Presented by: Michel Delifer, Regional Sales Director, Sopheon
Many companies have invested heavily in business processes and tools to support different aspects of the innovation process and new product development; including the design, supply, manufacture, and sale of new products. However, when it comes to those elements that are arguably most important – innovation strategy, ideation, and cross-functional execution, many companies have little or no process.
Defining and maintaining business processes to ensure sustainable market differentiation is one of the most difficult challenges in any business. There are many reasons companies struggle to achieve sustainable market differentiation, but our experience and research shows that these fall into a few common categories.
Some companies continually place “bad bets” on losing products – in fact, across industries, 40% of resources are wasted on unsuccessful products. Another common challenge is the lack of alignment between strategy and execution and some companies—as many as 79% —simply suffer from a lack of high-value ideas. Lastly, many simply struggle with the cross-functional execution of their innovation processes.
Topics to be covered during this session include:
- How to implement effective innovation management processes to dramatically increase the success rate of new products.
- How to improve throughput efficiency, enabling 15-30 % more products to be brought to market for the same investment.
- How to easily access a single source of truth from a fully-integrated solution across the entire innovation management and new product