How much does enterprise management software cost? Is it worth it? What factors influence the price?
In this article
- How To Research And Assess The Cost Of Enterprise Project Management Software
- Characteristics Of The Best Enterprise Project Management Software
- Factors Driving Enterprise Project Management Software Costs
- Features Included In Enterprise Project Management Software
How To Research And Assess The Cost Of Enterprise Project Management Software
Enterprise project management (EPM) software is a popular technology that takes traditional project management and modernizes it. Organizations of all sizes use it to plan workflows.Using an EPM tool, your organization can track project progress across teams and project cost. Additionally, you can use project management software to improve team collaboration and engage in more effective resource planning.
Characteristics Of The Best Enterprise Project Management SoftwareFinding the right EPM software for your company can be a challenge, especially with so many options available on the market. However, top offerings usually include certain characteristics. For example, your organization is likely sitting on lots of enterprise data. EPM solutions centralize data across teams and workflows and improve visibility of your business’s productivity. A solid project management tool should have dashboards and other visualization tools so that you can leverage this data to improve efficiency. Many EPM solutions include a Gantt chart, which is a type of bar graph that enables you to visualize the progress of multiple projects. The software gathers data from your teams and displays activities, such as tasks and events, within a project schedule. Using Gantt charts, you can track your team’s progress and identify potential roadblocks to productivity. Additionally, EPM software also includes task management tools that enable you to assign different subtasks to project team members and cost management tools to help you ensure that project cost stays within budget. Finally, the best project management software is highly configurable and customizable. No two businesses are the same, and a one-size-fits-all approach to project management can hinder efficiency. By leveraging a solution that has easy-to-customize interfaces, you can establish workflows that position different teams for productivity success.
The Best Enterprise Project Management SoftwareWhen you begin your search for the right project management or project portfolio management tool, our advice is to start with the top vendors—they’re popular for a reason! Find our list of the best enterprise project management software below: Learn more about the tools that big enterprises use here.
Steps To Research And Assess Project Management Tool CostNow that you are aware of the top project management tools on the market, it’s time to learn how to choose the best option for your budget. The first step to finding the right solution is to make a list of possible contenders. Visit the website for each EPM provider on your list and look for a pricing page. On this page, you will likely see information about the following:
- Monthly fees or implementation costs
- Whether the provider charges a flat rate or a per-user fee
- Different tiers of the EPM solution
- The features that are included in each tier
Once you have assessed the cost and features of each enterprise project management software, bring this data to company stakeholders. Discuss the importance of project management and use your records to identify the best EPM solution for your business.
Factors Driving Enterprise Project Management Software CostsProject management is of the utmost importance to modern organizations, especially if you have multiple teams and complex projects. For many businesses, cost is the most important factor to consider when adopting EPM tools. Depending on the type of software you adopt, you may need to pay for training, implementation services, licensing, and more. Several considerations can influence the cost of enterprise project management software, and it is important to be aware of these driving factors.
Top Factors Driving The Adoption Of Project Management SoftwareAs businesses grow and increase project complexity, EPM tools are essential to maintain productivity. A business with multiple teams—especially remote ones—requires a sophisticated collaboration tool to keep their operations running smoothly. Many stakeholders are realizing the vast benefits of enterprise project management software. And many factors are driving the adoption of EPM tools among modern businesses. First, organizations want to break down information and collaboration barriers. When individual teams develop their own workflows, it can be difficult to share information. With a centralized EPM solution, all teams can access data on tasks and focus on high-value work instead of trying to track down information. Second, organizations want to standardize their project management practices. Without common workflows, it can be difficult to achieve efficiency, especially for large enterprises. With an agile project management system in place, you can achieve organizational harmony, boost agility, and stay relevant in your industry. Finally, businesses want to maximize engagement from all team members. Juggling multiple project portfolios can be challenging, especially with multiple tasks and subtasks. If project team members do not fully understand their objectives and the value they add to the initiative, misalignment can occur and affect the outcome. Using EPM solutions, businesses can ensure that all teams are engaged in and motivated to do the task at hand. All team members have access to the same information at the same time, improving collaboration and driving growth.
The Price Of Cloud-Hosted Solutions Versus On-Premises SolutionsDepending on your business’s needs and budget, you may want to choose a cloud-native software-as-a-service offering for your EPM tools. However, on-premises systems are older and more established, and your business may hesitate to migrate to the cloud. While both options are viable, there is a significant price difference between cloud-hosted and on-premises enterprise project management solutions. To implement on-premises software, you may need to pay for infrastructure like extra servers, which can cost thousands of dollars. You may also need to pay for very high licensing and support fees. Keep these considerations in mind while identifying the right EPM software for you.
Factors That Influence The Cost Of An Enterprise Project Management SystemThe price of project management software depends on several key factors, which are unique to your organization’s needs. For an accurate cost estimation, consider the following:
- Will you need to hire new personnel to implement, configure, and manage the EPM software?
- Would your business prefer to have an on-premises or a cloud-native solution?
- What types of task management features are you looking for, and which EPM solutions provide the tools you need?
- Do you need to provision additional infrastructure to support your EPM software?
- How many teams will use the solution? Will it be your entire organization?
- Do you prefer a solution that offers monthly billing, or are you looking for an annual plan?
Features Included In Enterprise Project Management SoftwareIn addition to selecting an EPM tool that fits your budget, it is also important to look at the software’s features. Different businesses require different functionalities, and you will need to select an option that meets your company’s needs. Many EPM solutions include the following features:
- Dashboards where employees can monitor their tasks
- Scheduling and task management tools
- Collaboration and communication tools
- Project templates that you can configure for your business needs
- Resource management solutions for efficient project planning
- Budgeting and other project cost management tools