I came across a news alert on “idea management” today from a vendor I had not heard of before: Gensight Group. Their press release covered the release of its new Version 8 software for Project Portfolio Management, that included an idea management toolset.
I have not had the time nor the inclination to do a deep-deep dive on the company as we have never come across them before at Imaginatik in our ten years of working in the area of Collaborative Innovation. That being said, it did pique my interest as I have been expecting vendors of ‘larger’ platform products, around knowledge management and portfolio management, to add on simplistic Idea Management features to their toolset.
From one standpoint, it is easy to manage ideas. I mean, how hard can it be to have a form that collects ideas, a view that shares them, and a form that allows you to vote on the top ones. Well, we’ve answered that question before, and the answer in practice is: pretty damn hard.
So, my expectation of Gensight and any other firm approaching the area from a similar way is that:
- in the best case, they protect their existing revenue streams from their client base who might be looking at buying in this organizational capability
- they are unlikely to add new clients who start off looking for Idea Management, as the feature set is way too immature in Idea Management, and way too rich / complex in areas that the client does not (yet) appreciate
- their core business is quite far away from Idea Management, so that when push comes to shove, they reduce / drop support for the feature set (and wait for the next buzzword / toolset to add on)
So, it is good validation that the overall market is growing. And good to have a ‘plan’ as to how to address these new entrants. It’s nice to be in a popular market space