Reinventing Product and Service Development and Innovation
Enterprise innovation, redefined
Just a decade ago corporate product and service innovation were typically a slow, cumbersome and protracted process that was accomplished largely by using PowerPoint presentations and sometimes traditional project management tools. While those “solutions” would typically tick off the immediate tasks at hand, much of the creativity, product research, and rejected ideas (that could potentially go into future versions) would get lost in the process.
This way of work prioritizes only what’s possible and feasible at present, from a time and budget perspective. On the other hand, using dedicated, technological product and service innovation management tools can be a game changer, helping innovation teams preserve all the work that goes into each prototype for future releases or iterations.
Solutions that can reinvent your R&D processes
To start with, IoT and connected devices can help you gather valuable data about product usage, including frequency and different use cases, helping you build better, more customer-focused product prototypes.
Customer service website and social media chatbots can collect data and sentiments about common product or service pitfalls and shortcomings, allowing you to overcome them in future releases.
AI and machine learning can help uncover unexpected, hidden trends that can shape up future product and service development, helping you stay ahead of the competition. Data collection and mining are part of a solid data strategy that digitally mature organizations will need to master going forward.
Custom AR and VR apps allow your users to play with your prototypes before you launch them as full-blown products. By using this type of technology, you can collect valuable user feedback that can not only improve features and functionality but future user adoption, too.
Technology that can advance your product development
Once you have collected and analyzed the available product and usage data and insights, it is time to put them into practice, shaping up the future generations of your product and service offerings. To manage your product or service prototypes well, it is prudent to invest in suitable tech solutions. This way, you can more easily keep track of any changes and improvements you make to features and functionality, as well as the impact of each one on the success or failure of the prototype.
Having this historic record readily available is especially important when building software solutions, where changes often end up causing technical issues and need to be backtracked in future updates. And when innovating products and services other than software, relying on dedicated innovation tools to manage the funnel can help preserve ideas, proposals, and potential features that can’t be implemented at present for various reasons. This makes launching future product or service updates and upgrades a structured process that results in zero loss of valuable prior R&D and intelligence work.
Choosing an innovation-minded development counterpart
Software development houses are not all created equal, with some following solution specifications blindly without an eye for future upgradeability, longevity, or sustainability. At Pegus, we do not believe in this style of development outsourcing. Rather, we prefer acting as your sparring partner – reviewing your goals and strategy together first, then building concrete plans and solutions to help you meet them, all the while ensuring that they are future-proof and easily upgradeable.
Building software from scratch each time you have an updated requirement is time-consuming, expensive, and unnecessary. When the research and planning phases of the development process are conducted exhaustively, we can ensure that any solutions we build today will stand the test of time and be able to meet the needs of tomorrow and beyond, with minimal adjustments.
Don’t hesitate to contact Pegus for a review of your current innovation strategy and processes and a discussion on how we can build or customize a solution to help you manage your funnel more effectively and efficiently.
Contact the Pegus team of experts for a no-obligation consultation.
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