Case Study: Global Energy Company reduces innovation investment risk with Wellspring Innovation Management

Leading Petroleum Company Significantly Lowers Innovation Investment Risk While Dramatically Improving The Investment Process

A leading petroleum company faced significant challenges with its innovation investment portfolio, suffering from poor visibility that led to inefficiencies and failed investments. To address this, the company engaged Wellspring to implement its Innovation Management software, seeking to gain full transparency and improve its vetting process for new investment targets.

By implementing Wellspring's system and redefining its processes, the company achieved dramatic improvements in just a few months. Within four months, they identified process bottlenecks and anticipated poorly performing investments. After six months, they used the enhanced visibility and reporting from Wellspring to readjust processes and successfully mitigate high-risk investments, significantly lowering their innovation investment risk.