There are a lot of factors primary decision-makers need to consider when it comes to implementing idea management software: buy it, build it or don’t even bother with it (hint: that’s a bad idea.)
We often hear decision makers at mid-sized companies say that their company is too small to see the benefits of implementing an idea management platform.
The return on investment (ROI) of idea management software is an important facet for buyers to consider during their decision-making process. ROI is a performance measure that indicates whether money and time spent is ultimately worth the return value.
Idea management is a critical component for companies to secure their market position and meet the needs of their stakeholders.
The implementation of innovation management software is an exciting – and increasingly important – step for any company to take. It can open the door to a seemingly endless stream of innovative ideas from employees, shareholders and consumers.
Today, innovation is a top buzzword in almost every industry. Companies of every scope are looking for ways to grow revenue, cut costs and increase engagement, and the legal sector is no exception.
A portion of the legal sector appears to have missed the memo that firms desperately need to innovate. According to the “Closing the Innovation Gap” survey conducted by Thomson Hine, 96% of respondents reported seeing little to no innovation at their company over the past three years.
The desire to be heard and feel valued is natural. From CEOs to employees to consumers, it’s important to provide people with the opportunity to share their thoughts and opinions.
As industries continue to rapidly advance their technology, products and services, it’s essential for companies within the legal sector to keep up with innovative efforts or risk being left behind.