Accolade Release 12.2

RNS Number : 3107N

Sopheon PLC

17 January 2019

 

SOPHEON PLC

("Sopheon" or the "Company")

Sopheon Releases Solution for Successful Execution of Strategy

Accolade 12.2 introduces new levels of transparency, flexibility and governance to connect corporate strategic initiatives with operational execution

Sopheon, the international provider of software, expertise, and best practices for Enterprise Innovation Performance, today released the latest version of its Accolade^® Enterprise Innovation Management (EIM) solution that goes further than ever before to support the successful implementation of corporate strategy.

With the growing number of companies in the midst of a business transformation in response to the digital economy and its dynamic, highly disrupted markets, addressing the low rate of success in realizing strategy has become more critical than ever. Research has shown that only 13% of companies realize their strategy¹, and only 56% of strategic initiatives are considered successful.²

"Companies that do not adopt more interconnected and adaptable operating models will not remain viable in today's new business landscape driven by digital disruption," said Sopheon CEO Andy Michuda. "Most companies have some form of digital transformation or other strategic corporate initiatives underway, but many are failing to execute on these successfully. We see a lack of corporate-wide understanding of, and alignment around, strategic priorities to be a primary cause. This is complicated further by a lack of connection and transparency between the corporate entity and the operational execution teams resulting in poor or incomplete data for strategy decision making."

Sopheon's latest software release strengthens the linkage of strategy and execution. Accolade allows an organization to connect its strategic initiatives with operational execution activities. It does this by giving the company a single version of the truth - to increase strategy realization rates, improve transparency and visibility, reduce the latency time for decision making, and optimize investment and human resources to the most important and strategic activities of the organization:

Richard Herd, Director of Program Management Tools, Strategy & Deployment at longstanding Sopheon customer, Honeywell, has said of the new release: "Honeywell is excited by Accolade's advances in support of enterprise adaptability, segmentation and product execution. The enhancements in Accolade 12.2 will help us navigate change more effectively as an organization, and streamline our daily work on a team and personal level so we can move the business forward more quickly."

1 Daniel F. Prosser, 2015

2 The Economist

For further information contact:

Barry Mence (Chairman) Arif Karimjee (CFO)	Sopheon plc	+ 44 (0) 1276 919 560
Carl Holmes/Giles Rolls (Corporate Finance) Alice Lane (ECM)	finnCap Ltd	+ 44 (0) 20 7220 0500

About Sopheon. Sopheon (LSE: SPE) partners with customers to provide complete enterprise innovation management solutions including software, expertise, and best practices, that enable them to achieve exceptional long-term revenue growth and profitability. Sopheon's Accolade solution provides unique, fully-integrated coverage for the entire innovation management and new product development lifecycle, including strategic innovation planning, roadmapping, idea and concept development, process and project management, portfolio management and resource planning. Sopheon's solutions have been implemented by over 250 customers with over 60,000 users in over 50 countries. Sopheon is listed on AIM, operated by the London Stock Exchange. For more information, please visit www.sopheon.com.

 

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