Project Management Software

What Is Project Management Software?

27-Jul 2021

Do you struggle to keep the ever-growing list of your company's projects straight? If so, you're not alone. Managing projects isn’t easy without a surefire way to organize your information and help your team collaborate.

That’s why you need to do everything you can to simplify the process. Properly managed projects are 2.5 times more likely to succeed, so you can’t afford to take project management lightly.

The good news is that you have plenty of options to help you keep your projects running smoothly. This article explores what project management software is, how companies use it, and the benefits it will bring to your business.


What Is Project Management Software?

Project management software is a broad term referring to a wide range of programs designed to help people manage their projects. These products range from a simple checklist or calendar to help you organize smaller projects to robust full-featured tools that let you oversee the entire project lifecycle.

What’s the Purpose of Project Management Software?

Project management software is designed to help businesses and individuals track projects, tasks, and schedules. It's a great way to stay organized and ensure that your team remains on-task. You'll find a variety of features in different project management software, but they typically share the following aspects.

1. High-level project overview

Project management software is a great way to help all the pieces of your project to function as a unit. If you have multiple departments working on the same project, a tool like this will help you manage those teams and ensure that everything is completed on time. All someone needs to do is sign into your cloud-based project management software to obtain the latest updates and communicate their status.

2. Task management

When you’re managing a project, it’s essential to track all the individual tasks your team members must complete. With a project management system, you can assign tasks and receive notifications when they are completed. Some programs also let you manage due dates and deliverables to help keep your team on track.

3. Reporting

Modern project management software has robust features that help you build reports and dashboards to display every project's status. It's a great way to keep yourself informed about everything going on and see how long each major task is taking through a real-time view of your team's functionality.

4. Time tracking

Automatic time tracking is a vital feature of project management software, especially if you want flexible invoicing for your clients. With these tools, you can log the hours worked on each task and combine it with other data to create a comprehensive project report that you can send to both team members and clients.

Why Use Project Management Software?

Project management software's features don't tell the whole story about why you should use it in your business. Here are just a few of the business benefits you'll see when working with project management software.

1. Better project planning

If you're a business owner, you need to take a long-term view of your projects. The more you plan for the future, the better you can avoid common problems. Once you have a solid system in place, it will help your team work together and stay on target as they move forward. The high-level overview provided by project management software provides everything you need to build that system.

2. Ease of communication

Managing everything your team does is nearly impossible in a business environment without some kind of tracking system. With project management software, you can keep all your tasks organized and then communicate that information to your team by sending them messages through the software. 

This eliminates much of the need for communicating via email or other tools, which means you're more likely to stay focused on the project at hand and avoid potentially damaging distractions.

3. Faster project completion

Many people find that project management software helps them stay on track and keeps their projects moving forward faster. The built-in features will get you where you want to be, and keep you there. Features like task management, collaboration, and reporting provide everything you need to stay updated on your project's status and quickly pivot when necessary.

4. Better budgeting

If your projects are well organized, and you know where all your time is going, it's easy to see how much they will probably cost. Combine that information with billing data, and you will have an accurate estimate of the project's actual cost before you ever start.

Who Uses Project Management Software?

Businesses of all types use project management software to track their projects. These tools can help you stay organized and stay on target so that you don't have to scramble to get everything done when deadlines come up. It works best in teams, but you can also use it to administer personal or individual projects.

One business field that consistently uses project management software is the professional services industry, in which a firm typically works with many different customers. Project management software offers a way to organize those customer projects in a single location and then successfully collaborate with your team and customers.

Take 3 Media Web, for example. Project management software gave them the means to organize their company’s growth and helped contribute to their success. Marc Avila, the company's CEO & Founder, said that before Accelo his team was managing every project in Excel sheets, hopping back and forth from invoicing platforms to time tracking tools, and giving away their services for close to nothing because they weren't properly managing their projects. 

By adopting Accelo, they were able to use operations automation and project management software to save themselves 20 hours a week!

Wrapping Up

By now, you should have a better understanding of what project management software can offer your company. Not only will it let you organize and structure your projects, but it will also give your team an easy way to stay on track. You’ll be more efficient, launch projects faster, and improve your chances of success.

Accelo’s project management capabilities go far beyond what a stand-alone project management tool can do for your business. Your team can monitor and direct all aspects of your projects from lead, to close and managing that client relationship going forward all from one convenient platform.

If you’re convinced that project management software is right for your business and you want a platform that can manage the entire customer life cycle, sign up today for a free trial to explore everything Accelo has to offer.

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