Maintaining an optimized innovation process in today’s competitive market can give your company an edge over competitors.
While developing an in-house innovation management system is an option, utilizing existing innovation management tools is often a faster and more efficient approach. These software solutions offer many features, including trend databases, project management tools, challenge participants lists, and project partner connections.
Here are the top five Innovation Management Software Solutions worth considering in 2023. Let’s explore them.
1. IdeaScale
IdeaScale is a powerful innovation management platform that enables users to crowdsource and organize new concepts.
With IdeaScale, you can tap into a community of over 30,000 problem solvers, create challenges for the community to tackle, iterate on crowdsourced ideas, facilitate decision-making processes, plan projects, and track your team’s progress.
Designed for large innovation teams, IdeaScale offers customized pricing based on your specific program needs.
2. HYPE Innovation
HYPE Innovation provides both an innovation management software solution and consulting services.
This platform allows you to research industry trends, develop and log ideas based on trend data, analyze and compare the potential value of ideas, collaborate with your team through voting and commenting, plan the implementation of ideas, connect with startups for execution support, and receive training on fostering a culture of innovation.
HYPE Innovation caters to large teams requiring extensive analysis and coordination. To explore its features, contact HYPE for a custom price quote.
3. Brightidea
Brightidea is an innovation management solution that enables large global workforces to crowdsource ideas. Like IdeaScale, it helps you locate participants for crowdsourcing challenges, run hackathons, identify trends, collect and organize ideas, track progress, and find external advisors to support your innovation efforts.
Brightidea’s Memo tool also facilitates organized collaboration on idea development and testing. To discuss pricing and request a demo, contact Brightidea directly.
4. QMarkets
QMarkets is an innovation management tool tailored for research and product development teams. With QMarkets, you can crowdsource ideas for new products and services, collect internal ideas, track industry trends, optimize new and existing offerings, plan the execution of ideas, find stakeholders and vendors for collaboration, and access analytics on your innovation work and progress.
Notably, QMarkets incorporates a “Q-optimize” feature that utilizes AI to suggest ideas to relevant stakeholders within your organization for review or approval. QMarkets offers custom pricing plans, so contact them for a quote.
5. Planview IdeaPlace
Planview IdeaPlace (formerly known as Spigit) is an innovation management tool designed for large corporations. This software solution allows you to collect ideas from stakeholders across your organization, cultivate an internal idea-generation community, facilitate voting and to comment on ideas, leverage gamification features to encourage team involvement, estimate the cost of implementing ideas, create idea capture forms and process workflows, and analyze metrics related to platform usage.
IdeaPlace stands out with its use of natural language processing (NLP) to analyze common words and themes in ideas, enabling quick sentiment analysis and focus identification. Planview offers various enterprise SaaS solutions, including IdeaPlace, so contact the company for pricing details and product access levels.
Conclusion
Incorporating these innovation management software solutions into your company’s processes can enhance your ability to generate and implement innovative ideas, empowering you to stay ahead in today’s competitive business landscape.
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