After businesses were embroiled by operational disruptions throughout the height of the pandemic, Timo has now reflected on his observations and found that his mission to continue encouraging innovation has naturally become embedded in businesses future. “With unprecedented times came vastly accelerated innovation in order to survive.”

Speaking to śŮąđłŚ˛šłŮłóąô´Ç˛Ô’s Chief Value Officer, “Nothing is impossible anymore” is simple the new business experience in light of the innovation that has become possible. The downside to this journey stemmed from the elevated pace that businesses were required to innovate, and in turn, ended up doing so in silos.

“I recently saw some data from International Data Corporation (IDC) that showed, a couple of years ago, 75% of organisations were innovating with a strategic approach, leaving the remaining 25% who were innovating in silos. Unfortunately, those numbers have changed. Organisations innovated in a silo because they didn’t have time to do it in a more strategic way, and now the number of organisations that have a strategic approach has dropped to 50%. So, unfortunately, there’s lots of innovation, but because of all these new silos, it’s actually harder to do even more innovation in the future.”

With these results in mind, analysts are in agreement that to innovate both at a faster pace and with strategic efficiency, there needs to be a solid information foundation coupled with a flexible set of building blocks. What the pandemic shone a light on was an atmosphere of uncertainty experienced by organisations which can be combated with flexibility, agility and the technology foundations to support it. Those organisations that weren’t able to adapt or differentiate themselves unfortunately were forced to fold.

https://www.youtube.com/watch?v=STDFvPBYW74

“I think one of the key takeaways, I hope, is that some organisations were a little complacent about needing to innovate. Why innovate? My business is stable. I don’t need to do anything differently. Instead, that thinking is a little bit like standing on a down escalator. You’re slowly moving backwards compared to the rest of the environment. In order to stay still in modern business, you have to be walking up the down escalator. You have to put effort in because the environment around you is evolving. Customers have higher demands, your employees have new expectations, your competitors are upping their game, so you have to do a certain amount of innovation just to stay still.”

Asked on where organisations should begin their innovation efforts, Timo reminds us that because of a high investment in technology solutions that automate the time consuming parts of day to day operations, there’s a new wave of solutions such as a solutions. How do accelerate innovation this way? By letting business employees do more of the innovative work themselves in their area of expertise without IT and technology being a bottleneck.

Speaking to a customer, they explained to Timo that his ‘knowledge workers’ know exactly what’s going wrong in the business and they know what should be done to fix it, but they feel powerless. “They feel like they’re at the mercy of the machine because they can’t fix it themselves. All they can do is point it out to a technology team, but that team don’t have enough time, there’s never enough resources, there’s always a backlog. So, the answer is no, we can’t. Now, these new tools are becoming really powerful, where business people can create their entire applications, workflows, analytics and do it all themselves.”

There are always some dangers to be aware of with implementing solutions like these, where if you let anybody in your business become involved in the technology, the result is probably going to be chaos. “Not everybody’s ready to be enabled. Everybody’s gonna recreate the wheel and get calculations wrong.

So the right approach is not low-code or no-code or pro-code, but co-code where you have a combination of the technology teams putting in place the Lego bricks that reflects the different objects of the business like a customer or an invoice and so on. Employees can then take those blocks and use them, change the order and wire them up in different ways, and have different authorisations and so on in the knowledge that they’re going to do that in a way that isn’t gonna be damaging for the system it’s gonna be scalable, it’s gonna be compliant, follow all of the security laws and so on.”

To hear more from this discussion, dive deeper into business innovation projects and hear more from Tim about his technology predictions for the future, listen to the full episode of The Best Run Podcast .

The post The Importance of Innovation in a Post-COVID Era appeared first on 51ˇçÁ÷Australia & New Zealand News Center.

The demand for labour in Australia continues to outstrip talent supply, especially in sectors like resources and mining, construction and engineering, manufacturing, and trades. In a recent study between , 45 per cent of procurement executives reported frequent digital security breaches with their contingent workforce. Thirty-five per cent of respondents experienced unauthorised spend, and 34 percent experienced compliance issues.

Intelligent tech creates connected talent ecosystem

As the complexity and digitalisation of workforces increased during the pandemic, the ability to manage remote workforces throughout the employee lifecycle has become critical. Compounded by the restrictions Australian businesses face with offshore talent during the global pandemic, organisations must devote the same attention, rigor, and focus on talent supply chains as any other supply chain or asset-driven commodity.

Intelligent technology solutions are offering businesses new avenues to reconsider talent acquisition and management, creating an interconnected ecosystem for managing adaptive talent supply chains.

Benefits of talent supply chain digitalisation

In the not too distance past, companies could manage talent supply chain as complex, disconnected, and lengthy processes with numerous teams working in silos across the business without real visibility or centralisation. Now companies that rely on contingent workers and service providers in substantial numbers are turning to vendor management systems (VMS) that streamline and centralise talent sourcing, procurement, and oversight.

An intelligent VMS can consolidate operations, acquisitions, and management, on a unified platform, reducing the cost of staffing while increasing process efficiency and workforce quality. Providing a single source of truth and control is critical for compliance and efficiency.

For example, runs a global value realisation assessment program for all of our key customers, and in the last analysis of customer outcomes we saw an annualised 60 per cent improvement in worker quality since implementation, and an average of three per cent savings through improved compliance alone. This was only possible with increased visibility and access across each organisation’s talent supply chain processes.

External workforce success metrics

To manage an external workforce program successfully, leaders need to look at how they manage full-time employees today, putting equal weight and importance on how teams measure success through processes across four value drivers: cost control, compliance, quality, and efficiency.

Each value driver is directly impacted by the provision of visibility across the external workforce. To measure success, it is important to understand these drivers and how they fit into the overall strategy and direction for the organisation.

An external workforce program can mature over time. Initially, it makes the most business sense to focus on organizational and team priorities and quick wins for the quickest return-on-investment while preventing change fatigue. Consider cost control which can translate to a variety of strategies and tactics, quickly becoming overwhelming from a change management perspective, and potentially no longer obtainable. Leaders need to break this value driver down into smaller, more easily achievable goals.

For example, one organisation set a goal to streamline invoicing processes and reduced FTE (full-time equivalent) talent costs. After implementing 51ˇçÁ÷Fieldglass, the business completely automated invoice reconciliation, saving $22M AUD in the first year. By simplifying, standardising, and automating processes, the organisation also reduce headcount in its accounts payable team by three FTE.

In setting small reachable goals and KPIs, businesses can quickly see improvements. However, as organisations constantly change, it’s important to regularly refresh goals and ensure alignment to the overarching business strategy. This needs active and continuous management, whether manually or through intelligent technology solutions.

As organisations innovate how they manage and connect with employees, technology will continue to play a significant role in how businesses adapt to and anticipate change. The ‘new normal’ that continues to evolve in response to the global pandemic has highlighted the importance of operating safely yet with flexibility. Organisations need the right technology in place to support these robust and ever-shifting work arrangements.

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This approach has often been tied to capital expenditure, rather than capital growth and our customers are proving that doesn’t have to be the case. We need to reimagine sustainability through the lens of a growth mindset as a business principle and as an opportunity for organisations to run faster, better, stronger, and with the customer central to every strategic driver.

A Digital Intelligence Unit, called , highlighted the findings from leading industry researchers such as BCG, Gartner, Juniper and Forrester. A key takeaway from this comprehensive report is an anticipated move to deeper consideration for strategy and cost structure in managing larger, more complex digital markets.

With the evolution of e-commerce and intelligent technologies, supply chains have shifted towards digital supply networks that are interconnected, data-rich, and readily accessible, which allows brands to adapt and respond rapidly to volatile market changes, customer demands, and industry disruptions – thereby building supply-chain flexibility and resilience.

COVID-19 demonstrated to consumers and business first-hand how our old ways of supply and demand, hyper-capitalism, and the endless pursuit for exponentially improved returns aren’t always sustainable. According to the ,

“87 percent of people born between 1990 and 2015 believe that the success of a business should be measured in terms that go further than its financial results”.

Consumers are growing more aware of how businesses operate, how supply and demand are impacting their lives in tangible ways. They also have more awareness of their power than before to vote with their wallets, source their goods from anywhere, and boycott/cancel brands that don’t operate ethically. According to the Harvard Business Review, nearly 66% of consumers believing they have a responsibility to purchase products that are good for the environment and society.

Consequently, brands are realising that purpose and profit aren’t mutually exclusive. However, consumers’ shifting priorities towards sustainability and its broad spectrum of social consequences have demonstrated the business results of being purpose-driven first, bottom line second. Organisations understand that operating sustainably makes better business sense than short-sighted financial successes. Most of which, the impact to our sole, collective marketplace (Earth) would have on business continuity and profitability, a recent report from the New York times puts this number at $US970 billion being wiped off the value of 215 of the worlds largest companies due to the climate crisis.

In thinking more broadly about sustainability, businesses must understand the intelligent technologies and practices that provide greater convenience, efficiency, and safety for employees, end-users, and customers. As our communications, consumption, and business functions become increasingly digitalised, the drive for scalable sustainability will lead to further innovation in the technology space with processes such as automation, digital supply chain twins, and continuous intelligence providing businesses with further versatility while mitigating risk.

According to Christian Titze, Vice President Analyst with the Gartner Supply Chain Practice,

“The vast majority of organisations have a cautious approach to adopting supply chain applications and technologies. Only 21 percent are willing to consider, and often adopt, early-stage technologies. However, even cautious supply chain leaders must keep an open mind and embrace long-term perpetual change.”

Creating a sustainable supply chain means utilising the latest technologies and trends while aligning business models with changing consumer expectations. With consumers demanding more transparency and accountability from brands; innovative businesses are responding by embedding sustainable processes within their intelligent enterprise.

By investing in technology to achieve this, companies can focus on reducing environmental impact, supporting local suppliers, co-innovation and stepping away from the legacy of zero-sum game win-lose business practices, and focusing on collective win-win practices. Often this investment pays off not only in a return on investment, but by enabling exponential growth and positive customer outcomes in a more sustainable, scalable, and ethical way.

Supply chains are at the forefront of this wider business transformation, particularly since COVID-19 showed us how the supply chain function is ground zero for impact and the most vulnerable for disruption. The most resilient businesses adopted more sustainable practices to help remain competitive, agile and customer-focused. Sustainability needs to be a more accessible and holistic concept for businesses looking to drive purpose and profit together.

51ˇçÁ÷remains committed to empowering people through technology, providing scalable digital solutions while broadening their understanding of sustainable business. As part of fostering this mindset shift, 51ˇçÁ÷is broadcasting our live from Sydney on 24th March.

This forum event will bring together research analysts from Harvard Business Review and local executives to share their insights on what we can expect in 2021 and beyond, understanding how the future of work, sustainability, and data-driven technologies will fundamentally change the way businesses grow.

Another development for pushing positive and sustainable outcomes is our 51ˇçÁ÷Climate 21 Initiative, which reaches beyond corporate practices of emissions reporting and other sustainability issues to help both businesses and consumers make more responsible purchasing decisions.

A key advocate for this all-encompassing approach to sustainability is Michael McComb, VP of Communications and Sustainability for 51ˇçÁ÷APJ & China. His role combines the technical expertise, marketing insights, and communications knowledge required to change people’s thinking about sustainable supply chains, making sustainability a priority for businesses moving forward. I personally am looking forward to the discussion I expect to see with my colleagues and customers in this space and the innovation this drives for the wider community.

Digital technology and intelligent solutions will play a critical role in building more sustainable, equitable, ethical, and efficient business practices. Last year tested our ability to adapt while 2021 will be the vital first step in our global response to the lessons learned.

Creating sustainable supply chains will have far-reaching benefits across industries and geographies, so be sure to attend the upcoming to learn more about the solutions, initiatives, and technologies that are helping ANZ businesses rethink the role of their supply chains in taking the next step towards a sustainable future.

The post Reimagining Sustainable Supply Chains with Business Intelligence appeared first on 51ˇçÁ÷Australia & New Zealand News Center.

We still face all the same challenges and risks that we did before – and these cannot be overlooked, pandemic notwithstanding. Case in point: modern slavery.

In August, the Australian government took a big step in reminding us of this. It marked ‘World Day Against Trafficking in Persons’ by launching its much-anticipated online Modern Slavery Statements Register and a new Government Procurement Toolkit.

Assistant Minister for Customs, Community Safety and Multicultural Affairs Jason Wood MP said that the register will provide “Australian consumers, investors and civil society with an unprecedented window into the global supply chains that produce the goods and services we use every day”. Anyone can go online and scrutinise the statements submitted to the register by government agencies and Australian businesses.

The launch of the registry comes one and a half years after The Commonwealth Modern Slavery Act 2018 entered into force on 1 January 2019, establishing a national Modern Slavery Reporting Requirement. Reporting entities, such as large entities with an annual consolidated revenue of $100 million, the Australian government itself and corporate Commonwealth entities, are expected to use the centralised portal to submit their modern slavery statements.

The annual Modern Slavery Statements called for are designed to encourage the Australian business community to identify and address their modern slavery risks and maintain responsible and transparent supply chains.

A new solution to an old problem

While for some, talk of slavery may feel like an anachronism, this is far from accurate. By the government’s own estimates, between 2015 and 2017, there were up to 1,900 modern slavery victims in Australia.  has put the figure at more than 40 million worldwide.

Modern slavery includes human trafficking, slavery, servitude, forced labour, debt bondage and worst forms of child labour. It disproportionately impacts women and girls. More than 70 per cent of modern slavery victims are female. Modern slavery can occur in every industry and sector but some are considered more at risk than others.

Nowhere to hide

Whether you’re a government agency or a business, getting started on the path to greater transparency and compliance involves a few steps. Review your forced labour policy, segment your supply chain by category and geography, monitor continuously for risk signals, design a risk assessment and controls framework, remediate identified risks and automate assessment processes.

The reality is that many government agencies and businesses don’t have the tools required to keep track of the risks in their extended supply chains due to the herculean task of data aggregation.

Transparency through tech

To effectively meet the mandatory reporting criteria under the Modern Slavery Act, executives must adopt a technology-led approach in order to accurately monitor and track their supply chains. This is critical to ensuring that unfair and abusive practices haven’t crept into second and third-tier suppliers in the supply chain.

Technology platforms like digital business networks provide newfound visibility into supply chains, enabling organisations to quickly and easily evaluate trading partners against huge volumes of data points, determine their exposure to risk and make more informed decisions. This provides buyers the opportunity to proactively, instead of reactively, manage these risks.

For example, SAP’s cloud-based Ariba Network, where more than 3.46 trillion US dollars-worth of business-to-business transactions happen annually, currently gathers third-party data from over half a million data sources. This includes whether a potential trading partner keeps its supply chain clear of forced labour and has a record of responsible environmental stewardship.

With these data points in hand, how businesses and government agencies interpret the data to mitigate their reputational, financial and environmental risks will be critical. Organisations must make sure they are making way for staff charged to turn these insights into meaningful action.

The same technology can give organisations both the supply chain visibility needed to become compliant, and much needed awareness and flexibility at a time when supply chain resilience is more important than ever. The outcome from acting on these insights is not just a legal and ethical requirement, but it is also proven that doing good is great for business as consumer demands are rising. With government spending always under extra scrutiny, it is vital for government agencies to lead the way.

A reputational chain reaction

While it may have been unspoken, there has been a view that ‘what happens in the supply chain stays in the supply chain’. But this simply will not do in today’s environment. Those that fail to recognise this can expect to pay the price for complacency through lost reputation, revenue, challenges retaining talent and legal action. However, acting on this, taking a stand and driving change in everyday people’s lives will be rewarded by consumers.

Expect the “window” that the Modern Slavery Act and register provide to create a technology-fuelled “race to reputation” that will not only drive compliance but also broader organisational resilience and a more equitable society.

To hear more about how to use technology to improve your supply chain, register for 51ˇçÁ÷Ariba’s , featuring BHP, Woolworths, ANZ Bank and more.

The post Stamp out slavery by seeing further into your supply chain appeared first on 51ˇçÁ÷Australia & New Zealand News Center.

that supply chains are broken, exemplified through a lack of visibility, lack of collaboration, and lack of coordination.

Since most supply chains are based on transaction and reactive models, multi-faceted supply networks cannot adapt quickly enough to spikes or drops in demand. COVID-19 has inadvertently demonstrated the weaknesses of this system and highlighted the need for change.

Digital technology platforms can create the transparency and connectivity necessary to mitigate risks and navigate through crises. Visibility across supply networks is vital in response to emergencies. – ensuring that they were able to quickly develop a temporary hospital and use those beds to treat patients with COVID-19.

This is a time to unite, to focus on everyone’s safety and assist those we can. In response to the huge shifts we are seeing globally across industries, 51ˇçÁ÷recently hosted a series of virtual forums called . There were seven industry-specific episodes focused on key challenges, solutions, and learnings from this current crisis.

Also, to help guide businesses through this challenging period, through the crisis period, to support an enhanced supply chain and improved experience management. These two critical branches of business dictate an organisation’s success – because a company’s ability to provide the right product and service to customers and staff is paramount.

Supply Chain Management and Disruption
SAP’s primary focus has always been helping businesses anticipate and adapt to change through technology. Looking at supply chains, we’ve already seen the importance of interconnectivity, the ability to create transparency across supply networks that is embedded across different organisations, departments, and borders. The more connected we can make disparate systems and processes, the greater visibility we can create across supply chains to better manage sudden spikes in demand.

The ability to intelligently manage supply chains with data driven insights helps business plan, adapt, and grow. It’s about understanding planning as a service, which is possible through , which is freely available for business looking to scenario planning and evaluation of supply chain impacts, options, and financial implications.

The also broadens the visibility of organisational supply chains to gain an understanding of suppliers’ situations, analyse risks, and better manage the experiences of staff and suppliers throughout the business ecosystem.

Using this solution, businesses can gather feedback suppliers to understand potential supplier restraints and delivery timelines risks, areas for optimisation, and ways to better collaborate with suppliers to ensure business continuity even during crises. This is critical as suppliers, staff, and customers all face extraordinary challenges and organisations must be seen as responsive and communicative.

Communication and Support for People
Building team cohesion during crises, or reskilling them for organisational changes, is vital. Employees need to feel heard and supported, which is why their engagement can be better managed and understood through platforms like Qualtrics.

using Qualtrics to understand how staff are feeling, the associated root causes, and what they can do to help. With the ability to provide this quick and convenient service across any device helps keep volunteers engaged and provides significant insights for improvement.

St John Ambulance also noted that the speed and ease at which Qualtrics was able to go live, the in-built reporting tools, and automatic alerts, have all made the volunteer experience easier to manage and understand.

The data insights produced during this time of crisis will help business safeguard themselves from future impacts, building resilience and discovering best practice. It is a challenging time, but it also presents an opportunity to refine practices and ensure that everyone is kept informed and safe.

51ˇçÁ÷is here to help and provide assistance for any business struggling to digitally transform and adapt to these rapid changing circumstances.  to the second edition of the – going live on August 6^th 2020.

This article originally published on .

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