Innovation Is Key
Driving innovation in a mature and highly successful business can be challenging. Seco has a strong history of being close to their customers, being competent and practical, and having a pipeline full of product innovations launched every year. It’s a company known for driving product innovation to increase productivity for their customers, but innovation goes beyond just product development.
In 2016, the management team of Seco visited the San Francisco Bay Area. For decades, this area has served as the world’s flagship hub for technology, innovation, and entrepreneurship. The purpose of this trip was to learn, get inspired and to have a clear idea of what actions to take when coming home. One conclusion was that for a company to stay in a leading position in tomorrow’s industry, innovation is key.
Innovation today is strongly coupled to ongoing technology shifts. Technologies within areas such as additive manufacturing, Internet of Things, artificial intelligence, blockchain, cloud services, and augmented as well as virtual reality will impact both Seco’s customers and the company itself. These technologies will shift the nature of how their customers operate.
“We will leverage these technologies by deploying them selectively both internally and towards our customers, but also by forming brand new offerings. The only constant in the future is the critical impact of people,” says Fredrik Vejgården CEO of Seco Tools.
Innovation is about releasing and harnessing creativity with a purpose. It is about improving value for stakeholders. Innovation is about users. At Seco, Innovation Management includes both top down and bottom up innovation. They are building internal and external innovation networks with people in the center and as drivers. In order to have innovation and impact, it is important to focus on both exploration and exploitation, and not just generating ideas.
The best way to drive innovation is by collaborating with others, for example, combining the knowledge and skills within the company with those of partners, customers and universities. One example is Seco’s Innovation Hub in England, a place where partners, customers and the company can work together to find new ways to drive productivity and quality.
“We see a large interest in working together and contribute to create customer value,” says Andreas Fritz, Vice President Sales.
Throughout the history of Seco, innovation has been a driving factor, and with the changes of digitalization, it’s more important than ever. Innovation will always be a part of how to evolve Seco and it plays a big part in keeping up and staying in the lead when it comes to lift customers to the next level of productivity.