IRIS is a groundbreaking cloud based software provider focused on fostering innovation and commercialization to deliver unprecedented levels of growth for its customers. Their novel, integrated Product Commercialization Platform is purpose built to manage a product from concept to launch and beyond; while providing visibility, efficiency and velocity, and millions of dollars in revenue growth.
Innovative secure interactive platform
Today’s global and virtual environment has established the need to collaborate across time zones to achieve product launches with speed, efficiency and quality. IRIS’ industry specific product suites for both the Consumer Packaged Goods (CPG) and Life Sciences industries enable customers to innovate, develop and launch new products with speed efficiency while enhancing brand value for its partners.
Having started in a garage in Sydney, Australia with the objective of providing an interactive platform built specifically for managing innovation and new product commercialization, IRIS is now global and positioned as the new Product Commercialization Platform of choice, for innovation-driven organizations. IRIS is helping companies “cherry pick” the best ideas and deliver successful products and services in highly competitive markets. Leveraging its unique patented technology, IRIS enables product teams to collaborate in real time both internally and externally with granular security. This includes managing the process, documents, workflow, business rules, compliance and project-portfolio management with real time dashboards for senior management.
Globalized end-to-end solutions
“We provide a central platform for product management that covers the entire pipeline of products and deliver prioritization, progression and performance tracking. As far as we know, IRIS is the only provider of an end-to-end Product Commercialization Platform. Also, our patented technology enables global internal teams to incorporate its suppliers and partners in the product development process with granular security resulting in faster time to market with speed and efficiency”, said Janaki Joshi, CEO Iris Interactive. “In fact, market studies have revealed that IRIS’s global customers have often exceeded their revenue goals by as much as 40%, while reducing their time to market by as much as 25%,. In industries such as life sciences, with a limited window of opportunity to generate revenue prior to patent expiration, this often translates to several hundred millions dollars in revenue growth”.
Enhanced collaboration equals success
With Unilever being its first customer followed by Johnson & Johnson, IRIS has been recognized as a game changer and earned several industry awards. While IRIS started with the CPG industry, today the emphasis is in the life sciences industry with both large and mid-sized Pharma, as well as, emerging biotech and medical device companies. For market segments, where new product development spans 8-10 years, faster time to market and the ability to maximize revenue prior to patent expiration is of huge significance. By having a cloud based collaboration platform that manages the process and provides access to the right information in real time, silos are eliminated and teams can function at a whole new level.
“The ability to have a single platform that operates horizontally across functions and vertically over the full lifecycle is very powerful” said David Davidovic, Advisory Director Iris Interactive “Our platform enhances the flow of work between all levels of an organization that is the IRIS difference.”
Goals moving forward
The IRIS product suite is now in its 11th generation with the maturity and robustness to scale globally and improve collaboration across multiple stakeholders. The company has an impressive track record for customer satisfaction across a diverse client base, a critical element to implementing a successful software solution. Taking pride in having served customers for over 14 years, today IRIS partners with customers such as Roche, Novartis, Johnson & Johnson and Sanofi. While these are among the top 500 Fortune companies, IRIS also works with innovative medical device companies such as OptiNose.
“We found our one-stop-shop for housing essential information and a productive tool to continually enhance the ability for OptiNose to grow successfully as a global company.” said Peter Miller, CEO OpitNose.
Future market leaders need to rapidly replicate innovation across functional teams and market segments in order to capture the market ahead of the competition. Carrying this vision forward, The company intends to expand their market penetration into the financial services arena, once again proving the IRIS competitive advantage.