Did you know that the global idea management software market size was valued at USD 1115.24 Million in 2022 and will reach USD 2210.22 Million in 2028?
The fervent application of the best idea management software by large, small and medium-sized Enterprises (SMEs) has influenced the path of the industry.
Considering the unlimited and impactful benefits of idea platforms, the 13% CAGR is foreseeable. To mention a few of the benefits:
In-house Growth
Idea platforms, internally, empower every employee to innovate. You capture a plethora of ideas to:
- transform organizational processes,
- engage customers and business partners,
- empower a culture of innovation,
- boost cross-functional collaboration.
You overcome organizational challenges and remove silos to stay agile in the rapidly changing environment.
Business Growth
Once you have an innovation program in place, you’ll not only receive ideas capable of turning into full-blown inventions, but:
- get diverse revenue streams,
- increase sales and marketing outcomes,
- improve product and services,
- optimize the product range
Employee Satisfaction
Reasons employee stop sharing ideas:
- You’ve made it difficult to share ideas
- Your employees already have a lot on their plate
- Silos are ruining it for everybody
- Your employees never heard back from you
- They are not sure why they should share ideas
- You follow a top-to-bottom approach
- Your appraisal system might be turning into an obstacle
And, the solution to all of these problems is an idea management system dedicated and customized to do all the work for you. Literally, every possible hurdle gets resolved automatically through an automated, cloud-based, multi-platform compatible, and AI-powered tool.
Future-proof Development
Since the market is uncertain and demands staying on your toes and innovating consistently, idea management systems help create an idea repository. A repository that can be used anywhere and at any time as situations arise. Basically, you don’t necessarily need to look for innovative solutions when the problem is already on your head. You’ll already have a foolproof innovation pipeline to support market shifts and demands.
Steady ROI
Once you have software of ideas in place, the return on investment is not only monetary comprising hard value, but also:
- Soft Value: Hard to quantify in terms of cost savings and effectiveness, but clear in terms of:
- High employee engagement
- High employee retention rate
- Improved efficiency
- Time savings
- Cost avoidance
- Increased collaboration
- Stakeholder engagement
- Other Value: Such value is more binary and can be seen in terms of:
- Decreased risk of idea thefts
- No data breach
- Compliance to regulatory requirements and standards
- Secured data repository
- Cloud-based access
So, without waiting any further, let’s look at one of the best idea management tool available in the market today.
Best Idea Management Software with Free Trial Access
InspireIP was founded to help the most ambitious change-makers unlock the full innovation potential of their enterprises and organizations.
We started with an agenda to showcase the impact of a well-built innovation program with the right SaaS-based idea management platform. Now, we work alongside top innovation leaders to align their business and innovation strategy.
Sign up here for your 30-day free trial (No credit card required and no commitments).
Our idea management software enable our clients to tackle today’s urgent challenges, such as:
- Capturing ideas
- Fostering cross-business unit relationships
- Demonstrating inclusiveness
- Protecting their intellectual property
- Preventing idea theft
- Bringing frictionless transformational change
- Staying ahead of the competition
- Creating new market spaces
Idea Assist is an AI-powered, cloud-based idea management software that offers the best of both worlds—idea and innovation management. The system was conceived and developed by Sam Zellner, a highly accomplished inventor with extensive innovation and intellectual property experience.
Let’s take a look at some of the core features to help you get started with your free idea management software trial.
Idea Capture
People conceive ideas at different times, on different days, and in varied situations. The best idea management software with built-in custom features and multi-platform access makes innovation intuitive.
Idea submission software integrates with popular platforms like Google Chat, Slack, Microsoft Teams, and so on to ensure ideas are not lost. Idea Assist with built-in one-click idea capture feature allows even the busiest teams to capture innovation effortlessly.
Our Light Idea Submission Structure (LISS) requires only a title, description, and attachments, making idea sharing quick and easy.
A person can think of an idea, but teams turn that idea into an effective solution. Working together is the only way for sustainable innovation management. InspireIP promotes teamwork with its Innovation Team Builder™ feature, which encourages idea contributors to engage fellow employees.
Innovation Challenges
Incorporating automated innovation challenges in your idea management process enables you to gather solution-focused ideas for specific challenges. They are a level up from capturing general ideas liberally. Innovation challenges are meant to collect solutions within a time frame and implement them swiftly to out-run the competition. Idea Assist enables you to:
- Focus on the area that needs immediate improvement
- Describe the challenge in detail
- Give specific instructions on why employees must participate in the challenge
- Foster real-time collaboration
- Acknowledge, appreciate, and reward valuable contributions
- Take a leap of faith and start innovating
Related Read: How to Run an Innovation Challenge? (7 Proven Ways)
Idea Management
Routing ideas to the right person is more important than capturing the ideas themselves.
Unlike traditional methods, such as emails, chats, calls, sessions, hackathons, and so on, InspireIP’s Intelligent Routing uses each idea’s metadata to get them to the right evaluator. Evaluators then assess ideas to send them directly for implementation or route them for deep analysis.
The system continuously tracks the idea timeline and keeps every stakeholder informed, promoting transparency and removing silos.
No more idea black holes!
Advanced Reporting
InspireIP’s reporting helps you answer fundamental questions:
- Are employees participating in the innovation process?
- Are teams submitting ideas?
- Which business units are contributing the most to business challenges?
- Which part of the business do these ideas address?
- What is the status of each idea in the funnel?
- What percentage were rejected and why?
- What percentage were pursued, and what is their potential value?
- Who are the top innovators in the organization?
Pricing
InspireIP’s pricing structure is unique and aligns the benefits generated with the costs incurred for the innovation service.
Our approach encourages company wide participation as opposed to the common industry practice of charging per user. InspireIP offers three pricing options:
- Starter: $150/month,100 users
- Pro: $495/month, 500 users
- Enterprise: Contact Us
You can dip your feet with your free idea management software trial. Sign up -> here!
Onboarding
Implementing a new idea management system or innovation program can be costly and time consuming. Idea Assist implementation starts right away with no training required. It’s intuitive UI guides you as you go.
Essentially, our free idea management software trial will enable you to see how we help in:
- Establishing our clients as innovation leaders
- Building an innovation culture that supports intrapreneurial ventures
- Enabling effortless invention disclosure
- Supporting ideas to turn them into full-blown inventions
- Increasing enterprise sustainability
- Enhancing employee engagement and participation
- Optimizing connectivity and networking
- Prioritizing internal growth as much as building new products and services
- Securing and safeguarding rich knowledge
- Monetizing through ideas
