Wyeth Presents New Product Success with Idea Central
PHILADELPHIA, PA (26 Feb, 2004). Wyeth Consumer Healthcare, a division of Wyeth (NYSE:WYE), presented the results of their use of Idea Central, Imaginatik's Idea Management system, at the "Strategic Market Research for Pharmaceuticals" conference in Philadelphia.
The presentation was delivered by Tim Saxon, Senior Director of Global Business Development, and Mark Turrell, CEO of Imaginatik. The discussion focused on the industry challenges facing OTC drug providers, highlighting the difficulties in generating new product concepts in mature markets. Wyeth's products include Advil, Centrum, Alavert and Chap Stick.
Idea Central, the most widely used Idea Management software, was presented as the engine for idea generation and development. The software helped to structure the process, an important requirement for an enterprise-wide project involving over 4,000 people.
According to Tim Saxon, "Everyone has ideas, especially in a global organization. Idea Central allowed us to tap into the great diversity of insight of our employees around the world." Wyeth also stressed the importance of business process and the support from Imaginatik in designing and executing the program.
The results of the first Idea Central project were impressive. Employees submitted almost 250 ideas, exceeding the initial target by 25%, and ten ideas have been selected for further in-depth investigation and development. Future projects are expected in all areas of the business.
If you would like to receive a copy of the presentation, please contact research@imaginatik.com.
About Imaginatik
Imaginatik is the long-time leader in enterprise Idea Management software. Its flagship solution, Idea Central, is designed to elicit ideas and insights from employees and extended enterprise partners, provides a shared collaborative space to develop ideas, and is equipped with sophisticated tools to evaluate and select the top ideas for implementation. Idea Central has won the Basex Excellence Award 2003, and is in use in clients such as Georgia-Pacific, Cadbury Schweppes, W. R. Grace, ChevronTexaco, Bayer AG, and Goodyear Tire & Rubber. Imaginatik's software and consulting services have helped clients discover significant sources of additional revenue, as well as tangible cost savings, process improvements and an increased product pipeline. Imaginatik is also committed to developing strategic solutions in the field of innovation, working with academic institutions such as the London Business School and the Cass School of Business, London, as well as leading practitioners of corporate innovation.
Imaginatik and Idea Central are trademarks of Imaginatik plc.