11 Feb 2009 07:00
Embargoed Release: 07:00hrs Wednesday 11th February 2009
Sopheon Plc
("Sopheon" or the "Company")
Sopheon Launches Enhanced Version of Accolade® Product Lifecycle Management Software
Latest Version of Accolade® Enables Right Choices on Where to Cut and
Where to Spend to Survive Recession and Protect Business Future
MINNEAPOLIS and LONDON-Feb. 11, 2009-Sopheon, the international supplier of software and services for product lifecycle management ("PLM"), today announces it has launched an enhanced version of its Accolade® product portfolio and innovation process management solution. Features being introduced in the software provide advanced decision support to help senior executives more effectively prioritise product innovation investments and keep available resources focused on projects promising high business returns. The new capabilities are expected to bring immediate value to recession-plagued companies that need to reduce costs and are concerned about undercutting long-term growth strategies.
The current business environment is perceived as the most uncertain that many organisations have ever faced. As the depth or duration of the recession remains unpredictable, business leaders are being forced to continually reconsider strategies and adjust plans and priorities based on a constant infusion of new, mostly negative data. Evidence is growing that spending on product innovation not only helps to sustain business success during a downturn, it generates dramatic financial benefits when markets recover. A study by the Strategic Planning Institute found that, during the past 30 years, companies that continued to invest in innovation during periods of recession generated 23.8% returns on capital employed when turnarounds occurred, compared with 0.6% for organisations that cut product development budgets*. Innovation has the capacity to transform crisis into opportunity.
New Accolade® Gives Product Innovators Five Critical Advantages In Addressing Recessionary Challenges
In today's turbulent markets, the ability to make product innovation decisions and portfolio adjustments quickly is not only a competitive differentiator, it is a survival skill. Accolade® software brings together the critical pieces needed in any economic climate to drive business results from product innovation: strategic planning, portfolio management, and end-to-end process automation and governance. The solution's value is amplified during a recession because it provides planning and decision-making support that helps companies to not only maximise returns from available resources while times are tough, but to develop programmes and strategies that will allow them to accelerate out of the downturn and emerge with increased competitive strength. Through their use of Accolade®, organisations are able to:
According to recent Gartner research, companies whose PLM priorities include deployment of technology applications such as Sopheon’s Accolade® can reduce product development costs by 30% or more. The savings happen because users are able to identify and abandon low-value or non-strategic projects early, before valuable resources are spent on development.
"Today's economic crisis is a time of great opportunity for companies that understand the business importance of continued, prudent investment in product innovation," said Andy Michuda, Sopheon's chief executive officer. "Since the market downturn, a growing list of top organisations such as Bayer HealthCare, Burger King, Novartis, PepsiCo and the U.S. Army have adopted our software. At the same time, current customers such as General Motors, Medtronic, Lockheed Martin, SABMiller and Verizon Wireless are extending the use of our solutions across their organisations. Anecdotal evidence indicates that increasingly, these investments are being made not in spite of the recession, but because of it."
The latest version of Sopheon's Accolade® software is available immediately for purchase and implementation.
Accolade® is a registered trademark of Sopheon plc.
*"Profit Impact of Market Strategy" (PIMS) study
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For further information contact:
| Barry Mence, Chairman Arif Karimjee, CFO | Sopheon plc | + 44 (0) 1483 685 735 |
| Vikki Krause | Hansard Communications | + 44 (0) 207 245 1100 |
| Claire Verhagen | Citigate First Financial | + 31 (0) 205 754 010 |
| Paul Davies, Corporate Finance | Seymour Pierce | + 44 (0) 207 107 8000 |
About Sopheon
Sopheon (LSE:SPE) is an international provider of software and services that help organisations improve the business impact of product innovation. Sopheon's Accolade® solution automates the product innovation process and provides decision support for the management of product portfolios. Its Vision Strategist™ offering automates the strategic product roadmapping process, allowing users to visualise and forecast the future of products, markets and technologies. 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.