CLEVELAND, July 20, 2011 /PRNewswire/ -- Whether engaging experts from the outside to develop a new energy source or discover a vaccine for AIDS, leaders around the globe acknowledge the need to innovate collaboratively if they are to solve the most critical problems facing business and society today. NineSigma, the leading provider of Open Innovation and collaboration strategies and tools, says the imperative to innovate for organizations is greater than ever, and can make a difference to more than the success of an enterprise, but its ultimate survival.
Innovative enterprises in business and government are realizing billions of dollars in tangible value because of such collaboration. Done right, the Open Innovation process accelerates time-to market for new commercial products, speeds solutions to global challenges, increases top-line growth, and reduces risk. NineSigma's unique approach, enabling internal and external collaboration, can accelerate development time by 30 percent or more. Beyond those benefits, though, the NineSigma approach to Open Innovation also closes internal development gaps and helps transform an organization's innovation culture.
"To remain competitive, today's organizations must continually innovate," said Graeme Armstrong, Executive Committee Member and Corporate Director of Research, Development and Innovation, AkzoNobel. "AkzoNobel's ability to foster innovation is critical to our growth and our worldwide market leadership."
Indeed, AkzoNobel, a global leader in the coatings and specialty chemicals industry, is a leader in Open Innovation, working with NineSigma to foster collaboration among its worldwide business units, and also open access to a network of external innovation partners.
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