Abderdeen Study Finds Invention Machine Customers Achieve High Revenue Growth
Through Product Innovation
Best-in-Class Companies Implement Repeatable Innovation Processes
To Stay Ahead of Competition
Boston, Jan. 9, 2008 — Aberdeen Group’s recent report, “Product Innovation Agenda 2010: Profiting from Innovation Today and Tomorrow”, found that more than 80 percent of companies are focused on driving profitable growth through product innovation, while many participating companies are looking to make innovation a predictable process. Invention Machine customers surveyed for the benchmark reported greater revenue and top line growth from their product innovation investments than the industry average. Data from the report also showed that Invention Machine customers are more aggressive about improving product innovation through 2010.
“The benchmark demonstrates that Best-in-Class companies will continue to focus on innovation as a revenue driver and that they are 36 percent more likely to execute a predictable and repeatable innovation process than average companies,” said Jim Brown, vice president, Product Innovation & Engineering Research, Aberdeen Group. “Companies like Invention Machine aim to help manufacturers implement a repeatable and sustainable innovation process, enabling them to hit higher revenue targets, similar to Best-in-Class companies.”
The “Product Innovation Agenda 2010” report analyzed how companies are driving profitable growth by introducing new innovation, product development and engineering techniques and technologies. The survey also found that Best-in-Class companies are more likely than average companies to have an executive dedicated to managing product innovation. In addition, 70 percent of all respondents will have a Product Lifecycle Management (PLM) implementation in place within the next two years, making it a common practice and basic requirement to compete in product-centric markets.
Innovation software provider, Invention Machine is a key player in the PLM industry. Many of its customers use Invention Machine Goldfire Innovator to generate and validate product ideas at the front end of the product lifecycle. This enables engineers and scientists to put the right designs into the PLM process, thereby eliminating risks associated with product innovation.
“The survey results underscore what we have been hearing from our customers – as market leaders, they must deliver leading-edge products consistently and drive top line growth,” said Mark E. Atkins, CEO and chairman, Invention Machine. “With mounting global competition in today’s changing economy, it is critical that companies adopt the right technology and infrastructure to help sustain innovation and increase revenue growth.”
To download a complimentary copy of the report, please visit invention-machine.com or http://www.aberdeen.com/link/sponsor.asp?spid=30411017&cid=4170.
About Invention Machine
A leading provider of innovation software, Invention Machine drives sustainable innovation by enabling global organizations to consistently generate breakthrough ideas that accelerate product development. Invention Machine Goldfire empowers engineers and scientists to conceive and validate right ideas the first time, so they can quickly and easily deliver market leading products. Global 2000 manufacturers in more than 25 countries rely on Invention Machine for product innovation, process improvement and market expansion. Its unique software fuels sustainable innovation across numerous industries, including aerospace and defense, automotive, consumer technology, energy and environment and life sciences. For additional information, please visit invention-machine.com.
About Aberdeen Group, a Harte-Hanks Company
Aberdeen is a leading provider of fact-based research and market intelligence that delivers demonstrable results. Having benchmarked more than 30,000 companies in the past two years, Aberdeen is uniquely positioned to educate users to action: driving market awareness, creating demand, enabling sales, and delivering meaningful return-on-investment analysis. As the trusted advisor to the global technology markets, corporations turn to AberdeenTM for insights that drive decisions. For additional information, visit Aberdeen http://www.aberdeen.com or call (617) 723-7890, or to learn more about Harte-Hanks, call (800) 456-9748 or go to http://www.harte-hanks.com.
617-305-9250 ext. 3305
Lois Paul & Partners