mortgage CASE sTUDy
INNOVATE WITH INNOVATION MINDS
See how leading enterprises use Innovation Minds to tap the collective intelligence of their employees, customers, partners, and vendors.
We believe that human connection is the heart of innovation. Great innovation happens when people have the right mindset, tools, and process to collaborate effectively. With that in mind, Innovationminds equips enterprise/academic clients with the best crowdsourcing/AI innovation platform and in-person events to move ideas into game-changing solutions. You can check out some of the case studies to learn more about how we helped our clients in various situations, their objectives, actions we helped them take, and the results we have demonstrated together. Reference calls will be made available if you are interested to discuss and learn from these transformation journeys.
Estimated Cost Savings - 42%
Employee Enagagement - 72% in 3 mos
Graduated Ideas - 8
Mortgage Organization (Employees 8k)
A well-established secondary mortgage company informed us that it had embarked on a multimillion strategic project to fuel expansion to meet the needs of real estate builders and professionals. But it was embroiled in challenges and faced plenty of obstacles that were making it difficult for the company to achieve its goals.
To train and coach the company’s contented workforce so that they can be innovative and agile to overcome any challenges. It would go a long way to help them optimize existing and emerging opportunities.
To bring the new product onto the market faster and more efficiently
We singled out each of the challenges the employees were facing and used CDI (Customer-Driven Innovation) to fix them.
We put in place strategies/technology that would enable the company to bring any new product into the market faster and more efficiently.
|The program generated innovative ideas that became the driving force in the implementation of the program.|
The company had experienced workforce yet lacked exposure to innovative processes and technology. This posed a challenge to the initiative and impeded the success of a multimillion strategic project.
|To integrate the client’s customers into the company’s innovative processes because we believed that it would enhance the product portfolio and result in profitable growth. This would then make the project succeed.||
We rolled out innovation and sought out the right technology through the ideation process.
|The process resulted in ideas that reduced the estimated cost by about 42%|
The company lacked in co-innovation and co-creation with its partners.
|Evaluate the existing product portfolio concerning the ever-changing market conditions||
To rely on the framework of the 6-thon events and also utilize the SCRUM framework to help split the entire ‘Open Innovation’ project into mini cycles and sprints that would make it easier for the company to incorporate ideas from its partners and any other players in the market.
|It spiced employees learning and improved eNPS by a big margin.|
Payment & eCommerce (Employees 35k)
An eCommerce company had gone through a reorganization recently, on the other side a fierce competition from disruptors posed an imminent threat to the revenue and baseline. Innovation Minds was approached to help to shake things up that could help to lay the foundation for employees to explore and pursue innovative ideas and opportunities. Client stakeholders and our team were enthusiastic and ready to hit the road running.
|To invest in talent and capacity building that could make innovation part of the company’s DNA. To motivate the employees and enable them to think out of the box||We came up with a pilot innovative program that focused mainly on G&A functions.||After a period of 6 months, eNPS jumped from 18-63 and 6 new MVPs were rolled out which then became the mainstream products.|
The company’s employees cared relatively less about creativity and innovation. They continued going about their business using the runbook.
|We committed our self to help the team identify emerging opportunities that could improve product innovation||
Expanded the innovation program to include the entire client organization.
|It helped the stakeholders inspire the mindset of employees and 79% of the employees engaged in the programs.|
Important projects were slipping and urgent intervention was required.
|Come up with strategies to decide the projects that could be aligned and implemented.||Implemented a platform that was tailored and branded for the client using Strategic Insights using 360 Assessment.||7 ideas have been graduated and implemented over the course of a year. They include Virtual ticketing, Site in a Box, Giving works, Concierge, the Valet, spot bonus via proprietary payment system, and Order ahead.|
7 Ideas - 9 Million Revenue in 2nd Yr
Employee eNPS - 79
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Our holistic innovation management solution seamlessly joins the online and real world. We provide an intuitive crowdsourcing platform and live events to engage employees, partners, and customers.