Capture – GenSight systematically captures new product ideas in a centralized repository. Anyone in the organization can contribute to the ideas hopper, develop existing ideas and make valuable suggestions towards the exploitation of intellectual property.
Collaborate – GenSight enables you to score and rank ideas, and when appropriate move them directly into the new product development funnel. Evaluation of ideas is accomplished via a gating processes supported by objective assessment and scoring. GenSight helps you identify the best ideas and concepts, and to encourage collaboration so that ideas can be advanced to full new product development activities.
Enhance – Ideas Management can dramatically enhance the value of your project portfolio
- Ideas Management is a vital process to capture and develop valuable contributions from around the organization
- Keep score – Idea evaluation and NPD metrics help prioritize ideas
- Successful companies get 38% of their revenue from new products less than 3 years old, compared to just 27% for average companies
- Stage gate process – to manage research and development (R&D) PPM, from idea to new product launch
How to Prioritize Ideas and Concepts
Prioritizing ideas and concepts in the ideas hopper is a vital first step to build your new product portfolio. GenSight ideas management maps onto the front end of your stage and gate process, so you can prioritize throughout the idea to launch process. Scorecards and idea evaluation criteria support you in making objective decisions. Because you can see all ideas in the hopper, you can make more informed decisions on what to progress into your new product portfolio.