How Does Roadmapping Software Help?

Today, many companies are using roadmapping software to streamline the information collection process, providing more accurate and current data to roadmapping participants. Because planning information is often stored in static Word, Excel, and PowerPoint documents on multiple desktops, key strategic planning information often resides in different functional silos. With roadmapping software, this data is maintained in a central database, providing participants with the ability to easily access, share, update, and integrate information throughout the organization.

With roadmapping software, companies are able to optimize visibility into innovation efforts across multiple business units and departments, providing a collective truth about R& D capabilities, projects and resources. Roadmapping software can help companies effectively discipline ad hoc innovation and planning processes, improve communication and collaboration throughout the planning process, and help align cross-functional participants who need to stay on top of information as it dynamically changes. Many companies have achieved significant benefits by implementing roadmapping software, gaining the ability to:

• Align R& D efforts to ensure new product plans reflect corporate strategy
• Achieve a single point of truth about R& D capabilities, projects and resources
• Improve cross-functional collaboration across multiple business units
• Achieve better insight into customer and market needs and requirements
• Visualize the totality of innovation efforts across the enterprise

Product Lifecycle Management (PLM) includes three primary business processes: product planning, product development and product management through the end of its lifecycle.

A core activity for planning that is vital to product success is collaborative roadmapping, an essential component of PLM that allows a company to map their long-term product, market and R& D requirements over time, ensuring that the products they develop meet their business expectations.

The demand for an effective product roadmapping practice is driven by industry consolidation and globalization. Because large enterprises are under intense pressure to anticipate and address the enormous opportunities and risks associated with globalization, each business initiative requires the company to be in excellent control of its worldwide planning activities. Extended operations are therefore required to communicate effectively about a common product plan, and must be able to effectively maximize operational resources of the company and its partners.

Typical collaborative roadmapping software allows stakeholders and management to access and integrate a central planning repository of key planning information, aligning multi-disciplinary operations and enabling an organization to reach its business objectives. These software enables an enterprise to collaboratively create and manage global product planning roadmaps that identify, balance and closely track product plans, R& D, assumptions and risks related to business strategy, changing market requirements, and evolving technology. These roadmapping solutions enables R& D-driven enterprises to dynamically and collaboratively centralize, visualize, and optimize their future product and technology directions, while aligning their overall business strategy. Learn more about how roadmapping software works only at the University Canada West.

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