Seizing the idea – our innovation project!
This project is our opportunity: we do not want your ideas to remain stagnant at an initial stage. We want them to quantify into unique business opportunities, which we would later test with clients and work on their improvement. Thus, we challenge you to generate valuable new solutions and ideas that our clients need now and see them develop in the market!Submit your idea!
We innovate because we are leaders. Our work leverages our personal, distinctive knowledge and creativity. Our expertise should not only be regarded as theoretical knowledge but rather also perceived as a tool to help our clients excel in their businesses, especially as we are always seeking new ways in which to organize our work and collaborate. By using our global network and leveraging our external partners, we continuously find new manners to put our knowledge in the service of our clients: identifying new needs, coming up with solutions to meet those needs, synergizing those with both internal and external expertise or even digitalizing opportunities. We do this because of our inner drive to create, evolve, and thrive - as professionals, business people, leaders.
- We believe that you need to drive innovation from deep, unconventional user insights – thinking outside the box
- Insights relate to a specific user (client) and their needs
- Innovations are wider than products and services. They can also relate to the way we deliver them, with whom we deliver them, how we deliver them, etc.
Do you have an idea? Then click this button and write it down. You need to think of who the user of the solution would be, what the need is and why that need exists. All ideas will be collected and shared via a weekly updated, anonymously, for people to go through & comment on, should anyone have any additions about the extent of the solution’s applicability, its target, or its implementation. Each week, the best ideas will be chosen by Alex Reff, Ruxandra Bandilă, Adrian Teampău and Maarten Oonk. You can continue to submit ideas for 3 weeks and every week we will select the most innovative ones.
Which types of projects can you contribute with?
This program does not only refer to business opportunities, but rather it covers a wider range of solutions, which can also extend towards socially-bound initiatives that would contribute to the betterment of our communities in these challenging times.
Reconciliation of taxes paid
This solution is destined to be used by accountants because it addresses their need to check regularly that the taxes actually paid match the records of the tax authority. This need comes from the fact that in case of overpayment of taxes, the taxpayer can ask for reimbursement or compensation. In case of underpayment, interest and penalties start to accrue. Taxpayer records are available online, so it would be useful to automate the matching between the tax returns, payments and those online taxpayer records.Read more & Contribute
CMS vendor-matching program
This project comes from our LMC team and it aims to be a contract management system (CMS) - vendor matching program, shortlisting CMS solutions for clients faster and with less resources, leveraging existing knowledge of the vendors. The problems stems out of the idea that the number of vendors has increased and it is becoming increasingly time-consuming to shortlist vendors. The solution, apart from saving a considerable amount of time, has the potential to improve the quality of our services and allow us to more easily offer clients the best choice for their needs. In terms of investment, the program is already working and does not require costs for implementation in Romania, but costs for implementation in other LMC teams might be needed, depending on the chosen infrastructure.Read more & Contribute
Operational Reconciliation Solution
This solution is destined to be used by accounting departments in any industry, or any department working with financial data. It aims to reduce the time spent in reconciling data sources, increase the quality of reconciliations, explain differences and trends. The value offering is employing technology, automation and potentially artificial intelligence to substitute partly the human expert, consequently diminishing reliance on key personnel, reducing costs, improving quality and adding new data sources which are hard to process by humans (OCR documents, 3rd party data, etc.).Read more & Contribute
Automate and Gamify Compliance
The second project is also put forward by our Risk Advisory team and refers to the automation and gamification of compliance. Targeting specific departments, such as Compliance, Risk, Internal Audit or Legal, it draws on the need for ensuring that employees deliver timely all sorts of regularly required information ranging from timesheets to complex risk data for GDPR. For example, Internal Audit may ask for updates on agreed actions. Legal departments may ask regularly for changes in the processing of personal data. Compliance may need to ensure employees have given appropriate disclosures. Risk departments may ask for risk mitigating measures.
The value offering is employing chat bots to automate as much as possible follow-ups in a smart way. They would check first automatically what is missing from each person and follow-up punctually letting them know each employee in particular what they need to improve. A gamification incentive can be added for timely / accurate responses.
Transfer Pricing Risk Analysis Tool for Enterprises
This solution refers to an automated primary risk analysis on TP documentation and transactions, fueled by a lack of any online app currently available on the market in this field and with this scope. Among the main objectives of the solution there are:
1. Elimination of the common errors from the TP documentation and increase compliance with national legislation on transfer pricing – e.g.: comparability study, TP structure documentation and missing information regarding company/benchmarked transaction;
2. Assessment of financial loans, comparing loan rates with the data base from National Bank of Romania;
3. Assessment of royalty rates of intangibles;
Personal Tax App
The second project refers to a solution oriented towards individuals, that need to submit the annual personal income tax return (form 200). Right now, the process of completion requires a lot of time and some tax knowledge. In some cases the result can be an overpayment, which entitles individuals to a tax refund.
The official guidance is not very helpful, and, while the filing is mandatory, the process is manual and it requires some basic tax knowledge. The proposed solution would be a very intuitive web/ phone application, with a user friendly click-through process for completion that anyone would understand. Users would pay a fee for the app only if the result of completion is a tax overpayment – and, as such, entitled to a tax refund.
Legal citizen developer hub for automation components
This solution came about as major platforms are standardizing and making their APIs and interfaces more fluent and power users are seeing more opportunities to integrate them
The minimum desirable product is a shared space where power users can submit packages of automation components and integrations (such as in UiPath and Microsoft Power Automate). The packages are made of one or more files that when ran in UiPath Studio, StudioX, Automation Anywhere etc. integrate commonly used platforms and tasks that can quickly solve a repetitive problem. When there are enough submissions from these type of users, the platform can evolve an opportunity discovery feature and a curation/gamification mechanic. In the end, the same solutions would be suitable to be transformed into Deloitte-curated packages that could be sold to clients along with the technology offerings, on a subscriptions or one-time fee basis.
The initiative is based on the fact that we are visual beings: we react to common stimuli of well-crafted narratives and emotional design. If the communication professionals are included in the engagement early enough to have time to understand the client details, then they can add value to most proposals in two key areas: added-value services (increasing margins) and client-retention value, such as prospects that reject a proposal based on costs but come back shortly after for another.
This idea is not new: it happens in other Deloitte practices in other countries, it has measurable win impact, and has been studied for a while now. Our team has visited an ,,agency" like the one described here in the US Tax practice; they use a high-level design thinking framework to make different teams communicate and iterate more effectively. The result is a clearly positive win rate. In Romania, you can get designers to work in these type of projects a much lower cost than senior lawyers, and as a plus they would be able to drive the transformation of the pursuit process for the digital age. The question is how to make sure their contribution is actually taken into consideration by the senior leadership.