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Capterra Glossary
Idea management refers to the systemic process of identifying, refining, and implementing new ideas. It is meant to spur creativity and give individuals incentives and opportunities to develop new ideas that can be useful to a business. As the name implies, it involves methodically managing the ideation process from the point of thought generation through the improvement stage, all the way to implementation.
Because there is no one set process for idea generation, small businesses can develop their own process for the implementation of ideas by using idea management software. This can be very useful for small businesses in particular, as small businesses often lack the staff and consulting resources of larger competitors. This can put a premium on creating a formal process to allow for idea generation and management, which will help an SMB to effectively utilize the creativity of their employees.