Why do Businesses in Singapore need a Project Management System/Software?
There has been no other time in business history where business has been extremely complicated than now. Everything about business has changed and things are getting faster, complicated and extremely dynamic. What has changed?
Marketing strategies that worked two years back, do not work anymore, competitors have gotten better at analysis, the competition is not just local, but worldwide. Those are some of the things that have changed and how.
Businesses in Singapore are even more vulnerable as this is the business hub of Asia. Competition is the most extreme in Singapore and emerging countries like India and Philippines are competing for their share of pie from the Singapore market.
How does one stay ahead of the curve?
The answer is structure. Any organization that is structured and works in a structured manner is bound to be two to three steps ahead of the competition.
How do you get this structure?
Having a project management software can help a company exponentially! It immediately brings order to communication, ideation and project handling. Let’s look at some of the benefits of having a project management software
One of the most important aspects of running a good company is collaboration between employees. A platform to collaborate and discuss ideas and processes will do wonders for the team and keep everybody in the same page. Projects that require multiple disciplines need constant communication and back and forth mails between teams. What If all this could be classified and structured? This will aim in better communication and ultimately improve results. A project management system can bring your team together and give them a common canvas to work on.
A success of a project is dependent on the plan. If there is no planning, there is no success. But a good plan is always structured and broken down into individual tasks. Ideas can be scribbled down on post it notes and stuck in the wall, but there’s nothing like an idea written down, assigned to a person, given a deadline and ordered based on priority. This is what project management software brings to the table. Solving a problem is basically breaking down the problem into smaller issues and then tackling them. A project management system helps in keeping the team calm and not overwhelmed by the huge task in hand.
Most teams all over the world, especially in the services business are working on multiple projects at the same time. The Issue with working on multiple projects is a lack of focus. Our brains are not trained for multi-tasking and therefore its difficult to compartmentalize thoughts based on each project in the brain. But you do not have to do it, if it’s already done for you through the project management system. E-mails do not do a good enough job in separating different projects and structure. But a good tool can help in keeping projects separate and showing only what is important at that point of time.
One of the biggest time consumers during collaboration is document management (PPT’s, PDF’s). Documents are mailed and exchanged and different versions are sent across without any specific Idea of what is current and what the important documents are. A project management system will collate all the documents in one place and keep it easily accessible to all the team members. This avoids storing it locally and trying to figure out which document is what.
In the olden days, time wasn’t as measured as it is now. Previously, a task would be given to a person and the work was expected by the end of the day. The difficulty of the task, the time it would take was not factored in. A project management software brings in that efficiency which helps in maintaining productivity as well as getting work out within the time.
The competition in Singapore is just starting to heat up. Singapore till now has enjoyed a strong business situation in all of Asia. But with the increasing skilled labor market in other countries as well as the favourable currency, other countries may have an advantage for the first time. If Singapore businesses have to survive then they have to have world-class systems in place that can beat their competitors through efficiency, productivity and effective collaboration. Not only for businesses in the Tech space, but also in manufacturing, services require the help of a project management software to have an edge over other competitors.
Novatise creates business softwares such as Customer Relationship Management System – CRM, Human Resource Management System – HRM and Accounting Softwares to help Singapore SMEs increase productivity.