20 Mar 2007 07:00
Embargoed Release: 07:00hrs Tuesday 20th March 2007
Sopheon plc (`Sopheon') Land O'Lakes to Deploy Sopheon's Product Life Cycle Management Solution
Leading Consumer Goods Company Adopts Accolade‚® to Automate Stage-Gate‚® Process
and Support Focus on High-Value Products
Sopheon, the international software and services company, announces today that Land O'Lakes, Inc., a leading dairy co-operative, is implementing Sopheon's Accolade product life cycle management (`PLM') system as the technology foundation for its product innovation processes. The solution will be used initially within the company's Dairy Foods business unit, where it will support cross-functional teams responsible for developing and commercializing new products. Plans include subsequent enterprise-wide deployment.
Headquartered in St. Paul, Minn., Land O'Lakes generates annual revenues of more than $7 billion and is one of the largest dairy co-ops in the U.S. It markets milk, spreads, cheeses and deli products to consumers, food services and food manufacturers throughout the world.
Land O'Lakes also offers an extensive line of agricultural supplies and state-of-the-art production, distribution and business services. During its 86-year history, the company has established a reputation for quality, strong brands and innovation.
Land O'Lakes has stated that one of its principal strategic goals is to incorporate best practices into all aspects of its operations. This focus is part of an overarching plan to drive additional revenues and profit growth from the company's core businesses. Actions include an initiative aimed at enhancing the process for product innovation.
Sopheon's system will be used to automate the Stage-Gate product development methodology being deployed by Land O'Lakes. Accolade will streamline the innovation process, making it easier to use and reducing the administrative burden otherwise associated with its implementation. Step-by-step task guidelines and Land O'Lakes' best-practice based report templates have been embedded in the software to support efficient process execution and successful completion of deliverables. The system will strengthen innovation process governance by providing decision support and controls that enable more informed prioritization of product development projects.
"Innovation is essential to our business success," said Tom Grueztmacher, vice-president of research and development at Land O'Lakes. "Accolade will automate our product development process and assist us in setting project priorities. Its capabilities will help to ensure that the right new products get to market, and get there on time. In designing our system we benefited from Sopheon's domain expertise in product-development best practices and the fact that they have installed and supported similar, successful systems for a substantial number of consumer packaged goods (CPG) companies. Their industry-specific know-how gave us an important leg up in developing a process in which we can have confidence."
"Business process improvement is a central strategic thrust for most companies today," said Andy Michuda, CEO of Sopheon. "And recent surveys consistently place product and service development processes among the top improvement priorities. The reasons are all about business. Improved innovation means substantial increases in portfolio net-present-value and, ultimately, higher profits, revenues and stakeholder returns. Land O'Lakes' aim is to compete not only with superior products, but also with superior product development processes. We are committed to helping them achieve that goal."
Land O'Lakes' deployment continues an extended pattern of Accolade adoption by major consumer goods manufacturers. Ten of the 100 companies comprising Consumer Goods Technology magazine's current registry of the world's largest consumer goods producers are using the Sopheon system. Examples include Cadbury Schweppes, Electrolux, Nestle, and Reckitt Benckiser.
-Ends-
Accolade‚® is a registered trademark of Sopheon plc.
Stage-Gate‚® is a registered trademark of the Product Development Institute.
All other trademarks and registered trademarks are the sole
property of their respective owners.
About Land O'Lakes
Land O'Lakes, Inc. is a farmer-owned food and agricultural cooperative with annual sales of more than $7 billion. Land O'Lakes does business in all 50 states and more than 50 countries. It is a leading marketer of a full line of dairy-based consumer, foodservice and food ingredient products across the United States; serves its international customers with a variety of food and animal feed ingredients; and provides farmers and ranchers with an extensive line of agricultural supplies (feed, seed, crop nutrients and crop protection products) and services. Land O'Lakes also provides agricultural assistance and technical training in more than 25 developing nations. For more information, please visit www.landolakesinc.com.
About Sopheon
Sopheon is an international provider of software and services that help organizations improve the business impact of product innovation. Sopheon's Accolade system automates and governs the innovation process, enabling companies to increase revenue and profits from new products. Sopheon is listed on the AIM Market of the London Stock Exchange and on the Euronext in the Netherlands. For more information, please visit www.sopheon.com.
For further information contact:
Barry Mence, Chairman Sopheon plc Tel : + 44 (0) 1483 685 735 Arif Karimjee, CFO Andrew Tan Hansard Group Tel : + 44 (0) 207 245 1100 + 44 (0) 7957 203 685 Floor van Maaren Citigate First Financial Tel : + 31 (0) 205 754 010
SOPHEON PLC