Account-led innovation growth

The current pandemic has augmented the need for innovation and crafted a fresh perspective on how to approach innovation at scale without bringing radical change to the organization’s structure.

While looking at managing innovation in an organization, one needs to think of four key aspects how to amplify innovation with the aspiration to accelerate innovation and apprise the value of innovation.

The key mantra is accelerating growth with account-led innovation.

This requires a sophisticated approach to building innovation culture in the account to ensure customer experience as the north star for a qualitative quantitative benchmark result with impact.

Launch innovation culture and perception enhancement

The successful exploitation of new ideas is crucial for any business sector to improve its new offerings, processes, services, and efficiency – which eventually improves the ROI. While the account team has direct access to client functions and a deeper understanding of business know-how, the right building innovation culture will not only establish a flexible, sustainable model for rapidly building, co-creating new capabilities but also realize value from the innovation ecosystem and embedded partners in standard ways of working.

Innovation cannot be elevated in a vacuum. It requires formulating right design principles to underpin the innovation delivery model and enhance the account team and leadership mindset enabling all of them to build new capabilities.

• Building process, platform, proficiencies, and proceedings to capture ideas and collaboration
• Establish clear approach for facilitating, qualifying, and prioritizing the innovation pipeline
• Encourage risk taking, research, fail-fast culture, and shared responsibility for innovation
• Creating a supportive environment where the team can express ideas freely and promote openness
• Reward and recognition program to celebrate innovation success.

Subsequently taking this strategy into next level by creating global innovator community for  exchanging ideas vertically at business level, to specific sector, cross business unit and horizontally at each innovation type. It’s an innovation journey where the team strength can be amplified to create value by bringing ideas into execution and adoption. Success hinges on constant focus on value creation by breaking silos and embracing openness towards ideas with continuous innovation.

Conclusion:

Account-led innovation represents a bottom-up approach shifted from account-centric to account-specific innovation that includes all stakeholders in the account. Buy-in from employees is essential in order to capitalize on their deep knowledge assets and drive frugal innovation at end customer. Innovation needs strong leadership consensus and an encouraging environment and enabling investment. Organizations need a large funnel of ideas to identify those that can be implemented. Scale is the key driver for account led innovation At Capgemini’s Applied Innovation Exchange, we are committed to driving manage innovation at scale by engaging accounts and leveraging client-centric innovative services and which includes services such as ideathon, hackathons, start-up mela, thought leadership engagement, etc.  For more details on scaling innovation. https://lnkd.in/gHZqXPf

Ranjan Pradhan

Expert in Financial Services, Technology Consultancy

I have a diverse experience in Banking and financial services domain. Plus a deep domain expertise in areas such as digital strategy, Core Transformations, digital only models, payment centralization, Product management, Cloud Strategy and Emerging technology based tools to solve business problems. I had a multi-dimensional role across the entire value chain of IT services including Business & Strategy Consulting, Change Management, Solution Design, Building ecosystem of Partners, Start-ups, Universities and Clients to serve future IT and business needs.
I am Leading innovation center of excellence – Applied Innovation Exchange, Hyderabad, India by developing new business models to open additional channels of revenue through innovative ideas and cross industry connects. I am responsible for constantly driving Innovation agenda for our clients through Capgemini’s Applied Innovation Exchange program, co-creating solutions that can scale for enterprise needs and developing new value propositions for our customers & end consumers, applying cross industry innovation.
Before joining Capgemini, I was working on various banking & Insurance technology platforms like Core solutions, Microsoft Dynamics CRM Solution, Block Chain, Digital Banking, DMS and Reporting tools from vendors like Oracle, Infosys, VeriPark, Microsoft, Edgeverve among others. I was Managing Business consulting team, and Responsible for Business case development, account mining, strategic and Innovative advisory, digital and Analytics delivery.
In my spare time I like to swim and try to spend as much time as possible together with my family and friends.