Planbox's CEO, Ludwig Melik discusses the Importance of Innovation during this Massive Digital Transformation
Creating a System of Record for Innovation
Reality of the Age of Innovation
The Age of Innovation is slated to bring more innovations in the next decade than the last 100 years. In the process potentially 40% of today’s Fortune 500 companies may totally disappear. This incredible pressure to innovate as the world goes through massive digital transformation is having a profound impact on how companies operate. Information is the new oil as long as organizations figure out how to tap into it and draw the right insights. Innovation has to be a collaborative effort by everyone in the organization and also involve external voices including customers, suppliers, researchers, universities and the startup community. Thus far, a sustainable culture of innovation has proven to be an elusive goal for most companies.
Creating a System of Record
Planbox helps organizations realize this objective by creating a system of record for innovation and developing innovation management as a core competency. Planbox offers a unique patented AI technology to auto-discover actionable information and run activities such as innovation jams, challenge-driven events, online Shark Tank internal business competitions, and decision sessions thus providing exceptional business value to global clients such as Bridgestone, Honeywell, Philips, Sun Life Financial, Whirlpool and Verizon seeking to innovate consistently and experiment cost effectively.
ISO 50501 for Innovation Management
There is a groundswell of interest in innovation and now ISO is taking on this challenge by launching a new standard titled ISO 50501. The new ISO should help guide organizations track, manage, measure and learn from their innovation investments. Planbox software solution will help organizations operationalize and systemize innovation to comply easily with this new standard.
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