21 Aug

A Better Way to Find Market Leaders in Project Management Software

Project management software is one of the most widely used business tools, but receives little industry attention compared to fields such as business intelligence or even gamification. This is despite the fact that PM tools are crucial to executing a project of any real scope, especially when working with remote employees, or overseeing multiple ventures. PM software also spans multiple industries, some of the largest being construction and engineering, software development, enterprise, and marketing. However, despite general confusion about the market leading companies in each of these fields, there’s little help for interested buyers, who want a quick way to orient themselves to the field.

Since TechnologyAdvice specializes in helping businesses find software, we decided to fix this problem. First, we identified the most important features for four of PMs largest markets (you can see the specific features below), and ranked our database of over 100 companies against these feature sets. We then took the companies that supported these features (and had strong market presences), and plotted them on the Decision Diamond. Clicking any company allows you to see user reviews, pricing information, and more. Take a look at this screenshot below:

PMDecisionTree

Click Image Above

 

Here are the feature sets for each industry:

 Construction

  • Issue tracking system (change orders)
  • Project portfolio management
  • Document Management
  • Customizable workflow system
  • Reporting & analysis
  • Web-based
  • SaaS deployment model

 Marketing

  • Collaborative software functions
  • Issue tracking system
  • Scheduling
  • Project portfolio management
  • Document management
  • Time tracking for tasks
  • Web-based
  • SaaS deployment model

Software Development

  • Collaborative software functions
  • Issue tracking system (bug tracking)
  • Scheduling
  • Customizable workflow system
  • Web-based access
  • SaaS deployment model

Enterprise

  • Collaborative software functions
  • Issue tracking system
  • Project portfolio management
  • Resource management
  • Reporting & analysis
  • On-premise hosting capabilities
  • SaaS deployment capabilities

This gives potential buyers a better understanding of the current market leaders in some of the main PM industries, and the features they should look for in a solution.

Previously, companies interested in project management would need to first identify the features they might need in a PM solution. While most companies have a pretty good idea of what they require, it’s easy to miss something important, or get confused by the different terms vendors use for the same functions. Then, after identify these features, companies would have to compile a list of vendors, and vet each one against their requirements.

While it’s always important to vet potential partners and confirm their offerings meet your requirements, the Decision Diamond helps eliminate some of the early confusion and research time. By highlighting the best companies for these four markets, businesses can easily identify the current project management market leaders, and narrow their searches.

The above is another great post by our friends at TechnologyAdvice.  Specifically, Cameron Graham is the Editorial Coordinator at TechnologyAdvice. He oversees market research for healthcare IT, business intelligence, and other emerging technologies. Connect with him on LinkedIn or Google+.