---
title: How To Turn Up The Innovation Dial Without Breaking The Bank
description: HOW TO TURN UP THE INNOVATION DIAL WITHOUT BREAKING THE BANK
---

[Insights ](https://blog.certussolutions.com/blog)

# [How To Turn Up The Innovation Dial Without Breaking The Bank](https://blog.certussolutions.com/blog/how-to-turn-up-the-innovation-dial-without-breaking-the-bank)

 Written by [Accelerate World](https://blog.certussolutions.com/blog/author/accelerate-world) | Sep 14, 2017 9:03:00 PM

There is huge pressure on organisational structures, skills, cultures, traditional IT systems and supply chains because of the speed of change we are in the midst of today.

It’s a change so rapid that these aspects of business were simply never designed to cope with and it’s pushing a need for innovation that’s just as rapid. But what is required to spur innovation? Most will likely say some form of research and development, but this has always been a major undertaking, both from a cost and time perspective.

As John Cronin, a former top inventor at IBM, says, [“It’s time to innovate how we innovate.”](https://www.forbes.com/sites/forbesleadershipforum/2016/05/18/how-to-innovate-without-all-that-costly-rd/#6202c17d50b1)

The way forward for companies to embrace innovation without the significant R&D investment, is by leveraging the power of online innovation tools. 

*"Many companies now have the option of using inexpensive yet surprisingly-robust internet and crowdsourced invention tools to create high-value patented products and services. It's not suitable for every enterprise or industry, but what I call 'virtualised innovation' can enable companies to respond much more rapidly and cost-effectively to declining product life cycles, accelerating technological change, and intensifying competition."*

**What’s possible with Virtualised Innovation**

- Market research
- Product testing
- Access to technical expertise of all types
- Advanced patent searching
- Market sizing and valuation tools
- Customer surveys
- Data analysis
- Online focus group marketing

Approaching innovation in this way is especially beneficial for smaller players as it gives you access to an R&D department without the cost of setting up your own one in-house.

[View full post](https://blog.certussolutions.com/blog/how-to-turn-up-the-innovation-dial-without-breaking-the-bank)

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