The Best Idea Management Software
and Its 8 Essentials

Ready to find new profits and turn valuable ideas into reality?

It all starts with the right idea management software, also called innovation management software. The best idea management software helps you to unravel all your employee ideas and the external crowd’s potential. Having the right idea management tool in place shapes a company’s culture into an innovation culture.

This article explains the eight essentials that characterize the top idea management tools. These eight essentials will help you run a winning innovation process.

In a nutshell: The 8 essentials and 4 application areas

What is idea management software?

Idea management software is a digital playground for your company's intelligence and innovation process. The best ideation software unites more specific solutions. It unites start-up databases, crowdsourcing platforms, innovation management software, or project management software.

Idea management software helps you manage ideas. It helps collect ideas, organize ideas, and refine them fast. It helps you keep your teams and the entire organization connected and on the same page.

It thus improves your idea management process. From early-stage brainstorming to detailed execution, these tools turn “what if” into “we did it!”

Picture this: your team works in different locations, and you have many idea management tools in place. The scattered tool landscape reduces their creativity.

The right idea management software provides only one central access point. This will allow creativity to flow and that no idea falls off the table. This is where great ideas turn into actionable plans.

These idea management solutions allow you to develop various ideas in a structured manner. Structured submission tools, voting systems, and collaborative discussions will help you identify the best ideas, ultimately fostering innovation within organizations.

Or, your strategy team explored a new direction. You now want to find the best idea to support the strategic direction.

This best idea can come from external collaborators, employees, or partners. The best ideation software provides you with a central place where all these ideas meet. The right ideation software will ease and fasten developing ideas and involve the right experts as needed. By this, you will prioritize the right ideas, increase your chances of success, and cost efficiency.

Idea management software emerged as a response to age-old classical employee suggestion boxes. The old idea boxes limited transparency and creativity. Neither idea submitters nor evaluators had an idea of what happened with employee ideas. No one could also easily sort out similar and recurrent ideas.

Reaching out to an external audience was impossible at all. Idea management software took away these problems and increased efficiency dramatically.

Today’s best ideation platforms even integrate artificial intelligence capabilities and ease to develop ideas and idea evaluation. They capture ideas and feedback from diverse sources. This requires the right collaboration tools to streamline the idea generation and innovation process. They turn a company culture from rigid structures into open-minded, connected systems.

Managing ideas effectively through dedicated tools and systems is crucial. These tools facilitate idea organization and prioritization, allowing companies to innovate and improve processes by harnessing input from employees and stakeholders. This enhances productivity and competitive advantage in today’s complex work environment.

The business benefits of ideation software

Digital ideation tools overcome the shortcomings of analog idea processes, idea boxes, and general business tools. A digital ideation tool significantly increases the reach, enabling more idea submissions. More people will have access and can bring in their innovative ideas.

In contrast to general business software, the best innovation management software takes its advantages and adds specific features. These features ease managing ideas, increase creativity, and foster collaboration. As a consequence, the best idea management solution is like:

• Idea post boxes - just digital – and improve transparency, and follow-ups, and reduce processing time as well as costs,
• Whiteboards, but with better structure and workflows. Preventing missing follow-ups.
• Workshops, but with easier documentation, guaranteed follow-ups, and easier idea categorization
• ChatGPT, but accessible to everyone and in a defined context
• Spreadsheets, with easier collaboration and audit trails

As innovative ideas land in a digital idea box, the idea management system will recognize similar submissions. This eases every idea manager’s job.

By showing related ideas, idea submitters can also use those as inspirations to refine their ideas. As a result, the quality of the idea submissions will improve. This improvement leads to fewer iterations and costs.

The best idea management systems advance idea submissions and evaluations with artificial intelligence. Artificial intelligence will facilitate idea submitters to formulate their ideas in easy-to-understand language.

Artificial intelligence in ideation also supports idea evaluators and provides a supportive angle. It supplements subjective decisions with evaluations based on the intelligence of the bot. This will help reduce costs and improve decision-making and innovation management.

Introducing an innovation management platform will positively influence collaboration and engagement. Typically, everyone has an idea to share. Yet, they might not know where to submit their ideas.

They feel that their managers do not listen or want their idea submissions. Or, they fear that no one will follow up on their ideas. The best ideation platforms will eliminate these concerns. This will positively influence the innovation culture by capturing and evaluating valuable ideas from employees and customers.

Plus, the best ideation software fosters collaboration. The best ideation software will seamlessly recommend the best expert.

This expert can help evaluate the idea. The expert yet can also serve as a mentor and help improve the idea. This will reduce costs.

With best idea management platform, Idea submitters will find an easy-to-access home for all ideas. This improves creativity and employee commitment.

By seeing ideas from diverse backgrounds, everyone can build on the input of others. This will help analyze and refine all ideas easily. While this spurs collaboration, it also spurs idea submitters’ relations with the company. This will have a positive return on retaining the best employees.

Beyond internal crowdsourcing: The 4 idea sources covered by the best ideation software

Typically, idea collection means collecting ideas from employees. As employees know best the corporate situation, this approach was the only ideation process for a long. However, the sources of the best ideas are more manifold. Ideas can also come from customers, partners, universities, start-ups, or an unknown crowd.

The best ideation software allows the intake of ideas from any source. Moreover, most idea management software allows users to vote on ideas. This creates a ranking system to prioritize ideas easily.

This voting mechanism is essential for assessing which submitted ideas gain traction within an organization. Such gamification will also contribute to a more democratic and engaged idea generation process.

It builds an easy access point for any idea. And, it funnels the idea to the ideation process where the idea best fits in. Let us move into the details of the four idea sources:

1 - Internal crowdsourcing and employee suggestion schemes

The top idea management software simplifies the idea collection from employees within or across departments and locations. With easy-to-use interfaces, employees can quickly submit their suggestions, no matter how revolutionary or incremental. This lowers the barrier to participation. And, it thus ensures that every voice has the chance to contribute to the company’s innovation culture.

Organizations can create a transparent and collaborative environment by using an idea management tool. Employees can not only submit ideas but also view, comment on, and vote for suggestions from their colleagues.

This level of engagement fosters a sense of ownership and community, where employees feel like their contributions matter. With real-time collaboration features, ideas are no longer isolated in silos. The increased collaboration will help improve and refine the submitted ideas.

The best idea management platforms often integrate gamification elements to make internal crowdsourcing and employee suggestion schemes more engaging. These can include leaderboards, badges, and rewards for submitting ideas, voting, or collaborating on projects. The addition of fun and recognition will motivate employees to participate more actively and submit new ideas.

The idea evaluation and follow-up are important aspects of any employee suggestion scheme. Idea management software provides tools to assess ideas based on criteria such as feasibility, impact, or cost-effectiveness.

Automated workflows help managers review and prioritize suggestions efficiently. Moreover, employees receive feedback on their submissions. This helps them understand how evaluators process their ideas. This encourages continuous engagement.

By using ideation software, organizations can create an efficient, engaging, and rewarding platform for internal crowdsourcing and employee suggestion schemes. These tools capture every idea and ensure their evaluation. This is the backbone of meaningful change within the company. Through collaboration, gamification, and structured feedback, the software captures great ideas and fosters a culture of continuous innovation.

2 - Peer idea sourcing: Customers, partners, and suppliers

The best idea management tool is a powerful software for peer idea sourcing. Peer idea sourcing enables organizations to tap into the creativity and valuable insights of their customers, partners, and suppliers.

The right ideation software provides a centralized platform. Here, innovative idea collection happens from various external sources, including customers, partners, and suppliers. The best software offers a dedicated space for customer feedback or partner feedback. It thus eases idea capturing from diverse perspectives.

This can lead to groundbreaking innovations. It also makes management and follow-ups more efficient.

The best idea management tools break down traditional barriers between a company and its external stakeholders. By allowing customers, partners, and suppliers to collaborate on ideas directly within the platform, the software provides a collaborative environment.

Everyone can thus contribute to and refine new ideas as granted by permissions. This cross-boundary collaboration often leads to more innovative and practical solutions. It draws from a wider pool of knowledge and experience.

The right partnership software offers flexible access controls. Flexible access controls allow companies to manage who can contribute new ideas and view certain projects. This means you can invite specific customers, partners, or suppliers to participate in idea collection without compromising sensitive company information.

Tailored permissions ensure that the right people have access to the right discussions. The right role and permission concept facilitates a secure and focused exchange of ideas.

Once customers, partners, or suppliers submit ideas, the software provides structured tools for evaluation, feedback, and project management. This ensures the careful consideration of all new ideas. Subsequently, structured project management helps in refining ideas and keeping external contributors engaged. They can see how the valuation and use of their inputs anytime.

By actively involving customers, partners, and suppliers in the ideation process, companies can strengthen their relationships with them. The best idea management system facilitates open communication and collaboration, making external contributors feel more connected to the company. This fosters long-term partnerships built on mutual trust and value creation.

3 - External crowdsourcing and broadcasting

The best idea management tool is not just software for internal innovation. The best idea software is also a powerful platform for external crowdsourcing and broadcasting. Crowdsourcing and broadcasting enable companies to reach beyond their existing networks. They can thus tap into the vast creativity of a global community.

The best crowdsourcing software offers adjustable and secure portals where anyone from the broader public can submit ideas. These portals should be user-friendly. User-friendliness ensures that people without any prior connection to the company can easily contribute their innovative thoughts.

By opening the ideation process to a global audience, companies can access a wealth of ideas. This offers a new channel that might otherwise remain untapped.

The best crowdsourcing platforms allow companies to broadcast specific challenges or calls for ideas to the wider community. Whether through email campaigns or dedicated web pages, these tools make it easy to engage with a diverse audience.

Open idea challenges help attract fresh perspectives from outside the organization. This drives innovation through the collective intelligence of people who might have never interacted with the company before.

When sourcing ideas from external crowds, the best software respects and supports the rights of contributors. Allowing unnamed submission encourages participation from individuals who might be hesitant to share ideas under their real names. This ensures that no valuable insights fall off the table.

External crowdsourcing can generate a large volume of ideas. The best idea management platform includes robust evaluation tools to help companies sift through any idea submission effectively. These tools allow for quick sorting, ranking, and filtering of ideas.

They also serve as an effective project management tool, taking the best ideas to implementation. This ensures that the most promising ideas rise to the top, ready for further development and potential implementation.

Providing feedback is essential in external crowdsourcing. The best idea management software ensures that contributors receive updates on the status of their ideas.

Transparent, continuous communication also helps maintain trust and continued participation. Contributors are more likely to engage again if they see the appreciation of their input.

Security is paramount when dealing with external contributors. The best idea management platform provides secure environments. Here, idea managers can work on the best ideas without the risk of data breaches or intellectual property theft. These idea systems also allow companies to handle numerous ideas and contributors without compromising performance or security.

By engaging with external communities, companies can forge new relationships and expand their innovation networks. The best crowdsourcing software facilitates these connections by enabling ongoing collaboration with top contributors. This can lead to future partnerships, co-creation opportunities, or even the discovery of potential new talents.

4 - AI-generated ideation

The best idea management software is evolving to harness the power of AI-generated ideation. AI-generated ideation is a trend, transforming how organizations innovate and solve complex problems.

By integrating artificial intelligence into the ideation process, these platforms enhance creativity, streamline idea generation, and free up human resources.

The best idea management software leverages AI algorithms to generate ideas automatically based on specific inputs or data sets. This AI-driven process can rapidly produce a wide range of new ideas. This will help teams overcome creative blocks and explore new directions.

By analyzing existing data, market trends, and even competitor strategies, AI can suggest yet unknown innovative solutions.

AI-generated ideation does not replace a creative process but rather complements it. The best idea management software uses AI to augment the idea management process. It can provide teams with a new starting point or inspiration.

AI can generate initial concepts that human teams can refine, adapt, and build upon in project management. This collaboration between human intuition and AI-driven suggestions leads to more diverse and innovative outcomes.

One of the standout features of AI in idea management software is its ability to personalize ideation. By learning from previous inputs, AI can tailor its suggestions to fit specific needs. For example, AI might suggest impactful ideas that align with experiences, current projects, or organizational goals. This will make the ideation process more targeted and relevant.

AI excels at recognizing patterns within large datasets, which is incredibly valuable during ideation. The best idea management platforms use AI to identify trends, gaps, and opportunities that might not be immediately obvious. By analyzing historical data and predicting future trends, AI can guide teams toward more promising ideas. This will give organizations a competitive edge in their innovation efforts.

AI not only helps generate ideas but also speeds up to evaluate ideas based on defined criteria. The best idea management software uses AI to automatically assess and rank ideas based on various criteria. These criteria are most often feasibility, potential impact, and alignment with strategic objectives.

This allows decision-makers to quickly identify the most promising ideas without sifting through a mountain of submissions manually. AI-driven idea evaluation ensures that the best ideas stand out from the mass of ideas.

AI-generated ideation opens new avenues for innovation. AI innovation software can suggest ideas that are normally outside the usual scope. This will encourage teams to think outside the box. This expanded scope of innovation can lead to breakthrough, unrivaled products, services, or processes.

Traditionally, ideation can be time-consuming and resource-intensive. AI-generated ideation significantly reduces these constraints by automating parts of the process. This efficiency allows teams to focus their time and energy on developing and implementing the best ideas. As a result, organizations can accelerate their innovation process and bring submitted ideas to market faster.

The 8 essentials of the best idea management software

When searching for the perfect idea management software, it is all about the features. To make your innovation journey smoother, here are the eight essentials that your software must have.

1. Ease of use, idea submission, and analysis

The best idea platform should be easy to navigate. It should make it easy to submit innovative ideas for the campaigns of interest. A simple, intuitive interface encourages widespread use and reduces the learning curve, leading to greater adoption across the organization.

ITONICS provides a straightforward interface, allowing users to only see the idea campaigns that matter to them. The ITONICS Innovation OS also provides an external idea submission form that does not require any login. It offers configurable submission forms. Idea submitters only need to enter the idea, and the right expert will receive it.

2. Flexibility and configurability 

Your idea platform should be adaptable to your company's specific needs. Look for software that allows custom configuration of campaigns, workflows, templates, and branding to align with your internal processes.

The ITONICS Innovation OS offers a no-code solution that easily integrates your unique processes, language, and branding. Each department can run its own idea campaigns or global innovation challenges.

3. AI, automation, and workflows

The best software harnesses AI, automation, and adjustable workflows to boost efficiency and support decision-making. AI-driven insights help prioritize ideas, while automation handles routine tasks, keeping projects on track.

ITONICS offers AI capabilities for idea generation, idea evaluation, or refining text descriptions related to any idea.

4. Collaboration and engagement

Collaboration is key to innovation. Ensure your idea software includes productivity and collaboration tools that foster team interaction and engagement, such as commenting, rating, sharing, newsletters, and gamification features.

ITONICS offers a wide range of engagement tools, motivating employees and cultivating a strong innovation culture.

5. Seamless integration

Your idea management software should easily integrate with existing tools like project management tools, CRM, and ERP. This ensures smooth information flow and reduces manual data entry.

ITONICS enables easy integration with any project management tool, streamlining your workflow.

6. Advanced analytics and reporting

Data-driven insights are crucial for tracking the performance of ideas and measuring ROI. Your software should offer robust analytics and reporting features.

ITONICS provides adjustable reporting and integrates with business intelligence tools like Tableau and PowerBI.

7. Secure community spaces 

Effective innovation management requires secure spaces for collaboration and permission controls. The software should offer dedicated team spaces and role-based access to protect sensitive information while encouraging open innovation.

ITONICS offers a sophisticated system for role and permission management, along with dedicated spaces for teams and communities.

8. Single source of truth

Navigating between multiple tools is frustrating. The best innovation software serves as a single source of truth. It integrates all aspects of the innovation process into one platform. It takes strategy into ideas and execution.

ITONICS unifies foresight, ideation, and innovation portfolio management into one comprehensive system, allowing strategy execution and a fitting idea management process.

Choosing the right ideation software

Selecting the right idea management software is a crucial decision for organizations. The right idea management software will unlock creativity and exploration of new promising business opportunities. With numerous options available, the process can feel overwhelming. 

The key is to choose software that aligns with your business goals, and streamlines idea generation and concept management. It needs to empower teams to make a real impact—whether the focus is on cutting costs or uncovering new revenue streams.

1. Define your idea management goals

Before diving into software options, you need to clearly understand your company's idea management goals. Different companies have different priorities. Some aim to boost internal idea generation.

Others want to improve customer feedback integration. Or, companies aim to speed up the collaboration process with partners like universities or start-ups. Defining these goals will help you pick the software that best fits your needs.

Take a step back and evaluate how your organization currently manages ideas. Are you relying on manual processes, spreadsheets, or outdated tools? Identifying flaws in your current system will help you determine the specific features your idea management software should offer. For instance, if ideas often fail, you need a solution with strong idea tracking and collaboration tools.

Key questions to consider:

• What are the biggest challenges in our current idea management process?
• What tools or systems are we using now to manage ideas?
• What frustrations do we have with our existing process?
• What specific benefits do we expect from adopting new idea management software?

2. Focus on essential features

Once you have pinpointed your goals and current bottlenecks, you should note the must-have features in your ideal ideation software. The 8 essentials of the best idea management software should provide you with the ideal starting point and a checklist.

While each company's needs are unique, certain core features are essential for effective idea management. This includes idea submission, idea categorization, evaluation tools, collaboration tools, and reporting features. Prioritize these based on your specific goals.

3. Research and compare vendors

With a clear understanding of your needs and required features, start researching software vendors. Look for vendors that offer the functionality you need and compare their ability to meet your expectations. Create an idea management software shortlist.

Narrow down your list by reaching out for demos or trials, which most top vendors provide. A free trial allows you to test how well the software fits with your team’s workflows. Also, seek vendors who provide thorough support during the decision-making process.

4. Check your corporate purchasing requirements

Your idea management software should not exist in isolation. Make sure to check internally and early what your corporate requirements are for purchasing software. You should also make sure that the idea management solution integrates smoothly with the tools you already have.

Inform yourself about the purchasing, security assessment, and IT process. Make sure to get a thorough understanding of the requirements of the different internal stakeholders.

Can you license the software from your department’s budget or is there a general IT budget available? Do you need to pass certain security checks? Make a list of all relevant stakeholders and note their key requirements.

5. Analyze the total cost of ownership (TCO)

Investing in idea management software goes beyond the initial purchase cost. Be sure to factor in licensing fees, implementation, training, and ongoing support or maintenance.

Understand the vendor’s pricing structure and consider any hidden costs. Balance these costs with the expected benefits and build a solid business case that justifies the investment.

The best ideation software already amortizes after the first campaign. A digital solution typically reduces the effort by at least 50 percent. This leads to significant cost savings. Plus, the winning ideas should also generate enough earnings or savings to exceed the costs significantly.

6. Evaluate vendor reputation and support

Lastly, take a close look at the reputation of the vendor you’re considering. A reliable vendor should offer continuous updates and customer support to ensure the software evolves with your business needs.

Read customer reviews, case studies, and quotes to learn from other companies’ experiences with the software. Strong support, including a knowledge base and customer service, makes a significant difference during implementation and use.

Learn here whether ITONICS is the right innovation solution for you.

Implementing idea management software

Thorough planning is crucial to get the most out of your ideation software. A successful roll-out can already fail when the first impression is not engaging. A well-thought-out roll-out plan will help you answer key questions to create an engaging first and lasting impression.

This plan should cover the scope, goals, timeline, communication strategies, support channels, and onboarding steps. Doing this will keep users engaged and set your team up for success. Here is a structured guide based on our years of experience working with global clients.

1. Define the scope of the software roll-out

When launching ideation software, two main situations will influence your activities:

• Big bang roll-out: You start a global idea campaign that speaks to all departments at once and a large audience. It is best to do this during a non-critical time, like a weekend or holiday, to avoid disruptions.
• Soft roll-out: You start a local idea campaign that speaks to a specific and smaller audience. You start with one department or user group. This soft roll-out requires targeted communication. It will allow you to gather feedback and make improvements before a big bang roll-out or launching campaigns with other departments.

2. Clarify the goals and benefits of your ideation software

Before launching the software, make sure everyone understands the benefits. Idea submitters, evaluators, and managers need to know how the platform helps them in the ideation process.

Ask yourself these questions:

• What added value does the new platform deliver to me as a user?
• Is it clear what my role is on the platform, and what tasks I would need to perform? 

Keep in mind that users may see the software as extra work. Show them how it will help capture ideas and make their jobs easier. Make the first experience with the platform simple and clear, so users know what to do and why it is important.

3. Develop a clear timeline

Your roll-out plan should include the preparation, launch, and post-launch phases. Timelines will vary depending on the size of your organization. Start with a working version of the software and make sure the timeline is flexible enough to adapt if needed.

4. Use effective communication

Good communication is key to a successful ideation roll-out. You need to keep everyone informed before, during, and after the launch.

Emails are an effective way to communicate updates and announcements as all users will naturally have access. We recommend sending newsletters straight from the ITONICS system to build trust with the system. Emails are a great way to communicate with users, but this should not be the only way.

Short videos are also useful for explaining the platform’s features. Keep them focused and engaging. Use tools like Slack or Teams to share updates and build excitement about the software. You can even share milestones on social media, like LinkedIn, to generate buzz.

Remember, communication should continue even after the roll-out is complete. Keep users engaged, share first successes, and make sure they know where to go for help.

5. Set up support channel(s)

Once the platform is online, you should be ready to receive requests and suggestions for improvements. Ask your users constantly for their feedback to ensure constant usage. This will drive motivation and user engagement. You should open a channel that makes it easy for your users to contact you.

Use the system statistics to track the activity of users on the platform. This will help you plan and monitor your roll-out and set specific goals for platform usage.

Innovate with ITONICS - Just to do it right

If you are ready to improve your idea management, the ITONICS Innovation OS is just right for you. 

The ITONICS Innovation OS is a complete solution to drive valuable ideas, implement ideas, and easy idea sharing. With ITONICS, you’ll get the best of ideation in one intuitive platform. Make sure your brightest ideas do not just sit on whiteboards—they become reality!

Use ITONICS Ideation to collect ideas and evaluate ideas based on evidence. ITONICS is the leading innovation software. Gartner mentioned ITONICS as the only vendor for automated environmental scanning. Gartner also mentions ITONICS as a representative vendor for Innovation Management Tools such as Continuous Foresight, Trendspotting, Emerging Technology Radars, and Idea Management Tools.