National Foods pursues significant revenue growth from new products through new process, governance and adoption of Sopheon’s Accolade® Express solution
Lahore (Muhammad Yasir) – Sopheon, a global leader of enterprise innovation management solutions, today announces its partnership with National Foods Limited, one of the leading foods company headquartered in Karachi, Pakistan. National Foods Limited (NFL) has subsidiaries in the United Arab Emirates, United Kingdom and Canada.
With a strategic vision to achieve significant turnover growth by 2020, National Foods Limited wants to ensure long-term success by introducing a formalized product development decision making process to support the fast pace of change in the consumer markets. The team at National Foods recognizes that in order to maintain their competitive edge, they have to increase the pace of new product innovation and improve the success rate of these products. In terms of work process, the team is quite clear about the need to have one source of truth for all data and decisions related to new innovations, better strategic alignment across the different groups of stakeholders and better visibility at all stages of the product development process to mitigate the risk inherent in investments in bold, new-to-the-world products.
The CEO of NFL, Mr. Abrar Hasan stated: “After an in-depth evaluation of a number of software vendors, we chose the Accolade Express solution. Sopheon has the expertise and a solid number of customer references in the fast moving consumer goods (FMCG) space, the solution is Stage-Gate® certified, and we had really good interactions with the Sopheon team as well as CEO Andy Michuda.”
Dr. Fayyaz Ashraf, Head of Innovation, Research & Development at NFL explains: “We are keen to future proof our business by implementing a software solution that will enable us to continue to grow. Innovation plays a big part in assisting us to achieve our growth objective as we must continue to find richer revenue streams, increase portfolio profitability, and focus our efforts on the most commercially viable investments using a fully automated cross-functional approach.”
Mr. Syed Zeeshan Ali, Head of Information Technology at NFL, states: “Our strategy is to nurture business transformation, through automated solutions, by promoting efficiencies, increasing transparency and enabling greater speed in decision making. Sopheon’s Accolade Express will automate our Stage-Gate® process; this is what our innovation function needs to ensure that the right products reach our valued consumers by passing through a well-established, systematic process. We are excited to use this system to launch innovative products that continue to satisfy consumer appetite, and to ensure National Foods remains the brand of choice.”
NFL aims to achieve new heights of business performance and innovation excellence through this collaboration with Sopheon.