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Science-based companies pursue OI for competitive edge

May 2012

Are your sales efforts in tune with OI (Open Innovation)?

Companies wanting to sell their IT and Consulting skills into science-based companies (pharmaceuticals, medical technology, chemicals and others) may have to consider more strategic approaches than in other markets, according to researchers at PA Consulting Group.

To provide a competitive edge, companies in this sector are turning to “Open Innovation” (broadly defined as “how a company works with partners, agencies and other companies outside their organisation to foster innovation”) as a strategic platform to access new technologies, know how, intellectual property and ideas from external sources such as other companies, universities, inventors and innovation “brokers”.

All this makes it more important, rather than less, for IT and consulting firms to ‘test the temperature’ among potential purchasers in these sectors before embarking on a sales approach.

INCo managing director Neil Ritchie describes his company’s work in pre-qualifying and establishing corporate background as ‘the essential precursor to sales’.

INCo’s process of staying continuously in touch with companies who may be potential purchasers of IT systems, components, software, services and consulting gives potential sellers important insights into the current thinking of major purchasers and gives INCo clients an important advantage when making proposals for future work.

INCo works with a number of leading consulting and technology firms to improve their sales and forecasting abilities, even forming an out-sourced sales department for some.

More on PA's analysis here: www.paconsulting.com/technology-and-innovation/open-innovation-leading-in-a-collaborative-world/open-innovation-report/