The innovation management tools market offers technologies that help organizations streamline operations for their innovation programs. Most products offer similar core capabilities around ideation, collaboration, stage-gate workflows and reporting. An IRI member is conducting market research around tools in this space and would like to know if IRI members are using COTS (commercially available off-the-shelf) products to capture the front end of innovation and your perception on the performance of the tools
2. If COTS product, what is the vendor name/platform? Also, would you recommend this product to others?
- Sopheon Accolade (Two responses: Yes; Yes It is flexible and provides a visual framework for the processes my company has in place.)
- Bright Ideas (Yes, depending on circumstances. The product is modular with a lot of capabilities, but it is also expensive depending on which/how many modules are used. The cost might be hard to justify for smaller companies.)
- Smartsheets for some, and inhouse for general innovation idea submissions. (interfaces nicely with BI tools)
- Value Innovations, Inc - Value Innovation Process and enabling tools (Yes, it has been used in several Fortune 500 and mid-size companies and start-ups.)
- AHA (Maybe - very simple. Doesn't really do full innovation management but it is what we have right now)
- Current product was developed in house, however we did use a COTS provided by SmartOrg. (I would recommend that companies have a portfolio view of their innovation program so they can conduct regular portfolio analysis)
- PowerBi and other inhouse items to support stage gate. (Gives a good view of where resources are spent.)
- Microsoft Teams (Two responses: Yes; Yes, only because it doesn't involve an incremental cost.)
- Hype Enterprise (Yes. It is actively developed further, and we have a very close relationship with the vendor. Great user community.)
- Computer Associates - Clarity. Though our version is highly modified for us (It is pretty good. Not great, but we don't see that there is any product out there.)
- SalesForce (No, not user friendly and very basic for innovation pipeline management.)
- SharePoint (No, we use because it's standardized within our company, not because it's the right tool.)
6. What future feature categories are you considering?
- Full integration with our databases containing critical information necessary to visualize the portfolios.
- 1. Identifying transformation (disruption) axes bringing changes to all major industries and markets 2. Using Text Mining to capture relevant data/information in real time (Collaboration with Text Mining Solutions in the UK)
- Incubation Management, Document Storage for legacy, financial modeling for impact
- Automated data scraping
- Ability to size Front End Innovation projects
- Looking at AI in pilot studies
- Additional content. ML/AI. Recommendation engine. Integrations
- We are currently looking to get some automated charting capabilities to help with project portfolio reviews.
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