Resource Management Solutions: The Forgotten Key to Success

Feb 10, 2021

Resource Management Solutions: The Forgotten Key to Success

Maximizing resource efficiency and profitability is a top objective of every organization. From tapping into the full potential of a talent pool, to effective forecasting, and even business intelligence, resource management has become an integral part of success in today’s work environment. A high-level resource management solution not only optimizes a workforce, but it integrates with existing systems, provides comprehensive reporting and analysis tools, schedules resources far in advance, and centralizes information gathering and data.

For those who question why their organization needs a resource management solution, this essential tool will revolutionize the way your business optimizes project success.

Track Time and Projects 

During unpredictable times, every minute counts like never before. The days of separate tools for spreadsheets, calendars, and time cards are behind us, and utilization of accurate and integrated billing and time tracking marks the difference between an average professional services provider and an excellent one. Good resource management solutions contain tools like live time and expense tracking features which mitigate costs and ensure that budgets remain viable while also implementing repeatable processes that can do this over and over again. Minute-by-minute control over projects seems impossible to accomplish, but successful software tools provide templates and customizable plans that drive the necessary outcomes.

Managing a team becomes a seamless operation when a system is in place to produce role-based planning, skills management, and profitability comparisons between different projected scenarios. Task allocation based on skill and experience assessments prevents overloading and also ensures high employee satisfaction and retention as team members are consistently being set up for success.

Increase Visibility and Control 

Having all the information about your resource pool, workload, and projects in front of you on a digital dashboard makes the added difference your organization needs to thrive in our unique business environment. A visual calendar with time blocking allows the entire team to thoroughly understand the project timeline, make changes where necessary, and adjust quickly when unforeseen obstacles come up while staying on track. Extended visibility and scenario planning for project managers allows leaders to better understand the impact of variables on resources and budget while also being able to respond effectively to meet client needs. Flexibility and insight are essential capabilities leaders need to have at their disposal in order to make the kind of key decisions that are particularly crucial today.

Analysis and Reporting 

As unpredictable as industry trends can be, an effective resource management solution has the tools to provide informed recommendations to solidify the successful future of the organization. Forecasting capabilities ensure forthcoming projects have all the resources they need at their disposal by scheduling them in advance. Insights features like Mavenlink’s BI suite provide customizable reporting and data visualization capabilities to centralize analysis and budget management throughout the project lifecycle. Reports after project completion also allow teams to learn what could be improved in the future and also what went well.

Integrate Solutions 

In today’s day and age, service providers are likely juggling a multitude of apps including HR platforms, financial software, and data analysis tools. It’s a job in and of itself to manage all of these and consolidate them into regular businesses processes. With solutions like Mavenlink’s M-Bridge, the resource management, project management and the business apps your organization needs can be seamlessly integrated. These applications are investments themselves, but resource management solutions that also function as an integration site ensure that you are getting your maximum ROI.

Ensure Your Organization is Equipped for Success

Mavenlink is an award winning resource management solution that has been driving client success for years. Take your business to the new heights today and access the key to next level success.

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