April 2002: Imaginatik Releases Rewards Module for Idea Central

BOSTON, MA (18 April, 2002) – Imaginatik announces the launch of the Rewards Module 1.0, a points-based system to manage innovation award programs. The application integrates into Idea Central, the leading Idea Management software, and Imaginatik's other Add-On Modules, such as the Portal Module.

The Rewards Module contains a number of core features, such as the configuration of reward 'triggers', an engine to allocate points automatically based on user activities within the Idea Central software, and a bank balance-like system for users to accumulate and spend points.

The Rewards Module has been built based on best practice for Idea Management systems and lessons from rewards programs in general. Whilst there are several other reward methods that are being advocated, such as sharing a percentage of cost savings, the points-based approach overcomes many of the weaknesses associated with alternative methods of rewarding innovative behavior.

The product has been successfully used in a number of early customers and is now available to all clients. Imaginatik's Idea Central software is the most widely used Idea Management application, with clients in pharmaceuticals, consumer goods, chemicals, manufacturing, professional services, financial services and government.

The Rewards Module is available for installed and hosted customers, and is also offered as part of the Event Package rental version of Idea Central. The product is available in English, with Spanish and French versions planned for end 2002.

For more information, please contact:

Mark Turrell, Imaginatik
mark_turrell@imaginatik.com

About Imaginatik

Imaginatik is the leader in Idea Management software. Idea Central, a web-based application, helps companies seek and gather ideas from employees and extended enterprise partners, by providing a secure forum for collaborative development of ideas, and it offers sophisticated, yet easy-to-use, evaluation tools to allow managers to select the best ideas for implementation. Imaginatik is headquartered in Boston, Massachusetts, with offices in the UK and Spain. Founded almost 10 years ago, Imaginatik has developed leading edge expertise in innovation management, and its clients include Bristol-Myers Squibb, Philips, Nestle, Teck Cominco and IBM.

Imaginatik and Idea Central are trademarks of Imaginatik plc.