One of the core elements to drive innovation within BDO Belgium is our Innovation Board. The task of this council is to mould innovative initiatives from our co-workers into a workable process, leave the space to develop them into a project, and then support and evaluate them in this, e.g. through our internal BDO Dragons’ Den competition.
Not only do colleagues from all business practices and diverse backgrounds sit on the Innovation Board, the added value of two external experts also comes into play: Frank Zwerts, Serial Tech Entrepreneur, and Ruth Janssens, Managing Partner at imec.istart Future Fund.
How do they perceive their role as external members of this board? Why is focusing on innovation so important for BDO and for companies in general? Watch the conversation on video here.
Innovation as a growth engine
As an experienced investment professional, the importance of innovation within organisations is clear to Frank. “To create a successful organisation, you need the ‘holy trinity’. You can only achieve your valorisation and growth ambitions as a company by bringing in the right talents, focusing on different types of innovation and then expanding internationally.”
Frank is therefore pleased to see that these three elements are present within BDO. In addition, he does highlight one other crucial aspect. “A framework and support from senior management are, in my opinion, the most important factors to develop an
innovative mindset within a company. You cannot innovate successfully without dedication and motivation from management. At BDO, I notice that the innovative vision trickles down from executive level to all co-workers.”
Innovation not only boosts the growth of the company itself, it also contributes to co-worker development. Ruth explains: “Participating in innovation projects is the perfect opportunity for co-workers to develop themselves. A lot of guidance is provided within BDO thanks to the Innovation Board. This gives them the opportunity to grow and create impact on the organisation and society, which leads to a lot of satisfaction in their job.”
BDO Dragons’ Den: the power of feedback
One of the innovation processes BDO colleagues can participate in is BDO Dragons’ Den: an internal innovation competition that encourages co-workers to propose their own innovative solutions and projects.
Ruth: “What makes this formula so attractive is that the ideas come from the co-workers’ field of work. They start from a specific need or problem and are thus very valuable, both for BDO and for the employees themselves.”
Frank: “BDO Dragons’ Den allows co-workers to get very hands-on with innovation. The concept is widespread and the success is there too. Colleagues are well prepared, there is a growing trend in interest… In the end, it’s not about winning or failing, both are of secondary importance. It is primarily about the thought process and experience you gain while innovating.”
Outside-in expertise
Thanks to Ruth & Frank’s presence on BDO’s Innovation Board, co-workers get feedback not only from internal experts but also from two external professionals with a lot of experience.
There is good interaction between the internal members of the board and myself (and Frank). Often, as an external party, we have a different perspective e.g. on the composition of teams or possible pivots within the business model of an innovative idea. Internal members are more likely to focus on internal operations, while we can broaden that view. That’s where I think the real added value is
Frank: “It takes guts from a company to involve external parties in this kind of process. After all, we get to hear a lot of internal information but, at the same time, this openness also creates a unique bond. Being an external professional allows me to share my view from the outside in.”
A look to the future
What the future holds in terms of innovation is still unclear to many. For our two external experts, it’s not so much about which new technologies are emerging, but rather how to look at innovation.
An innovation process is an uncertain journey that requires time, resources and attention. You can only truly positively influence the outcome of the process by involving everyone in your organisation and getting the right mindset from management. Set the right objectives, get proper guidance, and share your progress to foster a sustainable innovation culture within your company
Ruth: “For the client and employee of the future, it is essential for companies to be committed to innovation. Innovating is a growing requirement in the market, and not going along with it means losing a competitive advantage as well as potential talent.”
Want to know more about innovation & impact within BDO and how BDO can help ?
BDO’s innovation experts apply the practical experience and knowledge gained from working with clients locally and worldwide.
Please reach out to the relevant partner in your local BDO firm for further information.