Services

SIGInnova (formerly the SIG Innovation Accelerator) offers a portfolio of services to help develop and improve the innovation pipeline for Source through Supply Chain and related functions. SIGInnova combines the collective knowledge and strengths of SIG’s buy-side companies to create new products and evaluate meritorious mid-stage products in the Source through Supply Chain (SSC) space.

To help ensure a robust pipeline of innovative products, SIGInnova also works with select mid-stage and earlier-stage providers to assist them in product development and market penetration. SIGInnova works with SIG members to find and fill gaps in technology that can help the C-Suite drive strategic impact, improve profits and mitigate risk. In turn, SIGInnova accelerates the acceptance of these emerging technologies in the marketplace by providing real time feedback from the industry.

SIGInnova is focused on:

  • Identifying, evaluating and selectively facilitating development of new S2P products.  At the discretion of SIGInnova’s Leadership Council, products that serve other areas may be included
  • Evaluating and rating especially interesting mid-stage products as well as facilitating special pricing and terms for SIG’s members
  • Coaching, educating and assisting select early-stage providers on how to efficiently succeed with F1000 companies

Colleague Program

Becoming a SIGInnova Colleague is the first way for a provider to participate in and benefit from SIGInnova’s services. Benefits include:

  • An online listing with description and contact information in SIGInnova’s online Innovative Products catalogue that identifies your company and offerings to SIG’s buy side members who are looking for products to help them achieve their current objectives. This includes listing two company representatives with brief bios and pictures.
  • Eligibility to participate in additional SIGInnova services as shown below.

Fee: The annual fee of $1,000 – $2,500 for participation in the SIGInnova colleague program is based on a scale according to company revenue in your last fiscal year to enable visibility and participation for all providers.

Product Review and Acceleration

As a SIGInnova Colleague you will be eligible to nominate a product for review and consideration for SIGInnova’s Acceleration Program. This process involves ascending stages starting with a review by SIGInnova’s staff based on your product’s and company’s characteristics. A modest percentage of products emerge from the initial review for a more detailed analysis and discussion amongst participating procurement executives. Based on this second review, a small number are invited to present as a finalist company for Acceleration in person to procurement executives who have expressed current interest in your product category. You will be provided with a brief summary of the results of each step in which your product is being considered and recommendations, when selected, that may contribute to future success.

Fee: There is no fee for a SIGInnova Colleague to participate in the Product Review and Accleration process unless chosen as a company for Acceleration.  If selected to present to the procurement executives panel, an Acceleration agreement will be executed that includes further support by SIGInnova and a success fee as a percentage of your collected revenue from each sale to a SIG member company.

Product Focus Groups

As a SIGInnova Colleague you will have the opportunity to present online to four or more procurement executives in one session for the purpose of getting feedback on your product and/or marketing and sales strategies. These focus groups result in a brief written report that summarizes their opinions of strengths, areas that are unclear or may need improvements and suggestions for next steps.

Participants in the Product Focus Groups will be based on your specifications regarding industry(ies) and will include persons who have expressed interest in your product category.

Fee: $10,000 including preparation, online time and a written report.

Educational Program Series

SIGInnova Colleagues may enroll in online certification programs or courses offered by SIG University to increase their knowledge and understanding of considerations by procurement departments in considering, evaluating and purchasing products. These include:

  • Organizational and internal communications
  • Governance, risk and compliance issues
  • Financial considerations
  • Getting maximum benefits from event participation and your user group

Fees: Discounted for SIGInnova Colleagues and based on the specific programs and courses.

Product Transformation

Based on SIGInnova’s knowledge of the wants, unfulfilled needs and product gaps identified by SIG member CPOs, SIGInnova partner Creatze identifies and collaborates with product providers serving functions outside  Source through Supply Chain to transform these products in ways that may also impact and serve the SSC space.

Fees: Financial arrangements vary based on mutual opportunity and potential product fit.

Accelerated North American Success

Providers based in other countries often have excellent products and services that would fit well into the North American market but are significantly challenged in making the transition. SIGInnova partner Creatze helps these providers accelerate their entry into and successful growth with North American buy-side companies. Services range from tailoring marketing and sales strategies and programs to facilitating meetings with key decision makers in North American buy-side companies.

Fees: Assistance is tailored to the needs of each individual company.

Thank you for your interest in SIGInnova. Please complete this form for more information and to help us better understand how to serve your company.