Providing your innovation program's bottom line is critical. Brightidea is excited to announce to our Administrators more opportunities to track both financial and non-financial business impact! Business Impact can now be recorded directly on the View Submission page, more specifics are below!
Table of Contents
- Getting Started
- Managing Business Impact
- Exporting Business Impact
- Assigning Business Impact Action Items
- Command Center Dashboard
- Business Impact Dashboard
As of the Spring 2021 release, you can now configure initiatives to collect, report, and display business impact on a quarterly basis. To change the timeframe for your initiative, navigate to Site Setup > Ideas > Ideas > Business Impact timeframe. New initiatives will be set to Quarterly by default.
When changing an initiative from Yearly to Quarterly, any existing yearly business impact will automatically be divided equally into quarters for that year. When changing your initiative to Quarterly to Yearly, any existing quarterly business impact will automatically be summed to its respective year.
Business Impact Fields can be customized at the System-level. Navigate to System Setup > Ideas > Business Impact tab.
Each Benefit is divided into Financial and Non-Financial and broken down into individual fields that can be set to meet your innovation program needs.
Easily apply new fields by clicking the + Add Benefit button at the bottom of each Benefit.
You can also delete fields by clicking the trash can to the right of each item.
Each item can also be moved up and down in the list by clicking-and-dragging the left rearrange icon.
You can also set Business Impact to tack in currencies other than the US Dollar. To change the currency navigate to System Setup > Site > General Settings and select from the Currency drop down list.
After all benefits have been set, Admins can then navigate to any idea page and select the "Business Impact" tab:
To start, select the blue "Add Impact" button:
Adding Business Impact
From this tab, users can record projected and actual business impact associated with the submissions. User roles that can edit business impact include:
- System Administrators
- Community Administrators
- Initiative/Pipeline Administrators
- Idea Submitter (this can be configured by Administrators)
For initiatives configured to quarterly business impact, the financial impact will be divided into quarters instead of years. Financial business impact can be recorded with the following information:
- Start Date
- Project and Actual Benefits (configured at the System level)
- Projected and Actual Costs
Non-financial impact can be recorded with the following information:
- Type (configured at Enterprise level)
- Start Date
- End Date
Once the data is complete, select "Save a New Version" to save your changes to a new version.
The latest version of business impact will be visible from the View Idea page:
Previous versions are listed in the timestamp dropdown menu. Selecting a previous version will display it in the Business Impact tab.
Submitter Access to Business Impact
Administrators may give Submitters access to the Business Impact tab from Site Setup > Ideas > Ideas.
With this setting enabled, submitters will have the ability to view and edit the Business Impact for their own submission.
Managing Business Impact
Keep in mind - by default this tab is only visible to Administrators, Moderators and Evaluators - however, if the option is enabled to allow submitter access, that will allow them to also view and edit.
Editing Business Impact
To edit business impact select "Update"
A history of business impact entries for that idea can be viewed at the top of the Business Impact tab
Deleting Business Impact
To delete business impact, select the 'trash' icon next to the benefit or cost:
Exporting Business Impact
The following columns can be added to the Pipeline Idea List using the 'gear' menu:
- Projected Net Benefit
- Actual Benefits
- Non-Financial Benefits
Once the columns are added to the list view, run the export by selecting the green 'Excel' icon on the upper right.
Assigning Business Impact Action Items
Any development team members, when selected to edit idea attributes, can enter projected and actual business impact via a development action item.
Administrators and Pipeline Moderators can add a new Development step in the Pipeline workflow to conduct this action:
- Use Development submission form question to ask if business impact is recorded; the assignee can then go to those areas and fill out business impact.
- "Allow Assignees to Edit Idea Attributes" option in Step Configuration must be enabled.
- Administrators can also create a custom email for the Step to explain the purpose of the Action Item to assignees:
When the assignee, gets the action item, the user can enter business impact for the idea assigned to them, while also choosing a development field question:
Command Center Dashboard
A summary of Business Impact for all submissions in the system will be reflected in the Key Program Results dashboard of the Command Center.
Administrators can view Projected Net Benefit, Non-Financial Benefits, and Actual Benefits by individual Site, a selected group of Sites, or for all Sites.
Business Impact Dashboards
Administrators can view Financial Benefits Over Time and Financial Summary by Innovation. This information can also be exported to a spreadsheet for further analysis and reporting.
For initiatives configured to quarterly business impact, the dashboard can now be configured to display in quarters, years, or cumulative over all time. The target financial impact will also be updated to display by quarter.
When viewing the dashboard by quarters, any existing yearly business impact will be divided equally into quarters. When viewing the dashboard by years, any existing quarterly business impact will be added into its respective year.