A Guide to Selecting the Right Project Management Software Solution for Your SME

When you start the search for a new project management solution for your small to mid-size firm, the choices can be overwhelming. Finding the right software for your organization starts with understanding your business needs. A small firm with a handful of clients and simple projects will have different requirements from a large firm with multiple practice areas. Finding the software that’s best fit for you requires a critical look at your requirements and the challenges you’re currently facing. Start by talking to people throughout every department in your company to find out what their biggest challenges are. You might be surprised by what you learn. We often see companies that start out thinking they need a solution to manage tasks and scheduling, but they quickly discover they could see even greater efficiencies with a system that automates project billing as well.

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Once you have a solid understanding of your pains, you’re in a much better position to evaluate solutions. There are many options to choose from, but not all systems are made equal. When it comes to project management software, there are essentially three tiers:

  1. Project Management Tools: These are the most basic applications that help you manage your tasks and improve team collaboration.
  2. Project Accounting Software: This moves a step beyond simple project management and integrates project billing with your activities. These solutions will often include some level of project budgeting and resource allocation.
  3. Project-based Enterprise Resource Planning (ERP) Systems: You might hear “ERP” and immediately question why you would need an ERP system when what you really need is project management. The answer is simple – a project-based ERP, like Eralis Project, based on SAP Business One, integrates your entire business into a single system. Instead of manually transferring data back and forth from your project management tool, to your accounting system, payroll application and CRM, you have it all in one place. This has the benefit of improving efficiency as many of your manual processes are now automated. You also have greater data accuracy with a single point of entry. And with all your data in a single system, you can easily assess your performance in real-time.

Now, as we mentioned, a complete project-based ERP solution may not be right for every firm. It’s all based on your unique needs. But with a better understanding of the capabilities—and limitations—of each software tier, you’ll be better equipped to select the right project management solution for your company. To help you evaluate the options, we’ve put together this infographic that outlines the typical capability of software options across the three tiers.

Is your firm ready for a new project management tool?
Take our free project management assessment to find out.

Project Management Software Comparison Infographic

2017-11-15T11:18:34-06:00 Project Management|0 Comments

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