Continuing our series of webinars on innovation, Belatrix Software is delighted to be joined by Patrick Millar who will explain how he implemented novel methods to drive innovation to great success at different companies. In addition we will be joined by Franco Fiorini, Program Manager at Belatrix, who will discuss how Belatrix created an “idea market”, and how you can do the same. During this webinar we will discuss: * Why CTO’s need new options to drive innovation * How different innovation approaches are needed depending if you are an established company or a start-up * Idea Markets - what are they, and how you can create your own * Case studies and best practices for using new methods, such as hackathons

1. Case Studies Of The New Innovation
Playbook For Technology Leaders
WEBINAR

2. Speakers Patrick Millar
Co-Founder, Formatic.ly
Former CTO, Chatham Financial
Franco Fiorini
Program Manager
Belatrix Software
Charles Green
Director of Thought Leadership
Belatrix Software

3. Agenda
• Why technology leaders need new options
for innovation
• Creating a Hack Week at Chatham Financial –
overcoming challenges for success
• What is an “Idea Market”, and how to get
one going
• Q&A
QUESTIONS
#InnovationBSF

4. Shift away from
central R&D
organization
QUESTIONS
#InnovationBSF

5. New “innovation enablers”
Innovation
Techniques
Hackathons
Crowdsourcing
Innovation Labs
Incubators
Technology
Open data
Open APIs
Innovation tools
QUESTIONS
#InnovationBSF

6. New “innovation enablers”
emerge
Spur rapid prototyping and development
Significantly lower cost than centrally-funded R&D
Foster creativity by bringing together disparate
perspectives
Take advantage of increasing availability of data
QUESTIONS
#InnovationBSF

7. Case Study:
Chatham Financial
300+ person Financial Services firm
Serving clients through expert advice and
technology services
Team size:
120+ professionals in software development and quant
finance
Employees based in US and Europe, 40 with nearshore
partners
Early adopter:
Agile (Scrum) for software development
Lean for Product Management
Two great methodologies, but innovation requires a different
environment

8. On the path to Hack Weeks
Business Teams Technology and Quant Teams
Smaller team of generalists Small team of individuals, no specific
methodology
Specialized teams serving specific market sectors with deep
industry knowledge
Significant product backlogs for development
Large team, with multiple sub-teams
Adopted Agile methodology and Lean
Highly efficient use of time
Evolved to
Evolved to
Frustrations
Many great ideas but only a narrow pipe to get them through
Lack of ability to experiment / prototype
Frustrations
Well executed methodology left little time to experiment with new ideas
No slack time
Conduct regular “hackathon” style events outside the normal planning and prioritization cycle
Share ideas, prototype, experiment, have fun!
Based on new knowledge: pivot, re-prioritize, accelerate (and reduce waste)
Opportunity
QUESTIONS
#InnovationBSF

9. Innovation by Hack Week
Quarterly “Hack
Week” projects
A full week each
quarter spent on
innovative technology
Followed a “start-up
weekend” format, but
adapted to a full week
Week prior to “Hack Week”
Gathered project ideas
Teams pitched ideas, whole
team voted on best ideas
Everyone gets to state 1st /
2nd choice of team to work
on
During Hack Week
Execute on ideas. Daily
“scrum of scrums”
Presented findings back to
whole team at end of week
Whole team votes for
projects in different
categories
Cycle that emerged
Evaluate tech (Hack
Week 1) -> Apply tech
(Hack Week 2) ->
Recognize benefits

10. Challenges
Financial services companies don’t like risk
Is this wasted time? Who has to pay for this? Who benefits?
This type of program will disrupt ongoing projects
Can really mess up a Product / Project Managers plan
Response
Think of it like an insurance premium
Hack Week projects often resulted in “pivots”
The pivots always improved the project outcomes
Transitions – two disciplines to get there
Lean Product Management
Agile software development methodology
QUESTIONS
#InnovationBSF

11. Success
Bottom line benefit: Attracting and retaining great talent
• High performers contribute disproportionately to innovation (10x rule)
• Avoids high expense of recruiting fees (>20% 1st year salary)
Top line growth: Delight your clients
• Some of the greatest client praise tracked directly to hack week projects
• Even better – solicit ideas from trusted clients and have them participate
directly in the process to strengthen the partnership
90% plus of projects ended up in the main branch (production code)
Expect ongoing challenges
• There will always be a strong desire to exert control over innovation
• Avoid creating innovation backlogs for these events. Keep each one fresh.
QUESTIONS
#InnovationBSF

12. What is an Idea
Market?
QUESTIONS
#InnovationBSF

13. New
Markets/businesses
Products
Services
Verticals
Continuous
Improvement
Better processes
Suggestion box
Client Engagement
Partnerships
Better service
through
collaboration
Motivation
Increase sense of
belonging
Some benefits
QUESTIONS
#InnovationBSF

14. How to get an Idea Market working?
Open for everyone
Get good
ambassadors
People’s
contribution is the
key
Gamification
Keep moving , make
ideas happen!

15. Belatrix Innovation!
Different campaigns to approach several niches.
Gamification.
Employees’ contribution – selection.
Next steps: Recognition and Hackathons.
QUESTIONS
#InnovationBSF

16. Innovation via Hackathon
Hackatrix Mendoza
2013
Hackatrix Lima
2014
Hackatrix Lima
2015
Hackatrix Buenos Aires
Coming soon
QUESTIONS
#InnovationBSF

17. Q&A
QUESTIONS
#InnovationBSF

18. Contact us! Patrick Millar
patrick@formatic.ly
Franco Fiorini
ffiorini@belatrixsf.com
Charles Green
cgreen@belatrixsf.com