("Sopheon" or the "Company")
Sopheon Announces Global Deployment of Enterprise Innovation Management Solution at The 3M Company
3M manages its global portfolio of innovation and growth initiatives using Sopheon Accolade®
Sopheon has today announced that The 3M Company (NYSE: MMM) a long-standing customer of the group, is using its Accolade software for new product development throughout its global enterprise. 3M's cross-functional innovation teams rely on Sopheon Accolade to streamline processes, manage risk, optimize decision-making and accelerate time to market.
3M produces over 60,000 products under several brands and is a leader in consumer products, safety and industrial, healthcare, transportation, and electronics. 3M's deployment of Sopheon Accolade is enterprise-wide, including every division and business group across the company. This implementation involves thousands of users at all levels of the business, including research and development (R&D) scientists and researchers, manufacturing, supply chain, finance, sales and marketing, as well as commercialization managers and senior executives.
"R&D is the heartbeat of 3M," said Elizabeth Edblom, Ph.D., Director, Corporate Research & Development Global Strategy and New Growth at 3M. "Innovation is the thread that connects our four business groups to the vast amount of science conducted by the thousands of scientists and researchers we have around the world. The unprecedented enterprise-wide transparency provided by the Sopheon Accolade platform allows us to know what's going on in new product commercialization before, during and after launch. Additionally, Accolade's unique portfolio management capabilities provide business leaders with planning and performance insights required to govern the millions of dollars 3M invests in innovation. Finally, 3M is proud of our Sustainability Value Commitment for all new products - and Sopheon Accolade helps make that possible."
Accolade is Sopheon's award-winning innovation management platform that connects people, systems and information across departments and functions. This collaboration and synchronization results in trusted, timely data for faster, better and more dynamic decision making. In addition to 3M, Sopheon Accolade has proven its value to thousands of other global users, such as Honeywell, Merck KGaA, P&G, Philips, BASF, Parker Hannifin and other innovation and market leaders across a wide variety of industries.
"3M's commitment to innovation is extraordinary," said Greg Coticchia, CEO, Sopheon. "With 8,000 scientists and researchers working on 51 technology platforms in 650 different countries, it's essential that they have a global system that allows engagement and visibility among all functions. In addition to enabling the alignment of strategy and execution, the configurability of Accolade allowed 3M to deploy a system that ensures the organization remains focused on outcomes and not processes."
For further information contact:
Andy Michuda (Executive Chairman)
+ 44 (0) 1276 919 560
Carl Holmes/Edward Whiley (Corporate Finance)
+ 44 (0) 20 7220 0500
Sopheon and Accolade are trademarks of Sopheon plc. Stage-Gate® is a registered trademark of Stage-Gate Inc.
About Sopheon. Sopheon (LSE: SPE) partners with customers to provide complete enterprise innovation management solutions including software, expertise, and best practices, that enable them to achieve exceptional long-term revenue growth and profitability. Sopheon's Accolade solution provides unique, fully-integrated coverage for the entire innovation management and new product development lifecycle, including strategic innovation planning, roadmapping, idea and concept development, process and project management, portfolio management and resource planning. Sopheon's solutions have been implemented by over 200 customers with over 60,000 users in over 50 countries. Sopheon is listed on AIM, operated by the London Stock Exchange. For more information, please visit www.sopheon.com.
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