COVID-19 has led to a steep rise in the number of remote working employees. In these challenging times, workforce motivation and customer satisfaction are a top priority. The same organizations are taking measures to keep their employees and customers satisfied.
However, achieving both requires crystal clear strategies and proper resource allocation. A KPMG study suggests that only 40% of organizations have a clear roadmap to approach this new phase. Also, 22% of employees leave jobs or are unsatisfied with them due to lack of growth opportunities.
A larger set of organizations are investing in a resource management software to keep up with employee and customer needs.
Resource management software comes with the latest set of technologies and helps organizations solve strategic and operational issues. It helps digitize the management tasks, reduce manual labor and time, and also tap new opportunities.
Let us have a look at how resource management software benefits organizations in the long run.
Introduction to Resource Management Software
Resource management software or resource scheduling software helps businesses keep a complete track of employees and their assignments. It analyzes the quality and performance of resources based on completed and existing assignments.
The software also helps organizations develop a clear project strategy and make resource predictions for future projects.
Moreover, enterprises can close talent gaps, allocate adequate resources, and prevent scheduling issues with a resource management software.
An ideal resource management solution helps businesses reduce administration costs, increase organizational efficiency, and plan future strategies.
Top Solutions provided by a Resource Management Software
Let us have a look at the top solutions provided by Resource Management Software.
#1. Resource Automation
Organizations require a system that can automatically and accurately update itself. Resource management software tracks the human supply and demand chain and provides valuable insights.
These insights help in identifying skill shortages and look after training requirements. Moreover, executing resource-based strategies lets organizations deliver projects on time.
#2. Reduced Administration Costs
The software eliminates the need for spreadsheet-based management systems. It also reduces manual errors and saves time. More importantly, it maximizes earning potential and increases customer relationships.
This is possible as resource management software greatly reduces administrative costs associated with out-dated systems. Moreover, with more time on hand, companies can work on onboarding more clients and providing better services.
#3. Conflict Resolution
Unresolved resource conflicts can lead to a loss in productivity and revenue. Resource management software prevents double booking of resources by providing real-time visibility.
It also helps predict future requirements well ahead of the schedule. This lets organizations allocate resources in an efficient manner and work on providing customer satisfaction.
#4. Resource Allocation
Resource management software lets organizations analyze how the resource pool is being utilized. The analysis can be done on a daily, weekly, quarterly, or yearly basis.
By analyzing this data, managers can plan resource utilization and the ideal time to be spent on activities.
Thus, it leads to a reduction in operation costs and an increase in profits.
#5. Resource Tracking
Keeping a track of payroll, labor cost, and timesheets is a time-consuming process. The software systematically records information and enables managers to analyze the data.
Some software also have integrated accounting features that automate payroll procedures. Thus, implementing resource management software ensures that all human costs are taken into account, and the systems work at their topmost efficiency.
#6. Resource Forecasting
A resource management software generates reports on resource pool’s availability, existing capacity, and utilization. Analyzing these reports can help organizations gauge if the present resources have enough bandwidth or new resources should be hired.
How is a Resource Management Software helpful?
Let us have a look at the benefits provided by a resource management software.
1. Higher Visibility
A resource management software determines if there is sufficient bandwidth or not and also keeps a check on whether the resources are under/overworked. The software gives a clear picture of how resources are positioned across the enterprise. This helps analyze the progress against timelines and ensures that all projects are on track.
2. Right Use of Skills
A resource management software helps managers pick out passive/benched skills. Managers can then choose to reskill or upskill existing resources. Reskilling involves identifying obsolete skills and using the existing resources and retraining them to use their talent.
Whereas, upskilling involves identifying talented employees and developing them into leaders. The data generated plays a key role in deciding future job roles and skill relevance.
3. Optimal bookings
Gantt charts provided by resource management software lets the users drop suboptimal bookings without compromising on available resources. These bookings allow the users to allocate work as per the schedule of employees.
Moreover, Gantt charts flag projects that are experiencing overbookings, skill clashes, and resource crunches. The software blocks training times in the project calendar to prevent allotting excessive work to the staff.
4. Reduced Labor Costs
Freelancers and part-timers help organizations achieve targets without overburdening existing employees and hiring new ones. Resource planning software looks after the contract workers and assigns work accordingly.
Assigning tasks with resource management software helps in the proper utilization of existing resources and hence reduces costs.
5. Quality delivery
The right talent and time management can help organizations fulfill tight deadlines. A resource management software lets a manager spot troubled projects and accordingly release or reshuffle resources. This helps in the timely delivery of scheduled projects while ensuring top-notch quality.
Features of a Resource Management Software
Here is a list of features provided by a resource management software which make it a must.
Efficient Scheduling
Scheduling charts in resource management software or resource scheduling software provide accurate information to the team. They help project managers and resource coordinators manage tasks easily and plan further scheduling. The software also comes with drag and drop scheduling, filters, and availability figures, which support task efficiency.
Intuitive Dashboard
The dashboard of a resource management software presents important numbers and data in easy to understand format and graphs. It also provides widgets that can be configured in different units and ranges. Most importantly, the dashboard provides a summary view of resource count, capacity, utilization, project count, and availability of resources.
Centralized Pool
A resource pool is a set of resources available for assignment and project tasks. A resource management software compiles the list of available resources in a single place. This helps project managers allocate tasks and achieve optimum resource utilization.
Management Reports – Utilization & Availability
Easy configuration of reports helps in a better understanding of data. Resource management software allows color-coding that makes it easy to identify over/underutilized resources.
These reports allow easy utilization and availability of resources at all levels. Another popular feature is configurable graphs. They help and speed up the management in the decision making process.
User Access Rights – Confidentiality & Compliance
Resource management software allows organizations to define precise levels of access for each user. Advance access rules allow companies to segregate data as per the structure and maintain complete data confidentiality while ensuring compliance rules.
Flexible Payments
Resource Management Software provides flexible payment options. Organizations and individuals have the option to try out a free version or make monthly or yearly payments. Moreover, users also have the option to upgrade/ downgrade their plans anytime.
Gantt Charts
Gantt charts in a resource scheduling software display a list of all activities against their time frame. Managers can have a quick look at the schedule of each activity, task overlaps, start and end of activities, list of activities, and the start and end of the whole project.
With a resource management software organizations can leverage the existing resources and say goodbye to obsolete ways of resource management. The software provides all-round solutions for project needs and ensures high-quality and timely deliveries.
Did we miss out on any aspect? Let us know in the comments section below!
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