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What is Resource Management Software and When Do You Need it?

January 31, 2024

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If your business depends on delivering projects on time and within budgets or completing internal projects on time and within budgets, you need full-fledged resource management software. A full-fledged resource management software is essential for enterprise resource planning.

What is not resource management software?
HR software that provides only recruitment, onboarding, and payroll functions is not resource management software. Many organizations use such software and use spreadsheets with data on resources to manage resources. They edit these spreadsheets according to various changes caused by their allocation to projects, recruitments, departures, and leaves taken. These changes are entered or recorded in some other applications or spreadsheets and need to be re-entered. The spreadsheets about resources need to be updated manually and end up with many versions.

What is resource management software?
Good resource management software provides a good foundation for building enterprise resource planning capability in your organization. The resource management software must have a resource master that details the task and skill capabilities of each resource in addition to other information about every resource in your organization. The resource master is a common repository used by various resource management functions.

A capable resource management software provides resource requests, allocations, and assignment functionality to your resource management group (RMG). Your RMG can generate resource forecasts for guiding your talent acquisition teams. The RMG can track resource utilization and do bench management. It uses resource calendars for these functions. Your RMG can also do skill and competence management using the resource management software.

Does your organization have resource management software as described above? If not, when do you need it?

When do you need resource management software?
The short answer: when you have employees in 100s or in 1000s.

The long answer:
If your project managers, RMG, and HR head spend considerable time and effort updating their spreadsheets, arguing over resource data, and in making changes in project planning caused by data uncertainties, you need to take urgent steps to deploy a good resource management software.

If attrition is a recurring subject of your management discussion, you seriously need resource management software because misallocation of tasks is one of the most common reasons for swelling the ranks of dissatisfied people in your organisation. Asking people to do tasks well below their capabilities prevents their development. Putting people in jobs that are currently beyond their competence undermines their confidence. Good resource management software provides tools to prevent such mismatches.

For other tell-tale signs that indicate that you urgently need a proper enterprise resource planning capability, please read this article.

ProductDossier Resource Management Software provides full enterprise resource planning capabilities. If your organization has 100s or 1000s of employees the above resource management software will be your first step towards integrating and automating your project business processes for faster and sure-footed decision making.

To know more or witness a demo of ProductDossier Resource Management Software, please write to us at [email protected]

ProductDossier

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ProductDossier - The makers of TouchBase PPM solution, that is configured specifically to the needs of your industry and organizational standards & processes. TouchBase is designed uniquely for external customer projects, new product development, and internal initiatives. TouchBase supports multiple project management approaches such as predictive, agile, and hybrid. TouchBase digitizes your project management landscape, offers holistic solution to your project management needs, and integrates with your existing enterprise applications such as ERPs, CRMs, Accounting, and others - to deliver one version of project management truth!

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