The biggest reason to invest in product development is the amount of money at stake—costs and revenues—that can be significantly impacted by information technology investments in this arena.
This holds true for a range of industries such as aerospace and defense, apparel, automotive, consumer electronics, consumer packaged goods, consumer durable goods, industrial products, oil and gas, semiconductors, and software.
In these industries plenty is already being invested in product development. In fact, according to Accenture research and analysis, businesses are spending more on product development than ever before. For the 2,000 largest global public companies, research and development spending exceeds $680 billion. For some industries such as high tech and biotechnology, R&D spending can be 20 percent or more of overall revenues. The percentage of a company’s employees working in this area can reach 25 percent or more.DOWNLOAD THE REPORT TO LEARN MORE. [PDF, 141KB]