New Product Development Solution
Powerful software to help organizations profitably deliver the right products to their customers.
In today’s fast paced world, organizations have to quickly and consistently deliver the right products to meet their customers’ needs. That requires collaboration across all business areas and the ability to make the right decisions, based on the right information, at every point in the process.
UMT360’s New Product Development solution
New product development (NPD) is an approach that spans ideation through commercialization and lifecycle management. It is a structured approach to developing new products that optimizes revenue and accelerates the ability to deliver high quality solutions to market. NPD is used extensively in many industry verticals, from manufacturing to pharma, consumer goods to automotive.
Voice of the Customer
UMT360’s solution integrates all variables that contribute to the voice of the customer into one platform, helping ensure you are investing in the right things at the right time, implemented in the right way. We help you validate those decisions by adjusting and adapting your plans in real time as customers shift and evolve their requirements.
Ideation and Demand Management
With 360 Strategic Portfolio Manager, strategy drives everything – your NPD priorities integrate with other organizational strategies to ensure alignment with the big picture, while integrated business casing and cost benefit analysis ensures that targets and metrics are clearly defined, aligning the proposed work with the expected benefits and providing a solid framework for delivery.
Capital Planning & Financial Performance
At UMT360, we make funding the right initiatives simple by directly aligning everything with your strategic priorities. Investments are identified and approved from the top down based on their alignment with those priorities and their ability to contribute as identified in the business case. Investment owners are able to further allocate funds where needed within their accountabilities. For NPD that means that the product is the unit of funding with product owners managing their budgets in order to optimize delivery while retaining financial control and supporting reallocation and fine tuning through adaptive planning.
Stage-Gate Governance Controls
At UMT360, we support the stage-gate approach to new product governance, providing adequate control points throughout the entire process from initial funding through commercialization. Those controls are implemented as part of a lean portfolio management approach, with lean governance providing leaders with the controls they need, without getting in the way of the ability to deliver. By integrating governance directly with funding at the investment layer there is no loss of oversight and also no loss of productivity.
Resource Management and Capacity Planning
UMT360’s resource and capacity planning solution helps you ensure that you have the right people, with the right skills, in the right place, at the right time by giving you a single solution to capture resource demand, capacity, allocations and utilization – both by function or role, and by individual. See the impact on resources of different portfolio models, understand upcoming capacity and capability needs, and manage people more effectively across all initiatives.
Time to Market & Roadmapping
UMT360 gives you powerful roadmapping functionality that allows you to develop and manage a strategic view of your portfolio, both now and through future plans. Helping commercialize new products as quickly as possible without compromising quality, and providing powerful communication tools for all stakeholders. Manage performance against that roadmap through contextualized status reporting, capturing variances and analyzing the implications of those variances across each individual product and the entire portfolio.
Integrated Working Styles
UMT360 supports new product development across each of the tri-modal realities. NPD work is carried out in a number of different structures and by teams operating in different tools. Our solution allows investment owners to decompose their products into projects and epics in parallel, to manage the work of their teams through whatever execution layer tool they choose and to capture data and manage performance from one location against the context of the overall product.
What-if Portfolio Analysis
Today’s new product is tomorrow’s obsolete product. That’s just how things are in today’s fast-moving world. To prepare for that you need to continuously review and refine your long-term product strategies, creating new solutions, maximizing the return on today’s core products, and retiring those that are no longer able to contribute effectively.
UMT360 enables review and refinement of long-term product strategies, creating new solutions, maximizing the return on today’s core products, and retiring those that are no longer able to contribute effectively. Powerful what-if analysis functionality allows you to perform dynamic analysis of different portfolio models, understanding dependencies and making the best decisions for your business. Those decisions can then be implemented quickly and with minimal disruption, proactively managing impacts on financials, resources and dependencies.
Measurement & Realization
360 Portfolio Insight’s top-down approach ties everything back to the strategic priorities. Success criteria and performance metrics are defined in the business case, can be adjusted based on the evolution of the product through the development phase, and then monitored through integrations with finance systems, inclusion of survey scores, etc. This helps validate current performance and contributes to the next wave of development, ensuring your NPD approach is continuously improving.
Strategic Portfolio Management Software
UMT360’s powerful strategic portfolio management software supports every element of NPD, from roadmapping to commercialization. By integrating the software into how you plan, fund and manage your work, your key people are freed up to focus on delivering the products that will delight your customers and drive your profitability.
- Develop the right products, in the right way, to achieve the right outcomes
- Maintain governance and control without impacting productivity
- Plan, adjust and intuitively communicate strategies quickly and easily
- Combine multiple work structures and approaches into a single integrated product development approach
UMT360’s Proven VIC Framework
UMT360’s VIC framework offers a proven approach to help organizations identify and activate the exact capabilities needed to help them more effectively drive business agility. Our experts can quickly assess what’s needed to help you incrementally establish the right foundation, then help you move from tactical execution to become more strategic.
How would you like to start?
Interested in seeing the exciting features of this software in action? Complete this form and submit now to watch a recorded session of a live UMT360 solution demonstration. And if you’d like an even richer experience, request your own customized demo or Free Trial by clicking on the appropriate link above.
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Select The Components That Are Right For You
360 Portfolio Insights
Specifically designed to deliver key capabilities for those focused on orchestration and delivery, helping them ensure that all initiatives, spend and resources are derived from – and continuously align with – strategic priorities.
360 Enterprise Connect
Ensures that those interested in developing a dynamic blueprint of the business have the capabilities they need to more effectively visualize and connect all the disparate silos and assets across the enterprise.