Innovation and creativity can provide solutions to many urgent and long-term challenges in the context of economic, social and sustainable development. At BDO, therefore, we are constantly looking for ways to make our processes and operations more efficient and positively transform. And if we don't see such a path, we will create it.
The international BDO network has therefore built a platform that gives space to develop the innovative and creative ideas of all its members around the world. All you have to do is keep an open mind, find and grasp a good idea and we will help you realize it.
This year, the initiative supporting a mass of great ideas is called the Innovation Seed Fund Program - an acceleration program designed to discover exceptional solutions, maximize their use and support meaningful change through mentoring and funding.
"In this fast-changing world, we don't stop investing in technology to help our clients. BDO is a progressive thinking organization, ”Keith Farlinger, Global CEO, BDO
The fact that it is not just empty words and that our people carry the hearts of innovators has convinced us of the winning projects so far. These not only helped to advance the BDO itself, but we tried to transfer their effect to the maximum extent to clients and all companies for whom the need for growth is not just a textbook phrase.
Cheers for innovation
Technologies help us to grow but also to minimize. For example, they help mitigate the negative impacts of humanity on the environment and eliminate unsustainable solutions. Closely related to this is the contribution of last year's BDO prize project to the competition of innovative projects.
The Sustainability Toolbox (BDO) is a winning solution that helps organizations integrate sustainability into their DNA. It helps them manage to respond as best they can to the growing pressure on responsible business. This web-based tool collects client data and, when processed, generates a personalized report with automated digital consulting to improve the company's synergy with sustainability requirements. It contains relevant reference data that can be taken into account, measures that can be taken and tips to further promote sustainable development.
Among the winners can be found an initiative such as BDO Smart & Sustainable Cities, which was launched two years ago. This project brought together global experts on sustainable development, digital infrastructure and related funding for PPP projects (public-private partnerships) and ESG projects (pursuing sustainable environmental, social and governance criteria) to create a structured survey focusing on the sustainability of cities and municipalities. By processing the results, this tool has already helped many cities in Belgium, Canada, the Netherlands, Norway and Switzerland.
Our next tool, which focuses on diagnosing the possibilities of switching to renewable energy sources, expands the answer to the question "How to do business responsibly?" even more. The transfer of a business to greener energy is a megatrend that will change the way economic systems and companies work. We have therefore created an automated tool, the output of which for companies is a personalized reference report providing direct feedback on the state of society on the issue of energy transformation. This tool, along with a wealth of advice and valuable information, is available on our BDO Global "Energy in Transition" website.
In the field of energy transformation, we see 3 key determinants to which companies will sooner or later be forced to respond:
1. Increasing ESG reporting requirements by investors and stakeholders, which will ultimately affect the behaviour of companies shortly.
2. The growing need to report on climate risks - as identified by the Climate Change Disclosure Working Group, which only promotes the "what can be measured, can be managed" ethos.
3. The last, but no less important, the determinant is the need to reduce emissions throughout the supply chain. The introduction of carbon taxes and tariffs worldwide is likely to disrupt the functioning of many industries and companies.
All these great innovative solutions were created only thanks to the fact that at BDO we believe in the uniqueness of each employee, regardless of their position, gender or years of experience. Creativity and innovation are not limited by anything. That is why we try to create a space for our employees where they will be able to fully realize themselves and find the support they need in BDO in achieving their goals.