Quadrant Knowledge Solutions announced that Wazoku is named as a 2021 technology leader in the SPARK Matrix analysis of the global Innovation Management platform market.
The Quadrant Knowledge Solutions SPARK Matrix™ mainly includes a detailed analysis of the global market dynamics, major trends, vendor landscape, and competitive positioning. Moreover, the study also provides competitive analysis and ranking of the leading Innovation Management Platform vendors, mainly in the form of its SPARK Matrix. This is also providing strategic information for users to evaluate different vendor capabilities, competitive differentiation, and market position.
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The Innovation Management platform market is in demand for several years. The market traction across industry verticals and various geographical regions has increased in recent years, mainly due to the increased adaptation of digital transformation by both organizations and customers. The global developments of markets opening for global trading and business have an impact on innovation management in a variety of industries. Also, due to the ongoing Covid-19 pandemic, the Innovation Management industry is currently getting a lot of traction, which is resulting in new capabilities that firms can develop and strategically deploy in the future. The vendors are also providing integrated technologies like Open API, artificial intelligence (AI), machine learning (ML), and natural language processing (NLP) that enable organizations to build a sustainable culture of innovation and deliver consistent success.
Companies have seen severe disruption and uncertainty due to the current pandemic. They’ve shifted their focus from long-term planning to day-to-day operations, realizing the urgent need for innovative methods. Organizations are adopting new innovation to help themselves adapt and pivot in response to such a crisis, and hence are relying on vendors that offer innovation management as a platform to fuel the future of their businesses. Therefore, vendors are focusing on providing a wide range of innovation management solutions to assist in developing various products, ideas, & innovations, and to provide tools that allow employees to collaborate on ideas or engage customers and obtain feedback from them.
“Wazoku offers an Innovation Management platform as part of its overall Enterprise Innovation offering that enables organizations to connect and interact with their employees, ecosystem, clients, and the rest of the world to generate fresh ideas as part of a larger innovation strategy. The company has received strong ratings across the parameters of technology excellence and customer impact and has also been positioned amongst the technology leaders in the 2021 SPARK Matrix of the Innovation Management platform market”, said Manish Chand Thakur, Analyst at Quadrant Knowledge Solutions. “Further, Wazoku offers a wide range of services and consultancy options at various stages of the innovation process. The platform also provides functionalities for idea submission, gamification, collaboration, and analytics that an organization needs to innovate at scale and helps in accelerating innovation outcomes, embedding a culture of innovation, or solving complex innovation challenges. Thus, with its robust technology offerings, comprehensive functional capabilities, and compelling product strategy and roadmap, Wazoku is well-positioned to expand its market share in the global Innovation Management platform market”.
“With the challenges facing the world right now, such as climate change, global health and more, innovation at scale has never been so important,” said Simon Hill, CEO, Wazoku. “A lot of work has gone into our Enterprise Innovation Platform, and to see it recognised as a unique market proposition is hugely gratifying. We now provide the best internal and external crowdsourcing platform required to address today’s most complex challenges, and it’s an essential platform for any enterprise serious about innovation.”
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