Innovation managers traditionally focus on a company’s product and service portfolio, as attractive products and services ensure competitive differentiation and business growth. However, organizations often fail to recognize the potential value of inwardly focused process innovation. This might be due to a tendency to measure innovation-related roles only on their contribution to product and service innovation or because of the difficulty of measuring the value of internal innovation. In this report, we lay out some of the opportunities for operational innovation and propose ways to assess its value.