Quadrant Knowledge Solutions analysed Wazoku and 16 other innovation management vendors, focusing on each company’s product portfolios, technology strategies, market presence, and customer value proposition.
The SPARK Matrix provides a snapshot of key market participants and a visual representation of their positioning, along with strategic insights on how each vendor participant ranks related to its competitors.
Wazoku was recognised for its integrated Enterprise Innovation Platform that provides a complete innovation offering for enterprises. The report highlighted this as ’a unique proposition’, including not only Innovation Management but an Open Innovation Marketplace and Innovation Consulting services as well.
“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”.
Wazoku was further commended for its use of AI, Machine Learning and Natural Language Processing to help create a corporate memory of ideas for enterprises and the ability to highlight unexpected relationships by matching people, ideas and problems. The platform’s integration with various tools and applications was also highlighted, along with its Open API that integrates with any enterprise backend systems and shares data back to the platform.
“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.”
The full report, SPARK Matrix™: Innovation Management, 2021, is available for purchase from Quadrant Knowledge Solutions.