It is important that companies have a system in place to monitor, evaluate and direct their innovation. This might be just for a single task or for every aspect of the company. These tools and their features help you manage, track, and control all the different aspects of your innovation initiatives like a product development process or a cost saving sprint.
Innovation management tools are all about the support to innovation. Innovation management tools offer a variety of ways in which organizations can manage innovation - from finding new opportunities to assessing the strengths and weaknesses of their current operations. When it comes time to a company's innovation capabilities these tools can help helping businesses and organizations plan for, monitor and execute their innovation initiatives and innovate more effectively.