We are proud to announce that Methodia has successfully passed the IMP3rove assessment process – an industry specific comparison, executed by the European Innovation Management Academy (EIMA).
IMP3rove Academy performed a thorough assessment of our innovation management capabilities and performances as key drivers for competitiveness, benchmarking Methodia to 899 companies from the same industry groups and class sizes, participating in the program.
Methodia has demonstrated excellent results compared to the Growth champions and the Average companies in the area of Computer programming, consultancy and related services, while the issued program report indicates in details the level of the company’s competitiveness on a global scale. The team is really proud that we are leading the innovation trends in our domain, for which the company received a special certificate, an evidence of its outstanding result and progress accomplished.
Methodia’s overall score of innovation management performance is 63%, which is 5% above the Growth champions in the same category. Being recognized as an IT business innovator in the digital economy is an important achievement for Methodia, a result of our hard work and more than 10 years of industry dedication.
The Innovation management performance analysis is broken down in different dimensions in “The House of Innovation” chart by A.T Kearney.
The following dimensions of innovation were studied in details:
Innovation Strategy
where an evaluation was carried out on the focus and direction of all of Methodia’s activities. This includes having a clear vision for the future – documented and accessible for the team to see, well understood and acknowledged by customers, partners and suppliers. Methodia scored 100% in this dimension with its innovative business model and vision for utilities industry.
Innovation Organization and Culture
Methodia has demonstrated that it’s advancing strongly on embedding innovation in the company’s structure and network. This includes internal readiness and capacity for growth and scalability, external cooperation and impactful partnerships. We still have a way to go on this indicator, but our short-term goal and approach is clear until the next round of assessment.
Innovation Life cycle processes
Results obtained in the following domains were evaluated: idea management; product/service and process launch, management and development (time-to-market and time-to-profit; success rate of innovation projects; integration of customer information and feedback, as well as continuous improvement of process parameters. Methodia is performing very strong on this parameter demonstrating operational flexibility on all levels of business.
Enabling Factors
The assessment covered the following success factors: maximizing IT, intellectual rights, project and human resources management, for increased business impact towards innovation success. Overcoming industry dynamics and business complexities on these parameters, Methodia is displaying a promising advancement, gaining strong organizational momentum in its vertical.
Innovation Results
Output of innovation management activities resulting in income from sales and operational profit. As a growing company with vast business scope Methodia’s progress in this domain indicates we have the necessary potential to grow and leverage our operational capacity and scope further.
Key takeaways and future objectives, which will be incorporated into our strategic plans, following the assessment:
1.Adopting a flexible approach towards planning and execution
Relying on the insightful review we received on our business performance and innovation level, we aim to embrace key findings and implement them on all organizational levels: streamlining conversations and easier collaboration among internal and external parties; developing an even more responsive long-term technology and product plan, by carefully mapping digital solutions to customer needs and market transformation; and driving an even deeper communication exchange and strategy consistency with industry players. Through a detailed analysis and optimization on processes we know we’ll continue to strengthen our operational efficiency and increase in ROI.
2.Creating a proactive environment of change to accelerate growth
Methodia will continue to conscientiously encourage internal improvements to move from our current reality into a better future state of serving our customers, implementing necessary performance indicators (KPIs) that can accurately discover the opportunities we can achieve and the gaps we need to close in order to be responsive to market dynamics.
3.Widening our scope of external partnerships
The company will not cease seeking innovative companies as strategic partners in Europe and abroad, in order to create a vast network of associates and expand our business offering both on an international and local level, driving more value for our customers.
Looking forward to the future, we are excited to see what horizons we’ll reach along our team, clients and partners, by applying relevant alterations in our approach, business model and innovation strategy to leverage performance and results.
