KPMG’s survey reveals how collaboration is central to success

Exago has partnered with KPMG in Portugal to promote the first global ‘Innovation Survey’ to companies operating in the country. Survey findings show how companies that systematically pursue collaboration opportunities have a significantly higher rate of commercially successful product launches and nearly twice as much revenue growth.

Three hundred participants at the European level took part in the survey, 39 of which were from Portugal. Overall, KPMG’s analysis concluded that good innovators in organisations with a budget allocated to innovation strategy and an idea management solution in place also have the largest share of revenue coming from successful new products launched in the last three years.

The data reveals as well that investing in product development and enhancement impacts positively on revenue growth. Yet it’s interesting to see how companies that focus on innovation to find new sales channels and on customer experience and satisfaction improvement have benefited from even higher revenue growth rates in the last three years (> 5%).

However, where innovation is concerned, the journey for companies is still a long one. There is a lack of well-structured innovation management processes to stimulate it and a lack of experience, as the battle to recruit talented innovators is growing.

The survey includes an in-depth analysis and insights from KPMG’s global experts and Exago’s CEO on subjects such as:

  • How is idea management structured?
  • Why is collaboration needed?
  • Where do companies focus their efforts, how do they finance innovation and what are the companies’ challenges?
  • How are corporates responding to the drivers of innovation and positioning their strategies?
  • What separates good from bad innovators?

You can check out Portugal’s results here. A short summary is also available below in English.

 


KPMG INNOVATION SURVEY 2016 – EXECUTIVE SUMMARY

‘1. Collaboration is crucial to success
Companies that systemically search for collaboration opportunities secure a higher success rate for their products and almost double the increase in income.

2. The building of broader innovation skills demands a more complex transformation process
In spite of evidence that supports the focus on collaboration efforts, only a few companies enjoy effective collaboration, as it requires a complex transformation process at both a cultural and an operational level.

3. Business model innovation offers significant opportunities in a world dominated by innovative products
The main focus in all industries is product development and improved process development. However, the creation of new selling channels, alternative income models and the discovery of new or present needs might have the same level of impact as the innovation of the company’s main functions and the product itself.

4. The war for talented professionals is ongoing
Most of the time, the main challenge that companies face in terms of innovation is related to lack of people with the required competences and the necessary experience.

5. Fine innovators have an implemented innovation policy
Companies that have implemented process management and innovative governance models enjoy a high rate of success with their products and a significant share of their income comes from products launched in the past three years. However, only 16% of companies use this approach in the management of their innovation programmes.

6. In spite of the importance of commercial deadlines, the inability to meet deadlines is where most projects fail
Meeting deadlines in the project’s chronogram is the main challenge of ongoing projects, with about 30% of projects falling behind schedule. The speed of commercialisation is particularly important as it can generate a competitive advantage.

7. Collaboration is anchored to your comfort zone
Research and Development (R&D) collaborations are particularly important, even if companies often find themselves limited to only business partners. Collaboration with universities, start-ups and incubators is much less common. Different kinds of collaboration partners have different strong points and contribute with different skills and resources. For that reason, diversifying collaboration partners offers more opportunities than maintaining a single collaboration with only one type of partner’.

All roads lead to the Lisbon Web Summit

Almost 45 thousand tech enthusiasts, from over 150 countries, are attending the Lisbon Web Summit, taking place in Lisbon, from 7 to 10 November. Exago’s team is also here, to learn about the latest trends and share insights with leaders and managers from all the major industries touched by technological innovation.

Among the speakers are John Chambers, executive chairman of Cisco Systems; Linda Boff, General Electric’s chief marketing officer; and actor Joseph Gordon-Levitt, founder of HitRECord.

Having started in 2010 with just 400 participants, the Web Summit is now one of the most important technology conferences in the world. In the 2016 edition, the summit left Dublin and now reaches new dimensions with 21 independent conferences, each with its own stage in the Feira Internacional de Lisboa.

Know more on the summit here.

Exago’s team puts creativity at play at Productized Conference

From 19 to 21 October, our services team is joining managers, designers and product leaders from around the world at Productized Conference, taking place at Lisbon Congress Centre. In three days of ‘insightful workshops and inspiring talks’, participants are working and discovering together what it means to create and manage cutting-edge products. David Fradin, former project management at Apple and HP, and Bruce Nussbaum, one of the world’s top Design Thinking advocates, are among the invited speakers.

‘Service Design Crash Course’, ‘Accelerating UX’, ‘Building insanely great products’ and ‘VCW – Value Creation Wheel®: Be the owner of the best solution’ are some of the workshops Exago’s team is taking part in. ‘We are here to shake up and challenge our creativity and get fully equipped to improve our services and product offer’, says Francisco Bernardes, Exago’s head of Innovation Services.

Know more on the conference here.

Exago at INDEG’s Executive MBA

Why is collaborative innovation imperative for companies today? Exago’s CEO, Diana Neves de Carvalho, met with students from the INDEG-ISCTE Executive Master of Business Administration (EMBA) programme, in Lisbon, to debate innovation management’s main challenges and opportunities for businesses. Diana also shared insights into how to ensure success in implementing idea management software, based on customer examples.

‘Incremental collaborative innovation is a cornerstone of any resilient innovation programme, offering many possible focus applications: from process, product and service improvement to customer experience enhancement, cost optimisation and digitisation of core business,’ Exago’s CEO told the audience. She also explained how idea management software can be a powerful lever in this process ‘if well-tuned to a company’s innovation maturity level’, and by incorporating the wisdom of crowds and a predictive market mechanism.

Diana was invited to present real case studies, share insights and discuss the potential of innovation management solutions for companies. Isabel Caetano, who teaches innovation management classes in the EMBA, further underlined how ‘innovation management is a crucial competence to improve our students’ ability to nurture an innovative organisation, as well as to enable a more global career’.

Now in its thirteenth edition, the INDEG-ISCTE EMBA gives its graduates the skills to reach leadership positions and leverage their organisations through value creation and business development. INDEG-ISCTE was the first business school in Portugal, and it is a leader in executive education, with several MBA programmes well positioned in global rankings.

In 2015, INDEG-ISCTE also launched its Executive Master in Innovation Management, in partnership with CTT, R&D Nester, Siemens and VORTAL – this year joined by Nokia. The programme is designed for innovators, professionals and entrepreneurs seeking to develop a more structured approach to driving innovation towards value creation.

We’re in the top 5% of firms ranked by Happiness Works!

Exago’s one of the top 5% happiest organisations to work in, ranking eleventh in the Happiness Works – Happy Company 2016 initiative, among 209 surveyed participants. Now in its fifth edition, every year, Happiness Works assesses the overall well-being and happiness levels of thousands of workers in firms operating in Portugal.

With high levels of satisfaction among its workers, Exago ranked particularly high in innovation and sustainability indicators. These include a very positive work environment, personal life-work balance, trust and collaboration, stability and safety, individual contributions to the company’s path, leadership and management support and autonomy, proactivity and entrepreneurship.

The Happiness Works – Happy Company initiative was developed by the global executive search firm Horton International and Georg Dutschke, a professor and researcher at the Universidade Autónoma de Lisboa, in partnership with Portugal’s reference business magazine, Exame.

Our upcoming summer team activity will give us the perfect opportunity to celebrate this latest achievement together!