Electrolux Licenses Product Portfolio Management System
Apr 20, 2006
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Global appliance maker Electrolux selected an innovation process and product portfolio management solution from software provider Sopheon.
Electrolux will deploy the Accolade Sopheon system under an enterprise-wide agreement that covers company locations throughout Europe, the Americas, and the Asia-Pacific region, encompassing all product areas, including major appliances, floor care, and small appliances.
According to the supplier, the Sopheon Accolade(R) product innovation process and portfolio management system automates gate- or phase-based product development processes and provides strategic decision support that allows companies to increase revenue and profits from new products.
Electrolux will use Accolade's capabilities to help it more effectively prioritize investments in new product ideas and to guide its resource support for enhancements to existing products. The company expects Accolade to help strengthen the alignment between innovation strategies and day-to-day development activity, and to enable improved global collaboration among cross-functional teams responsible for conception and development of new products.
Sopheon said Electrolux will also benefit from Accolade's capacity to integrate with Microsoft technology, allowing the company to extend the use and value of the Microsoft systems deployed throughout the company's worldwide operations. Access to the system will initially be provided to approximately 1,400 users.
Sopheon partnered with Arthur D. Little, the global management consulting firm, in pursuing the Electrolux opportunity. Electrolux, Sopheon and Arthur D. Little will work together to implement the new system.
"We measure innovation by the amount of business and shareholder value it generates," said Johan Hjertonsson, director of Electrolux's consumer innovation program. "Our goal is to continue to lead our industry in revenues and profits from innovation by supplying the market with a steady stream of premium, new-to-the-world products that consumers want. We chose Sopheon's solution because it will help us make the right front-end decisions on which product ideas to invest in, and enable us to increase the speed, efficiency and cost-effectiveness of the processes we use to move those product ideas from the drafting table to the marketplace. Accolade is the most complete tool we've found for supporting the business of innovation."
"The Electrolux name is synonymous with innovation in the appliance industry," said Mike Connolly, European director for Sopheon. "And their strategies for maintaining their position of innovation leadership are clearly drawn. Accolade's capabilities are perfectly matched with Electrolux's requirements for increasing the visibility and coordination of its global product development efforts."
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