Spigit’s Year of Record Growth and Release of Industry–First Capabilities

By Gareth Bradley | Spigit
February 13, 2018

Spigit’s full lifecycle idea management software takes a monumental step forward today capping off another year of record customer growth.

We’re thrilled to announce the latest product release that boasts enhancements and industry-first capabilities that will enable Spigit clients to take their ideation programs to the next level.

Here’s a closer look.

Full lifecycle idea management

At Spigit, we go beyond just helping clients get to the best idea and now provide capabilities to allow them to manage a portfolio of ideas, track their progress, measure their value, and deliver higher impact. Innovation teams use Spigit to evaluate and track all ideas in the pipeline, from their original conception to the moment when the organization commits to put the most promising ideas into practice.

With this latest Spigit release, it’s now easier than ever to:

  • Ideate with employees, customers, partners, or the general public at scale
  • Manage and track ideas through their entire lifecycle
  • Vet and select the right ideas for further development
  • Have visibility into a portfolio of selected ideas

As our clients build a portfolio of selected ideas, Spigit supports them through the implementation lifecycle as they decide which investments to make. We provide visibility into and tracking of key business case elements such as strategic impact, estimated revenue, cost, and risk. As concepts are further developed competitive assumptions, required resources, and success criteria, and more can be tracked. This ultimately feeds into prototyping and implementation.

In other words, companies can manage the entire lifecycle of an idea with Spigit – from idea to impact. Whether the goal is to create a sustainable innovation practice or transform culture, this brings an incredible level of visibility and transparency to the entire innovation lifecycle.

Benchmark your way to ideation success

The process of being innovative as an organization is a cultural thing; it’s a habit. If the people within your company develop that habit – and if your culture includes a process to turn their ideas into reality – then your company is innovative.

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Fostering culture is so important, we undertook a comprehensive data study last year with Northwestern’s Kellogg School of Management to identify how to quantify a culture of innovation.

With more than 6 million users across 170 countries in Spigit’s database, we examined five years of anonymized data resulting in the most comprehensive quantitative study of corporate innovation.

This groundbreaking study, which was covered in Harvard Business Review and MIT Sloan Management Review, showed that a culture of innovation can be measured – with a 99% statistical confidence level – by a metric we call ideation rate.

We didn’t stop there!

Combining the data gathered from the study with data from our annual Business Innovation Reports, along with other data points, we are now delivering the first industry benchmarks in an idea management solution giving an unprecedented level of actionable insights.

What this means for Spigit customers is that they can now see how their ideation program stacks up against their peers, as well as industry leaders. On top of this, they will have visibility into the exact levers they need to pull to make improvements in areas that are below average, such as the number of ideation challenges ran in a year.

The level of detail in these new benchmarks will help companies take a more proactive approach to creating innovative cultures.

General Data Protection Regulation (GDPR) support

At Spigit, we take security and privacy extremely seriously. This is why we’ve worked hard to ensure we pass the stringent protocols demanded by national governments and the largest financial institutions in the world.

To continue bolstering privacy, we’re proud to say that Spigit can now support your General Data Protection Regulation, or GDPR, compliance

What does GDPR mean? It’s a collection of data privacy and data protection laws enforceable for anyone that handles data originating from Europe. It aims to give back control of personal data to citizens and residents.

Final thoughts

With this latest product release, Spigit is uniquely positioned to help enterprises scale their ideation efforts and create innovative cultures with technology that gives an unprecedented level of transparency, visibility, and actionable insights.

We look forward to another great year of working closely with our customers to help them drive growth, innovation, and cultural transformation!

Gareth Bradley is the VP of Product Management at Spigit

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