West Monroe New Product Development

The West Monroe New Product Development is a solution designed to assist high-tech and software companies in developing products and offerings. According to the vendor, this product aims to drive growth, profitability, and a competitive edge for businesses of all sizes. It is utilized by various professionals and industries, including technology professionals, product managers, business analysts, marketing professionals, software development teams, high-tech industry, software industry, private equity investors, and the financial services industry.

Key Features

Strategic Direction Alignment: According to the vendor, this feature works with leadership and functional teams to build consensus around the strategic direction, objectives, and timing for a new product or offering, ensuring alignment and accelerating progress.

Comprehensive Market Insight: The vendor claims that this feature produces insights about the market and current capabilities by leveraging data, deep industry knowledge, and technology expertise to make informed decisions and recommendations.

Winning Strategy Development: The vendor states that this feature develops a strategy for targeted markets that reflects competitive strengths, considering portfolio, pricing, packaging, and prioritizing winning capabilities and feature needs for target segments and personas.

Holistic Considerations: According to the vendor, this feature considers operating model implications, go-to-market strategy, service delivery, agile product development, organization design, and identifies necessary systems to support new offerings, processes, and people.

Product Development and Delivery: The vendor claims that this feature defines product/offering requirements based on market, competitive, and customer inputs, prototypes and conducts market testing using iterative sprints, designs and builds a minimum viable product (MVP), and integrates the new offering(s) into the existing portfolio.

Generative AI Accelerator: According to the vendor, this feature assists businesses in finding the right balance of risk and innovation in testing generative AI, providing guidance on leveraging generative AI to drive business growth and efficiency.

Cost Optimization for High-Tech & Software: The vendor states that this feature helps high-tech and software companies shift from a growth-over-profitability mindset to a focus on efficient, profitable growth, identifying levers to optimize costs and improve financial performance.

Strategic Workforce Optimization with Work 4D: According to the vendor, this feature offers a way to solve talent challenges while reducing costs by up to 40%, utilizing the Work 4D approach to optimize workforce planning, talent acquisition, development, and retention.

Data-Powered Revenue Operations: The vendor claims that this feature builds revenue operations for the fast-moving XaaS world, providing a competitive edge through data-driven insights that fuel real market advantages.

Software Platform Consolidation & Strategy: According to the vendor, this feature helps high-tech and software companies develop a winning platform strategy, accelerating consolidation to deliver growth goals.