To succeed in the new normal, organizations need to redefine their consumer approach. Scott Rankin reviews key insights from a June 2020 KPMG survey of 1,000 consumers.
Rick Arpin says casinos should work "to attract new, younger customer segments while staying in touch with existing customers, who may not return to the physical property as quickly.”
"COVID-19 has taken a terrible human toll and it created a significant economic impact.," says Peter Torrente. "It has also accelerated the need for digital innovation at our country’s banks.’’
“Retailers need to rapidly re-evaluate their customer base, uncover the signals of permanent change and transform their business to meet customers where they are, in the new reality,” says Scott Rankin.
Arun Ghosh says the pilot shows blockchain could improve patient safety by reducing the time it takes to alert the supply chain of a product recall from a few days to a few seconds.
The U.S. economy shrank at a 4.8% pace during the first three months of 2020 as the coronavirus spread, the steepest contraction since the last recession.
Conor Moore says U.S.-based VC investors are poised to become even more cautious with their investments moving forward in the uncertain COVID-19 environment.
Regina Mayor says the drop "clearly shows the concerns in the market with the ability to take delivery and have a place to store oil as we move forward in the next few weeks."
Larry Kocot says the legislation aims to increase the supply of medical equipment, provide needed funding for treatment and vaccine development, and enhance overall preparedness for COVID-19.
These platforms were not built for this amount of volume in terms of performance, despite the heroic effort of the doctors, nurses and other clinicians at the frontlines of providing care.
The Automotive Industry is undergoing rapid change with the emergence of electric and autonomous vehicles. Gary Silberg, KPMG's Automotive Leader, has been at the forefront of the self-driving car conversation for nearly a decade. Subscribe to Talk
Tony Buffomante says companies should automate essential tasks wherever possible across analytics-based solutions, from access and fraud alerts to data privacy and risk mitigation.
Annalisa Barrett says Boards that include more women and directors with diverse backgrounds and experiences are more effective on a variety of measures, including financial performance, risk oversight and sustainability.
Lincoln Clark says universal standards and regulations in 5G, Internet of Things (IoT), and autonomous vehicles would be the most beneficial in helping to driving growth.
"We are now living in an AI world," says Traci Gusher. "If businesses can overcome the challenges, they stand to see even greater returns in the coming years."
KPMG's Chairman and CEO says technology, environmental sustainability and the economy are at the heart of many conversations at the 2020 World Economic Forum.
Lincoln Clark says tariffs are introducing significant complexity into the supply chain, from inventory planning to logistics to customs clearance and compliance.
Linking conversations on strategy, risk and global disruption and understanding how stakeholder expectations are influencing long-term strategy will be critical for boards in the year ahead, according to the Board Leadership Center.
Michelle Wroan says many viewers wish it were easier to find content, noting a desire for better search options, more intuitive user interfaces and more accurate recommendation engines.
Katherine Black says loyalty is critical to brand growth and is as important as ever, but it is not as simple as copying an existing loyalty program and putting it into market.
Michael Herman says businesses must become more customer-centric and compete on the basis of customer experience, which means ensuring agility and curiosity.
“Organizations that move beyond the ‘consumer’ to the ‘individual,’ with a focus on purpose and personalization, achieve greater customer loyalty," says KPMG's Julio Hernandez.
Miriam Hernandez-Kakol advises businesses to build stronger connections between customers and experiences, talent and technology, data and decision-making, and inputs and outcomes.
With the increased technological, analytical and regulatory demands in finance functions, Ron Walker says only future ready finance groups are equipped to deliver business solutions that successfully drive enterprise performance.
Gary Silberg says four “megatrends” — electrification, autonomy, connectivity and mobility as a service (MaaS) — are reshaping the auto industry and dramatically increasing the semiconductor content in vehicles.
KPMG's Public Investment Management practice leader will speak about the new American Institute of Certified Public Accountants Accounting and Valuation Guide at the organization’s Forensic & Valuation Services conference.
“Organizations that move beyond the ‘consumer’ to the ‘individual,’ with a focus on purpose and personalization, achieve greater customer loyalty," says KPMG's Julio Hernandez.
Conor Moore says the strength of the U.S. market is likely driving a lot of the VC investment in other regions, including Europe and Latin America, where investors can get better prices than they might get here.
Sean Sullivan says the volume of personal data consumers are trusting providers to maintain is increasing exponentially, and consumers remain concerned about how cyber breaches might affect them personally.
The race to market is already on, Scott Rankin says, so retailers need to understand how consumer preferences are shifting, how consumers will spend their money and how the digital and physical worlds merge.
Lynne Doughtie says advancing growth, improving innovation and investing in people and technologies can help increase the resiliency of organizations in the current business environment.
Dipan Karumsi says it's critical for companies to build a frictionless procurement function that streamlines processes and aligns with the organization’s business objectives.
Larry Kocot says new rules could have unintended consequences as the list prices that will be disclosed to patients are much higher than any patient generally has to pay.
Emily Frolick says CEOs seeking transformational change are beginning to see that a rapid, wholesale rip and replace approach will not deliver the desired results.
Tania Carnegie says a growing number of investors seek to earn both a financial return and generate positive social and environmental impact through their portfolios.
Yesenia Scheker-Izquerdo explains that if real estate owners and asset managers take steps to advance women, they'll see their returns on investments soar.
Brian Higgins says advanced clients and customers expect transparency, low costs and high levels of service, and they are requiring supply chains to operate at new levels of efficiency.
Michelle Wroan says media companies need to become more focused on going directly to consumers and competing for the talent needed to produce good content.
Katherine Black says leveraging advanced analytics was once a unique strategy for a few elite players, but now is a critical tool for grocers at large.
“While oversight varies by company and industry, audit committee members should ask for regular updates on cyber strategy, preparedness and response plans,” says Jose R. Rodriguez, leader of KPMG’s Audit Committee Institute.
KPMG Chief Economist Constance Hunter says the labor market is in a healthy place and the Fed has near perfect conditions to remain in pause mode and to extend the expansion.
"Investment in and adoption of IA technologies are occurring at a rapid pace," says Cliff Justice, "but many organizations are struggling to demonstrate significant impact.”
Blockchain can eliminate inefficiencies in supply chains, address the challenges of global trade and tariffs, improve product tracking and safety, help reduce fraud, automate tax processes, and better track and protect data.
Tim Zanni says Silicon Valley’s traditional tech industry dominance is being challenged by an overburdened infrastructure, high cost of living and other concerns.
Michelle Wroan says cable companies, wireless service providers, technology giants and media companies are racing to find the right balance between content, price, access and consumer preferences.
Lynne Doughtie says the future of work, cyber security and widening geopolitical divisions will be at the heart of many conversations at the 2019 World Economic Forum.
Most recognize the need to transform their workforces, but only 40 percent have a plan ito do so. Mike DiClaudio says organizations that don’t risk falling perilously behind.
Talent in the boardroom and throughout the organization, along with understanding the potential impact of disruptive risks posed by advances in digital technologies, will be critically important.
With the unemployment rate at falling to a level unseen since since 1969, Constance Hunter says there is good reason to believe wage gains are here to stay.
Amid ever-changing technological, economic and regulatory challenges, businesses need effective supply chain management that will accelerate growth, increase efficiency and offer new and differentiated value for their customers.
KPMG Chief Economist Constance Hunter says the financial markets remain concerned about the fallout from trade rhetoric, but so far the labor market seems on a steady path.
KPMG Chairman and CEO Lynne Doughtie says businesses need to weigh what they stand to lose if they don’t adopt new technologies, or adopt them imprudently.
