Being a driver in innovation and global technological advancement, today’s automotive industry represents the most sophisticated technology owned by a majority of consumers. Automakers embrace new technologies at an early stage and continuously offer new high-tech features, which meet the consumers’ needs. Nearly every aspect of today’s automobile is high-tech: high-tech materials developed and manufactured through high-tech processes. Independent observers rank automakers among the world’s most innovative companies, being recognized leaders in R&D investments. Today, automotive companies register many patents each year for their innovative vehicle technologies, and employ a highly-skilled workforce to design and build their products.
Therefore we provide blueprints, dedicated trend content plans and industry expertise to support automakers and their suppliers in times of disruption and speed. Among our clients are the most admired car brands and many global 1st and second tier suppliers.
Innovation in the chemical industry is a cornerstone for growth and success. Even leading companies globally struggle with establishing the right processes to support innovation performance. Today’s highly competitive environment combined with volatile material costs, dynamic markets and ever-changing regulatory requirements pose challenges that inhibit the success of chemical innovation. Through working with companies of the chemical industry, we see a common set of challenges:
- Reduce complexity and support a standard, gated innovation process across the global organization.
- Faster time-to-market to retain competitive advantage and drive profitability.
- Effective cross-functional collaboration when it comes to innovation.
- Focus on the optimal innovation portfolio mix and assign resources accordingly.
- Better overview of R&D activities across global business units.
Therefore we provide blueprints, dedicated trend content plans and industry expertise to support the chemical industry in times of global competition and speed. Among our clients are many global chemical companies.
Consumer goods companies know how critical innovation is to realize sustainable growth, profitability and competitive differentiation. Even market leaders struggle with innovation and new product development initiatives. Some facts of consumer goods innovation success and growth:
- A key success factor is successful product launches. Yet only 50% of new products meet the respective profit objectives and a large majority of products fail to earn even $7.5 million in their first year.
- Consumer goods companies often struggle to launch disruptive products that move beyond line extensions – the key for competitive differentiation.
- Executives focus more and more on innovation performance: What is the right product portfolio that will meet changing customer needs? Which products create real value for our customers and how can we grow brands across the organization?
The right innovation management approach helps to boost product success rates and to meet profit objectives. Therefore we provide blueprints, dedicated trend content plans and industry expertise to support consumer goods companies in times of disruption and speed. Among our clients are some of the most admired brands with proven innovation success.
Over the last couple of years, the aerospace & defense (A&D) industry is being squeezed to accomplish more with fewer resources and less risk. Additionally, increasingly complex resource and technology dependencies combined with tighter regulations, and a highly competitive global market put additional pressure on A&D organizations.
Especially in light of budget constraints and growing complexity, executives recognize innovation as a key driver for long-term revenue growth and significant competitive differentiation. The success depends on building effective aerospace and defense innovation ecosystems that include collaboration and connects all parts of the enterprise – from design to manufacturing to operations.
Among our clients are foresight and planning divisions of high advanced defence forces and many global defence companies and their suppliers.
Utility companies are under pressure by strict regulations, a volatile pricing for natural resources, many options for investments in renewable energy and new competitors to name just a few. Technological innovations play a central part in the utility sector and the increasingly integrated nature of the energy system is also leading companies to innovate in a more collaborative manner across the supply chain. Information technology and big data hold a lot of potential to bring innovation to the utility industry, from predictive maintenance to optimizing the grid or accommodating increased production from renewable energy.
We are working with utility companies along the supply chain for many years and have a deep understanding of their challenges to innovate. We help many utility companies to stay ahead of competition by managing and digitizing their innovation function.
Engineering & Manufacturing
Effective innovation in industrial manufacturing depends on a number of complex and connected factors. This includes dependence on changing demand cycles, rapid product and technology updates and volatile raw material prices. Successful industrial innovation presents a number of challenges, as the lifecycle of products continues to shorten:
- Growing pressure to make product development and production more efficient to drive profitability.
- Products are more complex, often with high sophisticated engineering components.
- A need to improve product quality to establish and maintain significant competitive differentiation.
- Differentiation by services which are driven by digitization and data analytics.
We provide blueprints, dedicated trend content plans and industry expertise to support engineering and manufacturing companies in times of disruption and speed. Among our clients are many market leaders with proven innovation success.
Financial Services & Insurance
Today, the financial services industry faces great challenges, from increased regulation and globalization to technological and reputational risks. Mergers and an evolving competitive dynamic get more pressure while banking, insurance industry and financial services now require a unique blend of technology and service operations to support its businesses. It is no longer enough to simply save costs on back-office functions.
The right innovation management approach helps to make the most out of digitization and to meet profit objectives. Therefore we provide blueprints, dedicated trend content plans and industry expertise to support banks and insurances in times of disruption and speed. Among our clients are some of the most innovative companies in the industry.
High-tech & Electronics
In an industry where the pace of technology development is fast and product cycles are getting shorter every day, profitability is driven by the ability to quickly develop the right products for specific markets in a continuous manner. Organizations across the high tech industry talk about a similar set of challenges that impact their innovation efforts:
- Identification of the right innovation projects that have the most potential as marketable products.
- Smart allocation of resources to leverage synergies.
- Flexible adaption of innovation strategies to changing customer needs and cyclical demands.
- Short product lifecycles and the need to launch new products to stay competitive.
Our integrated innovation management approach including methods, tools and execution support helps to boost product success rates and to meet profit objectives. Therefore we provide blueprints, dedicated trend content plans and industry expertise to support the high-tech and electronics industry in times of disruption and speed. Among our clients are some of the most admired brands with proven innovation success.
IT & Telecommunication
IT and telecommunications are at the epicenter of growth, disruption and innovation. Mobile devices and related broadband connectivity continue to be more and more embedded in our society and they are key in driving trends such as Internet of Things (IoT), video streaming, and mobile payments. The number of connected things continues to grow as mobile and smart device utilization and connectivity continues to expand.
As the number of embedded devices grows, IT and telecommunications companies look for opportunities to increase revenue through their core businesses such as network connectivity, sale of network equipment and devices. But there is an increasing need to also look into new services and business models that might change the game of the market.
Our innovation management approach supports need-driven business model creation based on trends and technologies. Therefore we provide blueprints, dedicated trend content plans and industry expertise to support IT and telecommunications companies in times of disruption and speed.
Life Science & Healthcare
A healthy population is a prerequisite for economic prosperity. At the same time, the health sector is an important economic factor. Rising life expectancy will change the socio-economic systems from the state pension, healthcare, family and elderly care to other social services.
Due to the intensity of public intervention, the path of innovations into the healthcare market differs significantly compared to other markets. Whether an innovation will be integrated into healthcare also depends on specific interactions on the insurance market between insurers and insurees as well as the market for contracts between health insurance funds and providers. Innovations are highly influenced by public intervention and governmental regulations.
On the other hand we see technology driving a lot of innovations and many new services entering the market in the next couple years. The right innovation management approach helps to focus on the relevant opportunities and timing of new services and products.
Oil & Gas
The low price of oil is both an opportunity and a challenge for the industry. Well-run oil and gas companies that are strong today are likely to emerge even stronger after prices rebound. While the availability of oil fields and the associated equipment is always dominant, oil and gas companies also focus on cost-effective production to survive. This means further development and improvement of new technologies, production methods and processes.
The right innovation management approach helps to boost product success rates and to meet profit objectives. Therefore we provide blueprints, dedicated trend content plans and industry expertise to support oil & gas companies in times of disruption. Among our clients are some of the largest oil & gas companies with proven innovation success.
Continuous innovation is the defining characteristic of the pharmaceutical industry. Yet, pharmaceutical innovation is a highly unpredictable process. It follows a technology-push model dependent on scientific breakthroughs with uneven timing and outcomes, that are hard to foresee. Technological competency, decades of rigorous research, and profound understanding of unmet customer needs may prove insufficient for market success as the critical decision for commercialization remains outside the firm.
Therefore, drug innovation requires savvy strategic, organizational, and managerial decisions. Our innovation management approach helps to structure and organize the R&D pipeline from technology scouting to roadmapping.
Public Sector & Education
The world’s public sectors face acute pressures to adapt. Challenges arise in ageing populations, climate change, migration, healthcare etc. under tight fiscal limitations. Nowadays, there is a strong justification for efficiency gains, better governance, faster delivery, and more citizens' involvement in the public sector.
However, there are good reasons to doubt that the public sector is able to innovate. These are some reasons, why innovation in the public sector is so difficult:
- No solid investment models for innovation in organizations in place.
- Lack of dedicated budgets, teams, processes and skills.
- Discouraging reward and incentive systems.
- Departmental silos blocking the sharing of innovation.
- Lack of mature risk management methods for innovation labs.
With our end2end innovation management model even highly complex organizations can implement and establish a sustainable and impactful innovation function. We have enabled various public sector entities to strategize and innovate in collaborative settings.
If it's building construction, sustainability, site selection, accessibility to infrastructure and amenities, branding, property management and a wide array of other issues specific to each real estate asset class, digital disruption will have a huge impact on the real estate sector. Investing in productivity improvement and developing both an awareness of technology advances and the ability to respond to them will be the hallmarks of tomorrow’s leading companies.
ITONICS has helped many real estate companies in building and establishing an impactful innovation management function. We have created a dedicated digital real estate team and a partner network with the most respected real estate experts in place.
Retail & Trade
Changing consumer behaviors, attitudes, and preferences - put together by comprehensive changes in technology - have necessitated dramatic change in retail and trade. The ongoing challenge to maintain market share is exacerbated by new entrants with innovative products and services. There has been no escape from the impact of digital and many technology-driven firms are disrupting the sector since many years now.
Our answer to the huge pressure on retail and trade is continuous innovation - not only in digital but in all aspects of the business. Our industry specific knowledge, blueprints and best practices allow for fast execution and impactful results.
Transportation & Logistics
The logistics & transportation industry forms the backbone of modern global supply chains. Disruptive technologies like robotics, autonomous vehicles, low-cost sensors, IoT, and augmented reality drive efficiency and new business models at the same time. Logistics and transportation companies are facing a massive change in the next couple years.
Our answer to the huge pressure on transportation and logistics is systematic innovation - not only in digital but in all aspects of the business. Our industry specific knowledge, blueprints and best practices allow for fast execution and impactful results.