Definition:
Innovation as Services is a term that refers to both product and process innovation in service firms, sectors, and industries. It requires the development of new or improved services. Service Innovation means the generation of new services though this can be service-providing organizations in all sectors.
Introduction:
In today’s industrial and corporate world, each and every company is looking for innovation in their product or service outside their R&D department. It’s a concept introduced to each and every sector of the industry, be it IT, healthcare, consumer goods, electronics, or any other. Many companies do have their own innovation incubators and spend a lot of time improving the product or the service or the technology to the developed product. Several entrepreneurs, startups, universities work on new ideas, technologies, prototypes to provide a good and better solution to the existing problem statement to the giant companies.
What does it do?
Innovation as a Service helps companies to innovate and increase their growth through an organized Design Thinking Framework, Rapid Digital Prototyping capabilities, and an Innovation Platform that can be an advantage to accelerate solution development. The focus is on enabling the clients to deliver innovative solutions that connect users, providers, and members for personalized customer experience.
Clients require Innovation department or labs, which accelerate the idea of ice breaking concepts and the creation of POC’s or MVP’s that build towards eventual implementations. It may be for digital transformation, microservices, machine learning, blockchain, or intelligent automation, the solutions and methodologies will boost your time to market.
How does it work?
It begins with two different steps:
Ideation: In this step, the employees with a distinct set of skills come together to communicate their ideas to each other. The target is to get used to new technologies and think about possible outcomes for the company to create value from them. The outcome of this phase is a stable set of multiple trajectories to take.
Experimentation: Experiments and desired results are described in detail and are determined to get it. Based on the eventual result of the experiment, new technology or solution is accepted or declined. The goal of this step is to achieve the target with feasibility.
