Top innovative companies fund business proposals, not ideas. That's why it makes sense to develop ideas further before making decisions on which ideas to move forward with. Brightidea's Switchboard combines proposal development and evaluation into a flexible, systemic workflow, geared at determining the best innovations for your company.
We have talked about why and how to build business cases with Switchboard. The next step is selecting which ones to invest in.
Better Business Decisions Made Faster
In collective ideation initiatives, the quality and depth of submitted ideas usually varies significantly. By developing submissions into business cases it is possible to bring ideas onto a similar level of maturity and provide a more solid basis for further assessment. Evaluators can now compare "apples to apples" and thus deliver more accurate evaluations with less effort.
It also accelerates the evaluation process, since a significant amount of work in preparation for the evaluation has already happened. Especially if senior executives are involved in the decision making process, efficiency is critical for their continued support.
Let's look at how Switchboard enables companies to manage and streamline the evaluation process.
Evaluating Innovation with Multi-Round Scorecarding 
To evaluate proposals against each other, they can be easily grouped into "Collections". These collections can then be assigned evaluation scorecards. A scorecard is a list of questions specifically put together to determine the business value of proposals in a collection. Switchboard allows for flexible configuration of scorecards with any type of responses, like free text, multiple choice or radio buttons. Answers are given predefined scores that automatically roll up to a total value for each proposal.
Scorecards can be routed to the appropriate subject-matter experts and decision makers to request their feedback. Teams who are assigned to evaluate a round of proposals can see each business case side-by-side with the scorecard, and are given a space for evaluator-exclusive discussion.
At the end of an evaluation round, proposals can be compared by their overall scores. Taking a closer look at the answers to single questions helps determine where disagreements lie across evaluators. These can then be addressed in meetings, making team discussions more productive.
In larger or more complex initiatives, multiple rounds of evaluations can be set up in order to funnel down on the final proposals.
Monitoring and Managing the Evaluation Process
The fuller your innovation pipeline, the easier it is to lose track of the status of each proposal and outstanding action items. Luckily Switchboard offers tools and visual indicators that make it easy to keep an overview. Through drag and drop and intuitive menu options, proposals can smoothly be moved forward in the evaluation process, be incubated or archived. Nothing ever gets lost, yet the best proposals crystallize clearly and can be turned into projects for execution.
From raw ideas to ready-to-implement business cases, Switchboard streamlines the process and provides easy access to all relevant related information for project managers and decision makers.
Ready to step up your corporate innovation management process? Contact us to find out how Brightidea's Switchboard can help you find the right next step for every idea.
