Transformation and innovation are big buzzwords in today's corporate culture. According to a 2020 Garnter report, 60% of businesses mention that digital transformation is a topic of conversation in almost every board meeting. Where you focus your innovation efforts can be just as impactful as your methods of implementation. The end goal is the same: to implement changes that have a positive impact both within your company and in the industry as a whole. So, in this C-Suite viewpoint, we ask you to share your views on how specifically YOUR organization deals with transformation and innovation.

Have you documented your innovation goals along with a dedicated annual budget? Where and how does the process start... and what are the critical success factors that turn great "ideas" into actual implementation?

IDeaS - A SAS Company

This viewpoint is co-created with IDeaS a SAS company
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Klaus  Kohlmayr
Klaus Kohlmayr
Chief Evangelist and Development Officer, IDeaS

It is true that innovation requires focus, resources and ultimately funding. At IDeaS we have a multi-pronged approach to innovation: 1) A constant dialog with our clients about their evolving needs and how IDeaS could provide more value to them 2) Continuous research and conversations about evolving end consumer expectations, technology transformation and their implications on hospitality at large and particularly the commercial function. This involves deep interaction with C-Level executives at hotel companies, consultants, startups, and the broader tech ecosystem. 3) Feeding information from the two areas above forms themes about potential innovation opportunities, which are then translated into growth opportunity business cases. 4) An annual innovation budget funds business cases which are selected to bring those to MVP 5) Regular investment reviews provide a feedback loop to evaluate progress and suggest course corrections where required.

The critical success factors are to always have your ears to the ground, you never know where innovation opportunities arise and then have a structured process to prioritize and move these opportunities to a positive outcome. 

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