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Top 5 Tools to Build and Implement Your Innovation Strategy

Strategy

The process of setting up a corporate innovation strategy includes a lot of moving parts like establishing a vision, defining goals, and positioning the program for success.

The good news is, you don’t have to do it alone.

For everything from understanding the true cost of innovation to testing and evaluating new technologies, advanced solutions exist to help you and your company implement a more successful innovation strategy.

With this list of five essential innovation tools, you can create a corporate innovation strategy that will drive your company to higher levels of success, all while remaining in complete control of the entire process.

The Enterprise Innovation Calculator

When creating an innovation strategy, it can be difficult to grasp exactly how much the whole process is costing your company.

How much is your company spending on innovation?

The Enterprise Innovation Calculator gives you a clear and tailored picture of how much time and money your company spends on innovation, and how those resources are divided, by mapping out each stage of the innovation process and allowing you to fill in your company’s information.

Beyond the dollar amounts and allocations, the real advantage of the Enterprise Innovation Calculator is the resulting report with graphs and an analytical breakdown to both visualize your innovation spend and give actionable tips on how to make your innovation activities more effective and more efficient.

Innovation Calculator

This process allows you to have a better understanding of what your innovation process looks like from beginning to end, and present concrete data and tangible suggestions for success to the decision-makers at your company.

Calculate your innovation spend with the Enterprise Innovation Calculator

Wellspring: Technology Scouting Platform

An important part of any modern innovation strategy is undoubtedly open innovation, or looking outside of your company for technology solutions that can boost your company’s services and productivity. 61% of businesses utilize some form of open innovation, and that number continues to grow.

Wellspring offers a way to easily search new technology research such as inventions, patents and licensing opportunities.

Wellspring’s curated collection of databases and intuitive platform allows you to get away from messy spreadsheets and shared folders to a more productive and organized technology scouting process.

prooV: Proof-of-Concept Platform

Finding compelling technology solutions and knowing that they will be compatible and scalable on your company’s unique infrastructure are two entirely different things.

Innovation growth

Proof-of-concepts (PoCs) are the best way to test-drive technologies to understand whether you want to move forward with them, but they can also be an arduous, costly and lengthy undertaking.

prooV changes all of that with an end-to-end proof-of-concept solution that streamlines the proof-of-concept process.

The centralized, cloud-based platform takes the financial and logistical burdens off of your company’s innovation team, allowing them to focus on bringing the company’s innovation strategy to life.

Innovation focus

Using prooV to run proof-of-concepts means having the ability to run multiple PoCs simultaneously that can each test and evaluate several technologies, shortening the time to completion for each of those PoCs, and making informed decisions based on custom evaluation metrics that you define.

Easing the proof-of-concept process with prooV cuts down the time spent and energy wasted on inefficient processes and keeps you in control of your innovation future.

Octopus Deploy: Implementation/Deployment Tool

Having a successful innovation strategy means being able to act on the knowledge and data you get from platforms like Wellspring or prooV.

This is where Octopus Deploy comes in.

Octopus Deploy allows you to automate even the most complex tech deployments and track your progress through an easy-to-use dashboard.

Using this tool, you can smooth out the IT process of deploying innovation initiatives. Octopus Deploy helps manage the entire deployment process to make it as simple and painless as possible.

WalkMe: Adoption and Education Solution

Now you have found an amazing technology solution, tested its viability in your unique ecosystem, and assured its successful deployment, but both your employees and your customers still need to know how to use it.

WalkMe is the bridge between digital technologies and human users. Their step-by-step walk through tool allows your company to take a proactive approach to product education and adoption so that internal and external users will feel comfortable using the new technology.

In addition to walking users through new interfaces, WalkMe allows for increased data collection in order to understand user habits and promote higher levels of productivity.

Your company gets the benefit of increased user satisfaction, while also being able to track what issues may need attention in the future.

Blazing Your Path to Innovation

Creating a unique innovation strategy that helps to ensure your company’s longevity while opening up new opportunities for productivity and revenue can be extremely tricky.

Every business faces unique challenges and opportunities, but there are definitely common technological advances that any innovating enterprise can take advantage of.

With this list of integral innovation tools, you can create an effective corporate innovation strategy that will evolve with your business.

About the author

Joanna Alter is the Head of Content at prooV. She is fascinated by the process behind everything from songs to sunsets to softwares, and thinks coffee tastes best on ice.