PLEASANTON, CA: Spigit, a provider in innovation management software for the enterprise, today announced the availability of WE by Spigit, an innovation management software.

This tool is built specifically for the needs of small and medium-sized businesses to engage employees and customers to help cut costs, streamline processes, and decrease time-to-market, said a press release.

Entrepreneurs and business owners are searching for new ways to draw out workers' ideas but have struggled to find an easy way to capture, assess and implement new ideas in a timely and efficient manner. This is especially true for companies that are growing rapidly and investing in R&D.

"During these challenging economic times, firms have recognized the value of investing in innovation," said Carol Rozwell, VP and distinguished analyst at Gartner. "Innovation management software simplifies the process of gathering and evaluating the insight companies need to cut costs and outperform competitors."

WE by Spigit allows companies to start sharing ideas immediately, building out their own innovation community platforms . With this software employees easily share, collaborate on and refine ideas in a common innovation space.

Paul Pluschkell, CEO and Co-founder of Spigit said, "When a company exceeds 50 employees, there needs to be a better way other than email, spreadsheets, suggestion boxes, and post-it notes to capture these new ideas and surface the best ones for adoption.”

"Our new SMB product WE by Spigit gives small and medium-sized businesses the ability to tap into the collective intelligence within an organization for goal-driven collaboration," he added.

Innovation visibility is greatly enhanced with tracking mechanisms for top-rated and new ideas, as well as ideas meeting each individual's specific criteria. An analytics engine surfaces both the top ideas and top members based on 360 degree community feedback. Workflow ensures the best ideas are shaped by a diversity of viewpoints before becoming company initiatives, the release said.

It integrates emergent social collaboration with traditional workflow and analytics, expanding companies' sources of innovation and reducing time-to-implementation for good ideas. Additionally it also source new product ideas, manage project proposals, uncover new revenue opportunities, strengthen operational processes, improve their customers' experience and solve global and civic issues.