The efficiency with which a business function is greatly dependent on how well it is managed. Over the last decade, the advent, development, and optimization of management software have streamlined the management process and increased efficiency, since employees are a lot more likely to thrive under strong management. The software has not only changed the way management is viewed but has also addressed the optimal use of resources and personnel. Here are five types of management software essential to successfully manage a business in 2021:

Project Management Software

Project management software will help you streamline the workflow of multiple teams involved in a project, by combining project planning, communication, tracking, task allocation, and management into one powerful software. This is especially helpful for larger teams wanting to optimize their collaboration process, both within the team and between the team and their client. It also supports the creation of different iterations of the task planning process, to allow users to achieve maximum productivity.

Project Portfolio Management Software

Having a project portfolio management software is important to maintain and manage your organization’s portfolio, regardless of whether you plan to define your portfolio by the organization, enterprise, internal or external product. This is an excellent way to keep track of your capabilities, dependencies, funding, visibility, and ROI targets. This software also allows users to prioritize work, balance capacity against demand, and streamline their resource allocation process at the organization level.

Sales Management Software

Sales management is essentially the process of coordinating the sales team of an organization, from the acquisition of resources and personnel to the execution of the sales strategy. Even though most organizations have a sales process in place, sales management software can help plan and manage the entire process, directly influencing the revenue of the organization. It can also help managers identify the strengths and weaknesses in their sales strategy, so the process can be optimized to further increase revenue.

Resource Management Software

According to a 2020 study by the Project Management Institute, up to 11.4% of an organization’s resources are wasted due to poor management. This will directly impact the organization’s expenditure, and having resource management software integrated into the resource acquisition and allocation processes can help managers ensure the efficient use of the organization’s resources. Most resource management software are equipped with functionalities to support complete breakdowns of project details and allow the management of resources at each stage of the project.

Customer Communication Management Software

The networking boom brought with it the need for companies to effectively and efficiently communicate with clients across multiple platforms. A customer communication management software can help organizations maintain detailed records of all communication data, and increase customer confidence. It is also an excellent tool for quality assurance checks and often also supports automation to help streamline the communication process.

Solid management strategies can greatly improve the efficient use of an organization’s resources, and improve client interactions. Management software provides the support needed to effectively manage projects and personnel, thereby mitigating the loss of revenue in the form of wasted time and resources.