Project Management Software is a collection of tools that help in improving the efficiency of a production team.
| Company Name | Market Share |
| Oracle | 23% |
| Microsoft | 15% |
| CA Technologies | 10% |
| Planview | 6% |
| HP | 4% |
| Other | 42% |
1) Cost Management: Cost Management is the significant benefit which Project Management Software provides to its users. With increased investment in IT budget, companies are finding it difficult to manage the expenditure. The Project Management Software is one which accurately predicts the costs and also helps in mitigating the same. One can find accurate reporting options such as streamlining the schedule of production, aiding in cost projection, identifying the sources with excess cost.
2) Easy to use: The goal of Project Management Software is to make the process easier for its users. The solutions available in the market are easy to understand and boasts of a different design from the other.
3) Reporting: Cost Management is not possible without efficient reporting. A good Project Management Software has the ability to adjust with the report formats thus including only the data for specific milestones. This identifies proper KPIs in a project and identifies the positive and negative components.
4) Documents sharing: This is part of the real-time collaboration. The ability to share and work on documents with other members of the team also makes the long-distance collaboration simpler with this software.
5) Documentation made easier: The software also makes the documentation easier. Most of the projects can be used for re-analysis purposes for implementing in the future. The current teams for future projects can implement the solutions provided by the previous team.
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