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The KPMG Difference Magazine April 2016 How to win in the era of digitalization? Fintech: A digital revolution underfoot Auto connectivity and digitalization Adoption of standards: an added value for your organization? KPMG Belgium kpmg.com/be The KPMG difference 1 Table of contents Time to catch up! 4 The European digital economy decreased by 16%, while the global digital economy grew by 40%. An interview with Dominique Leroy Fintech - A digital revolution underfoot: 8 opportunity or threat? Auto connectivity and digitalization now #1 key 10 trend through to 2025 Adoption of standards: an added value for your 12 organization? KPMG in Belgium continues to support 15 Golf until 2018 2 The KPMG difference The KPMG difference 3 Digital economy applications. In terms of internet We do not have an internal connection speeds, it’s actually ‘advertising model.’ Our primary one of the top three. The main focus is on generating revenue by competition or threat doesn’t providing content. You should also come in the first place from the keep in mind that, due to privacy other Belgian operators but rather regulations, the advertising model Time to catch up! from the big American players. is strictly regulated in Belgium. For example, let’s consider mobile In fact, the Belgian government telephony. Young people don’t should make this possible to The European digital economy decreased by 16%, phone as much but are now just ensure a level playing field for while the global digital economy grew by 40%. as likely to use Facebook, Twitter, all the players. But that is not or Google. The business model happening or in any case it’s An interview with Dominique Leroy of these major players, which is happening much too slowly. based on advertising revenue, is This results in a competitive also very solid. disadvantage. Perhaps we should encourage - Isn’t it more logical to point Proximus has gone through a big metamorphosis in the past the use of mobile telephone the finger at Europe in this services even more or try to regard? few years. An ambitious investment plan focusing on innovation make these services more - Dominique Leroy: That’s a good relevant? Proximus could point. What is Europe doing? has been prepared and signed by Dominique Leroy. For her also opt for a similar model First everything is regulated and impressive achievements, she was recently awarded the title of by generating advertising then, if something is forgotten, revenues. regulations are also created for Trends Manager of the Year 2015 in Wallonia. However, on the - Dominique Leroy: That is a lot less that as well. The situation in the 27th floor of the Proximus Tower, the always modest CEO puts self-evident than you might think. US is very different. In principle, her contribution into perspective. “Our most important task is to ensure that our customers are satisfied and happy.” - Can we still call Proximus a group. The range of services regardless of whether it involves telecom company at present? that we can provide can be very a Facebook application, Google, - Dominique Leroy: Yes. broad. For some, it’s all about Twitter or fast digital connections Telecommunications is still the cloud, for others the focus in industrial zones. All these our core activity. The business is on the new way of working, screens must be continually of Proximus is to provide keeping data costs under control, supplied with bandwidth at ‘connectivity’. That is the security, access control, or other very high speeds. That is the reason for our existence. All our applications. The world around us challenge. And that requires investments also point in that has changed: we now live in an investments. direction. Accordingly, we do age in which the Internet of Things everything we can to strengthen is important. our network, regardless of - What does this mean Europe is whether it involves Wi-Fi, data specifically for Proximus management, telephone services, as a provider of internet or something else. After all, at limping connectivity? the end of the day, consumers, - Dominique Leroy: In our as well as businesses, must at the rear rapidly changing digital world, be able to benefit from our data usage is also increasing drive to guarantee and improve exponential. That is true for the - What are the biggest threats connectivity. Both groups are market for private individuals as and opportunities faced by a entitled to high expectations in well as the commercial sector. I company such as Proximus? that regard. It’s our job to deliver always say that we have to make - Dominique Leroy: I think added value, although customer sure that our clients’ computer Belgium is one of the leaders in expectations can of course screens ‘come to life.’ This is true Europe when it comes to internet differ, depending on the target 4 The KPMG difference The KPMG difference 5 Digital economy everything is permitted there. Secondly, no sector is safe say that we also need to remain Regulations are implemented only from disruption. Just look at the open to new creative ideas from The world in case of excesses. As a result, emergence of companies such elsewhere. there is a much more vibrant as Uber or Netflix from nowhere. belongs to business environment in the US Thirdly, the world belongs to - How difficult is it for manage- and many more innovations are those who believe in innovation. ment to chart an independent those who developed there. So no one should The drive towards innovation path in relation to your biggest be surprised that Europe is limping is unstoppable. Companies shareholder, namely the Belgian behind. can therefore never position government? believe in themselves flexible enough. They - Dominique Leroy: A shareholder - Can you support that with is satisfied if the customer innovation. numbers? should ask themselves what can happen in the market and how is satisfied. It’s our job, as - Dominique Leroy: No problem management, to keep the (sits up and reaches for an can we anticipate this as best The drive as possible. The need to make customers happy every day. That’s international comparative study). the best way to remain financially Since 2007, the total global digital policy frameworks more efficient, towards including data management, healthy and keep the shareholder economy has grown by 40%, on your side. In the final analysis, from US$2.9 billion to over US$4. also needs to be considered in innovation is that regard. It is in this area that the government wants nothing In the US, that figure was even more than to create sustainable higher, namely 56%. The same Proximus can be of great service unstoppable. to businesses. added value for the Belgian was true for Asia with 57%. So economy. That’s also why our how did Europe do? Europe saw - What do you think of the investment proposition was given Companies a decrease of 16%. That says Dominique Leroy proposition in the book by Leo a favorable reception. However, it all. Europe is missing out on Neels, Jo Caudron, Dirk Wauters the Belgian government should of can therefore enormous opportunities and is and Geert Wellens, Vlaanderen more efficient, and also smarter content. In general, you could say course also never lose sight of its therefore seeing a slowdown in Inc (Flanders Inc.), about the (via data mining) in many areas. that the big American companies role as regulator. In that respect, never position economic growth. need for cross-media and cross- In short: help them become more aren’t really in tune with the its first responsibility is to ensure platform cooperation between competitive. European market; as a matter that there is enough competition But let’s not get overly the Belgian media, distributors, themselves of fact, they don’t even really in the market. If it’s a level playing pessimistic, because that’s not and producers to enable them understand this market. field for everyone concerned, then my style. I think the tide is turning to compete with the foreign, flexible The government has now Proximus can operate like any for the better in Belgium, and that Act locally, i.e. American, giants such as approved legislation that will make private company, although it has a the digital economy is gradually Google, Facebook or Netflix? enough. They it possible to sell shares in the special relationship with the state. starting to recover. Proximus think By doing so, they could also future. In our role as management aims to play a prominent role in keep the advertising revenues - Finally: Not long ago, Proximus of Proximus, we do not get should ask this regard. Rather than paying a in their own country and be got caught up in a major globally. involved in government policy with dividend, we decided to further able to continue producing security breach scandal. What themselves strengthen our focus on making regard to its shareholding, but we - In view of the global context, and distributing the resources lessons have you learned from investments in the future. Instead are in favor of a strong and stable Proximus, which is now largely needed for top-tier productions. that? of the previously planned 750 dominant shareholder. what can controlled by the Belgian - Dominique Leroy: As I see it, - Dominique Leroy: In June million Euros, we’re investing government, would be an ideal it’s not a question of this or that, 2013, our security officers 900 million Euros annually. After happen in the acquisition target for major but rather this and that. It seems discovered that we had been all, we really do believe in the Good advice foreign companies with an logical to me that content must hacked.

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