The best platforms will facilitate innovation from end to end, leaving nothing to chance. From boosting participation, to offering a standardised testing process and portfolio management tools, it ensures great ideas evolve into profitable new products and services, as well as money-saving incremental changes. It has AI smarts and is fully tailored to your needs. Pick one that’s straightforward to install, and easy and enjoyable for end-users to engage with in their language. But the benefits don’t end there. Check out our website or book a demo.
Ideation is all about tapping into the knowledge of the crowd – the bigger the crowd, the better. Closed platforms are only open to your own employees. A smaller crowd in other words, but good if you need to keep close control of the information being shared. During external idea challenges, you may give away information to the competition. It needs a higher risk appetite. The potential gains are greater too – you’ll be gaining insights from a wider group of people with different perspectives on your organisation and your industry as a whole.
A: The best innovation platforms make it easy and fun for people to participate. Single sign-on is key here – no fussing with multiple passwords or complex steps. Just sign in and you’re ready to submit ideas, enrich others’ ideas with feedback, and explore past and current innovation projects. Read our blog for more information.
Many companies find a user-friendly platform which includes flexible tools + set-up assistance enough to start developing actionable ideas and build an innovation culture. For organisations that would like more support, KPMG provides consultancy on change management, effective communication and strategy – three weeks is often enough. Contact us for more information.
Yes we do. During the ideation process, AI ensures participants are linked to the innovation projects in which they have expertise and interest. That way, new ideas can quickly be enriched with highly valuable feedback. The more people participate in the platform, the more detailed their profile and the better the interest matching becomes. Because this process often involves cross-departmental and cross-regional collaboration, it will also strengthen your innovation culture.
Different organisations need different processes depending on their size and the scope of their innovation needs. In any case, having a standardised innovation process throughout your organisation is key. It will facilitate participation, and ensure you can evaluate projects rigorously and transparently.
Innovation starts by setting parameters – what we call innovation domains. Do you want to concentrate on how to use renewable energy? Is your organisation struggling to access a new market? Or does a particular department need to become far more efficient? Frame the questions you put to your participants. This helps guide people’s thoughts so you are more likely to end up with actionable suggestions during the actual idea challenge. Find out more here.
Always start with the problem. Then let others share insights and expertise to start creating potential solutions. Our quick and dirty evaluation tools can help here – they allow participants to score ideas and share feedback independently. But evaluation goes way beyond that. Once strong ideas are picked up as innovation projects, you’ll want a dedicated committee to test and assess projects according to an agreed set of exacting KPIs. Find out how Heineken put this into action.
Continual innovation will deliver a constant stream of ideas for your product pipeline. Participants become more and more adept at using the platform, and it optimises with use as it gathers data. Over time, the platform becomes an invaluable archive of ideas. Teams can mine it for lessons learned from successes – and failures – to incorporate into current projects.
Select an AI-powered ideation tool which enables automatic idea matching in real-time. When a participant submits an insight, keywords are matched with previously posted ideas and he or she is prompted to contact the authors of matching submissions. Together, they can then produce a hybrid idea to take forward. Duplication is avoided, saving time and money.
Our multilingual platform makes it easy to participate. Single sign-on is a must for busy people, while gamification helps to keep things fun. One-click submission means there’s nothing in the way of them sharing their ideas and insights. And share stories about successes and failures to create a buzz! Find out more about the power of the crowd.
Building an innovation culture keeps people engaged. Ensure top-level involvement: C-suite sponsorship and other ways of demonstrating management support is a great motivator. Be transparent about all the steps in the process – from ideation through testing to implementation. But above all, use the platform’s communication tools to keep everyone updated about initiatives and eager to keep participating.
Choose an ideation tool which enables mutual interest matching. Based on the profile participants fill in and their behaviour on the platform, AI can ensure people with expertise in particular areas are alerted when relevant ideas are posted. These specialists are invited to share their knowledge and give constructive feedback. By enhancing potential benefits and uncovering obstacles, actionable ideas can quickly be improved and unfeasible ones abandoned.
We see this issue frequently – luckily there are solutions. For instance, provide a user-friendly and multilingual platform. Build a culture where everyone free to share ideas. And ensure management buy in. Daunted? These solutions are well worth the investment in terms of the actionable ideas generated.
Good question! We see that the process varies strongly from organisation to organisation. The clearest indicator of progress is a project’s gradual derisking, achieved by obtaining as much information about it as possible. During the development phase, gather data fast on whether a product or service is viable, feasible and desirable. Examine viability through cost-benefit analysis and testing the business case. Test feasibility by looking at whether it is practicable to produce. And desirability through market research – is there sufficient need for it in your target market? Our platform’s canvas tool can help drive the assessment process.
Congratulate them! It may sound counter-intuitive, but the assessment phase is exactly when you should be identifying ‘bad’ ideas. Not after they have been through an expensive market launch. Teams should test, test and test projects using our stage-gate funnel. The greater the number of obstacles they uncover, the better they are doing their job. They can then find solutions – or decide it is more cost-effective to abandon a particular project. Ensure they archive projects – both successes and failures. That way they can be accessed for future reference to avoid repeating expensive mistakes
Great ideas are just the beginning of the innovation process, as you are finding. Now it’s time to test each idea scrupulously to see if it is feasible, viable and desirable. Our clients, engineering multinational Royal Haskoning DHV, faced the same issue. Read this blog to discover how they solved it with a stage-gate funnel
The first step is selecting the categories for assessing your projects as they move through your stage-gate funnel or other evaluation processes. These might include which department they are designed to benefit, whether they are horizon 1, 2 or 3, and the expected cost reduction or increased profit. The winner is the one with the best risk-benefit ratio.
We’ve seen many organisations struggle to track projects. That’s why our portfolio management function allows you to follow dozens of projects concurrently, no matter where they originated in your organisation. You can set a standardised development process and KPIs to keep things transparent. It’s all about building a balanced portfolio. This function helps ensure you are running a balanced number of projects according to risk profile, business unit and region, phase of development, etc.
Some ideas can be implemented fast. One client, Vodafone, launched an projects within a month. Suggested by one of their engineers during an internal innovation challenge, it saved them over a million dollars a month.
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Royal Haskoning DHV is the project manager behind Mexico City’s new international airport and the 55-kilometre Hong Kong to Macau bridge. It specialises in finding innovative solutions for its customers. Managing those insights internally proved difficult: projects were duplicated and best practices not shared.
Thanks to Innovation Factory’s innovation funnel, the engineering multinational now has clear oversight of all of its ideas and can extract maximum value from them.