Spigit, a US provider of collective idea management software, is bullish on its growth prospects in Latin America after its launch this year, has built up five partners and is about to embark on a road show of six cities, Spigit's Latin America director, Clifton Ashley, told BNamericas.
The Spigit's software-as-a-service (SaaS) platform manages the process of collective innovation within a company. Often many ideas emerge on a daily basis that could help improve efficiency or save costs for a company, but are never captured or capitalized on.
The Spigit platform operates like a social network or interactive community that can help promote, complement, kill or bring to fruition ideas that often emerge not from management but from some other department that sees ways to bring about improvements.
"Your potential is bigger than your business card," Ashley said, adding that a secretary could have good ideas but does normally not have the opportunity to express them.
"Most companies haven't found a consistent methodology for innovating in a structured way. We encourage the 'funnel' approach so when ideas graduate through the funnel you can decide how you incubate them," the executive said.
"Our software measures your reputation, then the rest of the crowd judges that. Someone might say, 'Hey if you tweak the idea it'll work better,' or 'I worked in that division before, and we tried that idea and it didn't work.' And it gets killed there. But it's not killed because I manage you, or because I'm more important than you," he said.
Spigit now has a Latin American operations base in Chilean capital Santiago. In Latin America, it is already working with a Mexican bank, he said without providing a name.
The company is also working with local governments in New York City and Maryland, where Spigit has been used for crowdsourcing of ideas.
Globally, the company is growing 300% per year. Its headquarters are in the Bay Area of California and also in Virginia.