Idea Management | Manage Innovation and Ideas
Idea management software helps foster innovation to keep your company competitive.
Idea management software is used to vet new product ideas, develop new internal procedures and policies, respond to customer and employee suggestions, and much more. In short, idea management software acts as a digital, automated suggestion box with a built-in idea review and approval workflow. Depending on the needs of the organization, these idea development workflows can be straightforward or highly complex, managing ideas and projects over the course of several years (for instance in the pharmaceutical or bioscience industries).
Ideas can come from anywhere: employees, customers, partners, the market, etc. and can be in a variety of categories, for instance:
Centralizing the process for getting these innovative ideas increases the volume of ideas received, ensures consistency and quality, and makes them more actionable by the appropriate staff.
Idea or Innovation management software systems provide a way for leadership to collect ideas and track them through a rigorous evaluation process. When an idea is submitted, others within the organization can offer feedback on the idea or point to existing solutions of which the submitter is unaware. Each step of the idea review process is a task within a visually-displayed process. A task might consist of a simple approval, for instance, a "gatekeeper" administrative employee might review every idea that's submitted and then sign off, reject, ask for more information, refer to another employee, etc.
Another task might involve assigning research to an individual, who would then attach their research and move the process forward. A task can really be anything that needs to be confirmed as having been done.
Different departments may have different tasks during the evaluation process, for instance, a product marketing team may meet (in person or within the collaboration area of the software) to discuss a product idea’s potential, providing documentation and research supporting its viability. If it is determined that a market exists for such a product, the idea moves on to the next phase.
Integrify facilitates the tracking of the idea management process from conception until they become actual projects. This becomes critical when numerous new ideas are created every month by employees, customers, and partners. The software helps everyone involved track where each idea is, how far along in the process it has moved and its current status. In addition, reports and KPI dashboards can show the rate and success levels of idea flow within the organization helping measure innovation.
Transparency is key! A large percentage of employees feel disengaged in the workplace. Some surveys show this as high as 87%. Providing transparency into your process for evaluating employee ideas can have a huge impact on engagement.
Additionally, Integrify provides a way of “memorializing” ideas and collating documentation regarding past decisions, so teams can assess the novelty of an idea as well as track which ideas were not pursued (and why those decisions were made). This resource saves significant man-hours in retreading well-worn paths.
Without idea management software to track this process, the development of new ideas as being “very ad hoc,” with no standardized method for keeping all stakeholders abreast of the most recent developments.
Another benefit is that with better visibility and communication, employees and customers will put more new ideas forward. This happens because:
Your company may have a lot of great ideas floating around peoples' heads, but until you have a repeatable way to collect them, evaluate them, and assign them they will continue to float and rob the company of innovation.
To see how quickly you can begin automating your business processes, request a demonstration or trial of Integrify.
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