Defining improvement areas & the case for change at a Nordic tech company
The client is a Nordic technology company with > €5 billion in yearly sales. Being a technology leader, IP is very important for the client. The client wanted to improve and harmonize its IP management to increase the business impact by becoming more proactive, systematic and business-driven. Improvement initiatives had been conducted in previous years, but there was uncertainty regarding how to optimally move forward to reach the desired state. The client was also not able to demonstrate what impact IP had on the top and bottom lines.
The client worked with Konsert Strategy & IP to be able to identify gaps and improvement areas in IP management, and to prioritize the order of which to develop and implement adequate solutions. An IP business review was conducted, sponsored by senior cross-functional steering group, to identify pain points in the current IP management set-up, to set an action plan for how to address identified improvement areas, to identify external drivers for change, and to develop business case proof points to demonstrate the financial value of IP.
The IP business review resulted in a basis for decision for the Executive Board on how to take action to become more business-driven in IP management. The basis for decision included an evidence-based business case demonstrating an impact on the bottom line from IP in the range of 25-40 MEUR in steady state. Based on the project’s recommendations, the Executive Board made the decision to run a company-wide business-driven IP strategy project as the starting point for improving the financial returns from IP.