7 innovation management software in 2024 : Pricing, Features, Deployment

Welcome to the ultimate guide on innovation management software for 2024! In today's rapidly evolving business landscape, harnessing innovation is crucial for staying competitive. This comprehensive overview explores seven leading software solutions designed to foster creativity, streamline idea management, and drive organizational growth. From AI-powered platforms integrating seamlessly with Microsoft Teams to customizable workflows that automate feedback loops, each software's key features, pricing estimates, deployment times, and customization capabilities are meticulously analyzed.

Whether you're a startup seeking agile project management or a multinational corporation prioritizing strategic planning, this guide provides invaluable insights to help you make informed decisions. Join us as we delve into the realm of innovation management software, empowering your business to thrive in the era of constant change.

Table comparing pricing & features of management software

SoftwareKey FeaturesTCO for 30 Users (Estimate)TCO for 1000 Users (Estimate)Deployment Time (Estimate)Customization
Kangaruu Engage employees in innovation, automate idea management & time tracking via chatbot and dashboard. 

€2 880


€24 480


1 week

Installs as en App within Microsoft Teams for seamless idea management.

InnovationCastCustomizable workflows, transparent idea lifecycle, onboarding automation, feedback mechanism€71 988 annually€71 988 annually4-6 weeks★★★☆☆
Sideways6AI-powered idea management, integrates with Microsoft Teams and Workplace by Meta, structured workflows$900 annually$30,000 annually6-8 weeks★★★☆☆
PlanboxTech scouting, challenge-driven innovation, agile project management, portfolio management$1,800 annually$120,000 annually8-12 weeks★★★★★
HYPEStrategic innovation planning, ideation lifecycle management, partnership management€50 000 annually€50 000 annually6-10 weeks★★★★★
QmarketsQ-ideate (idea management), Q-optimize (continuous improvement), Q-trend (trend analysis), Q-scout (tech scouting), Q-impact (portfolio management)€30 000 - 50 000 annually€30 000 - 50 000 annually8-12 weeks★★★★★
WazokuInternal and external collaboration, advanced analytics, co-creation, open innovation initiatives€30 000 - 50 000 annually€30 000 - 50 000 annually10-14 weeks★★★★★

Deployment Time (Estimate) : Briefly describes how the software integrates with existing workflows or platforms within a company to enhance collaboration, streamline processes, or support specific innovation management activities. Includes time discussing with IT before any descision. May vary greately from one organisation to the other.

TCO (Total Cost of Ownership) for N Users (Estimate): Total annual cost estimate for N users, including user licenses and estimated setup/customization costs. 

Customisation : provides an rough indication of how much a software solution can be tailored to meet specific user requirements. 

Methodology & Disclaimer

The pricing & features information for services and products from companies featured on this site is collected from public sources and is intended to provide indicative comparison. Note that these companies often have opaque pricing and offerings; hence, we use estimated ranges. Please inform us of any corrections to this listing, especially regarding price estimates. We strive to maintain accurate and up-to-date information; however, we cannot guarantee the accuracy, reliability, or completeness of the provided information.
Prices & features may vary depending on the provider, location, promotional offers, and other factors not always considered in our comparisons. We recommend users to verify directly with providers for the latest and most accurate information.
Kangaruu / Tooap  cannot be held liable for any losses or damages, direct or indirect, arising from the use or reliance on the information provided on this site. This disclaimer applies to the fullest extent permitted by law.  All trademarks, registered trademarks, product names, and company names or logos mentioned herein are the property of their respective owners.
For any questions or to report inaccuracies in the published information, please contact us. Updated on 25/06/2024

Frequently Asked Questions (FAQ) about Innovation Management Software

What is innovation management software?

Innovation management software helps organizations collect, evaluate, and implement ideas from employees or external stakeholders. It facilitates the entire lifecycle of innovation, from idea generation to execution, by providing tools for collaboration, idea evaluation, and project management.

Why should my company invest in innovation management software?

Investing in innovation management software can help your company foster a culture of innovation, improve employee engagement, streamline idea evaluation processes, and ultimately drive business growth through continuous improvement and new product development.

What features should I look for in innovation management software ?

Key features to consider include customizable workflows, integration capabilities with existing tools (like collaboration platforms), idea submission and evaluation tools, project management functionalities, analytics and reporting, and support for different types of innovation processes (e.g., open innovation, continuous improvement).

How do I choose the right innovation management software for my company ?

Consider your specific business needs, such as the size of your organization, the complexity of your innovation processes, integration requirements with existing software, scalability, customization options, and budget. Request demos, evaluate user reviews, and compare pricing and support options from different vendors.

What are the benefits of integration with existing workflows? 

Integration with existing workflows (e.g., Microsoft Teams, Slack) enhances user adoption and collaboration. It allows employees to submit ideas seamlessly from their daily work environment, reduces duplication of efforts, and improves the visibility and accessibility of innovation initiatives across the organization.

How customizable are these software solutions ?

Customization capabilities vary among different providers. Look for software that offers flexible configuration options to adapt to your organization's unique processes, branding, and specific innovation management needs. Higher customization levels allow you to tailor workflows, reporting, and user interfaces according to your requirements.

What are the typical costs associated with innovation management software?

Costs can vary based on factors like the number of users, customization requirements, additional features, and support options. Pricing models often include per-user licenses, setup fees, and ongoing support or maintenance costs. It's common to request a personalized quote based on your specific needs and user count.

How can innovation management software improve collaboration and employee engagement?

By providing a centralized platform for idea submission, feedback, and collaboration, innovation management software encourages transparency and inclusivity in the innovation process. It allows employees to contribute ideas, provide feedback, and participate in innovation challenges or projects, fostering a culture of continuous improvement and engagement.

Can innovation management software support different types of innovation initiatives?

Yes, many software solutions support various types of innovation, including incremental improvements, disruptive innovation, open innovation (involving external stakeholders), and continuous improvement projects. Look for features like challenge-driven innovation, tech scouting, and portfolio management to support diverse innovation strategies.

How should I evaluate the ROI of innovation management software?

Evaluate ROI by considering metrics such as increased employee engagement and satisfaction, faster time-to-market for new products or improvements, cost savings from process efficiencies, and revenue generated from successful innovations. Track these metrics over time to assess the software's impact on your organization's innovation capabilities.

 business needs and goals.