Generating more value from innovation is top-of-mind again. Innovation, how it's
inspired, managed and measured, is the new frontier in global R&D.; And as R&D; goes
global, innovation results become paramount. At Symphony Services, we are focused
on creating value through innovation.
Creating Value through Innovation
At Symphony, we understand true innovation. It is not about inventing a clear product
or just 'creativity'. It’s about successfully creating and delivering value to customers
- in the form of a new or improved product or service that earns sustained profits
for them (and us). We also understand that companies are not just globalizing their
R&D; now. They expect to get innovation along with increased productivity and speed
to market. Proactively fulfilling that need, Symphony has built a culture of innovation
that includes an ongoing process of investigation, revelation and execution in the
way we work.
Managed Innovation at Symphony
To build and sustain a culture of innovation, Symphony has employed a comprehensive
discipline of innovation management and metrics. The
overarching approach is to encourage new ideas from every part of the organization
by creating a continuous cycle of innovation education, engagement, and rewards.
Processes are instilled to separate the wheat from the chaff and resources are focused
on the best ideas that have a supporting business case; that can move the idea from
innovation to ROI, either in terms of revenue and/or market share. Already organized
into Global Operating Centers (GOC) dedicated to one client each, the company has
trained and continues to manage its GOC and supporting Business Unit (BU) leaders,
clustered by domain, in the art of building and sustaining an “Innovation Circle
of Excellence”.
The Symphony Innovation Program
The Symphony Innovation Program is a formally instituted, organization-wide program
focused on leveraging innovation to create value – for clients and other stakeholders.
The Program is designed to encourage innovation at all stages of the product development
life cycle.
Benefits to Clients
In line with the Symphony Innovation Program’s prime motive of ‘value creation through
implementation’, more than 800 ideas (from the 7000+ submitted so far) have been
implemented generating substantial benefits for clients. Symphony’s innovations
have resulted in lowered TCO, better product quality, faster time-to-market and
revenue recovery for our clients and our clients recognize us as their “Innovation
Partners”.
Patents – A total of 33 patents have been filed on behalf
of Symphony’s clients. With Symphony’s working model, the ownership of the patent
resides with the client and the Symphony Innovator is named as the creator.