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A Playbook for Managing at the Crossroads

OUR LATEST THINKING

Innovation Beyond The Four Walls

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November, 20, 2014

Cognizant Completes Acquisition of TriZetto, Creating a Fully-Integrated Healthcare Technology and Operations Leader

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FOSTERING INNOVATION

Organizations must innovate or face extinction. Tweaking existing processes and business models for the last dollar of costs or sales is necessary but not enough. Business and IT leaders must open their minds and ears to customers, business partners and every employee rank within their own organizations.

Sadly, most companies aren’t very good at this. Success requires carefully prioritizing incremental versus potentially game-changing initiatives and accepting that innovation is an unpredictable process that resists easy ROI calculations. Driving innovation requires casting a wider than ever net for ideas. Innovative ideas can come from newly-hired employees, those relatively low in the organization, in newly-acquired business units or from contractors. Even disaffected employees might have the market insights and fresh disruptive ideas an organization needs. Organizations must take a flexible but disciplined approach to prioritizing efforts and calculating ROI.

ASK SPECIFIC QUESTIONS

Popular myth says we should solicit a broad swath of ideas, without any restriction and then evaluate all of them on their individual merits. In our work with clients, we have found there are more efficient ways of generating valuable ideas.

Cognizant encourages teams to think outside the box-to resolve highly specific questions. For example, rather than devising a grand plan to accelerate go-to- market, we work closely with our clients on smaller pieces of the puzzle that can deliver high value.

  • Our Latest Thinking

Software for Payment Cards: Choosing Wisely
As the use of card-based payments continues to grow, financial institutions must improve their response times, strengthen their security, hone their future-readiness and enrich their business value. When selecting a commercial off-the-shelf (COTS) solution, banks must verify that the product and its support services are equipped to accommodate short and long-term business and IT objectives.
Unlocking the 'Smart Home'
By following a blueprint, communication service providers can move beyond commodity services and deliver truly differentiated and profitable smart-life offerings.
Advice Made Social
To remain relevant to today's customers of insurance and retirement services, producers need to embrace social business practices that empower consumers, provide more personalized and meaningful interactions and result in more fruitful transactions.
Driving Business Excellence through Innovative IT Service Management
IT organizations need to left-shift service support activities, utilize best-of-breed technology and adopt output- and outcome-based delivery to drive service excellence.
Building and Benefiting from a Diverse and Inclusive Workforce
To excel in today's global economy, organizations must attract and retain a diverse and inclusive workforce that sparks new questions, challenges old practices and offers innovative ways of collaborating that fuel outperformance.
Exploring Liquidity Aggregation Algorithm to Calculate Volume for a Given VWAP Spread
We develop a liquidity aggregation algorithm from a mathematical model based around volume-weighted average price (VWAP) calculations taking into consideration market depth.
Cloud-Enabled Enterprise Transformation: Driving Agility, Innovation and Growth
Whether used for process optimization or modernization, cloud solutions bring much-needed flexibility to enterprises struggling to stay ahead of changing markets.
Outcome-Focused IT Delivery: The Next Step in the Continuous Improvement Journey
As enterprise IT organizations adapt to a rapidly changing landscape, they need to align "bottom-up" delivery assurance techniques and maturity models with "top-down" business priorities to enable innovation to blossom.
Innovation Beyond the Four Walls
Companies are expanding beyond the four walls of the enterprise by embracing collaborative platforms and virtual tools and weaving them into the organizational structure.
Innovation Reimagined
In this Cognizanti issue dedicated to innovation, we explore the sources of innovation and discuss why there's never been a better—and more important—time to innovate.
 

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