Sopheon Bridges Gaps Between Digital and Physical Product Development with Launch of Accolade for Smart Products
14 April 2021 - 4:00PM
Business Wire
Industry’s First Innovation Solution Creates
Comprehensive Process That Streamlines Costs, Enforces Governance
Procedures and Accelerates Time-to-Market
Sopheon today announced Accolade® for Smart Products, the first
and only innovation management solution to bring together
traditionally siloed software and physical product development. By
coordinating the many different priorities, methodologies, work
habits and technologies involved in creating smart products, this
new SaaS-based solution enables companies to develop innovative,
high-quality and regulatory-compliant digitally enabled
products.
Businesses are rushing to build smart, connected products. The
recent IDC Quarterly Smart Home Device Tracker (March 2021)
forecast worldwide shipments of smart home devices alone will
surpass 1.4 billion units in 2025 with a five-year compound annual
growth rate (CAGR) of 12.2%. Beyond home devices, digital
applications are becoming common in most industries, from
automotive to retail to manufacturing. But conquering the complex
process of developing smart, connected products is a significant
challenge for most companies.
Developing, manufacturing and managing intelligent devices
involves coordinating a large number of departments and
disciplines. Accolade for Smart Products is the first innovation
management solution to untangle the network of complexity and
ensure that all efforts are aligned and coordinated. Adhering to a
top-line strategy while preserving the best practices of all
participants helps companies get products and services into the
market faster, enforce consistent governance procedures and
streamline costs.
“Companies are racing to write software and release products
quickly to digitally transform, break into new markets, and beat
competitors to deliver the next great customer experience,” said
Paul Heller, chief technology officer of Sopheon. “But as the
digital and physical worlds collide, many companies struggle to
find the best ways to manage innovation across different
disciplines. Accolade for Smart Products enables companies – from
traditional manufacturers to new technology stars – to accelerate
product delivery, while also implementing the best practices needed
for product reliability without dragging down innovation.”
Accolade is Sopheon’s award-winning innovation management
platform that connects people, systems and information across
departments and functions. This cross-functional collaboration and
synchronization results in trusted, timely data for faster, better
and more dynamic decision making. Accolade has proven its value to
thousands of global users, such as Honeywell, Merck KGaA, P&G,
Philips, BASF, Parker Hannifin and other innovation and market
leaders across a wide variety of industries.
“Delivering successful smart products is an imperative for our
market and for us,” said Dr. Alper Soysal, global process owner of
product management at Arçelik A.Ş one of the world’s leading global
manufacturers of domestic appliances including notable brands like
Beko and Grundig. “It is critical that we have a single innovation
management solution that provides governance, coordination and
transparency of our entire new product development effort, spanning
the digital and physical features of our products, as well as their
initiation on the production line. Accolade is our single product
innovation decision support and planning solution that still allows
individual teams to use the development tools of their choice.”
“With Accolade, transparency allows for better visibility from
the early phases of the development pipeline to alignment with
corporate strategy, not only for our executives but also for the
product managers and developers within their areas of
responsibility,” stated Dr. Peter Selders, CEO of Endress+Hauser
SE. “On top of that, we have increased the efficiency in our annual
review process with one single source of data.”
Sopheon will be hosting a series of Accolade for Smart Products
Discovery Workshops in the weeks ahead. Those interested in
requesting a workshop are invited to sign up here. And to learn
more about how Sopheon is transforming enterprise innovation, visit
our website at www.sopheon.com.
ABOUT SOPHEON
Sopheon (LSE: SPE) partners with customers to provide complete
Enterprise Innovation Management solutions, including patented
software, expertise and best practices to achieve exceptional
long-term revenue growth and profitability. Sopheon’s Accolade
solution provides unique, fully-integrated coverage for the entire
innovation management and new product development lifecycle,
including strategic innovation planning, roadmapping, idea and
concept development, process and project management, portfolio
management and resource planning. Sopheon’s solutions have been
implemented by over 250 customers with more than 60,000 users in
over 50 countries. Sopheon is listed on the AIM Market of the
London Stock Exchange.
Sopheon and Accolade are trademarks of Sopheon plc.
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Cheral Druck Sopheon Tel: +1 952 851 7500 Email:
cheral.druck@sopheon.com
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