The customer relationship management (CRM) enables small business owners to meet the operational challenges, including lower sales, higher customer attrition, and the gap between corporate revenue objectives and policies of the Commission Business. If you are a small business owner, there are several ways a customer tracking tool can positively affect your bottom line; See our top five.
1. Customer Management
You can use a CRM tool to get more visibility in your customer base, reflect on the tactics needed for long-term profitability, and make better plans that drive your staff to innovate operational. For example, if the software reveals that 80 percent of your customers are in the pharmaceutical sector, you might hire more salespeople with medical or pharmacological training, or implement a training program to raise awareness of the pharmaceutical industry of your sales staff.
2. Monitoring Profitability
This tool can also ease the work of your accountants. They no longer have to worry about tracking every cent of sales and focusing on shipping costs, discounts on products and client returns. The software can give a small business a system of accounting and most accurate rapid financial information, which are important processes in the enterprise value chain. When corporate strategists speak of "value chain", they refer to the collection of tasks and tools that allow a company to increase sales, deliver effective operations and positive results after the end of year.
Related: Using Predictive Analytics to improve your customer relationship management
3. Regulatory Compliance
An effective customer strategy allows small business owners to automate certain business processes that were previously manual. This is a winning approach in the long term, especially when it helps you comply with federal and state laws and industry standards. For example, you may not need to hire a compliance analyst team to conduct regulatory audits if you apply the correct settings a CRM tool. You can ask the tool to mark a high risk client or generate relevant documents based on the client's risk score.
4. Sales Strategy
As a small business owner, the last thing you want is to lose revenue by targeting the wrong customer segment, an indication for a weakening of margins on the road. Customer administration programs can provide valuable information on long-term sales trends, helping you to adjust the strategy and tactics of the sales results to existing businesses. For example, an analysis of five years of sales data of your company concierge services shows that revenues from auto manufacturers is declining, while revenue from the higher education sector is on the rise. Based on these results, you can decide to target universities and colleges more aggressively and gradually pull in the automotive sector.
Improved customer service 5.
CRM can improve service practices to customers of a company, helping employees meet customer requests quickly and efficiently. For example, an entrepreneur can track customer complaints and see where and why the company is not working well. The software can also provide information about customer orders trends, ensuring that staff never spoil any order issues in the future.
Customer management applications can give a small operational superiority of the company in key areas. This tool enables your organization to understand what it takes to build an awareness policy effective customer and boost sales. Before selecting a customer monitoring program, make sure it fits the operational processes of your company, industry, revenue cycle, and customers.
The management CRM Customer relations managers / Models
A wide range of models Relationship Management CRM overall guest were developed. The author introduces five of them in this chapter.
1 THE IDIC Model
CIDI is described as below (Figure 6)
Figure 6: The methodology IDIC (Peppers and Rogers, 2004)
CIDI model was developed by Peppers and Rogers (2004) According to the CIDI model, companies should take four measures to build stronger relationships one-to-one with clients:
• identify who the clients are companies and the construction of a deep understanding of them.
• Differentiate their customers to identify who among them are more valuable today and that offer more for the future. Also, the differentiation may allow companies to design and implement specific strategies designed to meet customer needs of different customer individually. Customers represent different levels of value for the company and they themselves are fundamentally not the same enterprise. According Peppers and Rogers (2004), customer differentiation of the task involve a company in the categorization of its customers through both their value to the company and what their needs are.
• Interact with them to ensure that companies understand customer expectations and their relationships with other suppliers or brands. Thus, companies must improve the effectiveness of their customer interactions. Each successive customer interaction should take place in the context of all previous interactions with that customer. A conversation with a client should pick up where the last left off. Efficient customer interactions offer greater insight into customer needs.
• Customization of supply and communication to ensure that customer expectations are met. Indeed, the company must adapt certain aspects of his behavior towards a client, depending on the needs and the value of that individual. To involve a client in a relationship, a business must adapt their behavior to meet the needs of the customer. This could involve "mass customization of a product or adapt certain aspects of his service" (Peppers, Rogers and Dorf, 1999).
2 The model of quality competitiveness index (QCI)
QCI are independent specialists that help chip companies in customer management. They are both strategic theorist and leading practitioners (Hewson et al, 2002). The model shown below QCI is described as below.
Figure 7: The QCI model customer management (and all Hewson, 2002)
The above is described as a customer management model, thus omitting the word "relationship." In the center of the model, they highlight a series of activities which companies conduct with a view to acquire and retain customers. This model also has people running processes and using technology to assist in these activities.
3 CRM Customer Relationship Management Value Chain Model
The CRM value chain (Fig. 7) is a model that companies can follow when developing their CRM strategies (Buttle, 2004). This model was developed by a range of SMEs such as IT, software, telecommunications, financial services, retail, media, manufacturing and construction. This model is built from solid theoretical principles and practical demands of the business.
Figure 8: The CRM Value Chain (Buttle, 2000)
The main purpose of this model is, in Buttle (2004), to ensure that the company is building long-term mutually benefical relationships with strategically important customers. Thus, some customers are simply expensive to acquire and service.
Buttle has identified four types of strategically important customers (SSC), such as the customer high value-time of life which is a key SSC and now all margins that may be earned in a relationship. He said tempting as it may seem, all customers have high volume high LTV. If they require JIT personalized delivery, or other costly ways to serve, their values can be significantly reduced. We know of a company that applied cost disciplines to trace process costs to its customers based on activities [...] resulted in the company redesigned its manufacturing and logistics processes, and sellers negotiated increases price
The second group of SSC is in the author's "benchmarks" above that are customers other than copy. For example, an equipment manufacturer distributors of the machine is ready to do business with a company because "they can tell others they provide to customers the largest sales operation in the world" (Buttle, 2000 ).
The third group of SSC are inspirations' customers. They are those who are finding new applications, "come up with new product ideas, find ways to improve quality or reduce costs. Perhaps the most demanding customers, or who complain of frequent and if their own LTV low potential, they offer other important sources of value. "
The fourth agreement with what Buttle (2004) calls "magnet costs" related to those that absorb an unusually high volume of fixed costs, allowing other, smaller customers to become profitable
John Stevenson (2007), says that the CVC includes four steps:
- The first stage deals with the customer to determine which combination of the most profitable customers. The result is companies should seek their target customers. They should assess and segment their customers into groups that are most desirable to do business with them meet its criteria of what a customer is desirable. This is called, according to Stevenson (2007), analysis of the customer portfolio.
- The second step concerns the privacy of the customers. Having found the business segments want to continue, they need to get to know those of this segment very well and better than their competitors know them. In short, they want to show that they know them intimately, for example, knowing their birthday, the number of children they have and their respective anniversary.
- The third stage concerns the definition value proposition. So you understand as much as possible on the customers they have chosen to serve, companies are then able to create a specific value proposition tailored for them.
Buttle (2000) had raised five steps to profitable relationships that are, in the analysis of the customer portfolio (CPA), customer intimacy, network development, the development of the value proposition and relationship management.
Very briefly, analyzes the CPA, according Buttle (2000), the customer base to identify customers to target with different value propositions. The privacy of clients now involves getting to know the customers selected as segments or individuals and building a customer database that is accessible to all those whose decisions or activities impact on attitude and behavior of customers. Buttle involves network development as the third step in which a solid network of relationships to be built with employees, suppliers, partners and investors who understand the requirements of selected clients.
The fourth step is to develop, with the compliance of the network, proposals which make the value together with the customer and the company. At this stage, to date, the network must work together to create and deliver the chosen value (s) to selected customers, great value is "more effective solutions and better found customer issues" (Buttle, 2000). The final step is to manage the customer relationship.
However, the activities or the above steps should be managed. Companies need to manage each customer through their life cycle. To enable management of customer life cycle and stages of portfolio analysis, privacy, and the development of the value proposition, automated data systems are needed.
4 Five Forces model of La Payne
This is a global model developed by Adrian Payne 'The model identifies five fundamental processes in Customer Relationship Management CRM as strategy development process, the value creation process, the multichannel integration process, the evaluation process performance and information management processes. They can be grouped into strategic CRM, operational CRM and Customer Relationship Management CRM analytics.
Figure 9: The strategic CRM model (Payne, 2006).
Payne (2006) also presented a strategic framework / model (Figure 8) for Customer Relationship Management CRM consists of five generic processes such as strategic development, value creation, Multichannel integration, information management, and evaluation performance.
The strategy development process is the integration of the company's strategy from the perspective of the organization and customer strategy as to how to interact cabinet and choose their clients. The process of creating value with the main objective to identify the company can create value for the customer and the value of the organization can also benefit. The multichannel integration consists of all virtual and physical channels with which the company plans to interact with. But the main thing here is that, whatever the contact channel, the goal is to create an experience that is as uniform and common.
The information management process consists of a number of different computer data storage systems, back and front office applications and analytical tools. It is therefore necessary to access the visibility of the system so that the need for performance evaluation process set in and it is my concern strategic surveillance can be used to determine customer satisfaction and standards,
. Various authors have proposed framework of CRM customer relationship management strategy. Buttle (2001) provides a value chain Relationship Management CRM customer that identifies a series of "primary" highlighted the steps above. These are useful because it takes into account the implementation issues. Sue and Morin (2001) to develop a framework based on CRM initiatives, expected results and contribution. However, this framework is not based on processes and, as acknowledged by the authors, many initiatives are not explicitly identified in the framework. Winer (2001) describes a model which contains: a database of customer activity; analyzing the database; decisions to target customers; tools for customer targeting; how to build relationships with targeted customers; Privacy issues and metrics to measure the success of the program Management CRM Customer Relationship. All these frameworks provide some useful indications; However Frow and Payne (2005) argue that none seem to adopt a conceptual focus on the explicit cross-functional processes; they used a group of executives with extensive experience experts in CRM and IT sectors to identify specific cross-functional process. Thus, the two authors identify five CRM processes, including: the strategic development; value creation; multi-channel integration; information management; and performance evaluation (Fig. 7).
5 Dasai et al / Conceptual Model
The framework was developed by Dasai el al (2007) in which the examination is driven to the competitive CRM performance of internal and external perspectives. The dynamic capacity of CRM is the key source of competitive CRM performance given the rapid evolution of today's business environment, which erodes the value of existing skills (below) figure.8
Figure 10: Conceptual Model (Desai et al, 2007)
Figure 8 above includes re-configurability resources, social networking capacity and market orientation that the dynamic capability of pilot CRM. Although IT variables that CRM technology and knowledge management are Moderators linking between dynamic capability and competitive CRM CRM performance. As such, the direct impact of varying IT skills must be judged and seen on the competitive CRM performance.
6 The Forrester Model
Forrester CRM model is grouped into four types, such as: Strategy; Process technology; and people. The model produces results in the conclusions hundreds of companies using CRM as a strategic, in-depth analysis of more number of solution providers and suppliers also with the discussion with about many consultants. For companies who wish to launch their CRM programs or for those who find it difficult to get the best from their CRM programs after it was launched. In addition, performance dashboard (Figure 9) shows the criteria used by companies to measure the overall performance using CRM.
Figure 11: Model CRM Forrester (Forrester Research, 2008)
The author notes that the above dashboard resembles that produced by Gartner Group (WDI, 2002). Nevertheless, some criteria were used. Thus, it must be adapted to affirm CRM dashboard performance of Forrester is an improvement from that of Gartner. Table 1 provides Gartner dashboard of performance.
Gartner CRM Maturity Model is a tool in which the group used in the rating of companies in terms of their ability to effectively use CRM. To determine the category in which a company is placed on the model, they are first evaluated in terms of overall CRM vision and strategy, experience a consistent customer value, organizational collaboration, process, information, technology, metrics.
All these elements were what made the score card performance measurement of Garner was discoursed earlier, but the difference is that, haven marked your performance on the basis of the elements, the maturity model will then enable the company to know where they are right now and where they want to be over a period of time, that the duty they need to achieve this status. It is a very useful tool that every company that aims to satisfy their customers and also maintain a lead in its industry, should make use of perhaps all defined intervals. Table 2 shows what the model looks like.
Table 2: Gartner CRM Maturity Model for the company (Gartner Group, 2001)
Frames discussed above, it has been observed by the investigator that there are similarities that cut through them. Forrester Research use as a reference and were bonded by placing frames Dasai Payne et al and on both sides of the frame Forrester of each component in the frame together, indicating that they all have the same in all four component elements of Forrester frame.
Dasai framework
Forrester Framework
Payne framework
Strategy
Process
Technology
People
Customer focus
Focus Organization
CRM dynamic capability
CRM Technology
knowledge management
Industry Control
Strategy Development
Value creation
Multi-channel integration
Information management
Performance evaluation
Figure 13: Summary of Different managers (by the author)
Figure 13 above shows that each of these frames contains. Looking at the strategy, it focuses on the customers and the organization of a side; and strategic development and value creation on the other side. A successful business must understand how the customer can be turned into an advantage through the delivery of a value proposition. According Close et al (2001), it provides objectives, segments and customers, and it should define how resources will be used interactions.
Respectively the organization, this implies a change of culture, structures and behaviors to ensure that staff, partners, and suppliers work together to deliver what is promised. However, the researcher will consider the scope of the Forrester as a basis for the continuation of our research.
By Heather Catalano Last updated February 20, 2015
Part 3 of our Small Business Tools Series tackles the best project management software. Previously we covered Best Cloud Storage Providers and Best Email Marketing Services; now we enter the realm of project management.
There are many project software providers out there these days. While it speaks to the necessity of project management, it also can be difficult to find which one is the best fit for you and your business.
Project management software is a vital tool that affords visibility to project timelines, goals, and expenses while effectively utilizing resources and allowing collaboration between all parties involved.
Even if you’re tackling a project by yourself, you need a way to effectively see, plan, and change each step of your process. If you are working with many collaborators, project management software becomes even more vital to have in your toolkit.
The Simple Dollar’s Top Picks
Here are the top three project management software picks:
LiquidPlanner
Project Insight
Smartsheet
This section includes project management software that requires a paid subscription fee beyond any free trials. They should be reserved for multi-department collaboration due to the increased level of functionality. If you’re a startup with a small staff and a need for low overhead costs, check out The Simple Dollar’s top free picks farther down in this post.
LiquidPlanner
LiquidPlanner is one of the most comprehensive and interesting project management software tools available today. They offer a 30-day free trial followed by a monthly subscription starting at $29 per user.
This real-time tool uses a totally unique scheduling mechanism that automatically updates across the board when priorities shift, you schedule a vacation, or have limited availability. Priority shifting is inevitable and the auto-rearranging will not only save you time but will give you visibility to realistic outcomes that can be shared with your boss, and, more importantly, your boss’s boss.
With this scheduling, all of your resources (people) are taken into consideration and mapped out to allocate the appropriate skills to the right places at the right time, ensuring they are not overbooked on multiple projects as deadlines are rearranged.
Also, you can custom-build your reporting tools and dashboards and access projects and overviews while on the move with the iPhone or Android applications.
The only real downside to this provider is the lack of financial management tools at the price you pay for their services. With that being said, authorized users can export timesheets to XML, CSV, or QuickBooks for invoicing and payroll purposes.
Project Insight
Project Insight is the leading mid-market (1 to 1,000 users) Web-based project management software on the market today. Its software was developed by Metafuse, a gold partner of Microsoft, and therefore is ideal for businesses utilizing MS Office due to its incredible integration with Outlook.
Project Insight can be integrated with any enterprise system from a range of renowned ERPs, CRMs, and account solutions all the way to home-grown systems. It is a highly customizable jack of all trades.
Offering a little bit of everything keeps them at the top of the pack for organizations that need to focus simultaneously on large-scale production, budgeting, and resource management. They have an intuitive user interface and free bimonthly live webinars to keep your team up to speed on any new features and revisit those that may not be used to their full potential just yet.
They have a few different pricing structures, including our favorite: the free trial. They also have a one-time license purchasing option or a subscription fee. Due to their highly customizable nature, you’ll need to contact them to determine the pricing based on your needs. Call (949) 476-6499 for a free quote.
Smartsheet
Smartsheet is a dream for every person who’s ever used Excel as a project management tool. Their layouts are extremely similar, and therefore familiar and user-friendly — but Smartsheet comes with unmatched functionality within the rows and columns.
You can add documents, make comments, share, and collaborate with an unlimited amount of users, integrate a Gantt chart (discussed later in this post), and easily customize the layout of your sheet. They offer a 30-day free trial followed by a $14/month (when paid annually) subscription fee for their basic package.
While spreadsheets are something most of us in business are familiar with, Smartsheet offers a great video training list and the occasional live webinar. As you probably know, there is always additional functionality within the toolset that could drastically increase efficiency, so if you move forward with Smartsheet, make sure you encourage your staff to attend these trainings.
Creating a new project is as simple as clicking a plus symbol when logged into Smartsheet. You can use one of their many pre-established templates or create one from scratch if your project is rather unique. You can also create workspaces that allow a clean, open sharing space of all the sheets with an established group, like a particular department or project implementation team.
If you work with external partners, clients, consultants, mentors, etc., who are not members of Smartsheet, no problem! You can publish any sheet as either read-only or interactive, and either provide them with a link or embed it into your website so it can be manipulated without the need to subscribe to the service.
The Simple Dollar’s Top Free Picks
Here are the top three free project management software picks:
Xtrant
EasyProjects
Trello
This section includes project management software that, to date, always provide a free level of service. Keep in mind that you want to pick a provider based not only on your needs today, but what you’ll need in the future. Be sure to revisit your organization’s immediate and long-term goals prior to making a decision on the project management tool you’ll move forward with.
Xtrant
Xtrant is an extremely easy-to-use project platform. They are a smaller startup out of Memphis, Tennessee, who found themselves with a table full of projects, a need to collaborate both internally and with their clients, and found a solution in building a software layer to accomplish this rather than hiring account representatives to function as the middlemen.
Using Xtrant is as simple as this:
Create the project, including a brief description, due date, etc.
Add the people who’ll be involved and give them the appropriate rights (Contributor, Participant, or Viewer).
Add your “Milestones.” These can be deadlines, tasks, or goals that can be dated or undated. Those that are not dated can easily be moved up and down on your milestone list, giving you additional flexibility.
Upload any necessary documentation or create new documents. You can create these as “living documents” for things like brainstorm pages that can be kept as a running total of ideas from all contributors.
Publish!
With a similar layout to Facebook (although it was originally developed prior to Facebook), it’s incredibly easy for users. People added to the project who don’t already have an account will be sent an email to sign up for free, and not just for a free-trial period.
With the free account, you can still collaborate with an unlimited amount of users. The only downsides are that you can only have three current projects and are limited to 250MB of file storage.
If you find that you need more storage, you can choose to upgrade to a paid package. Paid packages include unlimited storage and projects. The pricing is based on the number of internal users, i.e., those who will be creating projects, starting at $19/month for just you, $49/month for up to five users, and so on.
There is additional functionality, including the ability to share classified content, such as contracts, pricing sheets, etc., with specified project team members. As a startup, Xtrant is heavily invested in addressing any system limitations head-on to better serve their ever-growing customer base, including the soon-to-be-released mobile application that entered beta testing last month.
EasyProjects
EasyProjects is the best free service you can get for client collaboration. They offer a guest portal that your clients can use free of charge to add additional projects, documents, and comments. As the administrator, you can assign team members to specific clients in the portal to create a better experience for everyone involved.
Their generous free plan offers 1GB of storage, an unlimited number of guest users, and up to 10 portfolios with up to 20 custom fields such as date, number, and text. This is ideal for a client-facing startup with a minimal to nonexistent project-management budget.
If you find yourself needing more as your company grows, they have paid subscriptions that you can easily upgrade to starting at $15.75 per user per month (if paid annually).
They use “portfolios” as an umbrella over projects in order to better manage available, and often limited, resources, while still ensuring the overall goals are accomplished. A portfolio manager can be assigned with access to manipulate any of the aligned tasks, projects, deadlines, or customizable fields.
EasyProjects is also integrated with Microsoft Outlook, which eliminates a need to bounce back and forth between email and your project management site. They have a powerful dashboard that maps out things like an overview of portfolio statuses, resource allocation, and recent activity so you can make educated decisions from a top-down perspective.
Trello
Trello is an awesomely simple project management tool that’s always free unless you need more storage, at which point you can upgrade to the “Gold” version. Gold includes an increase from the 10MB free storage all the way up to 250MB for as little as $5 per month or $45 per year. Their platform is visually stimulating and appeals to those who need exposure to their accomplishments (like myself).
I’ll be honest, this one made the list because I use it. I use it all the time. And I love it.
Trello has helped me plan fundraising events, collaborate on new business ventures, buy my first home, and keep my home clean (yes, this is incorporated into my project management tool — insert shame here). If only had it been around when I got married!
Within each “board” or task, you can add a list of activities, documents, interactive checklists that show a progress bar, unlimited collaborators, and due dates. You or your collaborators can subscribe to boards and will get an automatic notification 24 hours before the task is due.
Everything can be color coded — again, a great visual organizational feature for you and your team. All your content can be dragged and dropped easily throughout your screen so you can add or move activities between boards and prioritize tasks at hand.
Trello is available in iOS and Android so you can stay apprised of all projects wherever you are. If you need budgeting or time management tools, Trello might not be the best project management software for you, though. On the other hand, if you need something that’s user-friendly and want your team to participate with minimal pushback, Trello should be a great fit.
Project Management Software Considerations
Outside of the functionality of specific project management software, there are various other components you should take into consideration to ensure you’re making the best decision prior to implementation.
Cloud-Based vs. Desktop
There are advantages and disadvantages to both of these types of software. While desktop typically offers the most control over cost by enabling the purchase of individual licenses for each computer, it also requires installation and limits the ease of adding additional users as projects continue to grow.
Cloud-based solutions allow increased flexibility for remote and mobile employees. It eliminates the risk of not being able to access the software in the event of a virus infiltration, as you can log on directly from a website on any device.
Integration
Explore the integration capacity and compatibility of the software before moving forward. Systems like Project Insight boast the ability to integrate with any enterprise system.
Think about what mobile devices and operating systems you and your employees currently use. What platform are you using for your email, calendar, and document storage? Can it easily be transitioned or linked to your project management software?
There are times that a specific product, service, or platform has been such a critical part of your success that it should significantly impact your integrated software solutions. If your current platforms function pretty independently, you should then focus on what solution will work best for your workflow.
Usability and Workflow
Many project management software systems offer a plethora of tools at your fingertips, but how helpful are these to you? Make sure you request a demo and explore the many features prior to purchasing any software.
The platform and interface should be easily comprehensible and the processes clear and concise. More so, ensure the functionality will seamlessly translate to your projects’ workflow patterns. Not all project management software systems are a perfect fit for all projects.
Traditional Project Management Tools
In a previous life, I consulted on the implementation of large business solutions for many organizations ranging from startups to Fortune 500 clients.
Depending on the size of the organization, we would have an initial call with one or two people on the line or a steering committee meeting with dozens of stakeholders throughout the organization. After, we would wait for the meeting notes, links to the established project, or login information to the project management software.
It blew my mind when I would log in to my email the next day and find a standalone RACI matrix (explained below) attached to an email. Not a shared document that could be updated by all parties or a link to a managed project, but a static document that would ultimately be updated by a hundred hands, sent back to the owner multiple times by each and every contributor, and a hope that we would have a comprehensive, updated document by the next meeting two weeks later.
What a waste of time and energy.
Traditional methods like Gantt charts and the RACI matrix do have their place. They are revolutionary tools that have addressed many gaps in project management, and I’ll explain each below. Many of the software tools you will be exploring have Gantt capabilities or allow you to easily share a RACI chart in your collaborative group documents.
But please, please know that the field of project management continues to expand, and all of the software solutions we have discussed here today can exponentially help you stay organized, utilize the right resources at the right time, increase collaboration, and streamline work processes.
Gantt Chart
The Gantt chart was developed by a mechanical engineer and management consultant named Henry Gantt over 100 years ago. It is a project scheduling tool that is still widely used today, including in many top project management software solutions like Project Insight and Smartsheet.
It’s essentially a combination of a horizontal bar chart and a calendar. Activities for the project are typically listed down the lefthand side of the chart and bars are mapped out depending on the length of time each task will take to accomplish.
Modern Gantt charts can have much more functionality, such as task relation, completion progression, aligned resources, and involved parties. Some argue that Gantt is now an outdated form of project management, but its huge presence in project management software begs to differ.
Responsibility Assignment Matrix
A responsibility assignment matrix, often referred to as RACI, has less emphasis on process flow and more on designating responsibility and accountability. These are two of the biggest challenges with any team-focused project.
Let’s first breakdown what RACI stands for:
Responsible: These are the “doers.” They make the decisions and complete all of the tasks associated with the specific portion of the project. Those responsible can be a team of people or an individual.
Accountable: This person takes ownership of the item. Typically, this will fall into the lap of a manager or lead within the responsible department.
Consulted: These are active participants. They provide input along the way and are often subject matter experts within the fields that will be involved in the final product.
Informed: These are the stakeholders who need to be “kept in the loop” on the process or completion of the project.
In a very brief example, let’s say you want to develop a policy around Paid Time Off (PTO) for your employees. Your VP of HR may be the one Accountable; the HR specialist team is Responsible for researching, writing, and communicating said policy; the leadership team, HR benefits coordinator, and legal department are Consulted on the project; and the CEO is Informed and kept in the loop of progress and, eventually, completion.
A shared RACI document removes the need to be copied in on countless email chains and allows visibility to who exactly is accountable for each specific step of the project. Someone will need to be accountable for the matrix itself, but can easily consult others on specific areas of expertise.
Industry-Specific Project Management Software
Due to the varying unique workflows within different industries, it is critical that you explore the best project management software for you and your specific business. While the majority’s needs are met by general project management tools, there are also many that are specific to the needs in industries such as construction or engineering.
For example, the construction industry often involves an influx of contractors, tangible goods, and hourly billing. The project management software realm has branched out to hone in on the specific needs of this industry with increased planning, scheduling, and cost management tools.
Currently, construction accounts for only 10% of the global GDP; however, it uses almost half of the world’s resources, energy supply, and raw materials, leaving a huge gap for potential savings in time, resources, and money by the use of project management software.
Methodology
My methodology was a little different for this segment of the best business tools. I started with my personal experience, having worked through dozens of different organizations’ project management tools, then moved to personal interviews.
After hearing quite a bit about what has not worked well in the past, I turned to my typical research methods. I read through hundreds of reviews and product comparisons and scoured the providers’ websites themselves.
I had worked with many of the more well-known project management software providers, as well as a few smaller and company-built solutions first-hand. For those that I had only heard of or read about in research, I created accounts and created a mock project to see firsthand how well one, or many, could easily set up, collaborate, monitor, and ultimately complete a project. A special thanks to my husband for his collaborative, investigative efforts!
I found project management more unique than Email Marketing Services and Cloud Storage Providers, as the ultimate goal and functionality of the two are rather limited in comparison. Project management can accomplish its goals in such vastly different ways, whether it be through sheets, boards, lists, etc. From my research, I picked the best of the best while still providing variety to the many different methods available.
Conclusion
Get rid of your tracking spreadsheets and group emails and start using resources that are readily available, like project management software, to grow your business.
If it’s not in your budget just yet, and your team is still small, then opt for a free service for the time being. If you have long-term projects, make sure you’re choosing a free service that could be expanded into the necessary functionality that your organization will need so you don’t run the risk of transferring projects to a new provider, or worse, using two platforms at once.
Explore your options. Read firsthand reviews. Write me if you have any questions and, if I don’t have the answer just yet, I will find it for you. Test out a provider or two and see which one naturally works for you, and make sure that one has everything you need. Understand you have options. Choose the best for you.
