INTRASOFT International Innovation
Innovation and disruptive entrepreneurship have become an explosive global movement. Companies worldwide either succeed in adapting by innovating or are faced with increased possibility of extinction.
INTRASOFT International has decided to embrace this global movement and use Entrepreneurship and Innovation as the disruptive change mechanisms for differentiating our existing offering and creating sustainable new markets.
Our initiatives exceed the usual Corporate Social Responsibility or Corporate branding activities. We pursue innovation for increasing our business and the value that our offering provides to our customer base. We do this by actively participating in relevant to our business and vertical Research Innovation Projects and in parallel by fostering Business Innovation and Intrapreneurship.
Business Innovation and Intrapreneurship
- Entrepreneurship is the process of designing, launching and running a new business (which is often initially a small business).
- The capacity and willingness to develop, organize and manage a business venture along with any of its risks in order to make a profit.
- The act of behaving like an entrepreneur while working within a large organization.
- The practice of a corporate management style
that integrates risk-taking
and innovation approaches, as well as the reward and motivational
techniques, that are more traditionally thought of as being the
province of entrepreneurship.
- Our mandate:
- Use Innovation and Intrapreneurship as the strategic enabler for sustainable business growth
- Extend company’s portfolio both through organic growth and M&As
- Our Strategic Objectives:
- Strengthen routine innovation of existing core verticals by introducing new technologies.
- Capitalize on existing technical and business expertise and expand into adjacent areas
- Achieve radical and disruptive innovation through Joint Ventures, Mergers and Acquisitions
- the Process:
In Intrasoft we approach Innovation primarily from the Technological point of view. We are filtering trends and hypes to identify the Emerging Key Enabling Technologies affecting our markets and activities.
The Innovation & Intrapreneurship Process
- Emerging & Key Enabling Technologies
Emerging technologies are the ones that are still well before their “plateau of productivity” state. Key Enabling Technologies are the ones that act as catalysts, providing disrupting innovation in processes, products or services. Ideally, they are Knowledge intensive, multidisciplinary & pervasive, cutting across many application areas.
Cooperating with RID we are continuously scanning the industry and academia for such trends compatible with our business. Once identified we have a twofold mission:
- To infiltrate our existing products and services with these technologies aiming to differentiate from the competition and more importantly to increase our value add for our customers.
- To scan the market for identifying 3rd parties (research groups, start-ups, scale-ups, etc)and cooperation, staying open and evaluating all possible models (commercial cooperation, JV, investment, M&As)
- Key Enabling Technology Incubation Groups
We execute the above by forming agile matrix-based teams that penetrate both horizontally and vertically the full extent of our organization. This way we directly benefit from our exiting Business knowledge and expertise as well have ambassadors which greatly assist in the innovation adoption once materialized to something concrete.
These, matrix-based, teams (“Key Enabling Technology Incubation Groups”) are responsible to foster the development of relevant competences across the organization and to identify application areas and applicable commercialization models.
Such groups are now in operation for:
- Innovation Sprints
This is not a theoretical exercise. On the contrary all the engagement is revolving around practical applications and interaction with the market and some of our key strategic customers. This is achieved by triggering fast and frequent Innovation sprints which are based on ideas stemming through the brainstorming sessions of the Key Enabling Technology Incubation Groups and most importantly by frequent interactions with our customer base. The Innovation sprints are executed by multidisciplinary teams comprising of internal developers and business owners, Customers, and 3rd parties (start ups etc) who contribute key relevant expertise.
The Innovation sprint is the key process enabling new Innovative Product or Service development and / or initiating a strategic Joint Venture, Merger or Acquisition. This is a process that has already led to several strategic initiatives with the key ones being:
- Wemetrix - an investment to a Financial analytics start-up dealing with Econometrical SaaS applications.
- Incelligent - an Investment and Strategic co-development agreement to an innovative start-up for Machine learning and Artificial Intelligence.
- iDACC – The formation of the internal innovative Data Analytics Competence center which enables our whole organization for Big Data Engineering, Descriptive and Diagnostic analytics Services.
- Innovation Triggers
The above described structured approach is not the single path for stirring Innovation and Intrapreneurship from within the organization. On the contrary, there are numerus initiatives aiming to inspire new business ideas and trigger our employees generate innovation and contribute to it with some key ones being:
- Way Forward – Focus
Our strategy is to ride and harness the digitalization vortex.
We recognize that digitalization is acting both as an enabler and a disruptor. Digitization and connectivity are accelerating technological innovation and sky-rocketing adoption of new services as well as greatly disrupt existing business models. Our target is to control the key digitalization technologies and enable our customers adapt and differentiate rather than being disrupted and.
Technologically wise we focus on:
- Digital customer channels
- Data Analytics & AI
- eMoney / Tokens / Crypto
Industry wise we focus on:
- Banking & Financials / Fintech
- Regtech / Insurtech