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Industry Summary Articles

Friday, January 18, 2019

Sopheon Releases Solution for Successful Execution of Strategy

Sopheon today releases the latest version of its Accolade® Enterprise Innovation Management solution that goes further than ever before to support the successful implementation of corporate strategy.

With the growing number of companies in the midst of a business transformation in response to the digital economy and its dynamic, highly disrupted markets, addressing the low rate of success in realizing strategy has become more critical than ever. Research has shown that only 13% of companies realize their strategy1, and only 56% of strategic initiatives are considered successful.2

“Companies that do not adopt more interconnected and adaptable operating models will not remain viable in today’s new business landscape driven by digital disruption,” said Sopheon CEO Andy Michuda. “Most companies have some form of digital transformation or other strategic corporate initiatives underway, but many are failing to execute on these successfully. We see a lack of corporate-wide understanding of, and alignment around, strategic priorities to be a primary cause. This is complicated further by a lack of connection and transparency between the corporate entity and the operational execution teams resulting in poor or incomplete data for strategy decision making.”

Sopheon’s latest software release strengthens the linkage of strategy and execution. Accolade allows an organization to connect its strategic initiatives with operational execution activities, giving the company a single version of the truth to:

  • Increase strategy realization rates: Real-time information informs and enables faster responses and adjustments for maximizing success, addressing and mitigating problems and risks, or avoiding challenges and potential risks.
  • Improve financial and organizational performance to strategy.
  • Provide transparency and visibility to increase knowledge workers’ understanding of how their work directly contributes to achieving strategy.
  • Reduce the latency time for decision making from historical planning cycles of 12 months to 3 months for revised planning, and from 3 weeks to 1 day for real-time portfolio reviews.
  • Optimize investment and human resources to the most important and strategic activities of the organization: Increased visibility improves resource allocation to the most critical strategic projects and products for their successful and timely completion.

Richard Herd, Director of Program Management Tools, Strategy & Deployment at longstanding Sopheon customer, Honeywell, has said of the new release: "Honeywell is excited by Accolade’s advances in support of enterprise adaptability, segmentation and product execution. The enhancements in Accolade 12.2 will help us navigate change more effectively as an organization, and streamline our daily work on a team and personal level so we can move the business forward more quickly.”

Accolade 12.2 is available immediately for upgrade, purchase and implementation. All Sopheon Accolade customers who are current on Maintenance and Support program fees are entitled to receive updates to their currently licensed products for this and future release upgrades. New capabilities in Accolade 12.2 are also available to customers with Accolade Express for PPM deployments. Implementation services may be required.

To view the original press release, please click here.

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