Targeted Innovation to Maximise Performance
Innovation provides an unrivalled tool for developing a competitive edge over the rest of the market. However, a balance between innovation and conservation, where returns on existing innovations are maximised, is required. Organisations can overstretch on new initiatives without realising potential value from existing ones without this balance.
The organisational transparency afforded by Business Process Management enables a targeted approach to innovation. Using a strategy-driven process prioritisation, innovation initiatives can be designed around specific, critical processes or functions. This provides a competitive edge in the areas that have the maximum impact for attracting and retaining clients.