In a discussion with CXO Talk’s Michael Krigsman, Deloitte Global Chief Operating Officer Frank Friedman talks about how the company is breaking down silos and innovating at a global scale.
“Our operating models continue to change based upon our client needs. Our focus continues and will always be our clients. My job is to merge strategy with execution,” Friedman explains. “For a long time, people thought, ‘You’re just an accounting firm, you’re just a tax firm.’ But consulting is really a significant piece of our business as well. And so, our model is not only time and material now, but it’s building of products, building of IP, selling of products, selling of IP, subscription-based income, working with the global economy in terms of contractors. My job is to start taking that, the strategy, and making certain it gets implemented.”
On the customer experience:
“Serving clients is what we do. Our whole mission is to serve clients, to have an impact that is important, and to be able to serve clients in an exemplary manner, to solve their issues, and to have trust in the markets. Behind that, it takes infrastructure. A big piece of my job these days is really to try to globalize the firm.”
On global transformation:
“When they call Deloitte, they’re calling Deloitte. They’re not calling Deloitte U.S. or Deloitte UK or Deloitte Australia. They’re calling Deloitte, and they expect Deloitte to deliver on its promises, to deliver solutions and deliver audit quality anywhere in the world at any time.”
“If you do technology right, and if you do globalization right, not every geography has to implement, innovate, design, and do the same things because it’s already been done. You should be able to roll it out on a much more scalable basis, much quicker. That’s important, but it is not as important as making certain that we serve our clients in a global manner. In the end, our clients expect us to do that,” Friedman says. “People oftentimes get caught up in the minutia of change. In technology, as an example, they get caught up in customization or how good can we integrate with other systems… They then need to think about their culture and how their culture can support transformation. Does their culture today support transformation? If not, then how are you going to change the culture to do that? I think a lot of it is top-down driven. You have to have business leaders committed.”
Watch the full interview above to hear more about how Deloitte is driving efficiency and digital transformation and innovating at a global scale.