Teltech, Sopheon and Product Development Institute Sign Partnership Agreement.Business Editors & High Tech Writers MINNEAPOLIS--(BUSINESS WIRE)--July 26, 2000 Plans Include Automating Stage-Gate(TM) Product Development Process Used by 70% of North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. Companies Technology-driven companies seeking leading-edge product development solutions will be able to look to a new American-European-Canadian alliance that combines the best in product development and knowledge management expertise. Minneapolis-based Teltech Resource Network Corporation, UK-based Sopheon plc, and Ontario-based Product Development Institute, Inc. (PDI PDI Protein Disulfide Isomerase PDI Personal Docente e Investigador (Spanish: Personal Educational and Investigating) PDI Pre Delivery Inspection PDI Professional Development Institute ) announced today a strategic partnership to create software applications that will strengthen product development processes. The partnership will combine Sopheon's best-of-breed knowledge management software, Teltech's research and knowledge management capabilities, and PDI's unmatched process understanding to build automated au·to·mate v. au·to·mat·ed, au·to·mat·ing, au·to·mates v.tr. 1. To convert to automatic operation: automate a factory. 2. solutions that businesses can use to guide product development from inception to launch. The planned solutions will be based on PDI's renowned Stage-Gate system, currently used in some form by an estimated 70% of North American companies, including most of the Fortune 1000. Stage-Gate gives businesses a product development process that improves both success rates and cycle time to market. The new partnership will focus on converting the process from paper to computer, enabling more efficient and consistent implementation through rapid transfer of critical knowledge. For companies without an established product development process, the Teltech/Sopheon/PDI offering will constitute an easily adoptable turnkey See turnkey system. solution. "Studies show that about 46% of the resources spent on the development and launch of new products is squandered squan·der tr.v. squan·dered, squan·der·ing, squan·ders 1. To spend wastefully or extravagantly; dissipate. See Synonyms at waste. 2. on products that either never make it to market or fail upon arrival," said Teltech president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Andy Michuda. "Teltech's and Sopheon's goal in partnering with PDI is to develop a complete integrated set of software applications, expert services and specialist content that will serve as the backbone of a company's product development process and dramatically boost new product success rates." "Only 60% of the new products launched in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. today are successful," said Dr. Robert Cooper Robert Cooper is the name of:
(2) To move through the menu structure in a software application. the development process even faster and more effectively." About Teltech and Sopheon Teltech Resource Network Corporation (www.teltech.com) is a leading provider of business-to-business research and knowledge management consulting Noun 1. management consulting - a service industry that provides advice to those in charge of running a business service industry - an industry that provides services rather than tangible objects services. Its vertical research portals for business and technical professionals reduce unproductive Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the search time by as much as 50%. Teltech's consulting services Noun 1. consulting service - service provided by a professional advisor (e.g., a lawyer or doctor or CPA etc.) service - work done by one person or group that benefits another; "budget separately for goods and services" assist companies in the development of e-business strategies, and in the creation and implementation of portals for e-business applications. Headquartered in Minneapolis, Minn., Teltech is privately held. Its client list includes half the Fortune 500. Sopheon (www.sopheon.com) designs, develops and implements software-based knowledge management solutions which streamline the processes of creating, capturing, organizing and distributing knowledge. Its shares are quoted on the UK Alternative Investment Market ("AIM") and on the Euro.NM in Amsterdam. Sopheon has operational headquarters in Guildford, UK, and offices in the Netherlands and the USA. Sopheon and Teltech announced in spring 2000 that they had agreed on the terms and conditions of Sopheon's acquisition of Teltech, pending approval by the SEC and a vote of Teltech shareholders. The proposed merger is expected to close in 3rd quarter 2000. About PDI The Product Development Institute, Inc. (www.prod-dev.com) is dedicated to helping companies improve their approach to new product development and portfolio management. Led by internationally recognized experts in the field of product development, Robert Cooper and Scott Edgett, the Institute provides executives and managers with a wide range of products and services aimed at improving companies' new product success rates. Cooper and Edgett have worked with more than 800 businesses, including most Fortune 500 companies, and have compiled the largest database on product-development best practices in the world. (a) Stage-Gate is a trademark of the Product Development Institute, Inc. |
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