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How trust can make
or break the deal
Sustaining
competitiveness
in a digital age
2Copyright © 2016 Accenture All rights reserved.
In a digitally disrupted world, trust has
become the new currency
Three t...
3Copyright © 2016 Accenture All rights reserved.
The value of data ethics
Companies are now collecting huge
volumes of per...
4Copyright © 2016 Accenture All rights reserved.
The good news: Customer trust runs both ways
Trust-building approaches to...
5Copyright © 2016 Accenture All rights reserved.
Trust: Value beyond the bottom line
Businesses that quantify and articula...
6Copyright © 2016 Accenture All rights reserved.
How can businesses
address the risks and
opportunities of digital trust?
...
7Copyright © 2016 Accenture All rights reserved.
Three ways to build trust
1. Activate the
trust detector
If companies
tho...
8Copyright © 2016 Accenture All rights reserved.
Connect with us on:
LinkedIn
Join the conversation:
@AccentureStrat
Find ...
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Sustaining Competitiveness in a Digital Age: How Trust Can Make or Break The Deal

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Trust is vital in creating and destroying value—companies seeking digital transformation cannot afford to ignore it.

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Sustaining Competitiveness in a Digital Age: How Trust Can Make or Break The Deal

  1. 1. How trust can make or break the deal Sustaining competitiveness in a digital age
  2. 2. 2Copyright © 2016 Accenture All rights reserved. In a digitally disrupted world, trust has become the new currency Three trends have significantly elevated the importance of trust in stakeholder and consumer relationships: 1. Digital transformation demands responsible business conduct, especially around the use of personal data 2. Digital disruption unsettles society, raising concerns about its impact on everything from jobs to security 3. A rise in collaborative business models puts trust at the heart of customer interactions
  3. 3. 3Copyright © 2016 Accenture All rights reserved. The value of data ethics Companies are now collecting huge volumes of personal data as they compete on managing the customer experience. Failure to adapt to consumer concerns around ethical data use can: • Increase costs • Limit access to new revenue streams Case in point: Automotive company Volkswagen saw a 40% decline in its share price in the weeks following the emissions scandal1 1. Schroders Talking Point, http://www.schroders.co.uk/en/SysGlobalAssets/digital/insights/pdfs/vw-emissions-scandal-death-of-diesel.pdf.
  4. 4. 4Copyright © 2016 Accenture All rights reserved. The good news: Customer trust runs both ways Trust-building approaches to personal data can drive quantifiable business value of business leaders from products* companies believe addressing concerns over data usage gives them an opportunity to fuel new growth and enhance long-term loyalty Shopkick An app that allows customers to voluntarily share location data in return for tailored offers and discounts in real time John Deere The farm equipment giant uses sensors in its equipment to collect data on farmer’s activities—and offers insight on improving crop yield in return WHO’S DOING IT RIGHT? 86% * Defined as automotive, consumer goods and services, industrial equipment, logistics and distribution, tourism and transportation
  5. 5. 5Copyright © 2016 Accenture All rights reserved. Trust: Value beyond the bottom line Businesses that quantify and articulate the impact of digital technologies’ use on society will: • Help protect their future license to operate • Offer new ways to align societal objectives with market forces Accenture Strategy analysis shows that in the United Kingdom, digital transformation of consumer industries could realize the equivalent of around US$247 billion (GBP£185 billion) by 2025. The potential value is significant:
  6. 6. 6Copyright © 2016 Accenture All rights reserved. How can businesses address the risks and opportunities of digital trust? Copyright © 2016 Accenture All rights reserved. 6
  7. 7. 7Copyright © 2016 Accenture All rights reserved. Three ways to build trust 1. Activate the trust detector If companies thoroughly understand those areas where trust is critical, they can invest the right management time and resources 2. Bake in trust transparency Companies must understand how more sustainable products and services can deliver better financial returns, and take action to achieve transparent digital innovations 3. Champion trust accountability By tackling the disruptive elements of digital technologies head-on, business leaders can help restore trust and engage a wide range of stakeholders in the process The key is translating trust into tangible economic value
  8. 8. 8Copyright © 2016 Accenture All rights reserved. Connect with us on: LinkedIn Join the conversation: @AccentureStrat Find out more To learn more about Sustaining Competitiveness download the full report: www.accenture.com/sustainingcompetitiveness

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