By Team SOLVEDIO │ Updated November 26, 2024
Client
Leading European Food and Beverage Manufacturer
Executive summary
A leading food and beverage manufacturer in Central and Eastern Europe partnered with Solvedio to tackle challenges in managing innovation across a diverse product portfolio and international operations. The company lacked a unified platform for innovation management, leading to inefficiencies in idea evaluation, collaboration, and project visibility.
Solvedio implemented a customized Innovation Management system, providing a centralized digital workspace, multi-language support, and advanced analytics. As a result, the manufacturer experienced a 25% acceleration in innovation processes, a 30% improvement in cross-border collaboration, and a 20% reduction in time-to-market for new products, strengthening its competitive position.
About
This prominent food and beverage company, established in 1990, has grown into one of Central and Eastern Europe’s largest manufacturers. It produces juices, soft drinks, pasta, instant products, and canned foods, with a portfolio of over 30 brands. The company employs approximately 9,500 people, and its products are available in more than 50 countries worldwide. Known for its innovative approach, the company continuously expands its portfolio to maintain its market leadership.
The Problem
Despite its strong market position and dedication to innovation, the company encountered challenges managing innovation across its broad product portfolio and international markets. A lack of a unified platform for managing innovation, contacts, and knowledge led to inefficiencies in capturing, evaluating, and executing new ideas. Sharing relevant information across different brands and regions was difficult, limiting visibility into ongoing innovation projects. The company needed an efficient solution to streamline innovation processes, enhance collaboration, and maintain its competitive edge.
The Key Collaboration Milestones
Our solution
Solvedio implemented a custom-built Innovation Management system, providing a unified digital workspace for managing innovations across 18+ divisions and 70 countries. The solution featured a central repository for innovation-related information, a user-friendly interface with multi-language support in 10+ languages, and advanced analytics for better decision-making.
As a result, the company experienced a 25% acceleration in innovation processes, enhanced cross-border collaboration by 30%, improved knowledge sharing by 35%, and a stronger overall innovation culture. The streamlined process also reduced the time from concept to market launch by 20%, enhancing the company’s ability to compete effectively.
This digitalization led to:
+ 25%
acceleration in innovation processes
+ 30%
enhancement in cross-border collaboration
+ 20%
reduction in time-to-market
The solution was built around ten key functional elements:
1. Cascading Functions
- Dynamic management and adaptation of company-wide innovation goals.
- Effective cascading of objectives across all organizational levels ensures alignment from top-level strategy to individual teams.
2. Executive Management Dashboard
- An intuitive, color-coded dashboard that provides a quick, real-time overview of performance across various innovation projects.
- Immediate identification of deviations from targets using the 3-5-8 rule, enabling prompt corrective actions.
3. Department View
- A detailed view of innovation goals and KPIs assigned to each department, offering transparency into how each contributes to the overall company objectives
- Visibility into related innovation projects and tasks, facilitating better coordination across departments.
- Analysis of departmental activities to assess their impact on the company’s innovation strategy.
4. Goal Detail
- In-depth information on specific innovation goals includes tracking planned vs. achieved results, tolerances, and monitoring periods.
- Clear assignment of responsibilities and deadlines, ensuring accountability and timely execution of innovation initiatives.
5. Project Management
- Flexible project structures supporting a wide range of innovation initiatives, from simple product enhancements to complex, cross-border projects.
- Seamless integration with predefined data sources to maintain accuracy and data consistency across the organization.
6. Task Management
- A centralized "My Tasks View" for efficient work organization, enabling employees to manage their tasks within the broader innovation framework.
- Easy creation, editing, and prioritization of tasks, streamlining workflows and enhancing productivity.
7. Reporting
- Customizable reporting functions that allow for tailored analyses of innovation performance and progress.
- Integration with Microsoft PowerBI for advanced data analytics, providing deeper insights into innovation trends.
"Implementing Solvedio's Innovation Management system has been transformative for our company. We’ve seen a marked improvement in managing and executing innovation projects across our diverse product lines and markets. The ability to collaborate seamlessly across borders and access relevant information quickly has truly elevated our innovation efforts."