- Among companies actively pursuing innovation, only about half have a documented strategy or roadmap in place. This waterfalls over to organizations having supportive policies and tools in place to advance innovation. Those that do show the best results.
- Customer experience drives most innovation initiatives. However, businesses must also prioritize furthering their back office tech stack to avoid building a house of cards.
- A majority of stakeholders admitted their organizations haven’t aligned their technology roadmap and investments with key areas of innovation — a critical gap that could undermine future success.
- Adopting corporate innovation programs is still relatively nascent. The most common course of action (establishing a dedicated innovation team) is taken by less than half of those surveyed. While only 10% report implementing open innovation programs like hackathons, demo days or establishing a dedicated innovation lab, that’s poised to double in the next two years.
Paul Centopani is an editor for National Mortgage News. Prior to joining Arizent, he worked as an editor at a private equity publication and freelances as a sports writer in his spare time. Paul grew … Read full bio