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Brightidea Inc. Launches Brightidea.com, First On-Demand Innovation Management Software; Integrated Suite Helps Mid-Size Organizations Accelerate Process of InnovationNEW YORK --(Business Wire)-- May 31, 2005 -- Brightidea Incorporated, a leading provider of enterprise Innovation Process Management (IPM) software, today launched Brightidea.com, the first ever on-demand software service for accelerating the process of innovation. The software was developed for mid-size organizations and divisions of large companies that do not have time or resources to deploy an enterprise-scale solution. The Brightidea.com service accelerates innovation by enabling companies to source ideas from a wider audience, prioritize concepts more efficiently, and track projects through to completion, leading to faster time-to-market for new products and faster time-to-implement for process improvements. Delivered as a subscription service via the Internet, the turnkey software service can be deployed in less than an hour, without costly hardware or installation fees. "The world's largest and richest corporations have been using Innovation Process Management technologies to turn ideas into profits for years," said Matthew Greeley, CEO of Brightidea Inc. "Brightidea.com now makes these powerful tools available to the middle market." Proper Tools Key to Managing Innovation Increasingly challenged to be more effective at innovation, executives are investing in technology to help them manage the process. In their second annual report on Innovation, The Boston Consulting Group found that, while 74% of executives surveyed planned to increase spending on innovation this year, the majority were disappointed with their return on innovation investments and unclear how to do a better job. In late 2004, a consortium of over 500 leaders from the public and private sectors came together to produce a report titled "Innovate America," a detailed roadmap and recommendations for keeping the U.S. at the forefront of innovation. One of the major recommendations that came out of the report is to develop the infrastructure for innovation. Chad Evans, Vice President for Council on Competitiveness who coordinated the report's development, said, "Investment in infrastructure and technology that supports innovation is critical for U.S. companies that want to remain competitive in today's global economy." Brightidea.com Service The Brightidea.com On-Demand IPM service is comprised of five integrated tools that automate the common tasks in the innovation process, as well as end-to-end tracking and metrics for managing the overall process more effectively. -- Research - Secure, shared weblogs allow participants to track emerging trends, competition, and areas of opportunity. Research blogs ensure an organization stays abreast of market developments while maintaining a permanent record of all research. -- Expert Location - Easy-to-use natural language search function that allows users locate experts for help with a question or problem. Users can search expert profiles as well as all content in the innovation management system to locate the most appropriate expert for their needs. Expert Location ensures that expertise is located and maximized regardless of location or department in the organization. -- Idea Management - Highly configurable idea ranking engine allows managers to rapidly identify the most promising innovations available in an organization. Ideas are ranked based on user input and one of several proprietary algorithms and methods based on the type and scale of innovation desired. Managers can request ideas in specific areas of opportunity or collect unsolicited ideas from employees, customers, and suppliers. Idea Management accelerates identification of viable concepts and ensures non-viable proposals are discontinued early. -- Project Tracking - Flexible, phase-based tracking system for managing projects in the innovation pipeline. Gives managers visibility into all projects underway and their progress. Project tracking ensures that on-going projects are: strategically aligned, properly vetted at each step and stay on-track throughout the implementation process. -- Rewards & Recognition - An end-to-end solution that tracks individual contributions to the innovation program. Points are accumulated for selected activities and achievements. Rewards & Recognition tracks the redemption of points for: gifts, awards or cash to ensure that key players in the innovation process are recognized and proper financial records are maintained. The software is designed to assist managers in all areas of innovation with templates and workflows specifically designed for accelerating: new product development, process improvement, cost cutting, intellectual property, technology adoption, marketing, strategy, and business model innovation. The software is delivered as an Internet subscription service so managers can get started without involvement from IT or approval for a major capital request. Pre-configured templates and wizards make it easy for innovation managers to get started quickly. Customers can subscribe to an individual module, multiple modules or the entire integrated suite. The Brightidea.com On-Demand IPM service is available immediately, priced at $49 per user per month, with participant licenses available for as low as a $1 per month. About Brightidea Incorporated Brightidea Inc. is the global leader in the Innovation Process Management (IPM) software market. The company's enterprise software is used by over 250 organizations worldwide, including: Hallmark, Bristol Myers Squibb, Bosch, Emerson, ING Financial and the U.S. Department of Defense. Brightidea Inc. recently launched Brightidea.com, the first ever On-Demand IPM service, specifically designed to meet the needs of mid-size organizations, and divisions of larger companies. The service offers a comprehensive suite of IPM tools that improve the efficiency and effectiveness of an organization's innovation processes. The Brightidea.com On-Demand service is currently in use at: DHL, Reliant Energy, ADS, Stryker Corp., and Honeywell. Brightidea Inc. continues to offer their class-leading enterprise solution to larger organizations. Founded in 1999, the company is headquartered in New York City. For more information please visit: www.brightidea.com. |
