10 Amazing Benefits of a Project Management Software

on Automation, Project Management Tool, SaaS, Task Management Tool, Tasks, Time Tracking Tool • November 16th, 2021 • Write for Hevo

Project Management Software - Featured Image

Efficiently organising the Workflow and Managing Multiple Projects has always been a challenging task for project managers across businesses of all sizes. Whether you are just starting out or own an existing business, the prime concern is to utilise all your resources optimally for maximum productivity and timely execution of projects to meet your business goals. Manually juggling between several tasks such as assigning roles, inquiring on project status, updating task timelines, organising weekly meetings, etc, can easily become overwhelming and chaotic.

An elegant solution to this is a Project Management Software. The benefits of Project Management Software are limitless as it seamlessly assists you in Project Planning, Resource Management and promotes Team Collaboration. The main advantage of Project Management Software is that it takes care of all the mundane tasks so that you can get the real work done.

In this article, you will learn about the Key Benefits of Project Management Software for your enterprise.

Table of Contents

What is a Project Management Software?

Project Management Software - Project Management Diagram
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At times, you may find yourself putting a lot of effort into projects but not generating the required profits as a great amount of time is lost in performing small routine tasks. A Project Management Software is a smart tool that eliminates the need for manually tracking the Project progress and provides a bird’s eye view of your Workflow. The Project Management Software features include Real-Time Reporting, Budget Management, Finance & Billings, Resource Allocation, etc.

With a user-friendly interface, the Project Management Software is designed with an easy Onboarding process to get you started in no time. Adding to its flexibility, the software can comfortably adapt to your business’s existing methodology and helps you in monitoring all aspects of Project Management in your organization.

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Let’s look at some of the salient features of Hevo:

  • Fully Managed: It requires no management and maintenance as Hevo is a fully automated platform.
  • Data Transformation: It provides a simple interface to perfect, modify, and enrich the data you want to transfer. 
  • Real-Time: Hevo offers real-time data migration. So, your data is always ready for analysis.
  • Schema Management: Hevo can automatically detect the schema of the incoming data and map it to the destination schema.
  • Connectors: Hevo supports 100+ Integrations to SaaS platforms such as Trello, Asana, Files, Databases, BI tools, and Native REST API & Webhooks Connectors. It supports various destinations including Google BigQuery, Amazon Redshift, Snowflake, Firebolt, Data Warehouses; Amazon S3 Data Lakes; Databricks; and MySQL, SQL Server, TokuDB, DynamoDB, PostgreSQL Databases to name a few.  
  • Secure: Hevo has a fault-tolerant architecture that ensures that the data is handled in a secure, consistent manner with zero data loss.
  • Hevo Is Built To Scale: As the number of sources and the volume of your data grows, Hevo scales horizontally, handling millions of records per minute with very little latency.
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  • Live Support: Hevo team is available round the clock to extend exceptional support to its customers through chat, email, and support calls.
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Top 10 Benefits of Project Management Software

While deciding whether to employ Project Management Software for your business, the main question that pops up is “What are the benefits of Project Management Software?”. This is a perfect tool that offers a plethora of features allowing efficient team communication, enhancing productivity, and eventually boosting your Sales. Let’s discuss in detail the benefits of Project Management Software:

1. Fluent Project Planning and Scheduling

Project Managers have realised over time that efficient project planning and scheduling are at the core of the successful execution of all tasks. It goes without saying that crisp and clear project planning and task prioritization are essential for timely completion. Giving you an edge over Traditional Project Management, the modern Project Management Software can provide precise AI predictions such as estimated project completion time along with various parameters like cost, scope, and schedule.

Laying a Robust Foundation at the start with these tools can help the business teams get an overview of the important milestones, key deliverables, and roles before executing. This allows the team members to allocate their time and plan overhead to achieve the desired results. More importantly, these tools continuously track your Project Performance against the baseline and update the plans regularly.

2. Effective Budget Management

Project Management Software - Budget Report
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Keeping a close eye on the Project Budgets is an important aspect of Project Management. As time progresses, there are chances that your project might veer off track and may land you in an expensive situation. One of the intelligent benefits of Project Management Software is that it assists you in controlling the budget allocated to your tasks from the initial definition to the final product delivery. 

This allows managers to observe where the money is being spent and identify the source of the leak. This effective Project Management benefits the entire project as now the managers can execute the necessary tweaks to prevent the costs from skyrocketing. With the Modern Project Management Software, you can also automate your invoicing process allowing you to focus on more important business activities.  

3. Real-Time Reporting

Project Management Software - Real-Time Dashboard
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Continuously monitoring the Project Status is elementary for the fruitful execution of all the tasks. Adding to the benefits of Project Management Software, the visually stunning Reports and Dashboards act as a Single Source of Truth for the Project Managers. Real-time monitoring of different stages of projects provides deeper insights into whether things will complete on time or not.  

The Project Management Software like Asana gives you additional control over the Reports as you can easily design and build customized reports for your business cases. This is a quick method to identify the best-performing teams and observe any negative trends that need to be addressed. Comparing multiple reports can provide you with a clear picture of the problem at hand and how to tackle them effectively.

4. Remote Working

Project Management Software - Remote Working
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It often happens that organising and attending project meetings physically is not possible for various team members, thereby causing further delays in the project timeline. Nowadays, numerous organizations also offer flexible hours and remote work. This is feasible by using the Project Management Software features i.e. the Meet and Chat options.

This allows you to continue working remotely from any location with the option to connect with your teammates instantly. With a reliable Internet connection, you can eliminate all the collaboration issues and promote interaction and brainstorming.  

5. Transparency

While working on the job assigned to you and your colleagues, it is important to get acquainted with what tasks are assigned to whom, what are the project deadlines and the current status. This prevents any overlapping of roles and promotes discussions among employees who are working on similar projects.

Project Management Software allows access to all major stakeholders of the project activities and progress giving them an outline of the Workflow. These tools provide a transparent environment that essentially prevents any bottlenecks by keeping everyone aware of the upstream and downstream workloads and deadlines. 

6. Easy and Secure File Sharing

Securely storing and sharing files across your business is an equally important aspect to maintain every organization’s confidentiality. Along with secured document sharing, Project Management Softwares like Trello, Asana, etc, offer storage where users can make changes, leave feedback, and annotate easily. For a more transparent ecosystem, these tools also record the changelogs for these files.   

7. Improved Communication & Collaboration

A clear line of communication both internal and external of the organisation, helps enable transparency and collaboration across all the departments. The Project Management Software allows you to share Dashboards, Reports, and other documents with your team in real-time, thereby keeping everyone updated. With Access Management options, you can also provide your clients and suppliers the ability to log in and view only project data relevant specifically to them. This way clients can provide accurate feedback, make changes, and review project progress on the same spot. 

When inducting new members into your team, it is a tedious task to get them up to speed with the current projects in a short span of time. Project Management Software automatically maintains a project log that can help in visualizing the entire project in a simplistic manner. 

8. Refined Resource Management

Project Management Software - Resource Management
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With the right Resource Management Strategy, project managers can allocate the resources where needed to deliver the project successfully. Using the Project Management Software acts as a technological aid to simplify this process. The informative Real-time reporting helps you monitor the deadlines of the project and prioritize the tasks by moving other operations ahead and making room for the high-priority ones.

Using intuitive Project Management Features such as the Heatmaps, you can track individual workloads and ensure no one is overburdened with unrealistic deadlines. If team members have completed a task ahead of the schedule, you can easily assign them to help out in a High-Priority Task.

9. Enhanced Productivity

A dedicated Project Management Software can aid in fluently utilising the abilities of your team members as well as ensure the timely execution of individual tasks. With everyone being aware of their roles, responsibilities, and deadlines, team members can visualise the various sub-tasks and focus on their work, thereby increasing productivity. As all the project files, documents, and reports can be found at a central location, you can always easily make informed decisions quickly. 

10. Better Risk Mitigation

Project Management Software - Risk Management
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Over the course of time, you may face some challenges in your Project. An effective Project Risk Management plan is required to identify and analyse and respond to any risk that arises over the life cycle of a project to help the project remain on track and meet its goal. 

Another major advantage of the Project Management software is that it can assist you in accurately identifying the bottlenecks and employ effective countermeasures. By allocating the required resources, this tool helps in mitigating the risk and improves the overall efficiency of the team. 

Conclusion

In this article, you have learned about the 10 Key Benefits of Project Management Software. In modern workplaces, it is common for project managers to handle multiple projects simultaneously. Using the Project Management Software, you can eliminate repetitive tasks and focus on planning business strategies. Project Management Software provides a smooth process to assign roles, set deadlines, allocate resources, generate custom reports, and promotes team collaboration. With this tool at your side, you can improve your productivity by optimally utilising your resources to boost sales and growth.

As you employ the Project Management Software in your business, massive amounts of data start generating associated with your projects, employees, clients, and suppliers. Integrating this data with all the applications across various departments for Marketing, Accounting, Human Resources, Customer Relationship Management, etc. can provide a deeper understanding of your business performance. To efficiently this tremendous volume of data you would require to invest a section of your engineering bandwidth to Integrate, Clean, Transform and Load your data into your Data Warehouse for further business analysis. All of this can be comfortably solved by a Cloud-Based ETL tool like Hevo Data.  

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Hevo Data, a No-code Data Pipeline can accurately transfer your data from a huge collection of sources into your Data Warehouse or a destination of your choice for free. It is a reliable, efficient, fully automated, and secure service that doesn’t require you to write any code!

If you are using Project Management Software such as Trello, Asana, etc,  in your business and searching for a stress-free alternative to Manual Data Integration, then Hevo can effectively automate this for you. Hevo with its strong integration with 100+ sources & BI tools (Including 40+ Free Sources such as Asana & Trello), allows you to not only export & load Data but also transform & enrich your Data & make it analysis-ready.

Want to Take Hevo for a ride? Sign Up for a 14-day free trial and simplify your Data Integration process. Check out the pricing details to get a better understanding of which plan suits you the most.

Share with us your experience of learning about the Project Management Software. Let us know in the comments section below!  

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