New Sopheon Software Links Idea Development to Strategic Product Planning and Execution
Idea Lab™ Expands Capability of Accolade® Software Suite to Support Front End of Innovation Process
Sopheon, the international provider of software and services for product lifecycle management, today announced the introduction of an addition to its flagship software system, Accolade, designed specifically for use in generating, nurturing and developing new product ideas. Called Idea Lab, the new solution is the result of a partnership between Sopheon and Hype Software, a German-based supplier of idea management software for product development. According to Sopheon, the offering expands Accolade’s capacity to strengthen the early stages of product innovation, and creates the first software solution in the industry to provide all-in-one support for strategic product planning, ideation and innovation process execution.
A Complete, Virtual Laboratory for Idea Development
In most companies, ideation efforts suffer from a lack of focus: too many ideas and not enough resources to implement them. Organization and prioritization are essential to the generation of value. Idea Lab allows users to electronically arrange promising ideas by categories such as innovation type, product line, enabling technology or target market, making it easy to find those that are relevant to specific business issues. Ideas can be ranked, merged or rejected, and similar ideas can be organized inside portfolios for further evaluation. Contributors are incented by the solution’s built-in reward and recognition mechanisms.
An Incubator for Breakthrough Product Innovation
Because Idea Lab is a component of the Accolade software suite, it is easily connected to the solution’s broader capabilities, including product planning, product portfolio management, and innovation process automation and governance. This integration surmounts the challenges of transitioning from one process stage to another. At the front end of the innovation cycle, Accolade’s Vision StrategistTM component delivers automated support for the development of strategic product plans. The plans feed into Idea Lab, where they become part of the litmus test for evaluating the strategic fit and viability of submitted ideas. The most promising concepts seamlessly migrate from Idea Lab into the user’s Accolade-supported gate- or phase-based innovation processes, ensuring that they are not fumbled in the hand-off and reducing the time it takes to turn ideas into products. Accolade also subsequently supplies the product portfolio management, commercialization and post-launch support required to manage newly created products until they are retired from the marketplace.
“Innovation isn’t about the number of ideas an organization generates,” said Bryan Seyfarth, director of product marketing for Sopheon. “It’s about business outcomes and results. With the addition of Idea Lab, Accolade allows organizations to draw a direct line between ideation and revenue and profit growth.”
Idea Lab is available immediately for purchase and implementation as part of the Accolade software suite.
Accolade® is a registered trademark of Sopheon plc.