The first benefit a company seeks when using innovation software can seem the most logical for such software: innovate with new products, services or processes that may make the organization more competitive in its market, staying ahead of its competitors.
However, that is not the only benefit. There are many other examples, such as helping to align employees with the organization and its strategy, priorities, or actions within its corporate innovation program.
In this vein, we might also highlight another positive effect like the creation of a global culture of innovation, since software of this kind opens participation to different stakeholders (employees, clients…), and therefore makes innovation democratic.
Thinking outside of the organization, with external stakeholders such as a company’s consumers, we might also cite another advantage innovation software has to offer, in that it can help to collect insights from large audiences, providing access to greater knowledge of the market and its needs.
Let us examine some use cases in greater detail.
Innovation with employees geared toward a cultural change
If change is built from within an organization, to be effective it should mobilize all of its parts. Innovation software allows large organizations to instill values like listening to what employees can contribute, and create an appetite for new ideas.
Banco Santander is one organization that has taken advantage of this type of software to create an internal culture of innovation, involving all its employees in the company’s transformation.
Discover all the details of this success story (pdf).
Improve processes and products to become more competitive
The use of innovation software enables the establishment of a work flow around the ideas an organization generates, from their origin to the implementation of the best ideas as specific projects.
Along these lines, Banco Sabadell has been building a corporate program with employees for a decade, on the foundation of its internal innovation community Bs idea and ideas crowdsourcing.
In that time, close to 90% of the bank’s employees have participated with their ideas in the improvement of internal processes, products or services. Several of those ideas have made an impact on the company’s business, among which are quick wins like the fusion of two existing products that provides a recurring annual profit of two million euros. [see case study].
Co-creation: innovating with the client to create loyalty
As mentioned above, innovation software allows a company to look beyond its walls and connect with large groups of consumers to collect quality insights and ideas on a specific market.
For example, the Hotusa Group uses its community Hotel Tester Ideasto drive its consumer listening program, which has allowed the hotel group to gather valuable information like the 10 things clients would like to be offered as hotel room service.
This community has also become a powerful marketing and loyalty-creating tool in the group’s relationship with existing and potential clients. (see case study).
Participation and engagement with large audiences
Technology is contributing to a change in the way citizens see politics and (good) governance. Citizens demand more open, participative and transparent administrations.
That is the case in Santander’s City Council, which uses the community Santander City Brain to involve citizens in the city’s transformation.
The ideas shared in the community have given rise to several projects that have become part of municipal policies, such as the integration of suggestions made by neighbors into the city’s Tourism Plan 2015-2020, the development of a navigator with accessible routes for people with reduced mobility, or an App that notifies users about the condition of the city’s beaches.
Download the success story.
Intrapreneurship to transform from within
Lastly, promoting corporate entrepreneurship programs is another common use for innovation software. Such is the case for Calidad Pascual, a company in the consumer goods sector that builds its intrapreneurship program “Pascual Startup Intraemprendimiento” through a community open to its employees’ ideas.
The organization detects and promotes the development of the best ideas with their authors, under the mentorship of a group of experts. Apart from obtaining business ideas and competitive advantages, this program contributes to an increase in employee engagement through active listening. (see case study).