Collaborative Innovation helps international organizations to solve critical issues of capacity and capability augmentation and cost optimization. More often than not, organizations seek engineering outsourcing as a collaborative option. Engineering outsourcing today has become more mature, with innovation driving the dynamics of every strategic outsourcing partnership. Pure-play sourcing relationships are slowly transforming into strategic partnerships that offer more flexibility, process scalability, and enhanced knowledge sharing to fuel business growth. A partnership that leverages in-depth understanding of primary product lines; promotes innovation right from product design through delivery; and clearly defines stakeholder responsibilities at both ends, is bound to succeed in the long run. A collaborative partnership offers some strategic business benefits:
• Reduced cycle time: Vendors help firms lower their time to market by enhancing the efficiency of non-core activities, thereby enabling clients to focus on their core
• Process improvements: Exposure to best practices of global clients helps ESOs bring about process improvements
• Scale and efficiency: ESO firms cater to multiple clients unlike an in-house setup and hence offer advantages of scale, which in turn enables them to provide a more efficient and cost-effective alternative to their clients
• Rise up the value chain: The success of the engineering services delivery model is determined by the co-innovator’s capability to provide the benefits of the three C’s namely – Cost, Capacity, and Capability
The benefits of a collaborative approach to engineering outsourcing go far beyond savings. Besides firing a passion for project innovation and growth, this model provides access to best-of-breed technologies and best practices, a wider talent pool, and top of the line business systems and processes. Continuous systemic improvement with enhanced knowledge transfer enables the partnership to direct strategic focus towards maximizing business value and gain competitive advantage in the long run.
So what are the four components of a successful collaborative innovation model and how does an organization go about choosing a partner who can foster innovation? Watch out for our next post on this.
We are Quest Global. We’re in the business of engineering, but what we’re really building is a brighter future. It’s not just what we do, but why we do it that makes us different. We believe engineering has the unique opportunity to solve the problems of today that stand in the way of tomorrow. For 25 years, we have strived to be the most trusted partner for the world’s hardest engineering problems. As a global organization headquartered in Singapore, we live and work in 17 countries, with 67 global delivery centers, driven by 17,500+ extraordinary employees who make the impossible possible every day.
Quest Global brings deep industry knowledge and digital expertise to deliver E2E global product engineering services. We bring together technologies and industries alongside the contributions of diverse individuals and their areas of expertise to solve problems better, faster. This multi-dimensional approach enables us to solve the most important and large-scale challenges across the Aerospace & Defense, Automotive, Energy, Hi-Tech, Healthcare, Medical Devices, Rail and Semiconductor industries.