Innovation Accounting: A Practical Guide For Measuring Your Innovation Ecosystem’s Performance

by Dan Toma, Esther Gons

When a company is committed to growing through innovation – not just exploiting the existing business models – standard accounting documents offer insufficient and, oftentimes irrelevant data. Innovation Accounting is a practical guide for these companies to help them measure and track innovation. Most established organizations have understood the need to innovate and become more digital, however the management tools available to leaders seeking to understand the investments in innovation are lacking. Financial accounting in particular is difficult to use in the context of (digital) innovation. Therefore a new complementary system for measuring and tracking innovation is needed.

The book provides tools, frameworks, templates, and visualizations that can be easily understood and applied. These can all be used by executives looking for a new way of measuring corporate performance in a world where accounting-recognized assets are becoming commodities, by investors seeking better ways of looking at a company’s growth potential, and by managers who need to valuate innovation product teams using more than just financial indicators. Innovation Accounting is an essential go-to book for anyone that wants to measure their company’s innovation ecosystem.

Genres: Business

312 pages, Paperback

Published September 1, 2021

Reviews

[Timan Rebel · Rating 5 out of 5]

The Corporate Startup and Lean Startup both spoke about innovation accounting, but still, nobody really knew how to measure innovation. This book changes that.

In Esther Emmely Gons' and Dan Toma's newest book, the concept of Innovation Accounting is explained in a very practical way. It is not only about what innovation accounting is, but even more about how to set up your own innovation accounting system, including examples of KPI's and dashboards on different levels: From measuring the performance of corporate startups, and innovation portfolio's, to the impact on the bottom line on the business with dashboards to report to "the board".

I recommend this book to everyone who has a running innovation portfolio and would like to start making data-driven decisions.

[Julius · Rating 3 out of 5]

An sich sehr gut, aber es hat doch mitunter die gleiche Schwäche wie all die anderen Innovation Management Konzepte: Es gibt kaum sinnvolle Ergebnismessgrössen.

[John · Rating 5 out of 5]

If your senior leadership team is looking for a data-driven "accounting" system to measure, understand and guide its innovation portfolio--getting them fully behind your corporate innovation strategy--this one-of-a-kind book, and roadmap, is for you.

Pulling together these ideas and insights must have been a herculean task. Congrats to the authors. I also recommend their complementary work, "The corporate start-up."