Australian innovation consultancy Inventium has signed a strategic partnership with Massachusetts-based strategy firm Innosight. The two companies will use the partnership to collaborate between their respective locations, expanding the reach and impact of both firms and serving client organizations through complementary functions.
Inventium is a boutique innovation, strategy and management consultancy led by Amantha Imber. The consultancy has worked with more than 100,000 people across Australia and Asia Pacific to better innovate using a method derived from psychology (Imber’s formal training was in organizational psychology at Monash University), neuroscience and management science.
The Sydney-based firm uses the intersection between these three schools to help organizations unleash creativity and grow through innovation. They are self-proclaimed ‘science geeks’ who apply the latest scientific findings to “help organizations gain a competitive advantage,” according to the firm.
The firm offers services such as building innovation capabilities, creating an innovative culture and shaping sustainability innovation in organizations. Innovation and enterprise liberation is one of the fastest growing trends in modern times and Inventium has positioned itself as a leader in the field.
Imber said: “The Inventium team is very excited to be working with Innosight to bring their work to Australia as well as continue to grow Inventium’s presence overseas. Innosight is a world leader in helping organizations overcome disruption and uncover new growth opportunities, which will significantly help the many Australian businesses we work with.”
“We particularly look forward to working together to develop new IP and ways to help our clients, and to bring our evidence-based insights to the challenges our clients face,” said the company’s founder and CEO.
Their partnership with Innosight will give Inventium the opportunity to expand its services beyond Australia, as the US firm has offices in Singapore, Switzerland and Massachusetts. Innosight is part of the Huron Consulting Group network – a global professional services firm headquartered in San Francisco – which also extends to Canada, India and the UK.
Scott Anthony, managing director of Innosight Asia-Pacific, said: “Innosight’s work in Australia over the past few years has convinced us that we have a unique opportunity to help Australian leaders navigate disruptive change. Great Australian companies have the opportunity to avert disruptive threats and seize emerging growth if they act with urgency.”
Innosight is known for its rigorous methodologies and frameworks, including a future growth strategy and a dual transformation strategy. The two firms’ scientific approach to consulting is likely what unites them and will also help them in their joint approach to developing new lines of intellectual property.
“We are excited about this partnership and look forward to working with Inventium to advance our shared goals. Australia is an important hub for management consulting and the partnership will open up new opportunities to deliver services and create lasting impact for client organizations there,” said Patrick Viguerie, Managing Partner at Innosight.
Viguerie continued: “Inventium’s expertise and passion for a culture of innovation and benchmarking is a strong complement to Innosight’s leadership in growth strategy, transformation and business model innovation.”
Inventium also practices what it preaches. The type of business model innovation Viguerie is talking about can be seen in the consulting company’s innovative approach to vacationing. By giving its employees the freedom to take unlimited paid vacation, Imber has reduced the number of sick days the company takes to almost nothing. The scheme was introduced two years ago and is a symbol of the company’s highly regarded workplace culture.