Project management ERP for improved performance

The best ERP for project management must have a certain number of features to make a real contribution to boosting business activity. Visual and accessible information, process automation and inter-departmental coordination features are among the most important.

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

What is ERP for project management?

A project management requires the collaboration of different departments within an organization. Not only from a technical point of view. But also from a company-wide perspective.

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 and marketing.

ERP applied to project management enables tasks to be coordinated, actions to be automated and processes to be managed more quickly and easily. But beyond the technical aspects, this tool also makes it possible to involve other areas of the company that are essential for improve the company's overall results. This is the case, for example, with accounting and finance, or the human resources department.

The first, to check that everything is on budget. The second, to corroborate that schedules are being adhered to, coordinate performance evaluations and so on. 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 value group within the organization can be coordinated through this functionality in a much more agile, faster and error-free way. Hence its importance.

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

A ERP for project management offers specific detailed below.

1. Visibility and simplicity

With this type of tool, a project manager or team leader can easily visualize the real state of the project at any time and from anywhere.

Progress, graphics, deadlines, costs... A global vision with permanent access to all types of information. Which, at the same time, is represented in a simple, visual way, enabling rapid understanding of the overall project status, and speeding up the decision-making required to achieve objectives.

And in a transversal. This key information is not only accessible to the project manager. It's also accessible to HR. HR, who can check on absences and team productivity, or the need for new profiles, training itineraries... Accounting too, to check that the hours invested are budgeted in line with profitability requirements.

It's a multi-departmental feature that provides valuable, real-world information for improving all areas of the business.

2. Increased project and company performance

Thanks to the above, it's easier to identify and anticipate opportunities for for cost optimization. With an ERP system, we don't just make it easier to achieve objectives.. What's more, we can easily reorganize resources to further maximize the KPIs that we have determined to be relevant.

Let's say we set ourselves the goal of completing the development of an application for mobile devices in three months.

A good ERP project management system will not only ensure that we achieve this goal. It will also enable us to quickly identify areas for improvement that could further reduce this initial target. With the cost savings and improved profitability this implies for the company, it will be able to free up resources sooner to devote to other projects.

By identifying problematic projects, we can take corrective action, for example:

• Negotiating with customers
• Change the resource planning (reallocate tasks to the most junior)
• Finding ways to speed up lagging projects

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3. Save time and improve collaboration

Another key advantage of ERP for project management is that it time savings for any process. There's no need to manually fill in activity reports. No more need to notify completion of previous tasks so that subsequent tasks can begin. All these communications are centralized and automated, saving a great deal of time when it comes to coordination.

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

Improved communication and coordination

Communication needs and time spent in meetings are considerably reduced. The quality of communication and can focus on the really relevant and strategic aspects, rather than on operational issues.

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

To take the example of application development, the finance and accounting teams are not involved in developing the code needed for the application to run smoothly. However, their contribution is essential to ensure cost control, which has a direct impact on profitability.

Another example: resource planning meetings are no longer a headache. There's no need to send emails to correct schedules, everything is centralized in a clear, simple view. This makes meetings faster and more efficient.

4. Greater team and employee satisfaction

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

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

Employees are the protagonists of their own performance

In the end, employees can concentrate on the tasks that really enable them toperform quality work more efficiently. As a result, they deliver a higher-value project, enabling the company to grow.. Company growth which, at the same time, will enable professional development which will facilitate the creation of career plans that meet the growth needs of talented employees.

At a time of talent crisis, when employees are demanding that the company meet certain needs (such as their professional development), an ERP project management system is an excellent tool for reduce turnover within a company.

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Who benefits from ERP for project management?

As we have seen, the benefits benefits of ERP for project management are cross-functional. As a result company as a whole benefits from the benefits of this type of tool.

Starting with the operational teamwho have a greater ability to direct, coordinate and optimize processes.

The finance and accounting team have complete, reliable, real-time control of key data such as costs and profitability via the project key performance indicators. Invoicing is facilitated and cash flow can be optimized, thanks to the automatic invoicing reminders offered by this type of tool. What's more, all data can be imported into the accounting software with just a few clicks, further enhancing the relevant information provided by the ERP.

Many divisions benefit from ERP for project management

Another major beneficiary of using ERP for project management is HR. Effective working hours, profitability, overloads, absences, performance, expense management... A multitude of operations are centralized and accessible. This saves the personnel department a considerable amount of time, which it can devote to valuable issues.

For example, improving training itineraries, reviewing incentives or ensuring adequate career planning for all employees. These issues have a global impact on the company, improving productivity and positioning HR as a key department. These are issues that have a global impact on the company, improving productivity and positioning HR as a key department.

Finally, the senior management is the main beneficiary of this type of solution. All company processes become more efficient, optimal and measurable over time.