BlueCallom for Finance
We are helping finance executives to be well prepared for investing, budgeting and controlling innovation engagements.
BlueCallom for Finance is not a product. It is part of us embracing innovation to a broader yet highly relevant innovation audience.
An introduction to innovation for CFOs and Finance Managers
Billions have been invested in trial and experimentation to get to genuine innovation. Yet, the only outcome was more improvements. CFOs and financial controllers must understand what innovation is and how it differs from innovation to judge the investments that will be made going forward. In essence:
Innovation is an investment into the company’s future to stay relevant, keep or grow its competitive advantage and grow as a business. Shareholders appreciate that investment which can be recognized in a company’s market cap and price/earnings ratio.
R&D centers can only focus on improvements with a budget as the cost of doing business. It is not an investment unless sales and marketing for up-and-coming deals are considered an investment too.
Making a difference
You are making a difference by separating innovation budgets and R&D budgets. You are also making a difference when working with the CEO by developing an Innovation Meta Strategy that defines the expectations from innovation, the path to generate innovations, and the pro and cons of acquiring innovative businesses to compensate the inability of being innovative in the long run.
Innovation has no serious cost impact when a team starts. That is changing as soon as the team is successful. It is not a common part of finance education how to calculate scaling a sales organization from 300 Million in revenue to 600 Million. You can make a difference by being prepared for those scenarios.
Innovation Framework Relevancy
Understanding the Innovation Financing part as well as the Innovation Team Composition part is helpful for reviewing innovation proposals or pitches from innovation teams. Understanding the Innovation Market Dynamics part is critical to help planning costs, budgets and financing overall growth of the innovation group.
The BlueCallom Corporate Innovation Framework (BCIF) is an important basis for almost all general innovation understanding. The corresponding education programs include the Innovation Executive Workshops. You will find some more helpful educational material in the Learning Videos section or under white papers.