels.  On average, branches comprise 50  to 60 per cent of the bank’s operating costs and in most banks around 30 per cent of branches destroy value generated by the rest of the network,” Adenmosun said.

    She outlined that Accenture has postulated three business models that banks should consider when defining their own model.

    The first model is the one that builds on enhanced multichannel experiences to engage customers and meet their financial needs efficiently which simply means taking customer interaction beyond the basic cash in and cash out transactions to deliver a distinctive value proposition. In other words, “My bank knows and understands me and effectively engages with me about my real financial needs”, that is, strategic application of analytics is at the core of the “Intelligent Multichannel” Bank Model.

    Another model is one which leverages social media interactions to increase customer intimacy. This means being present, connecting and engaging with customers where they spend their time such as on social media, based on personal interests and by leveraging influencers. In other words, the concept is that of “My bank engages with me where I spend time” as a “Socially Engaging Bank”.

    The last model places the bank as trust center with an extended proposition of financial and non-financial services. In other words, the concept is built around “My bank gives answers to my needs, providing easy access” leveraging in particular the power of mobile technology to be the “Financial and Non-Financial Digital Ecosystem Bank”

    Adenmosun said the implementation of the new business models can accelerate revenue growth while reducing cost to serve adding that bank governance and operating models must evolve; giving proper weight to customer experience and metrics in the key areas of reputation, brand perception, commercial performance, sales performance and the capabilities required to support them.

  • Employee engagement crucial to firm’s devt, says Accenture

    For organisations to have utmost productivity and  growth, there must be high level of employee engagement that  starts with employee satisfaction through incentives that keeps them happy, Acenture has said.

    Its Human Resources Head, Mrs. Ronke Akpata, said employees’ engagement is designed to ensure that employees are committed emotionally to their organisation’s goals and values, motivated to contribute to organisational success, and are able at the same time to enhance their own sense of well-being.

    She said productivity would follow a greater satisfaction in the workplace, as employees would have most of their needs meet in a holistic manner and be much more productive for the organisation as well is willing to go that extra mile.

    However,  with  the previous point met,  it is easier to retain  well-motivated employees which is key to long term business success as they would help to  uphold the  culture in place and optimise the  training and skills acquisition expenditure. It will also reduce cost of employees turnover and acquisition, as those with lower engagement are four times more likely to leave their jobs  than those who are highly engaged.

    Akpata further said employee engagement does not mean his happiness and that a global workforce study by Mr. Towers Perrin highlighted five key areas that could  increase employee engagement.

    It specified that the  organisation is the most powerful influencer of employee engagement, that  the structure of management systems and process greatly  affects  the level of a worker’s interest in his or her job, as the  organisation must ensure it has employees with the right skills.

    Other areas noted shows that there is no single “right model” for a high-performance culture, that the most effective approach depends on an organisation’s strategic priorities and to  avoid a “one-size-fits-all” approach to influencing workplace attitudes; that employees are eager to invest more of themselves to help the company succeed, but want to understand what’s in it for them.

  • Accenture unveils research on digital workplace

    Accenture has unveiled a new report in the workplace.

    It says that while nearly all (96 percent) global professionals consider themselves to be good listeners, the majority (98 percent) spend part of their workday multi-tasking.

    In fact, almost two-thirds (64 percent) say that listening has become significantly more difficult in the digital workplace.

    The research, #ListenLearnLead, which surveyed 3,600 professionals from 30 countries, found that eight in 10 (80 percent) respondents say they multitask on conference calls with work emails, instant messaging, personal emails, social media and reading news and entertainment (cited by 66 percent, 35 percent, 34 percent, 22 percent and 21 percent, respectively).Those who listen actively on calls typically either need something from the call or are required to lead, participate in or follow up on the discussion.

    “Digital is changing everything, and new technologies will continue to present challenges and opportunities.

    “As employees become increasingly hyper-connected, leading organisations will seize the opportunity to optimise the use of technology in the workplace, tapping its potential for employee engagement, collaboration and innovation,” said Adrian Lajtha, Accenture’s chief leadership officer.

    The research also found that the majority of respondents (58 percent) believe technology enables leaders to communicate with their teams easily and quickly, and almost half cite additional benefits, such as flexibility for teams to work anywhere/anytime (47 percent) and increased accessibility (46 percent).

    Accessibility, however, is seen as both a help and a hindrance to effective leadership. More than six in 10 women (62 percent) and more than five in 10 men (54 percent) view technology as “overextending” leaders by making them too accessible. All respondents agree that among the top challenges facing leaders today are information overload (55 percent) and rapidly evolving technology (52 percent).

    The outlook for women in key roles of technology is on the rise with more than seven in 10 respondents (71 percent) of respondents believing that the number of women chief technology officers will grow by 2030, and more than half of respondents (52 percent) saying that their companies are preparing more women for senior management this year than they did last year.

    “Whether you are in charge of a meeting, an employee group, a volunteer event or a major project or account, there is always an opportunity to lead,” said Nellie Borrero, managing director, Global Inclusion & Diversity at Accenture. “Our more than 200 International Women’s Day events around the world will focus on recognising,

  • Accenture celebrates employees

    Accenture, a global technology management company and also in the area of outsourcing and consulting; has celebrated the performance of two of its ex – staff that have contributed  to the development of the company.

    Speaking at the appreciation ceremony held in Lagos, its Managing Director, Nigeria, Niyi Yusuf, said: “The former employees, Mr. Usen Udoh, a Senior Director and Mrs. Onyeche Tifase both ex – staff of the company have excelled as staff of the company. The event was to show appreciation for what they have done while they were there.  That they have reached a milestone in their careers, and have further advanced to become important personnel in the new organisations where they now work.”

    He said they have done very well to move Accenture forward in their various capacity adding that the successes recorded has paved the way for their advancement in their careers. “ Tifase has now risen to become the managing director and chief executive of Siemens, the first woman to reach such enviable position. Also, Udoh has moved to Dangote Group as the group chief human resource manager, a position which I know Udoh would excel.”