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According to Kaspersky, 95% of enterprises admit their technology innovations fail before launch

According to new research commissioned by Kaspersky, 95% of innovation leaders in enterprises globally admit that their projects often fail before they are launched, and 36% said any of these innovations don't even make it past development stage. The research also highlights that a lack of cooperation with IT Security departments also increases the likelihood that a project will never be released.

New products developed by enterprises often do not succeed, and the failure of already publicly launched projects only makes matters more complicated. According to a Kaspersky study in which 304 senior decision makers with an involvement in innovation were surveyed, the development stage is considered to be most challenging across the ‘innovation lifecycle' as confirmed by a third (36%) of respondents based on their experience.

 

For most enterprises, the main reason for unsuccessful innovation is the lack of a clear plan and structure in place, with nearly one in five (19%) respondents agreeing with this. This means that the ability to execute is as important as coming up with a brilliant idea: it is imperative that innovation leaders can transform a valuable insight into a profitable and plausible solution. Once the roadmap is established, it is also worth regularly reviewing it to keep up with competitor activity, market trends and industry fluctuations.

Cybersecurity was not listed among the top reasons why projects fail. Nonetheless, there is a shared belief (74% agree) that by not including a Chief Information Security Officer (CISO) early in the process, enterprises are increasing the likelihood that their innovation will not be successful. This could be due to an inability to adapt projects to strict cybersecurity rules, with more than half (54%) believing that IT security policy in their company stifles innovation.

"For a business to innovate, it should take risks and be ready to go through some failures in the process as well, as they are inevitable when you are looking into something really new," comments Alexander Moiseev, chief business officer at Kaspersky. "However, there are still some practical steps that can be taken to make sure that an emerging technology or a product reaches its launch. Cybersecurity doesn't have to be another corporate barrier, but it should be on an integral part of the project all long. Make sure to keep the CISO in the loop early on when planning the next technological breakthrough for your company."

To read the full report, please click here.

Published Friday, October 16, 2020 8:25 AM by David Marshall
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