Co-innovation is the key to evolution

Feb 27, 2020 | 139 views

Annual corporate research and development spending worldwide increased by 11% in 2018, reaching $ 782 billion in investments in the period, according to analysis by PwC. Despite such impressive numbers, the innovation has entered the agenda of some companies recently. Organizations have taken a structured approach to the concept and often compete to establish who innovates the most.

The best way to collaborate with the moment the current market presents is by opting for coinovar. This must be done through a clear partnership between companies, employees and, above all, customers. In addition, more and more companies are establishing co-innovation partnerships not only with customers, but also with universities, suppliers, startups and even competitors.

When a customer or partner comes to you, they are looking for more than one supplier. In my view, customers come to the company with problems and needs they need to solve, but often do not know exactly the best way to do it. These companies need peers to walk with them to the root of their problems. Therefore, it is valid to say that co-innovation is a process that needs to be intense, evaluating and understanding from the beginning the business needs of the company, so that, together, we can reach a solution.

Sharing information about the challenges, the needs of end customers, products and services from the first contacts, makes the customer feel a sense of ownership and commitment from who is hiring. This helps build a strong, lasting and valuable partnership relationship.

The company that I lead has several projects in this sense and we are completely immersed in this concept. In one of them, she co-developed an IoT-based fuel monitoring system with a fishing fleet operator. This solution optimizes fuel consumption and helps prevent unauthorized use, which brings significant savings to the customer, as about half of a vessel's operating costs are fuel-related. But more than bringing benefits to the customer, this solution was also responsible for generating new perspectives and skills for us. This makes us better able to anticipate and meet the needs of other clients in the most diverse sectors.

Coinovar is synonymous with a whole market being driven and positively stimulated. By joining forces with other companies, it is possible for relevant ideas to emerge and become the basis for new products and services.

A co-funding program can evolve into a permanent partnership, with all parties playing a role in the ultimate customer service, and good for everyone. What I see is that more than simply the will for this to happen, it is necessary to understand the data journey of the entire ecosystem, the workflows, and the security of all elements of this new business environment.

To do this, it is important to be attentive to innovation - research to understand the scenario of the world's largest innovation poles, to be present in these locations and to create research labs for research and development. It is also necessary to actively encourage a culture of innovation in employees, creating a structure that helps bring the best ideas to the company.

Coinovar is more than simply having new ideas. Co-innovation must be part of the company's DNA. It becomes a fundamental part of your growth, at a time that is exactly what the market asks for.