Resources are the lifeblood of any business. Without proper raw materials, proper machinery, capital, and human capital in place, a business can never become profitable. In fact, a business can never function properly if there’s a scarcity of any resource.
However, having all the required resources is not enough. The management of resources is also crucial. It allows you to accomplish more with less. On the other hand, mismanagement of resources can lead to increased operational costs, less efficiency, and wastage of resources.
Looking for Resource Management Software? Check out SoftwareSuggest’s list of Best Resource Management Software solutions.
Managing employees or team members can turn out to be disastrous without a proper tool or plan. Business projects, difficult clients, sick leaves of employees, and getting work done on schedule – all such processes can become trickier. This is definitely something that you’d want to avoid.
The good piece of news for businesses looking towards resource management is that plenty of software tools are available to assist with the same. There are many resource management software in the market. So, choosing the most ideal tool for your business can be a challenge in resource management. You may have questions like which are good options and what are the must-have features to look for?
In this post, we’ll give answers to all such questions and help you with the selection. But before we proceed, let’s have a brief discussion on why resource management is important for your business.
What’s the Need for Resource Management?
In simpler terms, resource management is a process of managing resources in order to make them reach maximal efficiency and productivity. It helps managers to keep track of ‘who is doing what, by using what, how, and when?
Resource management software is primarily meant to schedule and assign tasks to available resources. It also maintains an inventory of available resources and sends alerts in case of low volume. In addition, the program takes things from a macro perspective so that you can overview the work status in long term. This certainly helps in forecasting, predictive analysis, and also helps in deploying your workforce at the right time.
Without a proper project management tool, your team members, your supplies, and your budget are more likely to be intimidating and time-consuming to tackle, thus hindering the team’s productivity, project’s profitability, and timeline of the project.
In a nutshell, resource management software ensures resource utilization, transparency, control, foreseeing problems.
- The software provides an overview of resources and their allocation in the project
- It ensures proper utilization of resource
- It enhances the transparency in planning and management
- The software helps in detecting the problems at the early stages
- It gives complete control over the project
How to Find a Suitable Resource Management Software for Your Business?
Resource scheduling is much more than simply assigning projects to resources. Having discussed resource management software and its importance, let’s now have a look at some of the best ways through which you can find the right tool for your business:
Look for Important Features
The features of a resource management tool can either make or break your business. Although there is a multitude of things that should be taken into account, the following are the must-have features that you should never compromise with:
- Wider Visibility: Having wider visibility regarding your project is beneficial for the resources and the business as a whole. What could be simpler than having a bird’s eye view of your project’s requirements and future outputs?
Thus, always choose a resource management software that gives you sufficient visibility for forecasting the project’s results and requirements. This will pipeline your work and assist your workforce to do justice to the project in time. It will also reduce any kind of miscommunication among the resources. Besides, it gives a visual appeal to your timeline. One can use the Gantt charts, relevant filters, and color codes to allocate the right job to the right resource.
- Reliability: Earlier, paper files and non-digital calendars were the only resource planning tools available in office spaces. They were difficult to manage, organize, retrieve, and they could be easily destroyed or lost by anyone. Although digital spreadsheets are becoming popular and the right choice nowadays, it is always recommended to choose a tool that goes that extra mile.
Therefore, always try to go for resource management software that is based on cloud programs. Having a cloud-based tool will help you in immediate backups and synchronization processes. Any change done by the authorized user will be reflected in the shared data. This ensures that you will never lose the data and get relevant as well as reliable information on the go.
- Interoperability: The more able your software is to interact and function with other systems, the easier it becomes for you to meet the project’s deadlines. Interoperability is especially important when you have to constantly retrieve, analyze, or send reports across the departments, which would otherwise become a time-consuming task.
By choosing a resource management tool with higher configurability, you can speed up the business processes, easily integrate with multiple platforms, align data as per the business structure, and ensure that the updated information is reflected to the shared user in real-time. Thus, not just the accuracy and speed will improve, but also the productivity as a whole.
- User-Friendly: Effortless usability is one of the most important features that various businesses seek. Imagine a business with around a thousand employees. If the resource management software will not be easy to understand or use, the employees will have to be given extensive training before jumping directly to work. This will require a great deal of time and money, isn’t it so?
Having said that, always choose software that is user-friendly for your employees.
Opt For a Suitable Type of Platform
On a general basis, two types of platforms are there in resource management software: Installed Software and SaaS. When talking about installed software, one cannot use it on any device. It is more of a ‘one-time’ kind of software that needs to be installed once. However, when we talk about SaaS, it is a more plan-oriented program.
So, how to know which platform is good for you?
In case you are stuck with your work computer, installed software will serve the purpose. But if you have demanding work that needs more flexibility and accessibility, then it is recommended to go with a SaaS analytics. With such freedom, there come security issues too, which might prove risky for your business. Thus, always check your security level and the types of networks you are using before choosing SaaS.
Research & Compare
Always do proper research while finding the best resource management tool. Visit websites that provide an easy and simple comparison among different software. Compare the prices, features, and check the performances through free trials. Check out the customer’s reviews and ratings as they bring forth all the positive as well as the negative aspects of the tool.
All such things will help you narrow down your choices to the best ones!
Check the Pricing
You should always buy a software tool that falls within your budget, but at the same time, you should not compromise with the quality and performance. If you do not have hundreds of employees, several feature-rich resource management tools are available free of cost.
In case you have a large number of employees, you should first make your budget and then go for the suitable tool. It is also important to consider which features will you miss or gain if you opt for a penny less or more. If there are some important features that you are missing, you should think of increasing your budget.
Choose a Software That Caters to Most of Your Resources
Your business does have living as well as non-living resources, isn’t it so?
In resource management, the whole focus is only on the available resources. Thus, when you look for the right resource management software, you should always go for a program that caters to all of your resources, be it non-living or living.
If your resources are human beings, you need not worry because there are numerous human resource management software out there for managing them. You can assign tasks to your employees, make schedules for them, monitor their work, organize meetings with them, and carry out many other management processes with ease.
However, if your resources aren’t people, then you can go for tools that are only meant for project staffing or allocation. In case you have both (living and non-living resources), you need to adopt an all-around resource management tool that could meet up with the heavy management processes.
The Bottom Line
No matter how big or small your project is, your business heavily relies on the available resources, not only to achieve success but also to survive in the competition. By following the above-mentioned tips, you can deploy suitable and effective resource management software for better management, especially in terms of execution.
Your smart steps now can lead to several future benefits! So, embrace the technology to manage better!