With Sopheon’s Accolade for Cost Savings you can manage initiatives focused on cost-takeout across your enterprise.

Capture, evaluate, and develop a pipeline of cost-savings initiatives, then prioritize the pipeline based on expected business value.

Track the performance – plan, forecast and actuals – of your cost-savings portfolio against your savings goal.

Align cost-savings initiatives with strategic priorities.

Identify and manage resource conflicts and trade-offs across cost-savings and innovation portfolios.

Get the essential decision-support and visibility you need to effectively steer your business in the right direction by managing cost-savings projects as part of your enterprise portfolio. Accolade empowers you to integrate the resource demands of your cost-savings portfolio into a holistic, enterprise-wide view of resource demands. Increase profits through improved collecting, screening and tracking of your cost-savings portfolio performance.

No matter which industry term you prefer – cost savings, cost reduction, value engineering, productivity, cost avoidance, etc. – this process is applicable across most industries.

Maximize the Impact of your Cost-Savings InitiativesSopheon customers are realizing significant gains from extending the use of Accolade enterprise innovation management software to direct their cost-savings programs:

• A multi-national food company saved $280 million in supply chain costs.• A global beverage producer made improvements in operating practices and organizational structure, expected to produce $1.5 billion of incremental savings.• A major manufacturer implemented cost-savings initiatives that increased the after-tax income from its stock by nearly 50 percent per share in just one year.

These customers use tools and techniques based on standard Accolade capabilities with appropriate configuration. The solution combines collecting and evaluating cost-saving ideas in order to build a robust pipeline of cost-reduction initiatives. Customers can track the execution and performance of initiatives in their pipeline. This provides a clear understanding of the corporate cost-savings strategies and portfolio performance for all relevant internal and external stakeholders.

An End-to-End SolutionSopheon offers the industry’s only end-to-end solution for defining, aligning and managing activities across the entire product lifecycle. Designed from the ground-up to facilitate high-value innovation, Accolade supports all four core innovation-related business process areas: 1) strategic innovation planning, 2) product portfolio management, 3) idea development, and 4) structured process execution. Companies can make more informed decisions about which product ideas to invest in, align resources with these opportunities, accelerate their time to market, and see a significant impact to their cost-savings programs.

Manage Enterprise Cost-Savings Programs and Initiatives with AccoladeIncrease Profits with a Cost Savings Portfolio Integrated with Enterprise Innovation and Resource Planning

With Accolade for Cost Savings you can:• Access all data from a single, centralized location.• Use cross-functional evaluation criteria to select and prioritize cost-savings programs.• Visualize the “S-Curves” with dynamic dashboards to track forecasts and actual savings against target for cost-savings programs.• Support better resource allocation between cost-savings and innovation initiatives by presenting a common view and preventing “cannibalization” of resources.• Attach data and calculations to initiatives, e.g. year-to-date plan compared to actuals, the latest year-end estimates, etc.• Incorporate approval workflow for seed funding.• Define deliverables and activities, perform waterline analyses, and monitor the status of your cost-savings initiatives.• Reduce the time and administrative effort required to create and manage programs through standardized processes and automated collaboration.

In addition to managing decision processes across your innovation and new product development (NPD) lifecycles, Sopheon can partner with you to develop an integrated portfolio, as well as innovation and cost-savings processes, which are specific to your needs and circumstances.

Taking the Next StepA fully-integrated innovation pipeline that contains the three major types of projects— new product development, new technology development, and cost savings—is critical to providing the decision-support and transparency required to efficiently manage your business. The Accolade advantage gives you the visibility to see conflicts in advance, allowing you to take action on the conflicting resources before it’s too late. Accolade supports cost-savings projects as part of your complete innovation and NPD portfolio. Contact us today.

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Benefits

A robust, prioritized pipeline of cost-savings initiatives to meet savings targets.

When integrated with financial systems, improved tracking of actual savings and latest forecasts to enable more agile and informed cost-savings decisions.

An industry first holistic, integrated view of cost-savings and innovation portfolios across your enterprise for optimal resource allocation.

A knowledge base of lessons learned to guide future efforts.

Figure 1: A sample view of a cost-savings portfolio. This straightforward project spreadsheet can be rolled-up by product line, brand or facility.

Figure 2: A reporting view tracking the latest forecasted and actual savings of the cost-savings portfolio against the initial plan.

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