Idea management is defined as “a structured process of
generating, capturing, discussing and improving, organizing, evaluating
and prioritizing valuable insight or alternative thinking that would
otherwise not have emerged through normal processes.” Normally a typical
ideation process involves a storyboarding session involving a few
stakeholders. Though it results in products, it lacks innovation. This
is because only a few minds are at work and hence only a few ideas
emerge. Instead of a few minds, many minds need to be at work to bring
in different ideas. Hence, more people need to be involved during the
storyboarding session. But how to do that? Convene a meeting involving
all and sundry to churn out ideas or meet each person individually for
idea generation. None of the above, since it can only result in
unnecessary waste of time and efforts. What is required is idea
management software that

* inspires those people (both internal and
external)who work closely with the products that end up in the market to
contribute ideas

* involves more people during the
storyboarding process – clients, product engineers, analysts –
stakeholders from various product development phases

* sets up an efficient feedback system where end users’ issues can be heard and addressed

*
encourages healthy expression of suggestions by allowing all
stakeholders to put forward and resolve their concerns and contribute
towards solving problems

* provides an opportunity for all
stakeholders to better understand the product development process so
that there is no gap between expectation and delivery

Ideation
software provides a platform for people with so many diverse experiences
and backgrounds to come together for realizing a common goal. This
results in many different cost, time and process improvement related
ideas. Screening these ideas lead to not only innovative products but
also innovative business processes, workflow management and market
trends.

The following are the advantages of idea management implementation.

* New competitive products and services

* Process improvements

* Improved collaboration and decision making across teams

* Competitive advantage

* Identify hidden talent and new areas of growth

* Enhanced Brand Value and Brand Loyalty

* Transform the organization to leadership position by expediting innovation

* Foster innovation culture

* Encourage participation and generate enthusiasm in employees towards driving the solution

* Operations optimization to reduce costs and hence increased bottom lines

* Gain competitive advantage over rivals

Idea
management software is the need of the hour as it empowers the
employees with a platform to think aloud and submit their ideas and
suggestions.