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5 Project Management Software Features That Boost Business Success

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Project management software has the potential to completely transform the way your business runs. It can lead to higher efficiency levels and make it easier for remote work employees to interact with one another. Understanding the top features helps you choose the best software for your business. 

Only 25% of companies use project management software, and if you’re not part of that statistic, then you may need some convincing to invest. Continue reading the rest of this article to learn the top 5 features that make project management software worthwhile. 

1. Scheduling

The scheduling feature of project management tools allows you to set deadlines for each stage of the process for getting a task complete. For example, if you’re working on blog content, then there could be a deadline for:

  • Submitting an outline
  • Creating a draft 
  • Editing
  • Publish on the website

Making sure there is a schedule for each step allows tasks to be completed in a timely manner. Also, the software can inform all team members of the schedule without the need to manually share the dates. This handy feature contributes to automation. 

Project management software like Trello can automate deadlines once a task is moved along the chain of steps. This is a great way to ensure projects are completed on time without the need for the project manager to keep tabs. Once there’s a delay, the software can highlight the missed dates. 

2. Collaboration

Arguably, the extensive collaboration features are some of the top reasons to get project management software. Here is a list of the top features that you should choose with your software:

  • File sharing: the file sharing features are great for allowing team members to upload their work and let others see it without the need to manually ask for a share. This reduces the amount of time it takes for files to share hands so tasks can move along. 
  • Chat: some software options allow you to use chat to communicate with others. Hence, you can ask other team members questions and get clarification if you’re stuck. Some messenger apps also have added functionality, like allowing you to make a video call or multi-member chat. 
  • Team dashboard: another excellent collaboration tool is the dashboard, which allows users to see the details of a project at a glance. It’s handy if you need to look at the overall progress of a project instead of spending too much time on the small details. 

3. Reporting

Project reports are a great way to showcase the success and progress of a project to shareholders, customers, business buyers, and much more. Hence, make sure to look at the suite of reporting tools you can use before implementing project management software in your business. 

Ideally, you should be able to create reports with the click of a button or two. Also, it helps if the reports are visually easy to understand and interpret. This will help people outside of the project to better understand the results. You may want to provide a presentation on your business, and having these reports could be a big part of making those presentations succeed. 

Also, look for reporting tools that offer a wide range of graphs to help you get the look you want. It also allows you to present the data in a way that looks professional, and you can quickly explain what’s going on. 

project management software

4. Budgeting

Making sure that projects are developed within budget is a big part of business success. Fortunately, there’s many built-in tools of project management software that contribute to set and control the budget at every stage. 

You can find out the steps that have gone over budget and the ones that have gone under. This allows you to improve budget allocation for future projects too. That’s because you can receive budget reports that provide insights and suggestions. This is especially true if AI-based tools offer suggestions based on past performance. 

Furthermore, you can use time billing and automated invoicing to make sure that each employee on the project gets paid correctly for their time. This can also be automated to ensure your business can function without manual entry at every step. 

5. Resource Management

Resource management is an important part of any project to ensure that no employees have too much or too little work. Most project management dashboards allow you to clearly see the available resources at a glance. Therefore, you can have a look at the employees that need support and should be given extra work. 

Also, you can filter the resources by the task, so you can identify tasks that don’t have enough resources. Hence, you can prioritize tasks that are the most important for the project. Take the time to learn the filters of project management software so you can use them optimally. 

Some software solutions may provide suggestions on how to allocate resources effectively. It can also give reasoning for their suggestions, which helps you trust the recommendations. AI-based suggestions for tasks like resource allocation are great for efficiency, and the project manager saves time. 

Final Thoughts

To summarize, project management software is a valuable tool for boosting business success to new heights. The combination of features that you should pay attention to includes file sharing, reporting, documentation, graph creation, budgeting, and much more. Make sure that your chosen software has all the tools your business needs to succeed. 

Furthermore, there are so many options on the market for high-quality project management software. It means you can have an easier time choosing the best one for your business at a competitive price. Make sure to compare each one by taking into account the features mentioned in this article. 


About Author

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Rick Mak

Rick Mak is a 30-year veteran businessman, having started, bought, and/or sold more than a dozen companies. He has bachelor's degrees in International Business, Finance, and Economics, with masters in both Entrepreneurship and International Law. He has spoken at hundreds of conferences around the world during his career on entrepreneurship, international tax law, asset protection, and company structure. Business Anywhere Editorial Guidelines

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