Innovation and product development

Clients see the “how” of innovation and product development as their biggest challenge.


Traditional product value chains used to be linear. Now they are fast-moving product development value networks, encompassing an extended ecosystem of partners, suppliers, manufacturers and customers—all influencing the product lifecycle.

We believe that product innovation and product lifecycle management (PLM) is at a point of inflection and discontinuity. Digital enablers and new technology paradigms have become part of the product development and lifecycle management process, utilizing big product data and digital infrastructures. As customers use digital to change the way they interact with products, companies are looking for ways to use digital to develop them.

Accenture Strategy helps companies to seize the digital opportunity from our vantage point at the intersection of business and technology strategy. We define long-term strategies that leverage digital enablers. We align these strategies with corporate vision and goals, and then support with integrated solutions. With more than 25 years of experience working across geographies and industries, we have helped leading companies to improve their product lifecycle management performance, increase R&D efficiency and boost ROI from their R&D investments.

Why Accenture

Accenture Strategy’s Innovation and Product Development services cover the end-to-end spectrum of the product and service lifecycle - from ideation to retirement, unlocking engineering productivity and driving value across production, the supply chain and after sales services.

We understand the business dimension of Innovation and Product Development. With the digitization of businesses and processes the challenge is less about the “what” but more about the “how” in the execution of innovation and product development with the same rigor and discipline applied in other critical business processes.

We take a holistic, transformational perspective on Innovation and Product Development and PLM. Accenture Strategy’s approach to product innovation and PLM transformation is an outcome-driven business discipline that harmonizes people, process, data and systems based on proven methodologies and experiences in program management, value capturing, change management and industrialized delivery. As a result, our clients achieve high performance in growth and innovation that is right, fast, efficient and repeatable.

We understand the impact of digital and technology on Innovation and Product Development. Our strength is at the intersection of strategy and technology. Accenture Strategy has unparalleled breadth and depth of digital and technology expertise to boost R&D performance, because we are able to architect and transform organizations to embrace the digital advantages in PLM: product development collaboration with the extended enterprise; instant, multi-form, connected customer experience; data driven insights and decisions; and borderless infrastructure for nimble product development.

Accenture has one of the world’s largest PLM practices. With a global team of more than 4,000 professionals delivering PLM strategies, processes and solutions, we are combining industry specific knowledge with deep functional know-how. To further strengthen our capabilities, we strategically acquired three companies specializing in PLM: PRION Group, PCO Innovation and the industrial and embedded software business from evopro.

Specific Services

Our Innovation and Product Development group focuses on providing strategy consulting services that build the foundation for business transformations initiatives, large-scale systems integration projects and engineering outsourcing programs.

  • PLM Strategy & Transformation, defining the strategy that helps achieve profitable growth by designing the right innovation model, integrating with adjacent business areas and infusing latest digital technologies within the product lifecycle that is governed by a measurable, outcome-driven business case.

  • R&D Operating Model Design, defining the organization’s global operating model in R&D; planning and procurement; manufacturing locations; talent acquisition, retention and growth that enables developing and launching the right product, at the right time for the right cost.

  • Product Portfolio Optimization, optimizing product portfolio and reducing complexity using insight driven customer demand and cost-to-serve to improve margins and reduce product costs.

  • Product Complexity Management, providing methodologies and processes to drive product innovation at speed through streamlining processes and applying lean principles to eliminate bottlenecks in product design.

  • Frugal Innovation, developing a strategy that enables a competitive advantage on value and cost through disruptive innovation in emerging markets to deliver better products to the needs of markets that would otherwise not be reachable; and that may be leveraged in mature markets.

See how the concept of Modularity can help companies offer a wider variety of products, improve product availability and at the same time achieve significant cost reductions.