5 Ways A Project Management Tool Can Help Your Business Grow

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    Project Management Tool

    5 Ways A Project Management Tool Can Help Your Business Grow

    Why empower your workforce with project management software?

    Any organization that wants to serve its customers better should be well-equipped to effectively tackle the project management challenge. Handling multiple client projects and commitments while ensuring optimum utilization of resources involved is often a painful experience for most managers. This is where project management software makes a difference for companies that want to be successful with their daily work management. 

    Project management software can help you create milestones and define the core objectives of the project. Studies have shown that 37% of companies today fail with either of these. How can a software-powered project management approach positively influence work management across organizations that handle heavy workloads?

    Related Reading: 5 Digital Capabilities Every Small Business Needs To Invest In 2020

    Here are a few ways by which project management apps help companies tide over the challenges that plague their work management process:

    1. Consolidate Work

    Successful delivery of the project to a customer involves a combination of contributions from the service delivery team, billing, finance, sales, account managers, documentation and several others. A comprehensive project management software can bring about a unified platform where all these stakeholders can track the progress of their individual jobs and tasks. It can be a one-stop solution that can help every step of the way from sending quotes to potential customers identified by the sales team to share invoices on the basis of service metrics delivered like billable hours and resource utilization. Bringing all these into a single platform can bring huge relief for managers across departments that are involved in delivering the final service or product to end customers.

    2. Track Customer Sentiments

    It is a fact that most customer aspirations change over the course of a project and a lot of effort gets wasted in managing changes. With a powerful project management tool in place, it will be easier to accommodate changes in project scope and new requirements without impacting service or work quality. It will be easier to send revised estimates of cost and timelines if everyone utilizes the digital platform to manage their tasks and dependencies. It will be easier to predict the impact that will be experienced due to a new scope change across all departments and stakeholder functions involved in its execution.

    3. Foster a Collaborative Culture

    When people work in teams to contribute towards a customer project, the most essential capability that they need for attaining success is collaboration. Teams need collaborative spaces where they can discuss work, plan meetings and schedule task deadlines. A project management software offers a virtual workspace that allows teams across departments or offices across geographies to come together and collaborate on a customer-facing task. This allows companies to manage and engage remote workers as well.

    Related Reading: 5 Tips To Foster Team Collaboration In A Small Business Environment

    4. Manage Dependencies

    A comprehensive project management tool enables teams to work in sync and define dependencies in advance. This allows for proper planning and increased visibility into tasks that have multiple stakeholders who contribute to the end result. The improved transparency will ensure that every member of the team feels responsible for his or her outcome as they can see how their task progress is impacting the work of others. It also enables managers to seamlessly handle project schedules based on resource availability or task progress metrics.

    5. Empower Leadership Decision Making

    With a project management platform, it is possible to run risk analysis and other measurements on the progress of projects which can help leaders make better decisions. It is possible to calculate costing, resource utilization, timelines and other factors that can inspire decisions related to hiring, client communications, invoicing and even serve as an impetus for sales and marketing teams. Unexpected emergencies and risks can be avoided to an extent if all teams work in sync with the centralized project management tool. This includes the case of even remote workers and managing their working hours which may be in other time zones.

    Project management will always be one of the key pillars of success for any business. From meeting customer expectations in delivery timelines to estimating resource requirements, it covers a wide spectrum of managerial activities that take a lot of effort. Bringing this entire aspect into a powerful digital platform will enable better operational efficiency and ultimately lead to a more productive workforce. Platforms like Infince have been helping business to manage their most critical operations successfully with digital power. 

    Related Reading: Features to look for while selecting a project management tool for your small business

    Project management is one of the key offerings from Infince. With a track record of enabling seamless project management for leading businesses across industries, Infince can be the game-changer in bringing a streamlined project management culture in your business. Talk to us today to know more.

    Ashni Lukose

    Ashni Lukose

    I am a Product Consultant, living at the intersection of empathy, design, engineering and helping teams craft Products that bring a smile. I believe that technology best serves its purpose when we use it to address deep problems without losing sight of the human nature of its users. Truly transformative technology is one that seamlessly becomes part of the daily narrative of its customers, aiding them to achieve their goals faster and easier.

    More posts by Ashni Lukose

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