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What does "managing innovation" mean?

Innovation implies change, which is sometimes a scary word for companies that have been growing successfully over the years. The era of digital transformation is forcing organizations to reconsider the way they work, the products they produce, the services they offer, their business strategies and even their internal processes. Being aware of the need to change does not mean that you are ready to face it.
Making the decision to introduce an innovation program is your first step. As a current or future innovation manager, there are several crucial factors you need to consider in your planning to build, start, and run a successful and sustainable innovation program, including how to choose the right innovation management solution.
Link to download the innovation management solution buyer's guide

Why choosing the right innovation management solution is crucial

The word SOLUTION is the most important word in this question. SOLUTION refers not only to a technology platform. It is equally important to consider the ecosystem around the solution - including robust, rich features to support your innovation, proven, best-practice processes, and experienced people to provide guidance and support.
Since 2001, HYPE Innovation has provided software, consultancy services and support for innovation management programs for virtually every size and industry across the globe. Although our client's needs differ - together with the structure and scope of their innovation programs - the success factors for innovation programs are often similar. And insight and experience show that a technology platform is just one element in the ecosystem of a successful program. Which makes sense - if software were the only answer, every program would be successful!
The success of your program depends on finding the right partner for a long-term relationship based on trust and understanding. From your side, trust in the capabilities, experience, and knowledge of your partner. From your partner, understanding of your needs and wishes for the future. You should not look for a software provider but for a solution partner for whom solution means and covers a complete ecosystem.

What to consider when choosing an innovation management solution

The framework for building a scalable, sustainable, and success-based innovation ecosystem is comprised of 5 key aspects: Strategic Alignment, People, Process, Technology, and Community.
infographics of the 5 aspects of an innovation management solution

The first three aspects are part of the Collaborative Innovation Canvas framework. A full report about it is available here. The "technology" aspect refers to the platform. "Community" encompasses a wide range of activities and programs, including collaboration with industry experts, hands-on support, practical tutorials, workshops, innovation forums, and other guidance to help you and your team learn and implement best innovation practices (and understand how to avoid common pitfalls).

For insight about the complete framework, together with the top 10 essential selection criteria and a vendor comparison checklist, download the definitive buyer's guide by filling out the form below. ↓

Mockup of the buyers' guide

Get insight about best practices and tips for evaluating and choosing an innovation management solution. Fill out the form to download our guide.