Innovation management refers to a systematic process of promoting innovation strategies in organizations to plan, organize, manage, and control various ideas for internal co-innovation and open innovation from social media networks and communities. These innovation strategies help in shaping structure and business processes of organizations by the successful implementation of new ideas that are formulated as innovations. Innovation management solutions majorly focus on adding value to customers, employees, citizens, students, and faculty, among others. The innovative ideas, experience, and knowledge sharing not only results in value addition to organizations but also brings a sense of engagement among employees and customers of organizations, thereby promoting a culture of efficiency, workplace innovation, and continuous improvement. In addition, organizations make use of crowdsourcing techniques to share, collaborate, evaluate, prioritize, find, and carry out advancements in the innovation management solutions.
Vendor DIVE provides information about the major vendors of innovation management solutions and outlines the findings and analysis on how well each market vendor performs within our criteria. The vendor evaluations are based on two broad categories — product offerings and business strategies. Each category carries different criteria, based on which the vendors are evaluated. The evaluation criteria considered under product offerings include the breadth of offering, delivery (on the basis of industries that the vendors cater to, deployment models, and subscriptions), and support (on the basis of pre- and post-sale support services). The evaluation criteria considered under business strategies include reach (on the basis of geographic presence), industry coverage (on the basis of end users that the vendors cater to), and inorganic growth (on the basis of partnerships, collaborations, and acquisitions).
Brightidea, Inc., HYPE Innovation Inc., Imaginatik plc, Planbox, Inc., Qmarkets, and Spigit, Inc. are some of the leading players operating in the innovation management market and have been recognized as visionary leaders. They have a strong portfolio of services and solutions that offer innovation management solutions and associated services. These vendors have been marking their presence in the innovation management market by offering highly customized and easily deployable software for commercial clients, coupled with their robust business strategies to achieve continued growth in the innovation management market.
innosabi GmbH, KPMG, Salesforce.com, Inc., and SAP SE have been recognized as dynamic in the innovation management market. They have an innovative portfolio of solutions and services. They also have an extensive network of channel partners and resellers to increase deployment of their services across a multitude of vertical markets. Over the years, the dynamic vendors have been consistently generating positive in the innovation management market and their market position is fueled by the organic and inorganic ventures undertaken by them.
CogniStreamer, Crowdicity Ltd., E-Zassi LLC, IdeaScale, and InnovationCast have been recognized as innovators in the innovation management market. They have an innovative portfolio of innovation management services and a strong potential to build strong business strategies for their business growth. These vendors have been consistently providing their customers with new innovation management solutions for their customized demands. Innovators have been forefront in deploying their solutions for catering to the niche and customized requests of clients that require processing of high-performance workloads.
Exago, Inno360, Inc., InnoCentive, Inc., and Nosco have been recognized as the emerging players in the innovation management market. The emerging players specialize in offering highly niche and tailor-made solutions and services to their clients. The majority of the emerging vendors in the innovation management market have been undertaking acquisitions to increase their sales capabilities across regions to offer their integrated services to a wide range of clients.
Today, many small-scale and large-scale business organizations are thriving for a better innovative edge for better growth standards of their organization. Innovation Management Software by 100%Open is the crucial element that allows an organization to register and implement the innovative ideas directly from the clients or inside employees. Under Innovation Management software, every new design will be recorded and tracked on for proper execution that might add to the profit count of the organization.