Innovation Management Software
What is Innovation Management Software?
Innovation management software (also known as Idea Management Software) supplies an organized, secure collaboration space for idea generation and progress toward innovation. Innovation management software is similar to project management software but with security features to protect corporate innovations or other kinds of IP.
Vendors offer different deployments of innovation management to support the development of products, ideas, and innovations of various kinds. A platform may include tools that allow employees to collaborate on ideas. Another may provide means of engaging and surveying customers for their input. The focus is to allow the organization to respond to external or internal ideas and opportunities as the case may require.
Features and Benefits of Innovation Management Software
Vendors tout benefits of their innovation management software to match the ideas of the potential customer. A cross-section reveals the following general capabilities:
Strategy & planning templates and guidance
Project milestone generation & progress tracking
Stage progression schema for product release roadmap
Customizable content presentation elements
Mobile-friendly design interface
Secured access, single sign-on (SSO) integration
Project budgeting, forecasting
In-built collaboration & communication
Prototyping in-built, or via integration
Surveys or ideas crowdsourcing
Custom fields for data gathering
Employee or customer engagement, VOC
Market intel or tracking (for benchmarking, competitor comparison)
Similar to project management software, limited deployments of idea management software are available free to individuals or small groups. Free trials of more substantial offerings are also available. Relatively low-cost PPM-like deployments are available on a subscription basis (monthly or annual) from some vendors. Higher tier plans that far exceed project management or PPM-like capabilities are available. These are relatively high cost but supply advanced features. Some advanced features of high-tiered plans may include prototyping, research and testing tools, and frameworks for progressing complex engineering or software projects. Furthermore large, disparate teams of contributors including personnel or people outside the enterprise (e.g. consumers) may be brought together via innovation management software.
Spigit is a software for crowdsourced innovation, and is used by companies in systems integration, financial services, insurance, pharmaceutical, healthcare, technology, and more. Spigit’s customers include IBM, Capgemini, Citibank, and Pfizer. The vendor says 4.5M users from 150+…
MindMeister is an online mind mapping tool that lets users share maps with an unlimited number of users and collaborate with them in real-time. The vendor says more than 11 million people around the world use MindMeister to brainstorm ideas, plan projects, take meeting minutes, develop…
Ideanote is an all-in-one innovation platform that promises to help teams and businesses around the world capture, develop, prioritize and act on more of the right ideas. According to the vendor, key benefits include:Capture ideas with structure by launching powerful goal-oriented…
Founded in 2006, Qmarkets is an innovation management software provider, offering a variety of products to help enterprise-grade clients leverage the wisdom of the crowd. The configurable software platform Qmarkets offers allows users to collaborate on targeted innovation initiatives…
SwitchPitch Connect is a platform that is designed to help established companies find innovative startup solutions for their innovation needs.The platform consists of:Database of 35,000+ startups/SMEsA marketplace where enterprises can publish internal projects that they can’t undertake…