Sopheon PLC Sopheon and National Foods Limited Partnership

TIDMSPE

Sopheon PLC

28 March 2019

SOPHEON PLC

("Sopheon" or the "Company")

Sopheon and National Foods Limited Partner for

New Product Innovation

National Foods pursues significant revenue growth from new products through new process, governance and adoption of Sopheon's Accolade(R) Express solution

Sopheon, the international provider of software, expertise, and best practices for enterprise innovation management solutions, announces its partnership with National Foods Limited, one of the leading foods companies headquartered in Karachi, Pakistan. National Foods Limited (NFL) has subsidiaries in the United Arab Emirates, United Kingdom and Canada.

With a strategic vision to achieve significant turnover growth by 2020, National Foods Limited wants to ensure long-term success by introducing a formalized product development decision-making process to support the fast pace of change in the consumer markets. The team at National Foods recognizes that in order to maintain their competitive edge, they have to increase the pace of new product innovation and improve the success rate of these products. In terms of work process, the team is quite clear about the need to have one source of truth for all data and decisions related to new innovations, better strategic alignment across the different groups of stakeholders, and better visibility at all stages of the product development process to mitigate the risk inherent in investments in bold, new-to-the-world products.

The CEO of NFL, Mr. Abrar Hasan, stated: "After an in-depth evaluation of a number of software vendors, we chose the Accolade Express solution. Sopheon has the expertise and a solid number of customer references in the fast moving consumer goods (FMCG) space, the solution is Stage-Gate(R) certified, and we had really good interactions with the Sopheon team as well as CEO Andy Michuda."

NFL aims to achieve new heights of business performance and innovation excellence through this collaboration with Sopheon.

For further information contact:

 
 Barry Mence (Chairman)                               + 44 (0) 1276 919 
  Arif Karimjee (CFO)                  Sopheon plc     560 
 Carl Holmes/Giles Rolls (Corporate 
  Finance)                                            + 44 (0) 20 7220 
  Alice Lane (ECM)                     finnCap Ltd     0500 
 

About Sopheon. Sopheon (LSE: SPE) partners with customers to provide complete enterprise innovation management solutions including software, expertise, and best practices, that enable them to achieve exceptional long-term revenue growth and profitability. Sopheon's Accolade solution provides unique, fully-integrated coverage for the entire innovation management and new product development lifecycle, including strategic innovation planning, roadmapping, idea and concept development, process and project management, portfolio management and resource planning. Sopheon's solutions have been implemented by over 200 customers with over 60,000 users in over 50 countries. Sopheon is listed on AIM, operated by the London Stock Exchange. For more information, please visit www.sopheon.com.

Accolade is a registered trademark of Sopheon

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

END

NRAFMGZFRNDGLZM

(END) Dow Jones Newswires

March 28, 2019 03:02 ET (07:02 GMT)