21Jul
By: Pauline Ores On: July 21, 2016 In: Digital and Innovation Services Comments: 0

Markets and customers have changed, and companies must act radically to compete in this age of digital disruption. Speed and agility are keys to achieving this goal, and many companies are pursuing ways to foster a culture of startup innovation in their business. The aim is to bring compelling products and services to market with the speed and flexibility of a startup, while bringing to bear the vast reach and resources of the enterprise.  High-performing organizations are achieving growth through innovation and a flexible, collaborative approach.

Creating an Innovation Atmosphere

A successful innovation environment requires leaders to employ an innovation method and framework that puts innovation to work. It requires tools to facilitate collaboration and to break down barriers that inhibit transformation. Innovation requires a creative learning model that empowers managers and employees as innovators and develops future innovation champions.

CohnReznick’s Innovation Method

CohnReznick has developed a four-step iterative method to help drive innovation.  When paired with the combined power of process frameworks, physical and virtual venues,  ecosystems, domain expertise, and best-in-class IP/content management,  our Innovation approach accelerates outcomes.

  1. Ideate: Ideation begins by discovering the business challenges, pain points, value drivers, and key performance indicators. Customer experiences and interactions are profiled, and a business case is made for investing in the innovation process.
  2. Design: Potential solutions are defined and then explored and evaluated with respect to their potential to drive value. Assumptions are validated, and the solution is refined accordingly.
  3. Build: A solution is developed in an agile and iterative process and then piloted on a limited basis to test execution and to verify that forecasted benefits are being realized.
  4. Deploy: The solution is launched to the organization, but creative learning continues as real-world refinements are implemented and value is transferred to the organization. New ideas for improvement are generated and trigger ongoing innovation processes.

Our Innovation Method is designed to help organizations transform business models, improve customer experiences, and drive operational efficiency. Perhaps the most important aspect of our approach is that it is a repeatable process to be leveraged to build upon past successes and create new ones.

CohnReznick’s unique, state-of-the-art Innovation Lab helps clients navigate a disrupted digital landscape and transform business models for future growth. The Lab makes it possible to co-create with clients in a dynamic, iterative way. Whether you’re looking to create better customer experiences, design more efficient operating processes, generate new revenue streams, or explore new business models, the Innovation Lab can help you get to market faster and adjust more nimbly to a rapidly changing digital environment. Click here to arrange a private tour and begin building a foundation for an innovation ecosystem. 

For more information, please contact Paul Gulbin, managing director, CohnReznick Advisory Group and Digital and Innovation Services group leader, at 203-399-1916 or paul.gulbin@cohnreznick.com. For details on the CohnReznick Innovation Lab, click here.