Business Use Cases – Product Development
By removing barriers between people, a successful Social Business can quickly and cost-effectively bring new solutions to market and better meet customer needs.
By using social platforms for co-creation, Social Businesses can engage a larger community beyond their own R&D staff. This helps to resolve product development challenges that are too big for in-house resources to handle themselves. In ‘crowd-sourcing’ for example, a wide range of participants are asked to submit ideas, which are then evaluated, often by the crowd itself.
Social Business can help organisations to increase revenue by responding to markets faster and with more innovations. It provides an effective means to create and engage distributed product teams in an easily manageable way. These communities can work via a common dashboard with complete visibility across project details and people skills. This increased visibility across multiple work-streams eliminates silos, reduces project overlaps (which waste resources) and enables re-use of improved practices across communities.
Being a Social Business will also bring increased process innovation. For example CEMEX, a global cement supplier, created a social network to accelerate new product development through open collaboration among 20,000 employees. This resulted in a new global brand of cement mix being delivered in less than 4 months, compared to 12.
This article was taken from Intec’s whitepaper – Social Business – Connect.Collaborate.Compete.
For more information or to talk to Intec about Social Business Collaboration Software visit https://www.intec.co.uk/software-solutions/collaboration-solutions/ or call +44(0)1252 775400