SPE.L Regulatory News (SPE)

14 Jun 2006 07:00

Embargoed Release: 07:00hrs Wednesday 14th June 2006 Sopheon Plc (`Sopheon') Timex Advances Innovation Strategy with Sopheon's Accolade System Leading Watchmaker Up and Running with Best-Practice Product Innovation Process in Only 60 Days Sopheon, the international software and services company, is pleased toannounce that Timex Corporation, the largest-selling wristwatch brand inAmerica, has deployed Sopheon's Accolade as its product innovation process andproduct portfolio management solution. Timex recently completed enterprise-wideimplementation of the system across all departments and to executive managementin a rollout that took approximately 60 days.Connecticut-based Timex was founded in 1854. It sells more than 30 millionwatches annually. The privately held company employs 7500 people at facilitieslocated in the U.S., South America, Europe and Asia.Timex operates in a fiercely competitive industry where ever-shorter productlife cycles have made continuous technology innovation critical to marketsuccess. Faced with the emergence of alternative timekeeping devices such ascell phones, PDAs and computers, Timex has continued to innovate and evolve itscore lines while expanding its product portfolio to include multi-functionwrist pagers, compasses, heart monitors and thermometers.Timex's implementation of Sopheon's Accolade system is integral to thecompany's adoption of Stage-Gate, the widely used product developmentmethodology. Accolade is being used to automate the Stage-Gate process and toprovide decision-making support for management of the company's increasinglycomplex portfolio of products. A primary reason Timex selected the Sopheonsolution is that it is specifically designed to support stage- or phase-basedproduct development processes and has proven capacity to strengthen processgovernance and throughput. Other considerations included the software'sease-of-use, its simple configurability and the speed with which it can beimplemented"We set a very aggressive timetable for our rollout of Accolade," said BerndBecker, vice president of product development at Timex. "Given the complexityof the implementation and the level of configuration required, I never expectedthat Sopheon would finish on time. But they did-in just two months and with nostart-up issues. Some of the first reactions to Accolade came from seniormanagement. They were immediately impressed by the level of detailedinformation the system gave them, and the ease with which that informationcould be accessed. With Accolade in place across our organization, we are doinga better job of managing our R&D investments, and we are fully realizing thebenefits of Stage-Gate. Sopheon and Accolade were clearly the right choice.""Most of the companies we deal with have identified innovation as a topstrategic priority and are acting with urgency," said Andy Michuda, chiefexecutive officer of Sopheon. "We give our clients the advantage of a systemthat is easy to implement, and customer service support that emphasizes workingsmart and fast without a lot of involvement by internal IT to deliver asolution that maps precisely to the adopting organization's requirements. Timexhad a clearly defined process and was very savvy about what they wanted toaccomplish through our software. As a result, we were able to hit the groundrunning and, working closely with their team, put a fully automated,world-class innovation system in place in a matter of weeks. For the client,this translates into accelerated time-to-value and a sustainable source ofimportant competitive advantage."Sopheon Accolade‚® is a registered trademark of Sopheon plc.Timex is a registered trademark of the Timex Corporation.Stage-Gate is a registered trademark of the Product Development Institute.All other trademarks and registered trademarks are the soleproperty of their respective owners.About TimexFounded in 1854, Timex is a privately owned company with manufacturing plantsand company offices in over 80 countries around the world. With more thanone-billion watches bearing the Timex brand sold world-wide, the TimexCorporation has been providing innovative, well-designed, and reliabletimepieces for over 150 years. For more information, please visit www.timex.comAbout SopheonSopheon (LSE: SPE) is an international provider of software and services thathelp organizations improve the business impact of product innovation. TheSopheon Accolade‚® product innovation process and portfolio management systemautomates gate- or phase-based product development processes and providesstrategic decision support that allows companies to increase revenue andprofits from new products. Sopheon is listed on the AIM Market of the LondonStock Exchange and on the Euronext in the Netherlands. For more information,please visit www.sopheon.com.Barry Mence, Chairman Sopheon plc Tel : + 44 (0) 1483 685 735 Arif Karimjee, CFO Andrew Tan Hansard Communications Tel : + 44 (0) 207 245 1100 + 44 (0) 7957 203 685 Frank Jansen Citigate First Financial Tel : + 31 (0) 205 754 010ENDSOPHEON PLC