Product and Service Innovation consulting services
The EY team’s approach to Product and Service Innovation helps you accelerate the innovation of your product or service portfolio, and create new customer value propositions that help you move toward a sustainable future.
Your business challenge
In this rapidly changing world, companies need to reimagine growth both inside and outside their traditional capabilities. The need to develop more innovative business models, solutions and collaborations to maximize present and future talent, and markets and customers have forced organizations to ask the following questions:
- Is our product/service portfolio right for our customers’ needs today and in the future?
- How can we innovate our offerings to remain competitive?
- How can we combine our goals with the goals of a sustainable future?
- How can we resolve our current product or service portfolio that is underdelivering?
- How can we structure and organize for innovation?
- How can we decrease risk across our portfolio developments and innovation process?
EY teams can help you build an integrated approach across design, data and engineering with risk and business experts to innovate desirable, viable products and services toward a sustainable future.
- Robust, outside-in and inside-out assessment of your organization portfolio, both now and at future time horizons
- Commercial and strategic innovation activities to drive measurable growth and deliver efficiencies
- Innovative business models, solutions and collaborations to maximize growth in a sustainable way
Solution features & functionality
EY teams can help improve your organization’s method to innovation by balancing bold future-back thinking with techniques that reduce risk through the new product development lifecycle. The Product and Service Innovation delivery approach is spread across three phases:
- Find the unknown
- Identify and exploit priority areas for investment and growth
- Gather knowledge, perspectives and insights from business, stakeholders, customers and the market
- Research and analyze to better understand challenges, needs and behavior, and explore growth opportunities to inform journeys and enable strategic prototyping
- Make the case
- Ideate and co-create personas, concepts, value proposition, customer journeys and CX vision
- Develop a “jobs to be done” framework with a prioritized development backlog and roadmap
- Build a product launch and implementation plan
- Build the new
The EY team’s approach to Product and Service Innovation can help you develop an actionable strategy to grow your business and design products and services that satisfy new emerging needs and address the challenges for a sustainable future.