An organisation is able to operate effectively only if it knows the skill of managing their resources in a proper manner. In this age of competition, resource management software is turning out to be an essential tool that an organisation uses to manage their different resources.  A well-planned resource plan can help a company to complete their task within a deadline and thereby minimise wastage of resource. Software might assist an organisation to take a control over their resource planning. There are some companies who use software like a spreadsheet for their financial purposes or to keep a track on the performance of their employees.

Types of resource management software

A number of companies are able to create their personal software but a lot more firms opt for a COTS solution. The SaaS software has been widely used and one of the possible reasons for its popularity include less maintenance as well as for lower upfront costs.  Some of the resource management software includes the following:

  • Accelo
  • Wrike
  • Opp Hound
  • Forecast
  • Harmony PSA
  • Ganttic
  • Deltek vision

The above-mentioned software is gaining popularity over the last two decades. This software is making it easy for the managers to manage their projects, clients as well as employees in an effective as well and proficient manner. However, a huge amount of capital is required for installing such software. It is quite difficult for small companies to install such software. This is the reason why medium or small-sized companies are trying to make use of homegrown options like spreadsheets.  In many cases, it has been found that most of the organisations have been able to meet their business objectives with the help of this software.

Use of resource management software in organisations

Some companies often use reporting tools for keeping a track on their capital allocation. There are times when a company has to handle a large number of projects at a time and probably project management software is an all stop solution for such issues.  Installation of software requires large-scale capital along with skilled workforce. One of the disadvantages of using resource management software is that proper training is required otherwise it will bring disastrous consequences. Although such software might enable a company to earn the profit and meet their deadlines but it poses a lot more challenges. If employees make use of software without proper knowledge and in such case a company has to bear the loss. So it is always recommended to conduct a proper training before installing any kind of technology.  It might help a company to foster growth.

Therefore it can be concluded that resource management software is able to increase the credibility of any organisation. But before installation of such software a company has to ensure whether they have got the proper equipments, skilled workforce and adequate capital for its installation. After installation, it must require proper operation and for operating the software in a proper manner, training can be conducted. Installation of management software is definitely going to help an organisation to rise up the ladder of success.

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