Embraer named the most innovative company in Brazil for the 3rd year in a row

17 July 2018 Consultancy.lat

Brazilian aircraft manufacturer for commercial, executive and military markets Embraer has been named the most innovative company in 2018. The ranking conducted by PwC’s Strategy& in Brazil judged companies on the value that their innovation had brought to the business as well as a number of other criteria. Embraer was followed by other Brazilian firms including Whirlpool, Petrobas, Natura and 3M do Brasil.

Embraer generates 50% of its revenue with products and services that have been created within the past half a decade. The company is at the forefront of aviation technology and is considered to be one of the world’s leading manufacturers of commercial and executive jets. Founded in the late 1960s by an ex-airforce man Ozires Silva, the company has grown to have a revenue of $5.8 billion in the 2017.

Annually, the company puts roughly 10% of its total revenue into research and development. At Embraer’s Business Innovation Center – located in Florida – the company’s team of works tirelessly to predict and create the future of air mobility. Embracing disruptive technologies is at the heart of this, with advanced robotics, automation and autonomous vehicles all trying to find their place amongst industries globally.

Beyond Industry 4.0, Embraer is tackling the usual suspects when it comes to transport and logistics; increasing efficiency, reducing noise, decreasing operational costs and reducing greenhouse gas emissions. Biogas, the company believes, will be an important part in creating a more sustainable aviation industry. They’ve already produced the worlds first and only ethanol fuelled Ipanema, a light aircraft predominantly used for agricultural spraying which has become a global symbol of sustainable aviation and agriculture.

“Innovation is deeply rooted in the company’s culture and mindset. It is part of our daily routine and is not just limited to the development of new aircraft. Innovation permeates everything we do across the value chain, from the development of new and improved products, processes and business models to finding better ways to position ourselves in the global market. You could say that innovation is in our DNA,” said Wander Menchik, Head of Embraer’s Technology Development Program said late last year.

Embraer has been named the most innovative company in Brazil

Embraer has also been in development with Uber regarding a new program to introduce small electric vehicles which operate in urban areas. The first prototypes of these vertical take-off and landing vehicles (VTOLs)  may be only 7 years away. “We think it is important to explore a number of new business concepts that have the potential to shape air transport in the future. Our partnership with Uber is a unique opportunity to complement our air-transport knowledge with that of a visionary and revolutionary ground-transport company,” said Menchik.

“Our long-term survival depends on our ability to come up with and apply game-changing ideas and concepts. That is why every year we invest nearly 10 percent of our revenues in research and development (R&D) and in upgrading our industrial facilities. This is essential because it allows us to remain competitive within the global aviation market,” he said.

“Innovation is at the heart of Embraer’s business strategy and since we began operating nearly 50 years ago, innovation has driven our success, enabling us to constantly break new ground, identify unexplored niches and reach new heights. Today, almost half of Embraer’s revenue comes from innovations or significant improvements implemented over the last five years,” he concluded.

The rankings were compiled by Strategy& – the strategy consulting arm of PwC’s operations. Strategy& in collaboration with Valor Econômico, one of the largest Brazilian newspapers. The results were published in a magazine titled Valor Especial Inovação earlier this month.

Meanwhile, Industry 4.0 technologies are being promoted heavily throughout Brazil, especially by the government. Consulting firm McKinsey & Company compiled a report last month titled the ‘Action Plan for Brazil’ detailing the country’s potential in Internet of Things technologies, which estimated that adoption could boost the Brazilian economy by up to $200 billion by 2025 and has now become the country’s main IoT strategy paper.

Profiles

Colombian and Brazilian banks awarded for innovation

01 November 2018 Consultancy.lat

A Brazilian and a Colombian financial institution have walked away as winners at the annual EFMA and Accenture Distribution & Marketing Innovation Awards 2018.

The awards were launched as a joint initiative between global professional services firm Accenture and the international retail banking non-profit EFMA to encourage and celebrate innovative projects in the banking industry. The Efma-Accenture Distribution & Marketing Innovation Awards have since their 2012 inception received more than 2,750 submissions from 650-plus institutions based in 94 countries.

At a ceremony in Lisbon, the awards were granted to projects across eight categories: Analytics and Artificial Intelligence, Digital Marketing & Communication, Offering Innovation, Phygital Distribution & Experience, Workforce Experience, Social, Sustainable & Responsible Banking, Global Innovator, and Neobanks & Specialised Players. 

Colombia’s Bancolombia and its innovative AI solution 'Plink' took home the award for the Artificial Intelligence category. Plink is an intelligent data analytics-driven platform which brings powerful insights to merchants and brings consumers the most relevant offers based on their preferences.

Gabriel Di Lelle, Vice President of Innovation and Digital Transformation of the Bancolombia Group said of the victory, “Plink provides businesses with a profound knowledge of their business’ health, so they can make decisions based on transactional information, and utilizing tools of which are normally out of reach. Additionally, they allow people to receive offers along business lines relating to their interests and consumer habits.

“We feel proud that thanks to the understanding of the necessities of businesses and consumers, Plink has been named the most innovative development in terms of analytics and AI by EFMA, one of the world’s most prestigious organizations who are dedicated to the transformation and innovation in financial services,” the executive added.

Colombian and Brazilian banks awarded for innovation

Banco Bradesco of Brazil was the only bank to walk away from the ceremony with two awards, showcasing the ongoing commitment to fintech in Latin America. The Brazilian financial institution won the Digital Marketing & Communication award for its 'Lollapalooza Brazil Bradesco Coverage' solution and was named Global Innovator for several innovative products it brought to market in the past year. 

The Lollapalooza Brazil Bradesco Coverage solution is an innovative way for the bank to engage younger customers through one of the world’s largest music festivals. “Bradesco has a history of being avant-garde and being a pioneer. This recognition is the coronation of the work that has been done for years to contribute to innovation in Brazil and in the world,” said Bradesco’s Vice President Maurício Minas.

Other innovations, such as the Bradesco Artificial Intelligence platform (BIA), inovaBra habitat, the Bradesco Coupon Platform, and NFC programmed withdrawal contributed to the bank’s Global Innovator award. “This year was a milestone for the bank with the launch of innovative habitat, which is part of the platform created to promote innovation from an ecosystem of programs based on co-innovation,” Minas said. 

Piercarlo Gera, global managing director of Accenture Distribution and Marketing Services, said; “Once again we have seen DMI Award winners shaping digital technologies to create innovations that generate value for both their customers and their own organizations, strengthening client relationships and having a strong impact on revenue growth and profitability.”

“They engage customers while becoming more streamlined organizations that develop their people and drive industry progress. Retail banks are experiencing increasing competition from non-traditional providers, but they are rising to the challenge. The geographic diversity of this year’s winners shows that innovation truly knows no boundaries, as digital adoption is rapidly increasing similarly across developed and growth countries,” Gera concluded.