Innovation-Concept to Cash

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Innovate on Purpose™
A systematic approach to sustainable, repeatable innovation using the Concept to Cash™ business process

Jeffrey Phillips and Dean Hering NetCentrics Corporation August 10, 2005

© 2005 NetCentrics Corporation

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Table of Contents Executive Summary.................................................................................................................................. 3 What stands in the way of innovation?..................................................................................................... 4 Comparable business initiatives and lessons learned ............................................................................... 7 The Concept to Cash business process ..................................................................................................... 8 Software to support innovation............................................................................................................... 11 How to get started................................................................................................................................... 13 Conclusions............................................................................................................................................. 16

© 2005 NetCentrics Corporation

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Executive Summary
As globalization and outsourcing intensify pressure on firms to increase revenues and profits, many executives view innovation as one of the last, best opportunities for sustained organic growth. For the purposes of this paper, we define innovation as putting valuable ideas into action as new products, services or business models. Recent surveys indicate that CEOs identify innovation as one of the three key initiatives in the coming years. The increasing emphasis on innovation as a business focus is indicated by the growing number of books and seminars dedicated to innovation. Clayton Christensen alone has written three exceptionally well-received books on innovation – The Innovator’s Dilemma, The Innovator’s Solution and Seeing What’s Next. The challenge many businesses face is not a lack of ideas. Innovation is constrained in many businesses because it is contradictory to corporate culture, compensation and existing business processes. Firms are traditionally more focused on the “sure thing” and driving out risk and cost. Innovation requires taking more risk, but sustainable innovation also requires defined, repeatable business processes and tools to become part of the everyday business workings in a firm. Companies seeking to become more innovative face the challenges of changing corporate culture, implementing new business processes and finding new applications to support the business process. Improving innovation by building a repeatable, sustainable innovation business process – what we call the “Concept to Cash™” business process - will vastly improve the consistency and predictability of innovation in our businesses, leading to new revenue growth opportunities and greater profitability and competitiveness. These concepts, processes and tools will help your company move from accidental or occasional innovation to a state we call Innovate on Purpose™. These challenges are by no means atypical. Many businesses have been through similar change in the past, in efforts to improve quality and in sales force automation to provide two examples. Enhanced business processes and new software applications were instrumental in the success of both of these initiatives. Through the Concept to Cash business process and the software applications which enable and support this business process, any firm can treat innovation as a repeatable, sustainable business process and gain new differentiation and competitive advantage through new products and services.

© 2005 NetCentrics Corporation

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What stands in the way of innovation?
With the advent of free trade and globalization, many avenues of competitive...
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