Our amazing friends from InVision are announcing the first four grants issued by their Design Forward Fund that started a little while ago.
InVision is releasing one of their largest design studies to date! I am excited to share their Design Maturity report helping companies analyze where they lie in the spectrum and understand how they can create better business outcomes with a strong design practice across an organization. I have personally worked in the financial industry for a while and design is still not part of the strategic seat even if they grow their UX teams to the masses. Hope this will change sooner. I have shared some of the key findings but I would definitely advice you to download the report and give it a good read.
In their words
An industry-spanning report that redefines design maturity today. InVision surveyed thousands of companies to explore the relationship between design practices and business performance. Explore the highlights here, and download the full report now to transform the way you work.
Giving designers a strategic seat at the table is essential to success, Tier 5 companies are:
- 4x more likely to report that design had a positive impact on their revenue
- 5x more likely to see cost savings
- 6x more likely to decrease their time-to-market
Design impact takes more than just hiring some designers.
- InVision found that higher reported business benefits are correlated with deeper involvement by people outside of the design organization.
- Design team size isn’t predictive of maturity. It’s possible to dedicate a lot of resources to design and still see small returns if the design team, its processes, and supporting structures aren’t properly calibrated.
The banking industry is known for its large UX teams, yet it lags when it comes to design maturity. This is a prime example of how investing in resources has diminished effects without incorporating design into business strategy overall.
Entertainment and media skew less mature than the average overall. Still, the number of Level 4 companies is over 50% higher than average. While most entertainment and media companies are hewing to outdated design approaches, a sizable and competitive subset are pushing industry norms forward through experimentation, analytics, A/B and beta testing, and beta measurement.
- Download the full report