Trends Report

The Rise Of Innovation Management Tools

Diverse Vendors Converge To Help Firms Drive Continuous Innovation

July 14th, 2008
With contributors:
Christopher Andrews , Navi Radjou , Janine Liu

Summary

In a recent global study, 93% of senior business executives cited innovation as a top strategic priority. Why? A globalized economy and the pervasive Internet are accelerating the winds of change buffeting today's enterprises. To stay ahead of constant change, CEOs are clamoring for continuous — not ad hoc — innovation. In response, a new market for "innovation management tools" is emerging. The providers in this space share a vision of continuous innovation as a core business discipline to be actively managed — not a technical problem to be solved. Therefore, this new market's key offerings are the tools — software backed by domain expertise — that provide leverage in executing on this vision of continuous innovation. To succeed in the long term, innovation management tool providers must abandon their platform ambitions and plug into well-established enterprise software platforms like Force.com, Microsoft, Oracle, and SAP.

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