Are you looking for ways to streamline resource management? We know that it’s important to boost productivity and profitability. Meticulous planning and management can reduce the chances of project failures, ensuring good returns. Whereas inadequate or faulty resource planning and management can result in substantial resource waste, resulting in losses or low utilization. Leveraging advanced resource management software helps optimize a team’s productivity and boosts the project’s success. Human resources are one of the most critical resources for any organization; thus, it’s important to optimally utilize them. So, read on to check top reasons why resource management software can help your business grow by automating repetitive tasks, monitoring project status in real-time, and streamlining resource management.
Important or Need for Resource Management Software
There are several pros of implementing resource management software to streamline your business. For example, such a tool enables you to:
- Manage your employees effectively: You can monitor all your team members, remote workers, contractors, part-timers, and freelancers in terms of the status of their assigned tasks, which project they are aligned on, and what their utilization is, etc.
- Spot any risks beforehand: A workforce management tool helps to easily evaluate any risk factors in different projects, locations, teams, or resources, therefore highlighting anything that could lead your project to delay or derail.
- Operate efficiently: It’s easy to allocate resources and tasks with just a single click and on one interface, making the entire process very easy.
- An online centralized data repository: Such a tool saves all your data regarding your projects, resources, expense reports, timesheets, and invoices making it a lot easier for anyone to access and pull out required data from anywhere.
- Improved communication and collaboration: A resource management software enables managing multiple tasks and projects at a time, thus aiding the team to monitor and coordinate easily. It also enables sharing data and files and getting reviews done using the tool, thus safeguarding the data.
- Automated tasks and timesheet management: Such a tool helps to automate mundane tasks and monitor and manage your team members’ time, utilization, billing, and more easily with an automated system.
Top Resource Management Software Methods to Scale Business
- Automate manual, time-consuming tasks
If your organization is expanding their business and there is a requirement to get bigger volumes of work done in a quicker turnaround time, then wasting time is not wise. Automating manual and repetitive tasks like time tracking, etc. is better taken care of by a resource management software. Such a tool achieves this by tracking the status of projects, what resources are working on, timelines, and for how long they will be occupied. It also tracks the effort spent on each activity and project, calculating the utilization. It is also a cakewalk to gauge employee expenses with this tool. That’s not all! It also automatically sends out alerts regarding the due timesheets, other important timelines and automated notifications when tasks or activities are assigned or updated.
- Offers a centralized place to save organizational reports and data
A resource management software works as a centralized hub for you as it saves all organizational data regarding all the projects and resources in one central platform that could be accessed by any employee at any time and from any location. Such a tool also helps to identify any probable challenges early on. You can pull-out reports to check resource availability, utilization, productivity, and profitability as per different teams, resources, or on a daily, weekly, or monthly basis. Any date about expenses, billing, invoices, timesheets, or project status is tracked,making it very simple to keep a tab on all areas of operations. As all organizational data is saved in a centralized place, it becomes very easy to share information with anyone based in any other location or time zone.
- Monitor the progress of your projects in real-time
A workforce management tool allows you to monitor the project’s progress in real-time, giving an overall picture of the performance. With such a tool, you can assign tasks to employees, track projects, and update or move items just with a single click, all in real-time. The tool also enables automatically assigning tasks and approving timesheets, which helps keep everything on track and ensures meeting deadlines. You can also get instant notifications about the project and task progress, and availability and allocations of employees, which helps quickly address challenges that crop up.
- Effectively plan your resources
Resource management software enables project managers to manage all aspects of resource planning, scheduling, resource management, project management, and capacity planning. You can easily find how much work your existing team can handle and accomplish. Various reports, charts, and graphs depict the impact of resource allocation or workload on your business when it increases or decreases. In terms of project management, you can easily assign a resource to each task, track progress, schedule, and keep tabs on milestones. When allocating resources, the tool helps to automatically assign employees on various tasks as per their skill set, expertise, availability, and experience. This ensures that the right people are working on the right projects and tasks. It also helps to monitor which projects, activities, and resources are over-allocated or under-booked, enabling you to make quick decisions to do some reallocations.
- Make sure the right tasks are assigned to the best resources
With resource management software, your team members are able to work on projects or assignments as per their interests and key expertise. Such a tool helps to easily assign projects with an automated system and sends automatic alerts and notifications if some timeline is nearing or has passed. You can also automatically track the effort and time spent by each resource and team on each task and project, which helps to calculate the overall utilization and individual resource utilization and productivity as well. The timesheets help to show how much time people have spent on productive and non-productive activities with real-time updates.
Types of Resource Management Software
Many types of resource management tools are available these days. But there are some broad categories that are commonly used, which include:
- Expense and time-tracking: Monitoring the time spent by employees on various tasks and project and non-project activities becomes easy with this tool. Expenses can also be tracked quite easily with such a tool.
- Billing: This type of system helps to calculate the total number of hours a resource has worked and the payment that is due. It also helps to track invoices and expenses.
- Operations and project management: This type of tool tracks the project progress on each milestone right from start to finish, along with keeping a tab on all the resources utilized and deadlines met.
- Capacity planning: This tool determines the number of resources available at hand to achieve or complete a particular task or project.
- Resource scheduling and allocation: Such a tool especially helps to assign resources to various projects as per their availability and competencies.
Streamline Your Processes to Scale Your Business With eResource Scheduler
If you’re aiming to streamline your processes such as resource planning, management, project delivery, productivity and profitability tracking and management, consider the top-rated resource management software, eResource Scheduler. This cloud-based, user-friendly tool boasts an intuitive, feature-rich interface bringing brilliant features and competitive pricing. It not only outshines the competition in multi-project planning and implementation but also helps to design feasible schedules and fosters better communication and collaboration for distributed teams. Offering capabilities spanning resource and capacity planning, workload distribution, workflow scheduling, utilization tracking, and profitability analysis, this award-winning tool helps to simplify complex tasks.
By implementing this solution, you can raise your resource utilization between 18% to 30%. So, what are you waiting for? Gauge the benefits of this tool’s robust architecture by taking a free trial before you invest in it.