You can either do it yourself, or pay someone else to do it. If you choose to do it yourself, allow proper time.If you pay someone else to do it, ensure that they have experience and know what they're doing. It must be done well if you want to enjoy the results (and if you want to avoid having the "neighbors" show you up!).For best results, use the right tools.
So, if we agree that for companies engaged in external innovation, tech scouting should be done and requires good tools...allow me to suggest one that can help make tech search more productive: Innography. Among other features, Innography has a powerful, semantically sensitive search engine which ties to an expansive online worldwide patent and trademark database. This database allows intrepid searchers to generate IP derived leads and inspirations (i.e. "fodder" to spark follow-up).
See You at INPEX?