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Buyer’s Guide to Innovation Management Solutions

Buyer’s Guide to Innovation Management Solutions

Buyer’s Guide to Innovation Management Solutions

In the dynamic world of business, the quest for innovation is more crucial than ever. Companies are rapidly recognizing the need for a specialized innovation management solution – a key to unlocking substantial cost-savings, reducing risk, and skyrocketing productivity.

What Can an Innovation Management Platform Do for You?

  • Cultivate an Innovative Culture: Transform your workplace into a hub of creative thinking and problem-solving.
  • Boost R&D Efficiency: Streamline your idea gathering processes, making them more effective.
  • Adapt and Thrive: Equip your business to seamlessly adapt to changing times and market demands.

How to Pick the Right Innovation Management Platform

Choosing the right innovation platform is no easy feat, that’s why Wazoku has created a straight forward guide to help you understand what to consider when diving into the world of innovation management. This Buyer’s Guide to Innovation Management Solutions tells you all you need to know about what to expect when purchasing a platform and all the key features to look out for to ensure success. Access the full guide below!

Click to read Buyer’s Guide

Inside This Guide:

We unveil 7 essential factors for evaluating innovation management solutions, linking them to your present and future business needs.

Establishing Always-On Innovation

Why Innovation is No Longer Optional

Innovation is not just an enhancement but a necessity for survival and growth. Disruptive models can quickly shift market leaders to the periphery. For example, Skype’s overshadowing by Zoom highlights the relentless pace of innovation.

Beyond Early Innovation Stages

Many organizations start with idea boxes, hackathons, and democratized workplaces. While these are great at generating ideas, they often fall short in delivering transformative change.

The Limitation of Event-Based Innovation

Organizations relying on tools like Excel for idea collection are stuck in an ‘event-based’ innovation model. These methods often focus on incremental improvements rather than disruptive, market-leading changes.

Embracing Comprehensive Innovation

To stay ahead, companies must embed innovation into their entire network, turning ideas into scalable, repeatable value. This transformation is vital for organizations of all sizes and industries.

Key Ingredients for Systemic Innovation:

  1. Culture of Innovation: Fostering an environment where new ideas are valued and nurtured.
  2. Leadership Support: Ensuring top-level buy-in and resource allocation for innovative initiatives.
  3. Strategic Alignment: Linking innovations with overarching business goals.
  4. Effective Tools and Processes: Leveraging the right resources to amplify your innovation potential.