Below you'll find our insights into the gamechangers that we feel most affect Automotive. You can also watch all six of our videos focusing on each of the gamechangers here.
We have identified three of the most important gamechangers in Automotive today. These are the hottest issues in enterprise risk, going right to the heart of your company's strategic agenda. Individually, they are so important that a good or bad decision relating to any one of them, could dramatically and irrevocably change your organisation’s fortunes. Collectively, they make up a significant proportion of the modern board agenda.
Giving automotive businesses confidence in their digital future
From manufacturing processes to consumer interactions, the automotive industry is riding the digital highway. Digital innovation is impacting relationships with the customer, driving tighter supply chain integration and new sourcing models. New ways of exploiting bulk data, encouraging faster R&D processes and utilising new production technologies are all benefitting the industry while also putting pressure on car production lifecycles. Disruption and opportunity via automated vehicle technology and their ability to connect to the internet are with us today with so much more just around the corner.
In an environment where Trust is a key issue and driver of brand value, cyber security has therefore become more important than ever before. As well as the importance of protecting customer data, risks for automotive manufacturing today comes from multiple sources that look to attack the supply chain and impact the delivery of your order book. Your ERP and distribution management systems are all vulnerable and there is even a risk to the effective operation of production lines, as systems controlling manufacturing equipment become targets. Furthermore, the significant investment made in research and development of new products, technical specifications and other intellectual property can be put at risk with ineffective or non-existent cyber security.
Our Cyber Security team specialise in helping organisations shape a broader business led strategic response to cyber risk, considering not only the technical aspects of effective security but also the supporting business processes and security culture that often get overlooked. We work with many industrial products companies to consider the best way to apply cyber security to the heart of production and control systems, as well as addressing risk across the wider supply chain.
Helping automotive businesses get closer to their transformation programmes
Expanding global footprints, a diversifying portfolio, the evolving consumer and a highly competitive environment are all playing a part in driving organisational change in automotive businesses, such as the transformation of sourcing and procurement functions, improving the supply chain, optimising sales and service, and integrating legacy operations.
Most senior automotive executives will only ever sponsor one or two big transformation programmes. And these can be defining moments for the organisation. Senior sponsors need to feel closer to the detail of a programme, increasing their confidence and certainty of achieving the desired outcome.
Our team has a track record of helping clients successfully deliver transformation programmes based on deep programme experience. We provide expertise in areas including total transformation assurance, independent council, risk identification and the third party support required to keep major programmes aligned to your key business objectives.
Who’s keeping your promises?
Trust is even more important where you rely upon others to keep your promises. Specialisation, offshoring, outsourcing and cost cutting – this is the reality of business and your reliance on third parties will only grow.
Third Party Trust is a key focus for an automotive business wherever it sits in the supply chain. The price of getting this wrong is high, to both reputation and the bottom line, whether resulting in product recalls, disruptions in the supply chain or the cost in reputation and fines of foul play by businesses you hold relationships with who are based in other geographies. As agreements between your network of stakeholders becomes increasingly global and ever more complex, identifying areas where you may be exposed to risk as a result of these relationships is of growing importance.
At PwC we believe promises are made between people, not organisations or contracts. Trust can only exist where there is a clear line of sight between the promises you make and the people who are accountable for delivering them.
We know that building resilience into your promises requires more than single solutions – so we work across multiple competencies to develop third party trust, from working with senior management in order to understand your ecosystem of promises and relationships and identify the most important, to embedding focus into the operating model, to helping you improve relevant policies, governance and monitoring framework, processes, data and technology.