Helping SMBs Save the Day: Finding the Right Project Management Software

Managing projects for small and mid-sized businesses (SMBs) with limited people and processes can be challenging. Big businesses have dedicated managers for sales, marketing, and product development, etc., Whereas small-business project managers must wear multiple hats to ensure smooth functioning of multiple departments. Therefore, it’s important to find the right project management software that can help businesses maximize output while juggling between multiple tasks.

Rising Demand for Project Management Software

Organizations, irrespective of their size or work mode, are turning to project management software as it offers a host of tools and connectors that allow both teams and project managers to organize, collaborate, and monitor the work in real-time. This ensures successful project delivery, right from the start to finish.

SMBs can use project management software to stay on schedule, allocate resources strategically, and track project success effortlessly, whether working in the office or remotely. This powerful tool serves as a centralized repository for conversations, information, data files, and other important assets. All this ultimately leads to streamlined communication and improved productivity. Thus, no wonder why the demand for project management software is rising incessantly, promoting it from a good-to-have to a must-have tool.

A recent report indicates that the global project management software market size is estimated at USD 6.54 billion in 2024. The same is expected to grow at a CAGR of 10.67% from 2024-2029 and surpass USD 10.86 billion by 2029. Given the multitude of benefits a project management software offers, more and more businesses are investing in this essential tool.

How to Choose the Right Project Management Software

With hundreds of project management tools available in the market, choosing the best one can be a daunting task for anyone. Too often, project managers don’t understand what makes project management software a good fit for their team. When choosing a project management tool, it is important to keep in mind that every team is different from others and every project is unique, and there is no one-size-fits-all approach. In such a scenario, it makes sense to follow the below steps to make an informed decision:

1. Outline Project Management Needs

Selecting the right tool begins with a clear and honest assessment of the challenges that come along the way during project management. First things first, outline all the pain points that could include:

• Uneven workload between team members
• Inbox overflowing with tons of email
• Disorganized workflows and missed deadlines
• Way too many meetings that end up wasting productive time
• Lack of coherent communication between teams

After documenting all the pain points, project managers need to ask themselves – does this project management tool address all these challenges? This will help in narrowing down the search and shortlisting the tools that solve the challenges faced during project management.

2. Make a List of Features Required

Choosing a project management tool is like buying a house. When selecting a property, several aspects need to be considered such as the location and size of the property, age of the house, proximity to work and school, monthly budget, mortgage rates, down payment, job security, etc. Based on these parameters, users make buying decisions.

Similarly, while selecting a project management tool, project managers must consider factors such as resource management, deadlines, and project goals. Fortunately, project managers can opt for a tool which comes with the most-used features including resource allocation, budget planning and management, task management, resource management, time-tracking, reporting, invoicing, collaboration, process automation, and more.

3. Don’t Forget to Ask Team Members

Project managers should never overlook their team’s needs when looking for project management software. The reason is different team members may be using different software for collaboration, reporting, and tracking due dates. The project management software selected by managers should be capable of enterprise-wide use. Besides this, project managers should ask their team members about the third-party applications they are currently using since they may have to integrate them with the project management software later.

4. Plan for Future Growth

In the case of business, the situation is different since businesses are expected to grow. When investing in project management software, it becomes imperative to consider future growth and choose a tool that can easily handle that growth without hiccups.

Why Businesses Choose monday.com for Project Management

monday.com is a Cloud-based project management platform designed to get more work done in less time. It allows users to manage everything, including sales and marketing, software development, and operations, etc. This flexible Work Operating System (Work OS) has been around for years and is backed by 152,000+ customers across the globe. It allows project managers to build and streamline workflows using customizable functionalities, regardless of whether the users possess any coding know-how or not. To make the most of this tool, it’s considered wise to seek end-to-end consultation from certified monday.com experts.

monday.com offerings considered by businesses globally:

• Hundreds of ready-to-use templates to help teams get started quickly
• A slew of data visualization options including Gantt, Kanban, and timeline
• 40+ integrations to bring all popular work applications at one place
• Personalized 24/7 customer support from monday.com specialists
• Hundreds of automation features to offload manual drudgery
• Project planning and scheduling are an absolute breeze

Summing Up

Choosing the right project management tool out of the myriads of options available in the market has never been an easy task. Hopefully, after reading this detailed guide, project managers can make an informed decision and choose the right software that best caters to their existing and future requirements.

If you are planning to hire monday.com experts for your business, you may reach out to seasoned professionals. There are many certified monday.com partners out there that will help you unlock the potential of this project management platform and create an environment of innovation and collaboration within the organization.