Direct and quantify innovation efforts into an ROI - By providing a systematized process that targets, isolates and develops best ideas, it makes it easier to determine a bottom-line "return on ideas" that the firm's new innovation process provides.
There are a wide range of idea management systems out there offering varying levels of robustness and pricing. This link provides a quick review of many options available. You can definitely find a system that is a best match for your goals and budget.
Deliberately and consistently converting new ideas into real-world innovations enable firms to compete on a new, more dynamic level. The end result will be gaining the skill and capacity to kick-start “new ideas” and an ongoing, innovation assembly line to be able to delight customers and grow new revenue streams.
The Institute for Innovation Development is an educational and business development catalyst for growth-oriented financial services firms. We position our members with the necessary ongoing innovation resources and coaching to drive and facilitate their growth, differentiation and unique community engagement strategies. The Institute was launched with the support and foresight of our founding sponsors--Innovation Equity Partners, Pershing, Voya Financial, Ultimus Fund Solutions, Fidelity, MeridianIQ/AdviceIQ, and Charter Financial Publishing (publisher of Financial Advisor and Private Wealth magazines). For more information or to join click here.