Idea management software vs innovation management software
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Innovation management and idea management are both essential to ensure the long-term existence of an organization. Understanding the different terms and understanding the value of both concepts is crucial to correctly execute these concepts. In this article, I will make the distinction between the two concepts, then I will explain how different software platforms are facilitating the process of idea and innovation management, specifically in comparison to GroundControl.
What is Innovation Management?
When we talk about innovation management, we refer to the management of what we call the innovation ecosystem. This includes idea process management, portfolio and investment management, the measurement of the process, and the reporting of the process. In other words, Innovation management is a broad concept that also includes idea management. At GroundControl we mainly talk about innovation management that pursues the search for new business models. We call it startup innovation. Esther explains this deeply in her types of innovation blog.
What is idea management?
Alright, so Idea management is a part of innovation management, but what is it exactly? Idea management is the process of idea gathering, idea processing, and implementing ideas. Idea management lays at the heart of every type of innovation. But, different types of innovations require different types of management. This is logical because an idea for a new business model is completely different from an idea that will improve the core business, and so, it needs to processed and managed differently. That is why different types of ideas and innovation management software are needed.
The result is that you can find tons of idea and innovation management software in the market. In the rest of the article, I will elaborate more on some differences between GroundControl and other ideas and innovation management software.
Glidr.io Vs GroundControl
Glidr.io is a product validation platform to figure out which ideas are viable and which ones are not. The platform is suitable for all types of idea validation-related projects. This is directly the first distinction between Glidr and GroundControl. Where Glidr.io is functional for a broad target group, is GroundControl the most valuable to innovation labs and corporate venture builders that have multiple projects going on. The value of Glidr is in running experiments and sharing the outcomes with the whole team. Glider uses customizable roadmaps, which makes it clear what to do when to do it, and in which order. Glidr has some more features, but these are in our opinion the most valuable.
GroundControl aims to validate ideas as well. But instead of a roadmap, we work with a model that is based on stage gates. Although this process is not linear, it is helpful to create a logical order in the validation process. The stages help to know where your teams stand and how the progress is going. So far, this is not very unique. Where GroundControl’s value comes in, is with the use of Innovation Accounting. When the teams execute activities, GroundControl automatically creates Key Performance Indicators. With these KPIs, innovation managers can make more informed decisions on startups, management, and strategic level. It can even be used as the basis for a VC investment approach.
Viima Vs GroundControl
Viima is an idea management software that helps you transform ideas into real innovations. The platform is built to support the process of gathering ideas, prioritizing them, refining and developing the ideas. It is also possible to analyze the process and make it more fluent by removing bottlenecks. The difference with GroundControl is that Viima software is mainly for ideas that incrementally improve the core part of the business. GroundControl is designed for the validation of new business models and is not to gather ideas or prioritizing them.
When looking into software for innovation, it is important to determine what type of innovation you need management software for. When you are looking to improve the current business model, you might want to go for an idea management software like Viima’s. If you aim to find new business models and validate them, then take a look at innovation management software.
Consider what your problems regarding innovation management are, and which features can provide a solution for those problems. GroundControl and Glidr both support the experimental part of the process as well as the measurement of it. But Glidr’s aim is more on the validation of ideas and sharing the learnings with team members. While GroundControl’s value is in managing multiple initiatives using a stage-gate model that is aligned with Innovation Accounting. This makes the management and coaching of the projects data-driven and it forms the base for a VC investment approach on innovation.
This blog will be improved continuously with new insights and more comparisons.
Seim is Growth Hacker at GroundControl. After studying digital marketing he decided that helping new businesses grow gives him the most energy and satisfaction.