The Most Important Secret to Successful Innovation

Innovation is crucial for business success, but many companies struggle to manage the process effectively. According to a recent study, 72% of companies witness their innovation efforts withering due to a lack of a formalized process or organizational home for such initiatives. However, an idea management platform can be a helpful tool in each phase of the innovation process, from idea generation to implementation. It facilitates employee engagement, saves time, and enables teams to streamline the process by collecting and evaluating ideas from anywhere, at any time. By using an idea management platform, companies can successfully manage the five phases of innovation: idea generation, evaluation, experimentation, commercialization, and implementation.