March 2003: Idea Management Comes of Age with the Release of Idea Central 4.0 from Imaginatik
BOSTON, MA (20 March, 2003). Imaginatik announces the release of Idea Central 4.0, the most widely used Idea Management software with over 30 installed clients worldwide, including Bristol-Myers Squibb, Cadbury Schweppes, Grace Chemicals, Hallmark, Goodyear and UOP.
In addition to the existing features of Idea Central which include advanced idea capture, collaborative idea development environment, structured evaluation processes and automated workflow, the new version contains a host of major capabilities.
Highlights include sophisticated Reporting Tools, Improved Navigation and additional Configuration Options. The Custom Report feature lets authorized users export data in Word or Excel format supporting different styles of review process, and facilitates the creation of project documentation outside the system. The user interface has been redesigned to present information in a more meaningful way, and to help guide users through the phases of idea creation and concept building. The software now contains more configuration options that enable new types of use for the system, such as Pre-Screen and Final Stage review methods.
The new version has been developed following extensive research into client use of past versions of our software, in collaboration with academic institutions in the US and Europe. Early results indicate that the new features will increase the rate of collaboration three- to five-fold, and thereby significantly enhance the quality and viability of the ideas and concepts that are developed inside the system.
Imaginatik continues to expand with the opening of an office in Hamburg, Germany and new partners including Entovation (US) and The Ideas Accelerator (New Zealand). Imaginatik also continues to develop and enhance its acclaimed methodology, The Idea Management Process, and will expand its offering of Innovation Services, provided directly through Imaginatik and through partners such as Bottom Line Innovation Associates (US).
About Idea Management
Idea Management is a relatively new term for a hundred-year old concept, that of listening to employees to find ideas for improving the business. It involves the capture, development and selection of focused business ideas to help achieve corporate objectives for innovation, growth, and cost control. Idea Management is one of the most critical factors for successful innovation, alongside Leadership and Organizational Climate (Source: PwC Innovation Survey 2001). With 80% of senior executives reporting that innovation is the most important business issue today, tools such as Idea Management software are becoming the foundation for growth initiatives amongst the top companies (Source: Bain & Co., 2002).
About Imaginatik
Founded in 1994 and based in Boston, MA, Imaginatik is the world leader in Innovation and Idea Management software. The core product is Idea Central 4.0, a web based application to collect, develop and select high impact ideas and insights from employees and selected partners and customers. Imaginatik's clients include Bristol-Myers Squibb, Cadbury Schweppes, W. R. Grace, Teck Cominco, UOP, IBM, Hallmark, Goodyear and Farm Credit Canada. Imaginatik is also one of the leading sources of new research into Corporate Innovation - developing the underlying theories and best practice in conjunction with academic institutions such as the London Business School, Penn State Smeal College of Business, the University of Virginia and the Cass School of Business, London, as well as leading practitioners of corporate innovation.
For more information please visit www.imaginatik.com.
Imaginatik and Idea Central are trademarks of Imaginatik plc.
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