Solutions to Help High-Tech Manufacturers meet Industry Challenges and Get the Right Products to Market with Speed
In an industry where product cycles are getting shorter, and the pace of technology development is only getting faster, profitability is driven by the ability to continually and quickly develop and market the right new products and processes. Organizations across the industry talk about a similar set of challenges that can impact their innovation efforts:
- “We struggle to identify the right projects and allocate resources to the discoveries that have the most potential as marketable products.”
- “We need to adapt our innovation strategies and initiatives to the changing demand of consumers and a cyclical economic environment.”
- “Our products have increasingly shorter product lifecycles, and we need to produce a constant stream of practical, improved new products to stay competitive.”
- “We have continual and high R&D investment costs, and cost control is critical to our success and ability to keep up with competition globally.”
- “We struggle to have the visibility to effectively manage product obsolescence as technologies change.”
Sopheon’s Accolade solution helps high-tech and electronics manufacturers optimize their portfolio to ensure resources are allocated to the right mix of products, and that those with the most profit potential are being brought to market – with speed. Accolade brings standardization and visibility to managing the innovation process, including gated processes, even across cross-functional and global teams. In the face of changing consumer demand and cyclical technology improvements, Accolade can help companies manage innovation planning and build alignment between changing strategic plans and innovation initiatives.
In a recent study, top innovation performers obtained an average of 13% more profit from new products and services than average performers, indicating the important contribution of innovation performance to achieving profitability and success.1
Leading High-Tech innovation companies like Honeywell and Nuvoton rely on Sopheon’s solutions for high-tech and electronics manufacturers to help them to:
- Implement best practices that support the entire innovation and product development lifecycle aimed at speeding products to market.
- Determine the right mix of products in the portfolio to focus resources on investments with the highest differentiation and practical application to improve profitability of initiatives.
- Standardize and automate product development processes to improve cross-functional collaboration and increase transparency into key information.
- Gain visibility across the innovation lifecycle to improve decision-making capabilities and reaction time to changing markets, consumer demand and emerging technologies - and to reduce the impact of delays or changes.
- Effectively plan and manage the innovation process to meet the shrinking window of optimal product introduction.
Learn how Sopheon’s Accolade innovation performance solution can help your high-tech organization identify and get the most profitable products to market:
1 “Getting a Better Return on Your Innovation Investment”, Arthur D. Little, February 2013. https://www.adlittle.com/3921.html?&view=561