March 29, 2014 (Sat): Oracle Corporation, the world’s leading ICT solutions provider, today unveils its Oracle Innovation Management solution to help organizations increase their return on innovation investments.
The new release is a systematic approach to capture, select and invest in the right product ideas and to manage the organization’s overall product portfolio.
Jon Chorley, Vice President, Supply Chain Management Product Strategy, Oracle says, “Product innovation is too critical to be left to spreadsheets and PowerPoints, and to remain disconnected from the rest of the product value chain”.
Oracle Innovation Management allows bottom-up innovation so all stakeholders may participate in the product invention and definition processes, with simultaneous top-down financial impact analysis and strategic fit visibility to the key portfolio owners during and post investment decision.
With Oracle Innovation Management, organizations can make more informed decisions by easily creating, refining and evaluating product concepts for cost, risk and against customer requirements and design goals.
In summary, Oracle Innovation Management enables organizations to build an innovation pipeline that is fueled by a steady stream of high-value ideas that can be translated into profitable offerings; analyze the impact of alternate investment scenarios against business objectives; develop product requirements that translate ideas into concepts and products; increase productivity and reduce product development costs.
He ends, “By providing a highly usable, but systematic approach to managing product innovation, Oracle Innovation Management can accelerate the transformation of the best ideas into profitable products, and deliver against the corporate product innovation strategy.”