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Staying ahead of the competition requires a steady pipeline of innovation. A consistent, well-managed innovation process can be the single most critical differentiator for you organization's long term success. A plethora of enterprise social networks (ESN) and Social Business solutions (SBS) have emerged over the last 10 years to help improve transparency and communication in companies. These lead to some innovation through serendipity, but the problem is that they don't result in a steady repeatable pipeline of innovation or the certainty of collaborating with purpose.
A new class of social software, called Enterprise Innovation Platforms (EIP) have emerged to solve this problem. What Salesforce (CRM) did for sales methodology - i.e visibility and tracking into a methodical sales pipeline, is what Enterprise Innovation Platforms are doing for product and process innovation in companies. These SaaS platforms use techniques from social software, crowdsourcing, game theory, behavioral analysis and big data analytics to help business grow faster, achieve cost efficiencies and mitigate the risk of being disrupted by nimble competitors. This guide gives you 5 key things you should consider when evaluating such platforms.