Using Idea Management Tools For Better Innovation Outcomes

Idea management tools help organizations capture, organize, filter, and evaluate ideas based on cost, risk, and business impact. They provide a framework for managing an idea portfolio and equip organizations with the capabilities to turn collected ideas into focused innovation. However, to deploy an idea management tool successfully, teams must be engaged, action-oriented, and empowered to move ideas from the collection, refinement, and filtering stages to practical implementation and value realization. An effective idea management tool aligns with internal workflow, and culture. By integrating idea management tools with other innovation tools and functions, the organizations can raise collaboration and alignment, and increasing interoperability is essential in establishing and scaling an end-to-end innovation management process.