May 2003 - Innovation Management has a new Standard Bearer: Imaginatik’s Idea Central wins Basex Excellence Award 2003
The Basex Excellence Award 2003 has been presented to Imaginatik for Idea Central V4.0. "Basex recognizes Imaginatik's Idea Central 4.0 as the leading Idea and Innovation Management package on the market," says Jonathan Spira, Basex Chairman and Chief Analyst. “Imaginatik has been a leader in the creation of the Idea Management market space and has demonstrated the profitable use of such software.”
Imaginatik’s Idea Central is a web based application designed to elicit ideas and insights from employees and extended enterprise partners, and turn them into high impact concepts and project plans through collaborative development and sophisticated evaluation techniques.
Over 40 companies are now using Idea Central including innovators such as Cadbury-Schweppes (NYSE:CSG) , Georgia-Pacific (NYSE:GP), Goodyear (NYSE:GT), IBM (NYSE:IBM) and Farm Credit Canada. The software has delivered tangible return on investment through new revenue-generating opportunities, cost savings, and process improvements, as well as supporting other initiatives such as consumer insight, lead user research, and increased employee involvement.
Bristol-Myers Squibb (NYSE:BMY) holds 30,000 Idea Central licenses and used it to accelerate the commercialization of new drugs. The ‘War On Diabetes' campaign collected 500 sales and marketing ideas that helped generate an additional $200m in launch revenue.
W. R. Grace (NYSE:GRA) is using Idea Central to develop high quality concepts for future growth and new markets for existing products.
Hallmark generated top concepts for the Keepsakes Division and expects at least one employee concept to be a major winner in 2004.
About the Basex Excellence Awards
Basex, a highly regarded research firm specializing in knowledge management and collaboration, bestows its annual awards to recognize leaders in a specific market who have achieved industry-leading and all-around excellence with a product or service. Previous winners include leaders such as IBM, Google, Groove, and Verity. "These companies exemplify the types of products which have broken new ground and point the way to the future," says Spira.
About Imaginatik
Imaginatik is the long-time leader in enterprise Innovation and Idea Management. Through Imaginatik Research, it is also one of the leading sources of new research into Idea Management and Corporate Innovation - developing leading edge theory and best practices in conjunction with academic institutions and leading practitioners of corporate innovation.
Imaginatik and Idea Central are trademarks of Imaginatik plc.
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