Induct sales pitch


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End to end Open Innovation Management Solution.

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Induct sales pitch

  1. 1. Induct – Sales Pitch – Differentiation Varadarajan Krishna
  2. 2. Why Innovate?Since the rate of change in the business landscape is continuouslyincreasing, the importance of adapting to swiftly evolving customerneeds confirms that innovation is a survival imperative(Leader or Laggard – Cap Gemini Consulting survey, May 2009)Social networking has redefining how we relate with family, friends and colleagues …… it is well established that innovation is not done in isolation! We believe that in the future organizations ability to innovate will be more and more dependent on their ability to take advantage of collaborative innovation! The Open Innovation Company TM
  3. 3. What are we selling? 1. Increased Innovation Capacity 2. Increased Innovation Ability 3. Reduced Cost of Innovation 4. Reduced Risk of Innovation  Increased Return on Innovation The Open Innovation Company TM
  4. 4. What is the Value Proposition? The Induct SaaS Corporate Innovation Community Suite will ensure: 1.Structured and efficient end-to-end innovation management process 2.Enhanced collaboration between stakeholders (employees, customers, suppliers, partners etc.) 3.Ability to perform portfolio management for balanced innovation efforts and measure innovation performance towards success criteria 4.Federate relevant and targeted knowledge and information from stakeholders to innovation activities The Open Innovation Company TM
  5. 5. 1. Innovation ProcessThe most successful innovators have well definedprocesses for promoting and managing their innovationefforts• Over sixty percent of the most successful innovators have well defined processes for innovation, while less than one-quarter of the least successful innovators do• Over seventy-five percent of innovation leaders have clear ways to define and prioritize ideas• Half of the most successful innovators have a clear approach for evaluating the success of their efforts; only seventeen percent of the least successful innovators say the same thing The Open Innovation Company TM
  6. 6. 2. Enhanced collaborationInnovation leaders engage employees throughout theorganization, develop a culture of innovation, being open topartnerships and have a clear executive commitment toinnovation• One hundred percent of innovation leaders agree that they have a high degree of executive commitment to innovation; fewer than half of the innovation laggards do• Over two thirds of the most successful innovators engage their employees at all levels in their innovation efforts, while less than a quarter of the least successful innovators do so• Thirty-seven percent of all respondents say that they “maintain ongoing customer conversations to support multiple elements of our innovation processes”• However, among the least successful innovators, only twenty- nine percent say that they maintain ongoing customer conversation and almost one in five do not engage their customers at all The Open Innovation Company TM
  7. 7. 3. Portfolio ManagementEffective portfolio management and the ability to prioritizeprojects is a key characteristic of successful innovation•More than three-quarters of innovation leaders have a definedapproach to prioritizing and driving innovation. By contrast, justabout a quarter of the least successful innovators do.•Portfolio management activities build further discipline into theprocess. They also provide a mechanism by which companies candecide whether to “fail fast” or continue with development, andprovides guidelines against which to measure smart failures. Italso ensures that the firm’s innovation efforts are aligned withbroader corporate objectives and in line with the firm’s strategicgoals The Open Innovation Company TM
  8. 8. 4. Automated Content FederationAn inability to find the right people also limits firms’abilities to innovate successfully•About a quarter of all respondents indicated that they lack thenecessary skills in-house to support their innovation efforts. Further,once projects are kicked off, nearly half of all survey participantsindicated that difficulty in finding the right people to drive the effortposes the greatest challenge to delivering successful innovationAlthough most ideation and development takes place in-house, innovation leaders are more likely to engage externalpartners and make use of external information / knowledge•Innovation leaders take advantage of external sources of innovationmore than other firms•Innovation is more likely to emerge when firms reach beyond theircorporate and industry boundaries, take advantage of intersectionsacross different fields, cultures, people and industries The Open Innovation Company TM
  9. 9. Why Induct? Induct has studied innovation practice in more than 250 organizations Induct participate in 3 major research projects to drive the future of innovation – more than USD 40 mill in project budgets Induct are working closely with Professor Henry Chesbrough (heading the academic advisory board) Induct establish long term client partnerships – no “hit and run” idea campaigns, but long term sustainable innovation capacity Induct is the only company in this market, which: – combining innovation management practice with search/federation technology – connecting innovation communities, and building innovation zones across organizations – building the world’s largest database of collaborative innovation intelligence The Open Innovation Company TM
  10. 10. The People Principles of Innovation Creating a Culture of Innovation Most companies struggle with engaging employees at all levels in the innovation process Broader engagement with employees at all levels is positively correlated with successful innovation Collaboration across functions remains a challenge but is closely correlated with successful innovation The Open Innovation Company TM
  11. 11. Reference CasesSeveral customers are already utilizing the Induct SaaSInnovation Suite: “We have an e-mail address Customer satisfaction is very high. A survey for our customer where employees Software Innovation scores 79/100 that Induct software and can submit their processes are helpful tools for core business and 80/100 that ideas, however, I Software Innovation should continue utilizing it don’t think anyone The customers have found a new break-through concept knows about it” through the Induct Solution, e.g. Kavli2) The customers have increased idea generation, e.g. CIMIT - Large Financial that has received twice the number of ideas compared to Institution before utilizing the Induct Innovation Suite The Open Innovation Company TM