InventX, Inc. (“InventX”) is a web-based Project Portfolio Management Software Solution company focusing primarily on Onsite-Offshore Collaborative Development, New Product Development (NPD) and Sarbanes-Oxley compliance markets.
Companies and/or corporate divisions must now execute an increasing number of projects using global teams requiring shorter cycle times. Information on resources planning, schedule changes, and delays must be communicated to all parties, and at all levels of the organization. The increase in the volume of projects takes place against a background in which many projects are late, over budget, and not meeting initial objectives. Today’s global economy is forcing companies to manage their businesses differently and more effectively. One of the major remaining opportunities for improvement is in the discipline of project management.
How did we foresee this opportunity? InventX’s market opportunity is to provide software solutions that address the product development and project management activities. The software enables companies to balance product development pipelines, obtain the information necessary to maintain a robust project portfolio, and manage critical resources. The result can be a pipeline that doubles in throughput, while achieving a significant increase in the number of successful projects.
Companies that once managed one or two major projects per year are now dealing with multiple customers, multiple vendors, and, most importantly, shorter cycle times for their products and services. If projects are to succeed, better communications, coordination, and collaboration are required internally and externally. Information on resources, schedule changes, and delays must be communicated to all parties, and at all levels of the organization. The increase in the volume of projects takes place against a background in which 80% of projects are late, over budget, and failing to meet the initial objectives (Source: UC Berkeley, HAAS School of Business report).
Therefore, today’s competitive environment forces many companies to manage their business more effectively, and one of the major remaining opportunities for improvement is in the discipline of product development and project management.
What did we do about it? InventX currently provides a superior solution to the problems surrounding the Distributed Project Management and New Product Development markets. Since DPM and NPD are subset markets of the much larger Product Life-cycle Management (PLM) market, there are key areas that overlap, making InventX solutions available to all the three markets. InventX believes this strategy ensures meeting its short-term goals in the DPM & NPD market, and enables us to achieve our long-term, high-growth goals for the PLM market.
Where do we plan to go from here? InventX's vision is to provide innovative, intelligent value added software solutions that seamlessly enable business communities.
How do we see our competitors? There are a large number of competitors that provide various independent application modules related to project management. To date, most forward-looking companies attempting to accomplish true Enterprise-wide Distributed Project Management have met with little success. No single solution existed and those who attempted to build such systems were forced to select from an array of vendors for the various functional components. Despite the best efforts of well-intentioned professionals, these disparate "best of breed" solutions resulted in loosely coupled applications based on a variety of technical (and data) architectures and significantly different user interfaces. Such systems force duplicate data entry, user frustration, reporting nightmares, and system maintenance environments that are nearly impossible to support.
Over the last year or so, a number of project management software vendors have made valiant efforts to address these issues. Most began by migrating their desktop scheduling (or other) applications to a client/server environment and adding new functional modules. In a few cases, the increase in functionality was the result of mergers and/or acquisitions. A couple have even added HTML interfaces to a few modules and declared their products "web-enabled".
While sounding somewhat harsh, we believe our competition is largely comprised of dysfunctional internal legacy systems and well-intentioned ex-desktop project management software vendors trying to assemble something that the enterprise market will buy.
In contrast, InventX’s ePM product family has been designed from its inception to be an enterprise level solution. Our products are robust in both breadth and depth of functionality and reflect the published knowledge base of the two most respected project management institutes. Further, our technology architecture is unmatched. Our 100% web-based system is written in pure Java (not simply HTML) to deliver real power to users as well as scalability and portability across a variety of operating system environments. Our open architecture is designed to be database independent, interfaces well with legacy or ERP systems, and easily supports customer requests for customized enhancements.
Our Core Values:
Customer Excellence Listen to, understand, and be responsive to customers Deliver high quality, on time products and services Build and maintain strong customer relationships Ensure that every customer is a reference site
Innovation Believe anything is achievable Encourage and reward out-of-the-box thinking Create leading-edge solutions Continuously improve products and processes Learn from our mistakes
Integrity Be sincere in what you say and do Deliver on commitments Be honest with employees, customers, partners, and shareholders
Exceptional Teams Embrace a shared destiny to achieve individual and company objectives Promote effective communication Promote and achieve individual satisfaction and growth People are our most valued assets
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Collaborations in biotechnology Commercial and academic collaborations are used throughout the biotechnology and pharmaceutical sector to enhance research and product development.
Collaborations can take the form of research and evaluation agreements, licensing, partnerships etc.