What is Innovation Management Software?
Innovation management software is a specialized tool or platform that helps businesses streamline and enhance their innovation processes. This software typically includes features such as idea generation, collaboration tools, project management, and analytics to track and measure the progress of innovation initiatives within an organization. By utilizing innovation management software, businesses can effectively manage their ideas, evaluate their feasibility, and ultimately drive successful innovation within their company.
Benefits
There are numerous benefits to using innovation management software, including:
Centralized idea management – With all innovation activities and ideas stored in one platform, businesses can easily track and manage their innovation processes from start to finish.
Improved collaboration – Innovation management software allows for better team communication and collaboration, leading to more effective brainstorming and idea generation.
Increased efficiency – Innovation management software can help businesses save time and resources in their innovation efforts by streamlining processes and eliminating manual tasks.
Enhanced visibility – With real-time data and analytics, businesses can gain insights into which ideas are most successful and make informed decisions on which areas to focus their innovation efforts.
Faster time to market – By keeping all stakeholders involved and aligned through the software, businesses can accelerate their innovation processes and quickly market new products or services.
Continuous improvement – Innovation management software allows businesses to continuously assess and improve their innovation strategies, leading to an ongoing cycle of successful innovation.
Key Features
When considering which innovation management software best fits your business, it’s important to look at key features supporting your organization’s specific needs. Some common features to consider include the following:
Idea generation and management
Collaboration tools
Project management capabilities
Data analytics and reporting
Integrations
Security and privacy
Choosing the Best Innovation Management Software
When choosing the best innovation management software for your business, consider your organization’s goals and needs. The table below compares the best innovation management software to help in decision-making. It details free versions, pricing, and mobile app accessibility.
Innovation Management Software | Free Version | Paid Plan | Mobile App |
SafetyCulture | Yes | $24/user/month* | Yes |
Yambla | No | Custom pricing | Yes |
Canny | Yes | $79/month* | No |
IdeaScale | No | Custom pricing | No |
Brightidea | No | Contact vendor for pricing | Yes |
Viima (now HypeBoards) | No | $79/month | Yes |
Qmarkets | No | Custom pricing | Yes |
Ideawake | No | $500/month | No |
Wazoku | No | Custom pricing | Yes |
InnovationCast | No | $2,499/month | No |
* billed annually