Our standard outcome functionality tracks financial outcomes for ideas that are selected and at a single point (i.e. projected or actual outcomes). With the new Enhanced Outcomes functionality, you can embed outcomes into your workflow, allowing you to track and compare initial estimates, validate estimates (which can be completed as part of the evaluation stage) and actual outcomes after an idea has been implemented. In addition, you can configure the outcomes field to track and assign value to resources such as time, paper, postage, etc.
- Use Outcomes to estimate value to the business from an idea, such as the cost savings or potential new revenue..
- Validate estimated outcomes as part of the evaluation process to create a quantitative/qualitative review of ideas.,
- Take a Portfolio View of ideas to better understand the realised and unrealised value of ideas – see the value realised from implemented ideas, while also tracking the unlocked value for ideas that are still pending.
- Track grants/resources awarded to innovative projects to better track the use of innovation fund resources and the results of experiments.
- Understand more than just the financial benefit of ideas by tracking outcomes against other goals such as sustainability and green initiatives or time saving initiatives.
When using Outcomes, you can create a series of Outcome form fields that can be used at any stage of the workflow by adding the Outcome field to an appropriate form. The functionality allows you to:
- Ask Idea Creators to estimate the value of their ideas – both in terms of cost to implement and potential value to the business.
- Ask Evaluators to validate the estimates and make appropriate adjustments (i.e. add/remove outcome data and/or update the estimates).
- Record actual outcomes once an idea is implemented.
- Compare estimates, validated estimates and actual values to determine the accuracy of the estimation process.
- Support outcomes against all ideas, including rejected ideas, so you understanding the value of both realised and unrealised ideas, and have fuller data when making selection decisions.
You can create as many Outcome Fields as necessary to track your different values (i.e. Cost Savings, Costs to Implement, Innovation Grants, etc) and add these fields to appropriate idea forms at the right time in the workflow (i.e. at idea capture or following an initial review of an idea). Each field can include the following values:
- Resource – indicate what time of outcome is being tracked (i.e.. time, paper, postage, etc)
- Quantity – indicate the resource amount (i.e.. 1 day, 10 pieces of paper)
- Frequency (i.e.. 1 day per week)
- Unit cost – indicate the cost for the resource (i.e. employee salary band, paper cost)
In addition, you can create editing and privacy rules that make sense for your organisation:
- Set the value for resurces (i.e. define salary bands, unit cost of paper, etc) or allow individuals to enter their own values
- Set the privacy rules for the actual costs (i.e. allow user to select the salary band, but not see the associated value for that band).
All Outcomes data will be available via the Challenge Export.
If you would like to implement the new Enhanced Outcomes feature to a Challenge, or would simply like to learn more, contact your Customer Success Manager or email email@example.com