Digital Transformation for Reckitt’s R&D Intelligence

Business Challenge:

• Reckitt is a global leader in the home pest management industry. The key obstacles faced by the client were regular tracking and monitoring of new product launches in the pest market, tracking research and innovations, new active ingredients in the market, and competitive strategic partnerships that were prevailing.
• The client intended to develop an innovation platform to monitor global new product development and innovation in the Pest Control Category, recognizing the need to accelerate the innovation process in order to sustain and boost revenue results.
• Knowing that there are technologies being developed all over the world in the pest control field, it is critical for them to watch hundreds of new product launches globally in order to stay ahead of the competition.
• The client desired the creation of an innovation tracking platform to capture external innovation, eliminate internal information asymmetry, and facilitate knowledge transfer.

Who is the client and what do they do?

Reckitt is one of the world's largest multinational firms it produces and supplies fast-moving consumer goods in home, health, and nutrition product categories.

SkyQuest Approach:

SkyQuest formed a team of product developers and researchers experienced in building products in the FMCG space. The team started by analyzing the client’s requirements and suggested reference projects, across various brainstorming sessions over a period of 2 months. Through ongoing communication with the client, we determined the project's initial technical requirements through ongoing communication with the client and began developing a tool dedicated to the pest control space from scratch.

The solution provided a safe and secure tool for the client to track and manage innovation across multiple teams. The project was divided into four major phases.

SkyQuest Solution:

SkyQuest developed Entopedia as a one-stop IP Business Intelligence digital platform for all pest-related research needs. The tool acts as a digital brain for capturing the shifts, trends, innovations, and launches within the Global Pest Control Space.

Features of the tool-

• End-to-end Regulatory Information Management- Stay UpToDate, Holistic view of compliance & compliance improvement, accelerate approvals and reduce risk.
• Machine Learning / AI-Powered Market Knowledge - Indicator for capturing shifts in the market- Uncover data from multiple sources, comprehensive news web, streamline the process for gathering information, content personalization, and save time.
• Specialized Knowledge in Raw Material Procurement- Offering accurate and reliable technical information for tens of thousands of products, the fastest way to find nearly any kind of material or ingredient.
• New Products Database- Find everyday ideas, identify & compare, competitive advantage, fast track innovation

Impact:

• According to client feedback, the tool is the "most comprehensive go-to dashboard for the Pest Control Industry, where users can stay updated with a click of a button."
• According to the client's internal survey, implementing this tool resulted in 95% more effective knowledge transfer and a reduction in information disparity. Previously, the knowledge transfer procedure took 4 to 6 weeks; now, the process takes zero time because all users can access the data at the same time.
• The client found the solution so helpful that they recommended the solution to their other product categories so that duplication of work across teams is eliminated and the new product development research along with competitor tracking is done swiftly in 1/3rd time and cost.

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If you want to develop a custom market intelligence tool for your business. Schedule a free consultation with us today.