Managing Innovation In Multinational Enterprise Commerce
I propose the introduction of a new product, the Invoice Data Reader System, to Wipro Limited. Wipro Limited is a major provider of Information Technology service worldwide, based out of India. It has a presence in over 50 countries and has more than a million employees. I will justify how the product is a good strategic fit into the company's existing portfolio and explore the relevant innovation models that can be applied here from the class learning's and also some frameworks outside the class syllabus such as PESTEL and Porter's 5 forces.
(Source: http://en.wikipedia.org/wiki/Wipro)Invoice Data Reader System
Invoice Data Reader System is a Forms processing system by which one can capture information entered into data fields and convert it into an electronic format. Form processing software provides the opportunity to companies to automatically process all incoming documents, automate their workflow, and work with hard-to-handle, handwritten and unstructured documents. The software allows for the classification, keyword-spotting, and extraction of information from handwritten letters and loosely structured fields within forms. It digitized documents into user-defined classes or "categories" (letters, contracts, claim forms, accounts receivable, etc.) based on both their geometry and their content. The software analyzes the layout of items on the document. Then, using a general dictionary and trade vocabulary, it carries out a literal transcription of the handwritten and/or typed areas and then extracts key-words or phrases in order to determine the category of the document.Schematic Diagram of the System functionalityUnique Selling Proposition
Enhances the performance and increases the efficiency of an organization by reducing manual labor and human error through automated processes which reads all kinds of incoming documents which are hard to handle, hand written and unstructured through keyword spotting, general dictionary and trade vocabulary and smart classification to sort the documents as per different category.Strategic fit
Wipro's Analytics and Information Management services help customers accelerate enterprise wide performance through smart, agile and integrated analytical solutions and frameworks. By bringing together the combined expertise of Analytics, Business Intelligence, Performance Management and Information Management, it helps customers derive valuable insights, make informed decisions and drive revenues by harnessing and leveraging enterprise information.
It offers comprehensive services across:
Business Analytics -- helps customers derive actionable insights across key aspects concerning their customers, products and services enabling them to make quicker, accurate decisions.
Business Intelligence and Performance Management -- enables customers improve operational efficiencies, drive transformation and change management initiatives by monitoring and managing performance.
Information Management -- provides customers a competitive edge through improved management of information.
Through its comprehensive Analytics and Information Management offerings, customer can derive valuable insights, improve visibility and build agility into entire decision making process. Thus, the "invoice data reader system" is yet another offering from Wipro which can be delivered to the client through proven prowess of Wipro's Analytics and Information Management services.Innovation Type - Radical or Incremental?
It can be argued that the product I am suggesting is radical as such a device, in complete functional and commercial form, does not exist currently in the market. Wipro would be exploring new territories, different from its traditional software development area and this would make qualify it as a path breaking attempt. Hence, I call it a Radical type of innovation.Marketing ObjectivesSales Volume
Invoice Data Reader System is aimed at manufacturing units which receives huge volumes of invoices from different vendors. It helps in increasing the overall performance of the stores by reducing human errors and manual labor by automating the entire process. Due to the increasing growth of the manufacturing sector, this product can create demand in the market.
Sales Volume at one
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