BAI – Finacle Global Banking Innovation Awards Announces 2012 Winners

Global Banks Honored for Vision and Leadership in Innovation


WASHINGTON, DC–(Marketwire – October 9, 2012) – BAI and Infosys today
bestowed the most innovative banks in the world with the prestigious
2012 BAI – Finacle Global Banking Innovation Awards. Now in its second
year, the global awards program recognizes and supports innovation in
the retail banking industry. This year’s honorees were recognized at a
special ceremony today at BAI Retail Delivery 2012 in Washington, D.C.


The winning financial institutions were chosen among more than 150
entries from over 30 countries for breakthrough innovations that
positively impact banks and their customers. The award winners were
selected by the Innovation Circle Judging Panel, an objective,
third-party board. This distinguished international group is composed of
prominent industry thought-leaders, academics and retail banking
professionals.

OCBC Bank, located in Singapore, earned the
Product and Service Innovation Award for FRANK, a radical approach to
addressing Generation Y’s different style of connecting and engaging
with financial institutions. FRANK branches — or “stores” — are
designed to specifically serve this group of young people aged 18 – 28,
through being conveniently and strategically located in campuses and
malls, the use of understandable language on signage and documentation,
and through a casual atmosphere where popular music is played, and where
interactive touch screens allow customers to shop and apply for their
personalized FRANK debit or credit card. Overall, FRANK allows OCBC Bank
to develop lifetime, personalized relationships with these consumers by
meeting their needs early on.

The award for Channel Innovation
was won by DenizBank, located in Turkey, for introducing the ‘Globally
First Ever’ Banking Platform on Facebook. With full online banking
functionality, the platform enables Facebook users to check their bank
account, see a total picture of assets and liabilities, send money to
anyone, anytime, purchase/enroll in consumer loans and credit cards, and
invite Facebook friends to use the platform, among other capabilities.


Alior Bank, located in Poland, received the Disruptive Innovation in
Banking Award for changing the banking services market in its country.
Alior Sync is a progressive, virtual bank that offers full-service
banking via a virtual platform with a contemporary means of
communication for its target segment, customers between the ages of 20
to 35. The innovative model of operations eases the facilitation of
processes involved in offerings and sales of products and services, such
as a fully online credit process — a first in Poland.

The Most
Innovative Bank of the Year Award was awarded to First National Bank, a
Division of FirstRand Limited, located in South Africa, to honor its
culture of innovation and advancement of retail banking. As part of
their innovative culture, the bank holds an internal competition, called
“Innovators,” that formally encourages and supports the process of
innovation and related competencies. Business units within FNB are
empowered to innovate through leadership buy-in and advocacy.


Debbie Bianucci, President and CEO of BAI, congratulated the award
winners for their creativity and excellence. “These banks serve as a
model of what can be achieved through innovation when it comes to
enhancing the customer experience and transforming our industry. Their
commitment and leadership set new standards for us, and we honor them
for their achievement. We look forward to seeing what future innovations
will come from the finalists and winners here today as well as other
banks around the world.”

Haragopal Mangipudi, Global Head –
Finacle, Infosys, commended the award winners for their ability to drive
consumer engagement through innovation. “Their original thinking is the
key to accelerating growth and increasing customer loyalty. As the
innovation partner for global financial institutions, we applaud their
outstanding efforts.”

To learn more about the 2012 BAI – Finacle
Global Banking Innovation Awards and to submit nominations for the 2013
awards, please visit http://www.baiglobalinnovations.com.

About BAI:


BAI is the financial services industry’s partner for breakthrough
information and intelligence needed to innovate and stay relevant in an
evolving marketplace. For more than 85 years, BAI has focused on
advancing the industry by offering unbiased education and research.
BAI’s offerings are as diverse as the industry, and include premier
events such as BAI Retail Delivery Conference & Expo, groundbreaking
research and performance metrics, professional learning and development
programs, and in-depth editorial coverage through BAI Banking
Strategies. For more information, visit http://www.bai.org

About Infosys:


Infosys partners with global enterprises to drive their innovation-led
growth. That’s why Forbes ranked Infosys 15 among the top 100 most
innovative companies. As a leading provider of next-generation
consulting, technology and outsourcing solutions, Infosys helps clients
in more than 30 countries realize their goals. Visit http://www.infosys.com and see how Infosys (NASDAQ: INFY), with its 150,000+ people, is Building Tomorrow’s Enterprise� today.

Safe Harbor:


Certain statements in this release concerning our future growth
prospects are forward-looking statements, which involve a number of
risks and uncertainties that could cause actual results to differ
materially from those in such forward-looking statements. The risks and
uncertainties relating to these statements include, but are not limited
to, risks and uncertainties regarding fluctuations in earnings,
fluctuations in foreign exchange rates, our ability to manage growth,
intense competition in IT services including those factors which may
affect our cost advantage, wage increases in India, our ability to
attract and retain highly skilled professionals, time and cost overruns
on fixed-price, fixed-time frame contracts, client concentration,
restrictions on immigration, industry segment concentration, our ability
to manage our international operations, reduced demand for technology
in our key focus areas, disruptions in telecommunication networks or
system failures, our ability to successfully complete and integrate
potential acquisitions, liability for damages on our service contracts,
the success of the companies in which Infosys has made strategic
investments, withdrawal or expiration of governmental fiscal incentives,
political instability and regional conflicts, legal restrictions on
raising capital or acquiring companies outside India, and unauthorized
use of our intellectual property and general economic conditions
affecting our industry. Additional risks that could affect our future
operating results are more fully described in our United States
Securities and Exchange Commission filings including our Annual Report
on Form 20-F for the fiscal year ended March 31, 2012 and on Form 6-K
for the quarters ended September 30, 2011, December 31, 2011 and June
30, 2012.These filings are available at http://www.sec.gov.
Infosys may, from time to time, make additional written and oral
forward-looking statements, including statements contained in the
company’s filings with the Securities and Exchange Commission and our
reports to shareholders. The company does not undertake to update any
forward-looking statements that may be made from time to time by or on
behalf of the company.

For further information please contact:

Jeannette Weiland

BAI

Chicago, USA

Phone: +1 312 683-2319

[email protected]

The Americas

Jay Barta

Infosys Ltd.

United States

Phone: +1 510 926-7840

[email protected]

Asia Pacific

Joya Ahluwalia

Infosys Ltd.

India

Phone: +91 80 41565002

[email protected]

Aarkstore Enterprise Crest White Case Study Using Consumer Focused Innovation

Crest 3D White Case Study: Using consumer focused innovation
to form a point of differentiation in a saturated teeth whitening marke

Introduction

An attractive smile – in particular white teeth – has become a
sought-after physical attribute among today’s self-expressive and
appearance-conscious US consumers. However, with today’s teeth whitening
market nearing saturation in Western regions, it has become hard for
industry players to achieve standout appeal. Meaningful innovation has
therefore become a key determinant of market success.

Features and benefits

* Achieve sales growth of teeth whitening products by learning how product innovation can be used to enhance brand credibility.

* Stimulate ideation and invigorate brands by learning from Crest and Oral-B’s recent success in the teeth whitening market.

* Gain a competitive edge in a saturated teeth whitening market by uncovering the core needs of today’s oral care consumers.

Highlights

Company’s research shows that US consumers are more likely to pay
greater attention to teeth and gums than hair or skin. Indeed, over half
(57%) of US consumers deem whitening benefits to be important in their
choice of oral hygiene products, according to Company’s 2010 Consumer
Survey.

Crest and Oral-Bs 3D White Collection – launched in the US in March 2010
-was the most successful non-foods new product launch in 2011,
achieving $151.1m in first-year sales according to SymphonyIRIs 2011 New
Product Pacesetters Report.

The collections market success stems largely from its ability to
accommodate US consumers specific oral care needs, offering choice
simplification, product efficacy, and value for money through
consumer-focused product innovation.

Your key questions answered

* To what extent is consumer demand for white teeth impacting on the US oral care market?

* How have Crest and Oral-B achieved a point of differentiation in the
teeth whitening market, and in doing so gained a competitive advantage?

* What are the key consumer trends shaping purchasing behaviour in the US teeth whitening market?

For More Information

poojaaark

Aarkstore Enterprise

Phone:08149852585

Email:[email protected]

URL:www.aarkstore.com

http://www.aarkstore.com/reports/Crest-3D-White-Case-Study-Using-consumer-focused-innovation-to-form-a-point-of-differentiation-in-a-saturated-teeth-whitening-market-155045.html

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Innovation – It is Essential to Competitiveness

Numerous
forces, including a rapidly expanding marketplace (globalization)
leading to diversity among consumers, increasing competition, decreasing
budgets and personnel are as much at the heart of difficult challenges
confronting technology companies these days as the tight economy. Even
in the best of circumstances, staying competitive is more difficult than
ever. In the worst of situations it can feel down-right desperate.

The
“rise-and-fall” nature of today’s environment is evident all around us.
The secure, stable markets of yesteryear are rocked by disruptive
technological advances and increased competition while small start-ups
rise seemingly unchallenged, to great heights. Why? The conditions that
determine competitive advantages are changing at an unmatched velocity.
Creativity and innovation are the keys to the success of organizations
in bracing up to and rising above these challenges.

After three
decades of dismissing product innovation with claims that it doesn’t
increase the bottom line, many companies have now come to the conclusion
that ongoing product innovation is the
essential factor for organizational success. The former attitude comes
about in no small part because history abounds in examples of
organizations that have expended tremendous amounts of money and effort
on product innovation programs that had little direct value in the
marketplace.

Almost all now appreciate the role of product
innovation in their prosperity, most are still in search of effective
and efficient ways of producing that innovation. Aligning resources and
practices or culture when there is a lack of background in generating
product innovation is a daunting and formidable task.

In fact,
improperly conceived product innovation programs can be almost as
dangerous as a “sit still” policy. In the mid-1970s for example Exxon
correctly identified office automation as a significant opportunity.
They also correctly understood that they shouldn’t attempt the product
development internally and purchased a company in the space. What they
did misjudge was the speed of product innovation in the office
automation arena which was vastly different from their own. The result
was unmitigated failure as they were never able to innovate near the
front edge of the curve.

The truth is, successful product
innovation should match the capabilities of the organization, the needs
of its customers, the realities of available technologies (and their
actual progress) as well as the impact of new emerging technologies,
budget, the market impact and organizational goals.

With
everything going on in every market, the environment and economy, the
circumstances speak volumes to many organizations about the need for
change. The marketplace opportunities currently point toward the need
for breakthrough product innovation over the incremental variety. This
requires imagination, insight and a fundamental organizational structure
that can examine and exploit creativity – one that enhances innovative
efforts to realize both short and long terms goals.

But how? To determine the electronic product innovation strategy best suited to the situation, consider these factors.

With
this information in hand, a productive and flexible innovation process
presents itself and a logical sequence for tasks emerges

An organization can
hold its competitive edge and stay ahead through a focus on and
effective use this golden key – innovation. Innovative companies are
those that keep their eyes & ears open to opportunities presented by
change and that can respond with fresh ideas and correctly targeted
action to keep them growing and profitable.

The Use of Tech Museum of Innovation Discount Coupons

Imagining
life without technology nowadays is tough. The unanimous answer is a
‘no’ considering its use and its prevalence.. A visit to the Tech Museum
of Innovation San Jose in California only reinforces our belief in
technology. The museum is dedicated to technological influence in our
lives- both positive and negative. Hence, this is one of the most
popular attractions in San Jose. However, visiting the museum can be
expensive without the discount coupons.

The
coupons sometimes come with a deal of ‘buy one and obtain one for
free’. You will get the coupons from the Coupon Book of San Jose
Entertainment and also from websites dedicated to providing coupons and
deals to visitors in San Jose. The coupons are provided inside the book
for free. If you flip through the local brochures on tourist guide, then
also you can lay hands on the discount coupons which will reduce the
admission fee by $3.

If you are traveling in a group, then you
will receive a discount of $3 for a group of 10 people. However, you
have to make reservations prior to visiting the place. You will be able
to get inside the museum for a reduced admission fee if you become a
member of the museum. You will also receive 10% discount on your
purchase from the museum store.

Bank
of America cardholders have discounted entry to the Tech Museum.
However, when you get a coupon, check the dates and get a print out if
it is from a website. If you have got it from a booth, keep it with you
and remember the dates.

Some of the most popular exhibits at this
museum are Silicon Valley Innovation Gallery, and Invention at play.
Permanent galleries include Green by Design, Net Planet, and the
Exploration Gallery to name a few.

Caterpillar Equipment Innovation

Caterpillar equipment has always been known to pave the way in
the industry when it comes to great new features and enhancements. In
2009, the demand for a powerful, maneuverable, fuel-efficient dozer was
met by the Caterpillar’s Cat D7E Track-Type Tractor. It’s greater fuel
economy, increased productivity, and lower lifetime service costs when
compared to other tractors in its class makes it a great choice for
anyone looking to purchase a quality used dozer.

Sporting a hybrid system which combines diesel and
electric power, the D7E is capable of moving more material per gallon of
fuel while costing less to service and maintain. The electric drive
system which was built exclusively for track-type tractor applications
was the first of a wide range of new drive technologies Caterpillar was
developing for use in heavy equipment. The D7E was subsequently
recognized with a Clean Air Excellence Award from the U.S. Environmental
Protection Agency for its contribution to improving air quality.

Lasting
twice as long as other tractors, the power train oil system takes 50
percent less oil. The Caterpillar D7E also eliminates extra moving parts
while cutting down on fuel consumption, helping to save on operating
costs considerably. With much fewer moving parts than a typical
mechanical drive system, there are fewer components to potentially break
down or wear out. They were also designed to last up to 50 percent
longer than its conventional drive system counterpart. There’s no
denying the benefits of such a fuel efficient and capable piece of heavy
machinery.

Caterpillar
also claimed that operating a D7E is smoother with the removal of gears
or clutches, and with the ability to make lock-track pivot turns. This
advanced maneuverability system was the first of its kind for its class
of equipment and makes operating the D7E more efficient than ever
before. Caterpillar’s innovation didn’t stop there, however. Despite its
hybrid system, the D7E is no slouch; it was even able to outperform
most other dozers even though it has less horsepower thanks to its
increased drive train efficiency. The D7E’s powerful electrical
generator is driven by a Cat C9.3 ACERT diesel engine rated at 235 net
horsepower.

Caterpillar’s ingenuity has clearly influenced its
competitors over the years by staying at the cutting edge of the
industry, continuing to provide reliable, innovative, and efficient
heavy equipment. The D7E was a great innovation in 2009 and continues to
be a smart choice to consider when looking for used heavy equipment
that can easily hold its own even on heavy duty jobs.

Sustaining Innovation in Your Organization – Tracking Your Success Part 6 of 6

You have determined that your company is ready to start a
growth portfolio, you have included a group of products that you feel
will allow your company to be innovative and have the best chance at
growing profits, and you have been careful to avoid pitfalls such as
rolling out too many products or hanging on to past successes and not
pressing forward.� So what’s next? How do you measure the success of
your innovation portfolio?�

Tracking Your Success

There
are two ways of tracking your success: quantitatively and
qualitatively.� Quantitative measures include numbers of new customers
obtained, growth as a percentage of sales from the new products or the
overall ROI from an individual product.� The qualitative method of
measurement goes deeper than just the numbers.� These measurements track
how well the product was received by the target market, or by the
market as a whole, how it affected the perceptions of your company, or
how much effort went into effectively managing the portfolio.�

In
order to achieve both qualitative and quantitative results, extensive
market research must be conducted after the product is launched and
established in the market.� Depending on when, how, and where your
product was launched, you are going to receive different data from
different regions.� You must determine if certain technologies are more
widely accepted in different regions of the country, during different
times of the year, etc.� Being able to properly analyze this data will
allow your company to improve its growth and success during its next
product launch.� Successfully analyzing your previous product rollouts,
whether huge successes or colossal failures, is an important step
towards keeping innovation moving forward in your company.�

A
big part of innovation is staying on top of market trends, understanding
customer needs and wants, and consistently looking to the future to
grow the company, not relying on past successes to keep the company
afloat.� The best way to remain ahead of the curve when it comes to
market innovation is understanding� how to effectively gauge the success
of past campaigns and applying methods that work to your future growth
portfolio projects.�

If you missed our last article about Delivering on Target or any of our past articles on effectively sustaining innovation in your company, you can find all of them here.

Planet Inspired Smart Cities Equal Investments in Research And Innovation

Smart is easy to say: for cities to become really smart, it takes investments in research and innovation

At the BAIA conference (Business Association Italy
America), attended by Thales Italia and SELEX Elsag, speakers agreed
that all the tools are there to rebuild our cities in smart ways, by
respecting their specific qualities.

The growing use of ICT
technologies in sectors such as transport, energy management, health and
environmental monitoring will lead to the development of a new model of
sustainable city, in which citizens will have access to improved
services, thanks to sensors distributed around the urban environment and
the availability of a significant amount of information about the
function and use of urban infrastructure. An important conference held
at the Chamber of Deputies provided an occasion to probe the timeliest
issues for developing Smart Cities in Italy.

Speakers at the
event organised by BAIA (Business Association Italy America) agreed that
all the tools and “rules of the game” are there, to rebuild cities in
smart ways, while bearing in mind many of them are small and built up
around historic centres, many of which are UNESCO World Heritage Sites.

Businesses
such as Telecom Italia, Cisco, Enel, Carrick-Bend, Thales Italia and
SELEX Elsag presented their solutions for Smart Cities, while Professor
Carlo Maria Medaglia (CATTID coordinator – La Sapienza University of
Rome explained the philosophy of these cities of the future.

“Two
good examples of cutting-edge cities from the standpoint of technology
and services (though on completely different scales) are Amsterdam,
which aims to reduce CO2 emissions, and Paredes, a small city in
Portugal that by 2015 may be the first city in the world to be
completely connected by a network of 100 million sensors, to manage
traffic, lighting, public parks, and innumerable other services”,
Medaglia stated. “To continue in this direction will require national
investments in research and innovation, but that won’t be enough.
Innovation and technology must not be the end but the means for
developing awareness and competitiveness, aiming toward energy savings,
production of energy from renewable sources, sustainable mobility,
activating new services by optimising resources, and involvement and
active participation of citizens”, Professor Medaglia concluded.

Fonte: Planet Inspired

Innovation -The Key to Indias Growth

Has “innovation” become yet another buzzword today, a passing fad… or is it truly the engine of growth?

While
one study published by Businessweek in association with Boston
Consulting Group reveals that 25% of new products launched by
established companies generate enthusiasm amongst users owing to
appropriate utilization of business innovation techniques, another
recent survey revealed that there was contention around the word
“innovation” itself, with 60% of respondents choosing to add their own
definitions. A majority looked at ideas from other domains instead of
brainstorming, prototyping, experimentation or collaboration (as a
technique for finding ideas). Further, most people ranked DaVinci as the
greatest innovator, followed by Edison and Steve Jobs (most didn’t know
who Tesla was)! On a side-note, how many of us can even name five
contemporary Indian scientists?

It is not surprising therefore, to
see many MNCs recently setting up Innovation Centres and Hubs in India,
but not even a single new product idea has come out from them as yet.
Many firms come out with an improvement over an existing product line
and tout that as an “innovation”. Clearly, most seem to be just paying
lip-service or trying to ride this latest bandwagon without the
slightest clue how to really go about the business of innovation.

One
can take a cue from leading global giants such as 3M, Xerox Parc, and
Ideo who are well known for giving us scotch-tape, photocopiers, and
stupendous designs. But not many know that Xerox Parc, for example, have
also come up with innovations such as laser printing, Ethernet, the
modern personal computer, graphical user interface (GUI),
object-oriented programming, ubiquitous computing, amorphous silicon
(a-Si) applications, and advancing very-large-scale-integration (VLSI)
for semiconductors, to name a few.

Some of these innovations had
the power to change the world. How many such examples can we cite coming
out from India or from an Indian company? As a nation, we already have
some of the most talented scientists, academicians, researchers and
engineers along with enough investors, VCs, funding, grants and seed
capital to make it all happen. Yet how many ‘Google’s or ‘Facebook’s
have we launched in the global markets? As the survey mentioned above
revealed, we are happy to “look at ideas from others instead of
brainstorming ourselves” – quite a sorry state of affairs for a country
poised to become the economic powerhouse of this century.

We need
to only look at the history of innovations and new product or technology
launches in US and Europe and correlate that data with the economic
progress of these markets to believe and understand that innovation
really does have the power to bring about a radical change and how it
does so.

However,
all is not lost, as there are a few companies in India such as UNIKEN
(technology innovation solution providers) and Hexolabs (of Mobile
Antakshari fame) who are working in niche areas but growing rapidly and
impacting global markets in an unprecedented way.

Uniken’s
Innovation Centre (located in Pune), is ready with a line of 20-30
innovations of which only two product applications have been launched so
far, and have already become runaway successes! VPSI (Virtual Private
Secure Internet) and TruBank secure internet banking solution are based
on the REL-ID mutual authentication and encryption protocol. This
technology has the potential to be a game-changer in the global BFSI
industry, with most of the leading banks in India having chosen to
deploy the same to protect their customers from cyber fraud and phishing
attacks.

Other innovations by Uniken cut across industry
verticals and have multiple applications – such as Hand Geometry
Biometric Verification System, a micro-AC, solar-powered farming and so
on. And most people would not even have heard about this company that
claims to be the only company in India which is in the “business of
innovation” and has some of the leading experts like Dr. Whitfield
Diffie and Dr. Pat Shankar on its Scientific Advisory Board.

As a
country we have to make a concerted effort to stop being experts at
imitation and start becoming masters of innovation, if we have to
leap-frog an entire generation of technological advances. And our
innovations should focus on developing technology and tools that can
improve the quality of life, make things simpler, better and easier –
and only then would we have created something that has the power to
bring about change.�

The Significance of Innovation Management Software

To stay ahead in any business, it is very important to have
the best innovation management software. Such a software program will
help a company become more stable and dynamic. In today’s struggle to
survive, a company has to be open to all new suggestions and
innovations. This is extremely important in increasing the revenue of
the company and cutting down on all additional costs. Employees have
much to do in this case. They come up with innovative ideas each day and
the innovation management software is the best to monitor them. There
have been companies, which are trying to cut down on cost simply by
reducing the number of employees within the organization. However, most
experts are of the opinion that this is not the right thing to do.

Through innovation management process, you would
come to know that people working within your organization are great
source of improvement. They are the pillars of innovation and they know
how to grow your company. Business lies in the minds of employees and
thus, less number of employees would mean a reduction in total output.
Rather than reducing the number of employees within the organization, it
would be best to utilize them in making the organization more
meaningful. Through the best innovation management process, you can
reduce company’s costs. This will help you save a great amount of
revenue. The management process can also work best in enhancing the
income percentage of the company. Once there is a way to raise the
income, the employer would have no more problems in handling the
required number of employees. New ideas can make a company strong and
competitive. A smart company can well develop with time and make the
best use of the total work force that it has.

When
dealing with innovation management systems, you can adopt several ways.
It is important for the employees to be more cautious. The owner or the
managing staff of a particular organization can go circulate emails to
all the potential employees asking for the required suggestions and
advices. As an employer, you can ask your employees several questions
and through these interactions, you can find solutions to several
organizational issues. Once the employees know that their suggestions
are best accepted and are motivated positively. Once the innovation
management systems are put to practice, you would find how things are
working for the best of your firm. There would be so many ways open
before you for implementation. Now you have to decide which would suit
your company the best. Once an idea works, the one who proposed the plan
should be appraised and rewarded appositely for encouragement. This
would set a great example of motivation among other employees within a
company.

Open Innovation for Mobile and Telecom Brands

The most crucial element that contributes to a brand’s success
and longevity in today’s competitive era is, streamlining the process
of idea management and open innovation. In the recent past, we have seen
numerous creative initiatives taken by the mobile and telecommunication
brands in terms of compelling advertisements, online PR and branding
campaigns and many more. The objective behind all this is to deepen
their audience connect, that would result in better revenue, goodwill,
positive word of mouth publicity and solutions to business concerns.

Leading mobile giant Nokia sought help from the
process of open innovation sometime back. The famous Nokia tune known as
“Grand Valse” is one of the most recognized tunes in the world.
However, the brand wanted to come up with a fresh version of the same.
For this, Nokia launched a global crowd sourcing competition encouraging
people to create a new tune to be included in their 2012 product
portfolio along with the original tune. This competition witnessed the
creative inputs from young composers and musicians who used instruments
like pianos, ukuleles and trash cans to come up with a contemporary
version of the iconic Nokia tune initially launched in 1994. A panel of
judges were assigned to select the best tune that was original,
expressive and was distinctly the Nokia Tune in a remixed format.

Could
anyone have imagined that the latest Nokia Tune that audiences listen
to all over the world has been contributed by one of them? Perhaps a
decade back such an initiative would have been a rare phenomenon. Today
the story is diffrent. Mobile and telecom brands have realized that the
audience at large is their biggest source of ideas. Even an average
person having zero experience on how the telecom sector functions can
come up with a revoluationary thought that can enhance an organization’s
productivity and brand recall value exceptionally.

Leading
telecom brand Vodafone too resorted to crowdsourcing with respect to
innovative uses of wireless technology, The Vodafone Americas Foundation
came up with a Wireless Innovation Project in the form of an open
competition, This was done to increase implementation and promote
innovation associated with technology for an improved world. This
competition welcomed people to share their creative ideas about putting
wireless technology into action. Innovators and entrepreneurs from
uncharted territories took part in this competition contributing their
visionary ideas.

Mobile and telecommunication technology is used
by everyone globally. Hence, the way people experience its benefits they
also witness the loopholes. According to eminent brands of this
industry vertical, it is this “people” whose thoughts and viewpoints
matter in enhancing the product range. Modern day idea management
solutions helps mobile and telecom brands to attain the same and create
an atmosphere of knowledge sharing.