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Accenture UK&I Innovation Maturity Index Report

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Find out how UK&I's Innovation Champions are thriving in the age of disruption.

Publicada em: Tecnologia

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Accenture UK&I Innovation Maturity Index Report

  1. 1. WINNING INTHE AGEOF DISRUPTION Accenture UK and Ireland (UK&I) Innovation Maturity Index Report 2020
  2. 2. 12.8% 10% THERESPONSETODISRUPTION 2 | WINNING IN THE AGE OF DISRUPTION – Accenture UK and Ireland (UK&I) Innovation Maturity Index Report 2020 Innovation Champions set the pace in the UK & Ireland (UK&I) *The overall country score on the Accenture Innovation Maturity Index in the UK&I was 61 out of 100. But a small group of innovation champions— 11% of the sample—averaged 71 points. A company that scores high on the innovation index can expect to increase revenue nearly 13% more than peers and raise profits by 10% more UK and Ireland-based companies analysed to show where Innovation Champions are thriving in the age of disruption. Innovation Champions scored high on the Innovation Maturity Index. They can expect to increase revenue nearly 13% more than peers and raise profits by 10%* Higher revenue growth Innovation Champions are setting the pace in the UK and Ireland because of their deep understanding of what it takes to innovate successfully in the wake of increasing disruption. Higher profits
  3. 3. DISRUPTIONINTHEMARKETPLACE of UK industries are susceptible to future disruption UK* Disruptability Index 17 industry sectors 3 | WINNING IN THE AGE OF DISRUPTION – Accenture UK and Ireland (UK&I) Innovation Maturity Index Report 2020 70% Key: CMT RS PD FS Total EV of companies in industry sample Comms & Media Software & Platforms High-Tech Capital Markets Banking Insurance Infrastructure & Transportation Services Retail Automotive CG&S Travel Industrial Equipment and… Life Sciences Natural Resources Utilities Energy Chemicals 0.20 0.30 0.40 0.50 0.60 0.70 0.80 0.20 0.30 0.40 0.50 0.60 0.70 0.80 CURRENTLEVELOFDISRUPTION SUSCEPTIBILITY TO FUTURE DISRUPTION VIABILITY (24% of companies)1 VOLATILITY (29% of companies) VULNERABILITY (47% of companies) DURABILITY (0% of companies) 2018 CROSS-GEOGRAPHY2 AVERAGE: 0.47 2018CROSS- GEOGRAPHYAVERAGE: 0.54 The below indicates size of values (coloured circles in the graph left) denoting the total EV Source – Accenture Disruptability Index 2.0 (based on 2018 data) Note only the UK was measured in this particular research study – it did not include Ireland
  4. 4. WHATSETS THECHAMPIONSAPART? 4 Innovation Champions embed innovation | WINNING IN THE AGE OF DISRUPTION – Accenture UK and Ireland (UK&I) Innovation Maturity Index Report 2020 INNOVATION BY DESIGN Quality of innovation processes INNOVATIONPRACTICES Presence of Innovation traits Innovation Champions are measured by their: Innovation Champions employ an innovation mindset. They have built innovation skills to create new products and services for customers and have also achieved deep organisational change. Innovation Culture Innovation Architecture Innovation Strategy INNOVATE BY DESIGN Inclusive Hyper Relevant Technology Propelled Data Driven Asset Smart Talent Rich Network Powered INNOVATION PRACTICES
  5. 5. 9% 18% 17% 16% 11% 25% 63% 14% 19% 19% 24% 38% 43% 62% UK&ICHAMPIONSEXPECTDISRUPTION 5 Innovation Champions are never complacent To what extent do you expect your industry to be disrupted by the following in the next 3 years? Indicated “Large extent” or “Very large extent” Source: UK&I Innovation Maturity Index 2020 | WINNING IN THE AGE OF DISRUPTION – Accenture UK and Ireland (UK&I) Innovation Maturity Index Report 2020 Innovation Champions Rest of the market Innovation Champions both expect and are actively managing disruption and embed innovation to deal with it. They look to pre-emptively build resilience against market and industry disruptions. They possess higher rates of awareness about disruption from competitors and social/cultural changes. of Innovation Champions expect disruption compared to of other companies New innovations brought by technology New competitors Social and cultural shifts Maco-economic changes Environmental/ ecological change New regulations Demographic shifts N-200 respondents
  6. 6. CHAMPIONSINVESTFORVALUE 6 Innovation champions spend more on innovation How much more will your company be investing in innovation over the next 12 months to handle the evolving forces of disruption? | WINNING IN THE AGE OF DISRUPTION – Accenture UK and Ireland (UK&I) Innovation Maturity Index Report 2020 Significantly More Substantially More Over the next 12 months N-200 respondents 5% 2% 29% 19% 34 Champions Rest of the market % 21% Innovation Champions are investing over 10% more in innovation to help them to stay ahead of the curve. Most of them are using innovation to unlock value in their legacy and new businesses simultaneously, positioning themselves for change in steady, safe and balanced way. compared to of other companiesin innovation Innovation Champions are investing Source: UK&I Innovation Maturity Index 2020
  7. 7. CHAMPIONSFOCUSONKEYTECHNLOGIES 7 Innovation champions spend differently Which of the following technologies has your company been focusing your investments on and where do you plan to focus them in the future? (Select all that apply) | WINNING IN THE AGE OF DISRUPTION – Accenture UK and Ireland (UK&I) Innovation Maturity Index Report 2020 Last 3 years Next 3 years UK&I Champions focus more on technologies such as Blockchain, autonomous vehicles, machine learning and 3D printing. Innovation Champions Others N-200 respondents Internet of Things 81% 57% Cloud services for core business processes Autonomous robots Augmented Reality/Virtual Reality 52% Big Data Analytics Artificial Intelligence Machine learning 19% Blockchain/distributed ledger technology 3D printing in design or production Digital twin Autonomous vehicles 24% 57% 14% 62% 19% 62% 43% 76% 48% 57% 14% 10% 19% 14% 14% 0% 0% 5% 24% 85% 60% 46% 54% 11% 73% 5% 67% 53% 67% 56% 29% 80% 29% 15% 50% 14% 18% 10% 1% 4% Source: UK&I Innovation Maturity Index 2020 of Innovation Champions are focusing future investment on machine learning technologies
  8. 8. 8% 70% 50% 43% 48% 53% 70% 28% 0% 25% 25% 38% 50% 75% 88% 88% CHAMPIONSFAVOURGOVERNMENTSUPPORT 8 Innovation Champions favour government loans and grants If you have rated having support from the Government very important or critically important, in what form would you like that support? (Select all that apply) | WINNING IN THE AGE OF DISRUPTION – Accenture UK and Ireland (UK&I) Innovation Maturity Index Report 2020 When rating support from Government, Innovation Champions prioritise low interest loans and technology funding as the first step towards becoming a Champion. N-200 respondents of Innovation Champions prefer government support in the form of loans and grants compared to of other companies Innovation Champions Rest of the market More low-interest loans More grants funding for technology adoption A wider scope for the R&D tax credit More grants funding for R&D Repayable grants Support for specific skills development A more collaborative approach to regulation Enabling more collaboration with public innovation bodies Source: UK&I Innovation Maturity Index 2020
  9. 9. 2% 2% 1% 18% 8% 65% 11% 41% 11% 7% 6% 3% 14% 25% 87% 0% 0% 0% 10% 10% 19% 19% 24% 24% 24% 24% 24% 29% 38% 57% Southampton Sheffield Newcastle Liverpool Birmingham Manchester Bristol Edinburgh Leeds Belfast Coventry Cardiff Dublin Glasgow London CHAMPIONSRATEMOREUKCITIESFORINNOVATION 9 Innovation champions are city agnostic Which of these cities below would you rate as a city which supports innovation? | WINNING IN THE AGE OF DISRUPTION – Accenture UK and Ireland (UK&I) Innovation Maturity Index Report 2020 Because of their innovation mindset, UK&I Champions have an all-encompassing approach to innovation and see the potential of a number of UK cities for innovation. of Innovation Champions rate London as a UK&I city which supports innovation Only compared to of other companies Innovation Champions Rest of the market N-200 respondents Source: UK&I Innovation Maturity Index 2020
  10. 10. CHAMPIONSEMBEDINNOVATION 10 Innovation Champions are differentiated innovation practices UK&I Innovation Practices – By Largest Score Differential | WINNING IN THE AGE OF DISRUPTION – Accenture UK and Ireland (UK&I) Innovation Maturity Index Report 2020 Innovation Champions stand out in Innovation Practices. In particular, their ability to be continuously more Asset Smart, Inclusive and Hyper Relevant, where the difference between them and other companies was the highest. Innovation Champions adopt N-200 respondents Innovation Champions Others Innovation Practices7to release trapped value and accelerate growth. Asset Smart Network Powered Inclusive Hyper- Relevant Talent Rich Data Driven Tech Propelled 20 points 14 points 1 3 points 12 points 12 points 11 points 7 points Source: UK&I Innovation Maturity Index 2020
  11. 11. CHAMPIONSARE DIFFERENTIATED INALLSEVEN INNOVATION PRACTICES 11 | WINNING IN THE AGE OF DISRUPTION – Accenture UK and Ireland (UK&I) Innovation Maturity Index Report 2020 Asset Smart. Innovation Champions transform their core business to cope with disruption by divesting assets to free up capacity for the New. Inclusive. Innovation champions take an inclusive approach to innovation and governance, involving a broad range of stakeholders. Hyper Relevant. Innovation champions strive to always be relevant by sensing and addressing customers’ changing needs. Talent Rich. Innovation champions create a new type of workforce to gain a competitive advantage in fast-changing markets. Network Powered. Champions strive to harness the power of a carefully managed ecosystem of partners. Technology Propelled. Innovation champions master leading-edge technologies that enable business innovation. Data Driven. Innovation champions generate, share, and deploy data to support innovation. Source: UK&I Innovation Maturity Index 2020
  12. 12. UK&ICHAMPIONS COULDBE DIFFERENTIATED FURTHERIN INNOVATEBYDESIGN 12 Innovate by Design | WINNING IN THE AGE OF DISRUPTION – Accenture UK and Ireland (UK&I) Innovation Maturity Index Report 2020 Innovating by design is a framework for building the mechanisms for reliable innovation. It involves defining an innovation strategy, instilling a culture of innovation, and creating an innovation architecture. UK&I Champions are already most differentiated in Innovation Culture but differences in strategy and architecture were less marked Sample: All UK&I respondents (n=200) Innovation Culture Innovation Strategy Innovation Architecture UK&I Innovation Champions not only recognise the importance of the social and cultural aspects of innovation but are also creating a culture of innovation in their own companies where: is encouraged and rewarded. is applauded by leadership is fostered within the organization Innovation Champions Others Source: UK&I Innovation Maturity Index 2020 1 point 4 points 0 points
  13. 13. 13 Their innovation mindset means that they both expect and are actively managing disruption. They are concerned not only with technology disruption but also possess higher rates of apprehension about competitors and social/cultural change. They focus on financials associated with innovation and prioritize areas such as corporate venture capital funding. Their innovation mindset means that have an all-encompassing approach to innovation and see the potential of several UK cities for innovation and are actively focused on building wider innovation ecosystems. | WINNING IN THE AGE OF DISRUPTION – Accenture UK and Ireland (UK&I) Innovation Maturity Index Report 2020 Champions are never complacent Champions say, “show me the money” Champions are better networked SUMMARY To be classed as an Innovation Champion, companies must be driving higher revenues and profit from innovation. UK&I Champions are doing this through an innovation mindset which focuses on driving value from innovation and the innovation practices they follow. They are therefore better equipped to handle the evolving forces of disruption. They are differentiated in their technology spend, focusing on technologies such as blockchain, autonomous vehicles, machine learning and 3D printing. Champions spend more and differently on innovation Mind theTrap Trapped value is leaving organisations vulnerable to disruption. ‘
  14. 14. ABOUTTHERESEARCH 14 Demographics | WINNING IN THE AGE OF DISRUPTION – Accenture UK and Ireland (UK&I) Innovation Maturity Index Report 2020 CONFIDENCE LEVEL INDUSTRIES 06 ACROSS CMT FINANCIAL SERVICES PRODUCTS RESOURCES HEALTHCARE PUBLIC SERVICE 20% 20% 20% 20% 20% 15% CHIEF EXECUTIVE OFFICER CHIEF FINANCIAL OFFICER CHIEF INNOVATION OFFICER CHIEF OPERATING OFFICER 7% 11% 13% 11% CHIEF STRATEGY OFFICER EVP (or direct report) SP (or direct report) VP (or direct report) 9% 15% 17% 19% UK&I RESPONDENTS LEVELS CROSSC-SUITE ANNUAL RESEARCHSTUDY ON INNOVATION FOR THE UK&I COMPANY SIZE UNDER $100M (0.1) $100M - $499M (0.2995) $500M - $999M (0.7475) $1BNOR MORE (1) 4% 4% 48% 48% Research Conducted by ACCENTURE RESEARCH Supported by ACCENTURE UK CLIENT INNOVATION TEAM Source: UK&I Innovation Maturity Index 2020
  15. 15. About Accenture Accenture is a leading global professional services company, providing a broad range of services in strategy and consulting, interactive, technology and operations, with digital capabilities across all of these services. We combine unmatched experience and specialized capabilities across more than 40 industries — powered by the world’s largest network of Advanced Technology and Intelligent Operations centers. With 513,000 people serving clients in more than 120 countries, Accenture brings continuous innovation to help clients improve their performance and create lasting value across their enterprises. Visit us at www.accenture.com About Accenture Research Accenture Research shapes trends and creates data driven insights about the most pressing issues global organizations face. Combining the power of innovative research techniques with a deep understanding of our clients’ industries, our team of 300 researchers and analysts spans 20 countries and publishes hundreds of reports, articles and points of view every year. Our thought-provoking research—supported by proprietary data and partnerships with leading organizations, such as MIT and Harvard—guides our innovations and allows us to transform theories and fresh ideas into real-world solutions for our clients. For more information, visit www.accenture.com/research DISCLAIMER: This document is intended for general informational purposes only and does not take into account the reader’s specific circumstances, and may not reflect the most current developments. Accenture disclaims, to the fullest extent permitted by applicable law, any and all liability for the accuracy and completeness of the information in this presentation and for any acts or omissions made based on such information. Accenture does not provide legal, regulatory, audit, or tax advice. Readers are responsible for obtaining such advice from their own legal counsel or other licensed professionals. Accenture, its logo, and New Applied Now are trademarks of Accenture. Copyright © 2020 Accenture. All rights reserved. A research report produced by

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