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COVID-19: Driving European competitiveness and innovation

July 7, 2020



Create value for the responsible customer

Purpose-driven brands and companies that commit to issues like environmental protection, social welfare and inclusive governance connect better with customers. Now they must also focus on protecting and supporting the health of their people and consumers and the long term well-being of the planet. The key to purpose is turning empathy into action.


  • Innovate with an emphasis on ensuring sustainable, safe-to-use products.
  • Consider new opportunities to develop offerings directly conducive to better health.


Advance digital customer engagement

Consumers have become more digital because of COVD-19. Corporate investment in digital experiences needs to mirror customer expectations—convenience, ease and accuracy are now table stakes. Businesses must deliver end-to-end experiences to achieve the best customer engagement possible.


  • Shift from transaction-based to relationship-based interactions.
  • Design human-like digital services powered by AI, data and real-time insights.



Invest in transformative technology

Europe has watched the tidal wave of digital technology with some wariness and European companies have invested less in digital than their global competitors. But they must begin to accelerate digital transformation, and specifically, their journey to the cloud. This will make European companies more resilient and better positioned to deploy innovation rapidly.


  • Rapidly increase the pace and scope of digital transformation both at the core of their business and in their client-facing environment.
  • Ramp up the implementation of cloud and AI to achieve cost savings, business agility and faster innovation while also reducing their environmental footprint.


Reconfigure operations and processes to enable resilience

Europe’s business leaders have a major opportunity to modernise operations through technology. The digital reinvention of industry—what we call Industry X.0—will be key to this. Predictive modelling and applied intelligence will become vital tools, as will the use of digital twins to enable companies to view their operations end-to-end. It’s time to move from “point” solutions to scaled, intelligent operations. Likewise, rising consumer demand for local brands presents an opportunity for European companies to make their manufacturing and sourcing more domestic where it makes sense.


  • Reassess the cost-risk trade-offs of the increased regionalisation of production.
  • Diversify the supplier base.
  • Apply new technologies to build physical and digital resilience of core functions.



Offer the workforce new skills and new ways of working

European businesses have always enjoyed a strong social contract with workers. Now there is an opportunity to build around organisational purpose, flexible working arrangements, new people management systems, and new technologies for remote working and skill building. The adoption of new technology by the workforce will be crucial to maintain productivity, ensure growth and foster innovation. Half of European C-level leaders say new technology will accelerate the creation of a “smarter” workforce.


  • Make remote work effective for individuals, teams and the entire organisation.
  • Invest to ensure safety protocols and equipment are robust at on-site locations.
  • Increase the use of new tech, such as extended reality, to build skills remotely.


Participate in ecosystems to drive organic growth

Contractual partnerships and platform partnerships are flexible alternatives to mergers and acquisitions for European companies. Working with partners can help companies grow by accessing customers, capabilities, talent and ideas needed to unlock new markets and respond to competitive threats.


  • Use open platforms to bring together ecosystems of consumers, suppliers and business partners.
  • Build on advanced technologies to innovate within an ecosystem for new customer value.

A bold new path forward

Europe is at a crossroads. Its business leaders now have a choice. They can continue down well-trodden strategic and operational paths. Or they can explore a new way forward, one that’s based on innovation and high-potential technologies that blend with Europe’s traditional strengths of sustainability, solidarity and purpose.

As the outlines of a post-pandemic world emerge, the scale and scope of opportunity is becoming clear. It’s time for Europe to seize this opening and drive a renewed competitiveness.

As the situation unfolds, we will continuously update our materials, so please check back regularly.

Contact Us

Jean-Marc Ollagnier

​CEO, Europe

Michael Brueckner

Senior Managing Director, Growth & Strategy Lead, Europe

Sybille Berjoan

Europe Principal Director, Accenture Research

Luca Gagliardi

Thought-leadership Senior Principal, Accenture Research