Launching a Global Culture of Innovation
March 3, 2009: 6:00 PM - 9:00 PM
Equifax is a large, global organization that both benefits, and sometimes suffers, from a 110 year legacy. In early 2007, we asked ourselves: “What can we do to launch innovation as one team?” in order to scale up our new product efforts. New Product Innovation (NPI) is the process we implemented to shepherd new initiatives through the product development lifecycle to achieve strategic top line growth. Our goal is to drive an incremental Vitality Index of 10% by 2010 measured by revenue derived from products launched in the previous three years. To achieve this goal we have had to look at all pockets of the organization across all countries in which we do business to bring forward new and innovative ideas and to get these deployed at our customers’ sites as quickly as possible. Learn how Equifax has launched NPI in North America, Latin America, Canada, Spain and the United Kingdom and continue to do so in our emerging markets such as Russia, India and Mexico.
450 North Cityfront Plaza Drive
Driving Directions:Chicago Booth has arranged with the AMC Theater-River East Self parking Garage to provide discounted parking:
300 East Illinois Street (AMC Theater-River East Self Park Garage)
$6.00 after 3:00pm
Garage: Self Park Facility
Payment: Automated; at pay-stations by cash or credit card or upon exit pay by credit card only.
To receive discounted rate: There is a card validator at the first floor security desk of the Gleacher Center. The new system for the AMC Theater- River East Self Park Garage is automated. You will only need to insert your parking card in the validator and the new price will be automatically applied. You can validate your parking ticket at any time between your arrival at and departure from the Gleacher Center. When you leave the lot you will be charged for the lower $6.00 fee.
“Nothing will ever be attempted if all possible objections must first be overcome.”
– Samuel Johnson
“So what do we do? Anything. Something. So long as we just don’t sit there. If we screw it up, start over. Try something else. If we wait until we’ve satisfied all the uncertainties, it may be too late.”
- Lee Iacocca
“My advice to you is to start drinking heavily.”
- Bluto, John Belushi (Animal House)
Equifax is a large, global organization. “What can we do to launch innovation as one team?” It is a question that we asked ourselves in early 2007 to scale our new product efforts. New Product Innovation (NPI) is the process we have implemented to shepherd new initiatives through the product development lifecycle to achieve strategic top line growth. The avenue for this growth comes from our largest business units supporting end consumer distribution and large, enterprise B2B product sets. Since January 2007 we have launched 53 new products and driven over $70 million in new product revenue. We have aspirations of reaching our end goal of $200 million by 2010.
To achieve all of this Equifax has dedicated a team of individuals from across functions (product management, product marketing, technology, operations, legal, pricing, strategic marketing, sales) who have led the effort to implement the repeatable process which is being used in every business unit and every corner of the world in which Equifax operates.
In this presentation you will hear examples of both best practice success stories and ‘lessons learned’ to get Equifax to where it is today in its innovation crusade. You’ll get answers to key questions you’ve always asked such as ‘how much is too much?’, ‘how can I go faster?’, ‘who has the answer?’, ‘why can’t you do that over here too?’, ‘is this really a great idea or are we just talking to ourselves (again)?’, ‘where else could we implement this great idea and if not, why not?’, ‘how much did you say this was going to make us in the first year?!’ and ‘they seriously did not remove the coffee maker on floor three did they?!’ There will also be a facilitated session at the end of the meeting to allow everyone to compare notes on how to innovate globally in any organization.
Paul Gourley (Speaker)
Vice President for New Product Innovation, Equifax
Paul Gourley is the Vice President for New Product Innovation at Equifax. He currently is leading a global initiative at Equifax to incorporate new product innovation (NPI) enterprise-wide. The NPI culture of innovation originated in the U.S. and has now expanded both to established international geographies (Canada, Spain, Latin America, UK) as well as emerging Equifax markets (Russia, India, Mexico).
Mr. Gourley has more than 20 years of experience developing new products for both consumer packaged goods and software/services organizations. Prior to joining Equifax, Paul held senior leadership roles in Product Management with Sage Software, Fidelity National Financial, IBM and Kimberly-Clark.
Mr. Gourley has an MBA in Marketing from the University of Georgia. He obtained a BA in Management Information Systems from the University of Wisconsin – Eau Claire.