Innovation Management Services vs. Internal Resources: How to Achieve Results

Once your company has decided to implement an innovation strategy, one burning question will likely arise. Should we seek innovation management services or use internal resources? Instead of viewing it as a choice, it’s best to think about how external innovation tools can enhance your existing resources. All innovation management services are not created equal, so let’s explore the best options for innovation managers to consider.

What Are Innovation Management Solutions?

Looking into innovation management services for the first time can be more overwhelming than a room full of puppies (we get overwhelmed by cuteness easily). It seems like there’s a service for everything you can think of and a few things you can’t. Typically, innovation management services fall into one of three categories: consultations, technology, and general management. We’ll break down each one in the following sections to help you identify which will be most beneficial to your organization.

Consultations

Consultation services vary from company to company because they may be retained for a specific project or the innovation process as a whole. The main idea behind hiring an innovation consultant is professional guidance. A few perks you can expect from these types of innovation management services include:

  • Insight regarding business structure and operations.
  • Solving problems. 
  • Help identify potential setbacks.

    Example:

    An innovation consultant may provide your company’s leadership with advice about adapting to fluctuating consumer demands. 

Tools and Technology

Innovation software (sometimes referred to as idea management software) is one of the most important innovation management services for a company to obtain. Not only does it provide an organizational platform to gather ideas and track the innovation timeline, but it also facilitates collaboration. Innovative technology is essentially a cross between project management software and social media. It helps decentralize innovation culture by increasing business process transparency and accessibility.

Management

Innovation management refers to the process of managing a company’s innovation systems. It’s similar to innovation consulting but typically involves more hands-on practices like overseeing the implementation of new technologies or procedures. Innovation management tackles issues like employee engagement and project advancement. 

Which Innovation Management Services Does My Company Need?

Before onboarding innovation management services, look inward young grasshopper. Often, the pain points in your company’s current innovation pipeline will indicate which areas could use external guidance. For example, a business struggling with participation in innovative exercises should turn to innovation management solutions specializing in employee engagement


Conversely, a company with more ideas than they know what to do with would benefit most from an idea management platform, consultation services, or both. Innovation management services shouldn't replace internal resources. Instead, they fill in the gaps they leave behind. 

Essential Techniques of Innovation Management

Still not sure which innovation management services are right for you? Don’t worry. Introspection is hard. Just ask your ex. Those who are new to corporate innovation may also struggle with selecting innovation management services because they haven’t allocated any internal resources to innovation yet. Whether you’re a newbie or your flaws are just so minuscule they’re impossible to pinpoint, rready is here to help with a rundown of the essential innovation management techniques below.

Addressing Company Culture

Promoting innovation culture is arguably the most critical element of any innovation plan. You can lead all you want, but your efforts will have been in vain if your team isn’t on board to follow. Corporate innovation efforts rely on the ability to tap into your company’s collective distribution of knowledge. So, where better to start your innovation efforts than with the people who will drive them forward? 


How rready promotes innovation culture:

The rready KICKBOX is a physical toolkit that strengthens employees' relationships with their company by providing tangible instructions and incentives inspired by gamification. No two KICKBOX packages will be the same. They are carefully tailored to fit the needs of the individual company. However, each member of every organization will receive:

  • A roadmap (yes, a literal roadmap) to demystify the nonlinear innovation process.
  • Incentives and encouragement to decentralize innovation.
  • The KICKBOOK, an expert level guidebook peer-reviewed by over a hundred innovation leaders.
  • Access to innovation technology and the supportive ecosystem of KICKBOX users worldwide. 

Organizing the Innovative Process With Technology

Businesses today rely on applications and software for everything from customer relationship management to employee data. Using internal resources to build your innovation platform can eat up a lot of company resources. Not to mention, the cost of ongoing maintenance could grow with your company. You may even need to hire additional IT support to ensure the scalability and security of your system. 


There's no one approach that will be suitable for all organizations. However, there's no denying that outsourcing your idea management software can alleviate a lot of the responsibilities innovation leaders face. Innovation management services like the rready KICKBOX come complete with SaaS, but those who partner with consultants alone may find that something is missing from their solution. 

Getting Started With rready

Launching a new initiative of any kind can be rough. Read about how rready helps companies achieve smooth sailing in one of our case studies.
rready has been helping companies of all sizes with innovation management services for years. If you are rready to light that fire that you know is already in your team, contact us today or click below to schedule a demo.Get started today