Posts Tagged ‘Innovation’
Outsourced Re-inventing
October 4th, 2010
Innovation Group Names Mark Leonard Chief Marketing Officer, Innovation Group Business Process Services, U.S.
September 28th, 2010Innovation Group plc , a global provider of enterprise software and business process outsourcing solutions to the global insurance, financial services, motor and fleet industries, today announced that Mark Leonard has been named Chief Marketing Officer (CMO) of Innovation Group’s Business Process Services, U.S.. Leonard’s appointment continues Innovation Group’s focus on the growth of its U.S. market share.
After joining First Notice Systems in 2004, Leonard became a key member of the Innovation Group management team after the company acquired First Notice Systems in 2006. During his tenure, Leonard has successfully directed the Strategic Account Management team across all product lines, including: Innovation First Notice, Innovation Auto, and Innovation Property. And, he has personally been responsible for managing and nurturing key account relationships.
In his new position as CMO, Leonard will report directly to CEO Bill Langley and will lead the organization’s business process outsourcing (BPO) focused corporate and product marketing efforts. In addition to looking to Leonard for his marketing expertise, Innovation Group will continue to leverage Leonard’s strong client relationships and sales skills to assist in the ongoing sales efforts.
“The entire Innovation Group team joins me in congratulating Mark on this well deserved appointment,” commented Langley. “He has proven to be an invaluable member of the management team and is well versed in both the insurance industry and related BPO services. Now, as a member of the executive team, we look forward to Mark helping us to expand our market footprint to make Innovation Group an insurance industry household name synonymous with high quality and high value BPO services.”
Prior to his six years with Innovation Group and First Notice Systems, Leonard spent more than 15 years in a variety of sales and account management executive, consulting, and business development positions with Fleet Bank, Digitas, The Faneuil Group and Bertelsmann. In addition to his professional experience, Leonard has earned Bachelors and Masters degrees in Business from Trinity College in Dublin, as well as a Law degree from Queen’s University Belfast.
Source:http://www.marketwatch.com/story/innovation-group-names-mark-leonard-chief-marketing-officer-innovation-group-business-process-services-us-2010-09-28?reflink=MW_news_stmp
Innovation group sees outsourcing up, software down
August 19th, 2010Insurance sector outsourcing and technology provider Innovation Group says its software revenues remain well below 2009 levels but outsourcing revenue is up 4%.
In its IMS for the period from April 1, the group said results reflected an emerging transition to more predictable, long-term revenue and profit.
New business wins in both H1 and the period under review increased outsourcing revenue by 4% year-on-year, despite challenging economic conditions and claims volumes remaining below 2008 and 2009 levels.
Software revenues remained well below 2009 levels, with potential clients in the insurance market increasingly considering transactional pricing of software as a service (SaaS).
The company said this trend was in line with its strategy to drive higher-quality recurring revenue but the impact would continue to affect one-off licence revenue this year.
A bad debt provision of £0.75m has been made following withdrawal of funding from a Japanese software client by a European insurer towards the end of 2009.
Source:-http://uk.ibtimes.com/articles/20100818/innovation-group-sees-outsourcing-up-software-down.htm
Wipro wins Nasscom Award for process innovation
February 12th, 2010Wipro Technologies has been awarded the Nasscom IT Innovation award in the Process Innovation category for the year 2009 at the NASSCOM India Leadership Forum 2010. The firm has received this award for its innovative application services model—Cigma (Centre for Integrated Global Management of Applications).
Cigma enables customers to manage IT outsourcing engagements through business-linked KPI’s rather than traditional IT SLA’s.
The Nasscom Innovation awards are given to companies to showcase their innovation and to encourage innovative practices across the IT-ITES industry. The award recognizes innovation in a company’s business processes, models, inputs, go-to-market strategies and delivery models to realize significant business value.
N S Bala, Senior VP, Manufacturing Business Unit, Wipro (a company that incubated Cigma) said, “Cigma has contributed significantly in enhancing the depth of engagement with our customers as well as positioning us higher in the value chain. Cigma enables an integrated business process view of multiple services, thereby enabling better business outcomes.”
Congratulating Wipro, Ameet Nivsarkar, VP, Nasscom said, “Innovation will be the biggest driver and differentiator in the coming years. The Indian IT-BPO industry has maintained an edge by constantly innovating—not only with new solutions, but also new processes and business models. Wipro’s platform is the perfect example where technology has contributed significantly in streamlining an internal process that will provide tremendous value to clients.”
Source:http://informationweek.in/Software/10-02-12/Wipro_wins_Nasscom_Award_for_Process_Innovation.aspx
Accenture Opens New Global Innovation Center in Detroit for the Automotive Industry
January 15th, 2010(Business Wire) Accenture (NYSE: ACN) today announced the expansion of its global network of industry solution centers with the opening of the Accenture Innovation Center for Automotive and Industrial Manufacturing in Detroit, strengthening the consulting and system integration capabilities it provides to clients worldwide.
The innovation center in Detroit offers consulting, system integration and outsourcing services in sales and marketing, aftersales services including warranty and parts logistics, customer relationship management (CRM), talent management and finance. It also offers industry workshops and demonstrations for clients, promoting active dialogue on opportunities that impact the automotive and industrial manufacturing industries.
“The ability to serve the needs of our clients using a global capability is a key strength of Accenture,” said Luca Mentuccia, Accenture’s global managing director for its automotive industry group. “Our automotive centers enable us to mobilize the right people with the right skills and capabilities to deliver solutions for our clients in a cost-effective and efficient manner, serving them wherever their location.”
This center in Detroit brings the total number of centers in the Accenture’s global Automotive Solution Center Network to five, which also includes Hyderabad, India; Turin, Italy; Madrid, Spain; and Shanghai, China. Currently within the network, Accenture has more than 2,600 personnel delivering tangible value-based solutions to clients at a manageable cost.
“Our new facility in Detroit is Accenture’s continued commitment to invest in the resurgence of the U.S. auto industry and the growing industrial manufacturing industry,” said James A. Robbins, Accenture’s North American managing director for its automotive and industrial equipment group. “We are looking forward to this innovation center delivering the same results for our clients that we have achieved at our other solution centers around the world.”
Source:http://www.earthtimes.org/articles/show/accenture-opens-new-global-innovation,1120641.shtml
Innovation to raise £21m in placing
December 5th, 2009Innovation Group, whose software outsources insurance claims, reported full-year results ahead of expectations and unveiled a fundraising to pay down debt.
Revenue for the year to September 30 rose from £140m to £156m while underlying profits increased from £10.1m to £11.3m. That compared with consensus estimates of £152m and £11m respectively.
Innovation said the proceeds of the fundraising would go to paying down £5m of a £11m black economic empowerment loan relating to South Africa, as well as the acquisition of specialist technology to win new business.
It also unveiled plans to raise £21m via a placing and open offer at 10p a share. The shares closed down 1¼p at 10½p yesterday.
“Innovation’s financial position will be materially improved,” said Andy Roberts, who took over as executive chairman pending the appointment of a chief executive to replace Hassan Sadiq, who left a month ago .
The cash will also be used to roll out its new technology platform, known as Enterprise, which it hopes will allow it to better integrate its business units and to process larger and an increasing numbers of outsourcing contracts.
Statutory pre-tax losses widened from £3.8m to £19.8m after taking an impairment charge of £21.5m, largely relating to a writedown in value at its US outsourcing business. Losses per share widened from 1.06p to 3.19p.
The fundraising is the second in seven months: Innovation raised £5m in May to satisfy a treasury requirement from Barclays.
Ian Spence, an analyst at IS Research, called the placing “exactly the right move” for Innovation.
“There is an emerging consensus view that uncertainty around the election will make the first half of next year a tough environment to raise new money so the timing looks good.”
Source : http://www.ft.com/cms/s/0/d33ef5a2-e13e-11de-af7a-00144feab49a.html
