In today’s business world, innovation is essential for growth and competitiveness. At PwC Luxembourg, the leader for the innovation program – Exponential, drives transformative initiatives aligned with strategic objectives. In this article, we explore PwC Exponential’s role in fostering innovation, meeting client needs, and driving value creation. Christian Heinz, Tax Partner and Exponential Team Leader, shares insights into initiatives like Dragons and the Exponential bonus, while highlighting successful projects enhancing the firm’s offerings. Join us as we shape the future of business in Luxembourg and beyond.
Could you describe your role as the Innovation Leader at PwC Luxembourg and how it supports the firm’s objectives?
As PwC Luxembourg’s Innovation Leader, my primary role involves fostering an innovation culture within the firm. This encompasses promoting and establishing an innovation mindset, enhancing internal collaboration, and refining our current working methods. “Nothing is as constant as change; you need to be willing and ready to experiment with new concepts, like transitioning from a petrol car to an electric one,” illustrates the dynamic nature of our work. A significant part of my job is to encourage a bottom-up innovation approach, where all 3500+ employees are empowered to contribute towards the future of the organisation and the creation of a modern workplace.
The promotion of our working culture, where teamwork is paramount and every voice is valued, aligns closely with our core values of ‘working together’ and ‘reimagining the possible’. This is vital in building trust in society and tackling important problems, ultimately driving the firm towards developing innovative products, and services for our clients, and generating additional revenue.
How do innovation and intrapreneurship within PwC Exponential generate value and satisfy client needs?
Innovation and intrapreneurship within PwC Exponential are instrumental in creating internal value by stimulating a culture conducive to the exchange of ideas and out-of-the-box thinking. “This can directly impact our ways of working, as seen through initiatives like the Innovation Aperitif, an event through which we show innovation methodologies applied to relevant topics for our firm and put them into practice in a relaxed atmosphere, or Idea Lab, a platform through which we launch innovation challenges and gather ideas from anyone in the firm who wants to contribute to innovating our client’s service offering”. The incubation process, especially external through client interviews, ensures that we are meeting client needs and prioritising user experience, thus linking our innovative products directly to market demands.
Can you share the impact of initiatives like Dragons and the Exponential bonus on innovation at PwC Luxembourg?
The Dragons initiative and Exponential bonus are pivotal in fostering innovation within PwC Luxembourg. The Dragons is our flagship event, where people can pitch their ideas inspired by a topic or industry that is relevant for our firm, engaging in an entrepreneurial experience. This broadens their learning and exposes them to new concepts outside their day-to-day roles. “It’s a framework that guides them through ideation and, if their idea is selected, through incubation, providing those ideas with an innovative, sustainable and structured business model. Successful intrapreneurs are also eligible for a financial reward, awarding winners for their innovative solution through our Exponential bonus.
Could you highlight some successful initiatives from PwC Exponential and how they contribute to the firm’s offerings?
Notable contributions from PwC Exponential, such as supporting our Regulated Solutions practice in launching fund administration services or outlining the business case around Corporate Secretarial services exemplify our commitment to supporting strategic projects akin to managed services. We’re proud to have been an integral component in bringing one of our latest offerings, ESG Data Compass, to the market in less than a year’s time. While such initiatives enhance our service offering, the Exponential team also significantly contributes to the firm’s education, particularly in the application of General AI. “We connect the key points we are working on,” ensuring a coherent approach to our service offerings and strategic goals.
