Kevin Prendeville, Managing Director with Accenture’s Product Lifecycle Services service line for the Communications, Media and Technology operating group, explains how a key lever for competitive success is the ability to deliver innovative and impactful products that, leverage smarter investments in the all-important product development arena.
Just a few years ago you may remember the market-leading companies in the communications and high-tech sector such as smartphones and PCs. Now the tables have turned for a number of them. Some of these leaders are now followers while some followers are now leaders.
This change has pivoted on the ability of companies to deliver innovative and impactful products leveraging and maximizing their large financial and personnel investments in the product development arena. This core business process area, known as Product Lifecycle Management (PLM), extends from idea generation, through product market launch, to product retirement.
Large communications, media & high-tech companies can spend one billion dollars or more per year on Product Lifecycle Management processes, according to Accenture analysis. By improving these processes, they can substantially increase revenues and reduce costs.