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The incredible speed at which things move in the digital era makes innovation imperative. Ignoring this fact means risking being left behind. On this basis, PwC charts its innovation benchmark for 2018 and highlights the main resources that large organizations can mobilize to drive their innovation forward.

Opening up and collaborating with other stakeholders, especially with your clients, as one more part of the growing strategy of customer centricity, are highlighted as key factors (see graphic).

pwc-innovation-benchmarks

Large companies no longer walk the path of innovation alone, because in this race–a long race, that requires administrating and investing efforts–they surround themselves with partners.

These models–that PwC defines as inclusive–place importance on stakeholders like employees, clients, partners, providers… and rely on disciplines like open innovation (61%), design thinking (59%) or co-creation with clients (55%).

By applying these techniques, they tear down barriers within their organization to gain access to an ecosystem of ideas, talent and technology. And in that ecosystem, clients play a leading role.

So much so, that 54% of companies believe that involving clients significantly helps them define innovation from an early stage of the idea-generation process. And 35% of them define clients as their major innovation partner.

Technology enables their inclusion as external agents for innovation. Particularly, as highlighted by PwC, thanks to the existence of channels that collect their ideas and concerns in real time.

Thus, they add new points of view, proposals and diversity to their traditional viewpoints.

But they also gain agility in their operations, and can use their clients to assess the risk of launching a given product in the market.

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