Innovative thinking 2013: Insight out

Once again, Deloitte has held its annual Innovative thinking contest:

We challenged minds across the Canadian firm to submit papers that discuss today’s business issues and upcoming trends. These papers provide innovative solutions relevant to a wide range of industries as well as showcase unique insights in the Consulting, Enterprise risk, Financial advisory, Tax and Assurance & advisory practices.

Some of the winning topics include the following:

• Mobile and social banking
• Productivity 
• Data analytics
• Government

We encourage you to read through the winning papers and find innovative ideas that make sense for your business.

The winning papers

Looking ahead: Top trends in retail banking – 2014
While banks are enjoying record profits, now is not the time for complacency. New players and advancing technologies are disrupting the market and changing how we bank. Read “Looking ahead: Top trends in retail banking 2014” to see how banks can stay relevant and position themselves for growth in a time of change.

Partnering for progress: Health claims administration in Canada
Healthcare accounts for 40 cents of each dollar provinces spend. Eager to realize maximum value, governments are re-designing healthcare delivery in Canada. Read “Partnering for progress: Health claims administration in Canada” to see how new models are improving outcomes and reducing costs.

Who said banks can’t be social? Become a social bank, inside and out
The social media revolution has changed the way customers interact with each other and with their banks. The social bank therefore needs to build relationships and products through a social media strategy. Read "Who says banks can't be social? Become a social bank, inside and out" to see how banks and customers can both profit from shared social value.

The path to sustainability: Creating a government culture with a cost conscience
Government has a mandate to steer the economy towards growth while continuing to provide services to citizens. The execution of these activities has been supported by government's ability to accumulate debt and raise taxes – options that are becoming less feasible in the current global economy. With pressure to grow the economy and rising citizen expectations, government needs to build a cost-conscious government culture. Read "The path to sustainability" to learn how cultural change within government can ensure services remain sustainable.

Disruptive manufacturing: The effects of 3D printing
3D printing will have a disruptive impact on many industries around the world over the next 20 years. There are many emerging opportunities but capitalizing on those opportunities requires a strategic framework for success. Read "Disruptive manufacturing: The effects of 3D printing" to learn about the present and the future of the additive manufacturing.

Optimizing the retail bank supply chain: How retail banks can learn from the consumer business industry to lower cost, reduce inventory, and boost productivity
Globally, cash in circulation has increased year after year and still plays a major role in advancing economic growth. But the costs associated with holding, counting and validating cash exceed $300 billion per year. By applying a proven consumer-business strategy and thinking of cash as "goods", retail banks can reduce excess inventory, improve operating efficiency, optimize their network of ATMs and lower their handling and processing costs. Read "Optimizing the retail bank supply chain" to see how your bank can boost productivity.

The Data Agenda: Learning to drive your Ferrari
Like a Ferrari, data is a valuable asset. And like a Ferrari, it must be used appropriately. Read "Learning to drive your Ferrari: The Data Agenda empowers your most valuable asset" to learn about a three-phase process for better control, security, compliance and use of the data within your organization.

Thriving in the age of data: Why Canadian banks need a central data authority
Like blood for an organism, data is the life force of any bank. By creating a central data authority (CDA) and chief data officer (CDO) within their organizations, Canadian banks can achieve better data insight. Read "Thriving in the age of data: why Canadian banks need a central data authority" to see how your organization can maximize the value of its data.

Tax Governance - Meeting the challnge of an expanding regulatory environment
As the global business environment becomes more complex, organizations are under intense scrutiny from government, regulatory and other stakeholders. Read "Tax Governance - The ultimate Compliance Solution" to learn how some organizations are developing strong and adaptable regulatory response mechanisms that minimize the impact on their operations and reduce organizational risk.

Think tax benefit, not cost - "Three lines of defence" for successful fiscal transactions
Global financial institutions are under intense scrutiny as they respond to high market expectations for growth and stability. As regulatory models expand, tax opportunities extend to virtually every business and financial transaction. Learn how the “three lines of defense” framework drives better business decisions and provides tax-efficient outcomes.

Deloitte marketing performance management: Helping clients understand & optimize their marketing investments
Organizations that master the data integration process will derive better insights, make better decisions and get maximum value from their customer interactions. Read "Deloitte marketing performance management" to see how Ncyte, a proprietary Deloitte software, provides automated scenario and predictive modeling that supports decision-making in marketing.

Tipping the triangle: Predictive analytics to mitigate empty envelope fraud
Evolutionary in nature and evasive by design, fraud is an ongoing concern and a major challenge to revenue security in the financial services industry. To better understand fraud and learn how advanced analytics can make a difference in countering fraud, read "Tipping the triangle: Predictive analytics to mitigate empty envelope fraud".