Innovation Lab is a customer-centric innovation center initiated by InfoGlobalTech. The main idea behind this center is to collaborate with our clients and customers at an unparalleled level. Innovation Lab is a superset center of excellence. Through the innovation lab, we want to build a superset center of excellence in every field including RPA, Data Engineering, and Data Automation.
It is a place to cultivate and test new ideas, detached from the demands and pressure of the business serving. This center gives our employees unprecedented exposure to new approaches, tools, and technologies. This innovation hub also acts as a creative space for all our teams by providing them enough space, people, and tools they need to brainstorm new ideas and successfully implement them. The innovation lab is creating a dedicated space where the sole focus will be to enhance your product innovations.
In addition, Innovation Lab is also a body that will focus on leadership, best practices, research, support, training of trainers and skill training for specific sectors. Innovation Lab is ‘a place where the highest standards are maintained.’
Mission and Vision of the Innovation Lab:
An IGT flagship, the Innovation Lab has been established with an elaborate vision of offering outstanding customer experience in terms of project management and creating industry experts through its center of excellence.
Our mission is to create world-class environments for collaboration and provide hassle-free project delivery.
Goals of the Innovation Lab:
We have built the Innovation Lab with an ambitious vision of deconstructing the intricate process of project management and delivery with the help of industry experts. Innovation Lab looks forward to:
- Create an environment for collaboration
- Bring new experiences and innovative concepts for beneficial resolution of problems
- Identify and develop expertise to meet changing customer needs
- Pre-establish core components such as infrastructure, tools, and agile methodologies
- Establish robust business value propositions
- Experienced leadership and innovation champions drive collaboration to meet expected results.
The IGT Innovation Center Model
The Innovation Lab is the private sphere of ideas, where some of the most talented people in the company can test, exchange, and collaborate on projects.
The model of the Innovation Center will be built in coordination with our clients, partners, and our in-house practitioners. The team will be a brilliant amalgamation of software architects, business experts, an integrated tech team, lab teams, and industry experts. Data services, solution platforms, and infra services will also be part of the Innovation Lab infrastructure.
Key Differentiators of the IGT Innovation Lab:
- The customer will have a lower risk on projects.
- Their projects will be completed cost-efficient and within the deadline
- The customer will get a higher realization of business case benefits
- The client will get a training launchpad for their business
- We will ensure higher confidence and adoption of new technologies
- Increased quality of solution and product delivery
- Reduced number of Agile Sprints- First Time Right Build (Agile is a method of software development and project management that emphasizes teams delivering work in small, regular increments. It is a subset of Agile and a framework dedicated to developing, providing, and sustaining complex products, especially in the field of software development. The sprint method makes development projects more manageable allowing teams to produce high-quality work faster and with greater frequency. Sprints also give teams more flexibility to adapt to changes.)
- Faster knowledge transfer for new services and products
An Insight into the Engagement Model of Innovation Lab
The Innovation Lab contains state-of-the-art tools, processes, techniques, equipment, the latest design technology, and the efficient resources to test and produce new products. Based on these factors we have designed the engagement model of the Innovation Lab.
The engagement model of the Innovation Lab includes the following steps:
- Internal Research and Development:
Internal Research and Development are crucial for any business and its sustainability. Intensive research is indispensable for a durable and robust end-product. The success and ROI of an organization depend mostly upon the Research and Development process of the organization. The Development Innovation Lab uses the tools of economics to develop innovations with the potential to benefit millions of people and businesses around the world. The IRAD (Internal Research and Development) department of Innovation Lab is designed to augment the strategic capabilities of interest to the center and technology projects for targeted opportunities.
- Product Validation for solutions:
Product validation refers to the process that involves examining the effects, ensuring that each step towards its structure meets the expectations of the stakeholders. Product validation does not make sure of the accuracy of the data, though. The primary focal point of the product validation process is the quality of the products.
The necessity of the product validation process lies in the need to establish and assess the relativity between the input and the output generated. The main purpose of this process is to ensure the result is up to the mark.
We, at Innovation Lab, follow four stages of the product validation process:
- Validate the problem:
Product validation is one of the essential aspects of a successful business strategy. It helps in figuring out the risks and challenges of the business and validating them and then finding ways to solve them.
- Learn about your target market
Before going ahead with the product idea, we study your customer base and their user motivations. If you’re struggling to find potential customers to validate the problem, it might not be able to keep your product viable in the long run.
- Validate your solution
Your product must solve your target customer’s problems successfully to stay desirable. We assess the benefits and solutions your product would provide to your customer base.
- Validate the market’s willingness to pay
Once you validate that you have a solution to a large market’s problem, you need to know whether they are willing to pay for it at a price that makes the investment worthwhile. This is another crucial step in product development.
- New Product Assessment:
A product assessment is a process of reviewing your existing operations. It also helps to assess your goals and needs to streamline the product mix. This assessment helps in finding the perfect balance between your brand identity, cost savings, and storage.
A product assessment also helps you to define the ideal model for the new product development, the main opportunities for improvement, and the loopholes in the process.
An external perspective benefits an organization while designing new products or even re-assessing old ones. Our Innovation Lab will help clients collect new information on consumer preferences while synthesizing existing consumer feedback to evaluate product offerings. Our teams of resourceful specialists will accumulate a wide array of opinions from potential consumers and deliver actionable recommendations on how to design new products that will attract a larger audience.
- Product Comparisons:
Product comparison is a simple method to compare product features or the product’s capabilities across multiple products. A product comparison allows you to check if your product is on par and has epoch-making features that will distinguish you from your competitors.
Product comparisons in Innovation Lab refer to the development of software or services with characteristics or intentions of usages that differ significantly from previous products made by the company. Developing a new product will be effective as far as these Product comparisons are properly adapted.
- Functionality assessment:
There are four functional assessment components: physical, psychological, cognitive, and social ability to carry on the everyday activities of life. At Innovation Lab, the functional analysis involves an experimental test of the different possible functions for the client’s problem behaviour. The three main categories of functional assessment approach include indirect (questionaries, rating scales), observational, and experimental functional analysis.
- Partner Research and Development:
Partner Research and Development is another element of the Innovation Lab engagement model that enhances the process of project delivery. In this step, the R&D department facilitates the collaboration and merging of complementary skills, and experiences from the partner along with the risk and cost-sharing.
- Integrated Component Validation:
Integrating components enable the conceptual and structural design layers to coalesce into a comprehensive, unified structural design solution. Integrating components should be recognizable as conceptual mechanisms of which the purpose is to provide an assembly packaging apparatus.
- Legacy Transformation Assessment:
Legacy modernization is a popular approach that helps companies to transform and adapt the IT infrastructure and align them to the current and future business needs and build a compliant foundation for future innovation.
Legacy Transformation is a crucial initiative for all businesses. It has been vital for companies to adopt and adapt to the process of restructuring and modernizing their operational systems to ensure continuous ROI.
The legacy transformation assessment is an arduous task that involves many risks and challenges such as identifying current and future business needs, defining the approach that defines the probability of reuse of the current structures and services, and replacing or refactoring the construct of services. At IGT Innovation Lab, our experts will help you define, identify, and mitigate the risks and establish a time-appropriate business infrastructure.
- Process Validation and Automation Designs:
Process validation ensures whether your process effectively controls the quality of your end-product consistently. A validation protocol includes the requirements for test procedures and provision for data collection. Process validation involves a series of activities taking place over the lifecycle of the product and process. Process validation means establishing objective evidence that a process consistently produces a result or product that meets its predetermined specifications.
Process validation confirms whether your process effectively controls the quality of your final product. It shows that your process consistently produces a quality product, batch to batch and product to product. A validation protocol, therefore, must include the requirements for test procedures and provision for data collection. Process validation involves a series of activities taking place over the lifecycle of the product and process. Process validation means establishing objective evidence that a process consistently produces a result or product that meets its predetermined specifications.
- Proof of Concepts:
The path to launching a new software product successfully starts with a proof of concept (POC). It’s a software development testing methodology that helps businesses make rational decisions about creating a new software product and define its future.
A proof of concept describes an idea in its entirety. It narrates the potential viability of a suggestion, including its proposed functionality, practicality, features, and general design. It is a presentation that project teams need to make before creating the final version of a product and launching it for public use and commercialization. POCs may differ across industries. For instance, companies that specialize in software development must have a proof of concept that proves the feasibility of their idea from a technological perspective.
- Competitive Value Assessment:
Competitive assessments, also referred to as competitive analysis, are ways to understand your competition within the market. Competitive assessments are designed to find answers about the current and future state of the market.
Competitive Value is the keystone of a company’s revenues and profits. The identification and implementation of a company’s competitive value assets are the results of company management, individual contributors, and other stakeholders performing tasks prescribed.
- New Technology Assessment:
Technology Assessment is the study and evaluation of new technologies. In this step, we forecast and prepare for the upcoming technological advancements and their repercussions on society and the specific market, and then make decisions based on the estimation. Technical assessment for new technology involves looking at the application, role, and appropriateness of the new technology and understanding the associated best practices.
Lab Engagement Process:
At IGT Innovation Lab, we have a unique lab engagement process. The process helps our clients in the analysis, development, and execution of successful digital strategies and helps them reinvent their business models. We assess the innovation potential of a company, implement sustainable product development processes, and work with organizations to drive their digital transformation.
Here’s a step-by-step guide to the process:
Step 1: Identification of the solution needed and required outcome
Step 2: Lab program design
Step 3: Partner and Team Selection
Step 4: Planning, building, and taking approval
Step 5: Business Case and cost analysis
Step 6: Lab build
Step 7: Innovation Sprints and Assessments
Step 8: Sign-off
Join us in the Journey!
We are looking forward to making this initiative a massive step forward in terms of the extension of our global portfolio and offering outstanding value to our customers worldwide. If you want any help in your projects, or in any stages of the project lifecycle, we would like to collaborate with you. You can reach us at https://infoglobaltech.com/reach-out/ or email us at: [email protected]