Innovation may seem to be an informal, flash-of-inspiration type occurrence, but there are people out there actually attempting to automate and systematize it. In fact, there is an emerging class of software —somewhat similar to project management tools—that is designed to help employees and managers act on the ideas, to move them through organizations, get financial support and eventually be productized.
There are different names for this new category, including “ideation” products and “Innovation as a Service.” But the goal is to bake innovation more thoroughly into corporate operations, so that as flashes of brilliance erupt, they can be captured and channeled and acted upon.
Sounds awfully idealistic, doesn't it? That was my reaction as well until I spoke with Luis Solis, EVP for growth & innovation at
Businesses are not only interested in software solutions to better capture innovation, but many of these companies are insurance carriers. One such carrier, the
From the outpouring of employee ideas, Chubb was able to identify the top 24 ideas from the 607 that had been collected and submit them to rigorous review and testing as a prelude to funding them. A cross-functional team—drawn from Chubb units around the world—managed the review process. Each member of the team was designated a “case manager” for one of the 24 final ideas, and worked with the original sponsor of that idea to create and present a 15-minute pitch to the team. Of the top-four-rated ideas, two concepts—representing significant revenue opportunities—have already been funded and are under development.
Sometimes, all it takes is a little imagination to get to innovation … and some collaborative software to help the process along.
Joe McKendrick is an author, consultant, blogger and frequent INN contributor specializing in information technology.
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