The industry focus areas
Energy, Resources & Industrials: Exploring resilience, the energy transition and raw material sufficiency
Resilience is a big theme in the Energy, Resources & Industrials sector as the world order and business environment have completely changed. All operations must withstand disruptions, unexpected situations and transformations that are beyond our control.
Another important theme is the transformation of the entire energy sector (i.e. how energy is generated, transmitted, stored and used). Its impact goes through all industrial sectors, including both the producer and consumption sides.
The raw material base is also undergoing a significant transformation. Growth is happening in areas where raw materials are becoming scarce. The use of some previously used raw materials is no longer seen as sustainable and new alternative sources of raw materials are needed. For example, the current way of utilising cement in concrete construction is not sustainable and carbon steel production is transitioning to the direct reduction of iron using hydrogen as the reducing agent.
"I am proud that we can help companies take the necessary actions to remain competitive in the evolving business landscape."
Mika Järvensivu, Industry Leader, Energy, Resources & Industrials
Regulations and incentives accelerate the change
Large industrial companies must shift towards a more responsible future, aligning with their business goals. Both regulations and incentives are needed to accelerate the transformation. They now have a much greater impact on shaping the future business landscape.
The logic of business operations and value creation – considering raw materials, energy and the supply chain – will progressively extend beyond the limits of individual companies and industries.
Showing the way to where the world is heading
A deep understanding requires examining things from multiple angles and delving into them, which is our strength. At Deloitte, we look beyond sectors and industries, and our strength lies in our ability to integrate different sources and perspectives. We can create a space of scenarios and provide insights into where the world is likely to be heading and at what pace it is doing so.
We help in the creation of operating and value-creation models that serve all the actors and companies involved in the ecosystem. We can bring globally relevant expertise from around the world to benefit Finnish companies. As an example, Deloitte has been an active member and collaborator in the Finnish Hydrogen Cluster, building a carbon-neutral society and generating new wealth in Finnish society and globally.
Government & Public Services: We are committed to developing Finnish society
Ensuring equal essential services for citizens is the starting point for everything. As a society we must be able to provide services in a tight economic situation. Safety and crisis resilience must not be forgotten. This requires functionality and broad support for society in many different sectors.
To mention a few of the societal challenges we are currently facing, social care and healthcare are subject to enormous pressures for change. Employment and the integration of international professionals are critical issues for the Finnish economy. The security situation in Finland is harder to predict than it has been in a long time.
We need new technological solutions, but also a clear strategy and a human touch
In Finland, productivity development in the government sector requires increasingly strong digitalisation and automation of services and processes. The digital revolution and the advent of AI have already laid the groundwork for significant changes in public sector services.
This is not only a technical issue but also, to the greatest extent, a strategic issue. We must consider what services we produce and how, and how we change our organisation to respond to the future operating environment and citizens’ needs. Change must start with people – how can our systems support it?
"We can use globally relevant expertise from around the world to benefit Finnish society."
Minna Tormilainen, Industry Leader, Government & Public Services
Driving change
We help our clients succeed in renewing their core systems and
transforming their operations into customer-centric operations. We are a proud partner of Kela in their world-class transformation journey related to renewing benefit systems and operations.
Well-being service counties are currently considering how and where to provide customer-oriented and accessible services to the residents of their areas. We have helped them to define service strategies, build digital capabilities and efficient operations.
Finnish municipalities will have a new role in providing employment and integration services from 1st January 2025 onwards. Challenging transitions are our expertise, and we are ready to continue supporting municipalities in this change.
European countries invest heavily in security and defence, and we have extensive cooperation between Deloitte countries in order to support different governments.
The foundation of democracy is formed of reliable basic structures and processes. In the digital age, it also requires cyber security and data protection, which we work on extensively in the public sector.
Financial Services: Adapting to change and ensuring regulatory compliance
The financial services industry continues to experience the same trends as a year ago, driven by a wide regulatory agenda. Financial institutions play a pivotal role in shaping a future that is financially secure and environmentally responsible. They have the power to promote sustainability by making conscious decisions about their investments, financing and insurance practices.
Requirements for resilience and regulatory compliance drive operations
The financial services sector is the cornerstone of economic stability and growth. In order to remain competitive, financial institutions must not only have a clear and strong plan for how to conduct their business, they must also be able to adapt quickly to market changes. One significant factor driving such changes is the growing impact of geopolitical risks.
Maintaining regulatory compliance, resilience and sustainability is paramount for driving responsible business practices. Notably, the industry’s regulatory landscape continues to be active, with regulations such as the Digital Operational Resilience Act (DORA) coming into effect this year. Moreover, the reliable and responsible handling of data as part of the maturation of AI technologies has become a significant theme in the industry.
"Our goal is to equip our clients and the industry with cutting-edge solutions that promote financial stability and growth in a constantly changing market."
Mikko Helin, Industry Leader, Financial Services
Driving growth with a focus on technology services and international collaboration
Over the past year, we have focused on achieving sustainable growth across our client portfolio. Additionally, we have expanded our presence in addressing key business issues, such as digitalisation powered by data and compliance issues, together with our clients.
Our business has grown and is on a sustainable foundation. We have progressed and are progressing according to our business strategy, with a focus on technology-related ervices and ever closer collaboration and joint delivery with our global industry teams.
We focus on accelerating technological development that aims to ensure information security, smooth operations, improved customer experience (particularly in retail banking and insurance) and aims to help organisations utilise data responsibly for the benefit of their business and society. Through our services we support our clients in meeting regulatory requirements and developing their operations and technologies to ensure business continuity.
Private & Growth clusters: We are committed to boosting growth
Finland is striving to have a society that attracts investments and innovation by boosting respect for entrepreneurship, ownership and growth. Deloitte is strongly committed to supporting Finnish mid-sized companies on their international growth journey.
Deloitte Finland’s Private & Growth team was established few years ago to create services and a focus on the growth-client segments working in the technology, private equity, consumer, food, and real estate sectors. Through our focused work within the five selected client clusters, we continue to strengthen our brand and our clients’ trust in us.
Driving innovations in the technology sector
Our clients are the world’s leading innovators, developing and selling high-tech products and software solutions to the global market. We have had the Deloitte Technology Fast 50 programme for 18 years, a programme that focuses on the fastest-growing technology companies in Finland. We are proud to be a part of these amazing growth stories and have started publishing a Deloitte Fast Growth podcast series to raise awareness of entrepreneurship and innovation. This year we were again a proud partner of the Slush event, and we showcased a wide range of services that create value along our clients’ growth journey.
"Our mission is to boost growth by connecting the leaders of international growth businesses to our strong global network in order to share the ideas, knowledge and experience needed to grow and prosper."
Mari Vähäsöyrinki, Private & Growth Leader
Private equity playing a significant role in growth
Private equity (PE) plays a significant role in the Finnish economy. PE-owned companies typically grow their portfolio companies significantly faster in terms of turnover and headcount when compared with similarly sized peer companies in similar industries. We support our PE clients in making advised decisions in regard to allocating capital to new investments, growing their holdings and improving efficiency and transparency. Whilst doing so, they generate new jobs, reach international markets and create new large companies in Finland.
With our global network, we help our clients go global
We provide an understanding of local business environments that helps our clients make informed investment decisions; we assist in building flexible and efficient operating models that are suitable for entering new markets and running foreign businesses. We also help with various international-growth related questions that arise from evolving local and global requirements. As one firm – operating seamlessly across geographies and business areas – we can truly help Finnish businesses flourish when going global.
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