Inventium Case Study
Embed an innovation process and capability to increase the success rates of new ideas launched to market, and reduce money wasted on launching ideas that don’t appeal to customers.
What we did
- Trained three intakes of Innovation Champions (approximately 5% of the organisation)
- Designed and helped to embed an organisation-wide process for innovation
- Trained leaders in how to support innovation
- Conducted our Innovation Maturity Index at three separate times to track progress and provide specific recommendations to maximise success
- Set organisation-wide Innovation Missions to guide Australian Unity’s strategic focus for innovation.
The results
In FY16:
- 53 experiments were completed, saving millions of dollars in expensive pilot studies and poor ideas implemented.
- generated $7.25 million in revenue from innovation.
- 66% uplift in the effectiveness of Australian Unity’s Innovation Process
- 28% organisation-wide uplift in innovation capability
- 26% uplift in the effectiveness of the organisation’s culture in driving innovation.
It has been great working with Inventium. Australian Unity has taken a great leap forward due to the support from the leaders of the business and from Inventium.
