At Wolters Kluwer, innovation matters. In ‘The Game Changer’, A.G. Lafley and Charan wrote that a companywide commitment to innovation in both products and internal operations can increase organic revenue, profit growth, and create competitive advantage. We couldn’t agree more.
That’s why, driven by our 2016-2018 corporate strategy, this year’s Global Innovation Award categories were: Greatest value to customers, Business model/operational innovation, Business improvements and sustainability. Last week, sixteen finalists presented their ideas to the company’s innovation board—which some call our very own ‘Dragons’ Den’. Today, we are pleased to announce our eight winning innovations.
Innovation and inspiration
As Nancy McKinstry, CEO, said, “Innovation is integral to our way of working. What inspires us are opportunities to innovate solutions that matter to our customers, their clients, and our operations. I see that ambition in our business units, divisions and in all of our regions. Hearing our people stand up and say things like, ‘This innovation saves lives’ or ‘This innovation helps companies get ahead’ is inspiring. The Innovation Awards are one of my favourite times of the year in the company.”
Driven by our 2016-2018 company strategy of growing our value for customers, employees and shareholders alike, this year’s awards were organised in four categories:
- Greatest value to customers: In which the call-to-arms was for ideas that create maximum value for our customers through new product innovations, enhancements or other expert solutions.
- Business model/operational innovation: In which company employees worldwide were invited to submit ideas that could reinvent the way we do business to deliver on our mission—a process, a plan, or other strategic initiative.
- Business improvements: Ideas that advance our operational effectiveness & efficiency in line with our strategic priority of driving efficiency and employee engagement.
- Sustainability: Ideas that significantly change our solutions or processes towards social and environmental contributions in, for example, data access and security, social responsibility in supply chains, strategic sourcing and more.
Launched internally in late 2015, the 2016 Awards generated more than 300 submissions from across the company.
All submissions were initially evaluated by strength of business case by Wolters Kluwer corporate strategy, or the company’s global innovation tournament in which voting was opened to our 19,000 employees worldwide. Early stage, as well as ongoing, innovations were supported with the company’s internal INVENT Fund.
Sixteen teams from seven countries made it through to the finals. Pictured below are the team members elected to present their cases to the formidable innovation board for the final hurdle.