A project management ERP for better performance

The best ERP for project management should have a number of specific features to really help drive business activity. Visual and accessible information, process automation, and cross-departmental coordination features are among the most important.

Below we take a look at what an ERP for project management is. Some of these most relevant features and the real benefits they will bring to the company that opts for this type of functionality.

What is an ERP for project management?

Successful project management requires the collaboration of different departments within an organization. Not only from a technical point of view. It is also from the overall company point of view.

If, for example, a company is preparing to develop and launch a new application, it will need to coordinate human resources from different sectors. From the development team to design or marketing.

An ERP applied to project management makes it possible to coordinate tasks, automate actions and manage processes more quickly and easily. But beyond the technical aspects, this tool also makes it possible to involve other sectors of the company which are essential to improve the overall results of the company . This is the case, for example, of accounting and finance or the human resources department.

The first, to check that everything is correct at the budgetary level. The second, to corroborate compliance with schedules, coordinate performance evaluations, etc. These are just two examples, but with the right ERP management system, you can go much further when it comes to improving a company's productivity and efficiency.

Relationships with customers, external suppliers or any other valuable groups within the organization can be coordinated through this functionality in a much more agile, faster and error-limiting manner. Hence its importance.

What are the advantages of an ERP for project management? Why choose this type of software?

An ERP for project management offers specific benefits , which are detailed below.

1. Visibility and simplicity

With this type of tool, a project manager or team leader can easily view the real status of the project anytime and from anywhere.

Progress, graphs, deadlines, costs… A global vision with permanent access to all types of information. Which, at the same time, is represented in a visual and simple way, allowing a quick understanding of the general state of the project, and accelerating the appropriate decision-making for the achievement of the objectives.

And transversally . This key information is not only accessible to the project manager. They are also accessible to HR. HR, which can check absences and the productivity of the team or the need for new profiles, training itineraries... Accounting also, to check that the hours invested are adjusted at the budgetary level to profitability requirements.

It is a multi-departmental feature that provides valuable, real-world insights to improve all areas of the business.

2. Increased project and business performance

Thanks to the above, it is easier to detect and anticipate cost optimization opportunities . With an ERP, we don't just make it easier to achieve goals . Additionally, we can easily reorganize resources to further maximize the KPIs we have determined are relevant.

Let's imagine that we set a goal to complete the development of an application for mobile devices in three months.

A good ERP project management system not only helps us ensure that we achieve this goal. It will also allow us to quickly detect areas for improvement likely to further reduce this initial objective. With the savings and better profitability that this implies for the company, it will be able to free up resources sooner to devote to other projects.

By identifying problematic projects, corrective actions can be taken, for example:

• Negotiate with the customer
• Change the resource planning (reallocate tasks to the most junior)
• Find ways to accelerate lagging projects

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3. Save time and better collaboration

Another key benefit of an ERP for project management is the time savings for any process. No need to manually fill out an activity report. It is no longer necessary to notify the completion of previous tasks before subsequent tasks can begin. All of these communications are centralized and automated, saving a lot of coordination time.

Everyone knows what needs to be done and when it needs to be done, because the data is available to everyone on the project at any time and in real time. With automated notifications and alerts that facilitate coordination without extraordinary loss of time.

Improved communication and coordination

Communication needs and time spent in meetings are significantly reduced. The quality of communication is improved and can focus on the truly relevant and strategic aspects, and not on operational issues.

These advancements are particularly useful when it comes to collaborating with other departments who, although not actively involved in the core development of a project, are essential to its profitability.

To return to the example of developing an application, the finance and accounting team does not participate in the development of the code necessary for the proper functioning of the application. However, their contribution is essential to ensure cost control, which has a direct impact on profitability.

Another example, meetings of resource planning are no longer a headache. No more need to send schedule amendment emails, everything is centralized in a clear and simple view. Meetings are thus more efficient and quick.

4. Greater satisfaction of teams and employees

All of the above generates greater satisfaction among teams and employees. They perceive that the company makes it easier for them to shine in functions that are truly essential. The valuable work they can actually contribute to is valued, resulting in a much higher quality end result.

This has a very positive impact on the working environment which, at the same time, generates greater production capacity on the part of the teams.

Employees are the protagonists of their performance

Ultimately, employees can focus on tasks that actually allow them to perform quality work more efficiently. They thus deliver a project of greater value, which allows the company to grow . Business growth that, at the same time, will enable professional development that will facilitate the creation of career plans that meet the growth needs of talented employees.

In an era of talent crisis, where employees are demanding that the company meet certain needs (like their professional development), an ERP project management system is an excellent tool for reducing turnover within a company .

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Who benefits from an ERP for project management?

As we have seen, the benefits of an ERP for project management are transversal . Consequently, the entire company benefits from the advantages offered by this type of tool.

Starting with the operational team , which has a greater capacity to direct, coordinate and optimize processes.

The finance and accounting team has complete, reliable and real-time control of key data such as costs and profitability via project key performance indicators. Billing is made easier and cash flow can be optimized, thanks to the automatic billing reminders offered by this type of tool. Additionally, all data can be imported into the accounting software in just a few clicks, further improving the relevant information provided by the ERP.

Many divisions benefit from an ERP for project management

Another big beneficiary of using an ERP for project management: HR . Actual working time, profitability, possible overloads, absences, performance, expense management, etc. A multitude of operations are centralized and accessible. The personnel department thus saves considerable time which it can devote to valuable matters.

For example, improving training routes, reviewing incentives or ensuring an adequate career plan for all employees. These issues have an overall impact on the business, improving productivity and positioning HR as a key department. These are issues that have an overall impact on the business, improve productivity and position HR as a key department.

Finally, general management is the main beneficiary of the implementation of this type of solution. Indeed, all company processes become more efficient, optimal and measurable over time.