A Playbook for Managing at the Crossroads
Innovation Beyond The Four Walls
Cognizant to Present at Morgan Stanley Investor Conference
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.
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.
With many markets growing again, retailers are focusing on increased customer intimacy and channel expansion.
Banking and Financial Services
We help financial services firms, including six of the top 10 U.S. banks, to find innovative ways to manage risk, comply with regulations and enhance product features.
We partner with leading Life and Property and Casualty insurers worldwide to anticipate consumer needs and advance their business objectives, from back to front office.
Our deep industry experience helps everyone from payers to providers explore innovative new technologies for running their organizations more efficiently.
Using technologies like cloud, analytics and mobility, we provide companies with solutions that span clinical development, pharmacovigilance and compliance.