7 Essential Resource Management Software Features for 2023
For your business to smash targets and projects, you need the right resource management software. However, it’s unwise to pick any software from the sky – you need one with the right features for your specific requirements. Why spend through the noise for features you don’t need?
In this article, we’ll show you the most important resource management software features to look out for. When it comes to effective resource management, these tools should give your business everything it needs to scale in the years ahead.
7 best resource management software features
Using our expertise and industry experience, we’ve handpicked the seven must-have resource management software features for 2023…
1. Cloud-Based Software
Cloud-based resource management software has become essential, especially since the rise of remote working. This software enables you to check resource data from anywhere, at any time, on any device – whether you're on the go or working from home.
Unlike server-based software that requires you to log into your office desktop computer, with cloud-based software, you can simply check the availability of a specific resource using your smartphone or tablet. This flexibility is what makes the cloud one of the most important resource management software features on our list..
Cloud-based software is also scalable. It allows you to expand or contract your resource allocation as your needs change. Plus, since updates and maintenance are usually managed by the software provider, your business can focus on managing its resources without worrying about IT infrastructure or software updates.
2. Dashboards and reporting
The best resource management software features make your job easier. It’s that simple. That’s why you should look for software that offers real-time insights into your resource allocation, providing customisable dashboards and reporting features.
With these features, you can easily visualise data and monitor key performance indicators (KPIs) for each stakeholder, allowing you to ensure that the right resources are working on the right projects, and that work is aligned with your company’s goals.
Let’s say an executive dashboard can show resources by project, department, program, or portfolio. This will give you a better understanding of why resources may not be available for a particular project, and justify resource and funding redistribution based on the value the project delivers.
By utilising dashboards and reporting, you can improve communication and decision-making within your company, ultimately leading to better resource management and project outcomes.
3. Speedy scheduling
Speedy scheduling allows you to quickly schedule new client resource requests and manage your bookings, jobs, clients, and resources – all in one place. For instance, you can easily check availability and capacity across your organisation and make changes to bookings and jobs with ease.
If you’re particularly conscious about hitting deadlines, this is one of the most effective resource management software features.
4. Resource planning
Similar to speedy scheduling, this feature enables your business to make quick, effective decisions with ease. Rapid resource planning makes it easy to improve service delivery by ensuring you have the right skills on the right project, and to quickly search for unassigned resources, find specific skills, or view resource availability to ensure that you choose the right resources for the job.
5. Track time and billable hours
With the ability to track time and billable hours, managers can monitor project performance and ensure that projects are running within budget. Resources can log their time against projects, and the system will automatically calculate billable hours for clients, simplifying the overall running of your business.
Tracking time and billable hours is an important feature for resource management software, helping you accurately track the time spent on a project. With this insight, you can make the most efficient use of your resources, while making it easier for decision-makers to identify areas where resources are being underutilised or overworked, and adjust resource allocation accordingly.
Lastly, tracking billable hours helps your business accurately bill clients for the work done, which should improve the accuracy of financial forecasting and revenue projections. This data can also help you spot opportunities for improving profitability, identifying areas where you can streamline operations and cut costs.
6. Quickly find qualified resources
We recommend you find resource management software that provides access to up-to-date personal profiles. This feature can match your people with projects that suit their skills, certifications, experience level, and availability, making it much easier to find a qualified resource to take on a specific role or responsibility. This is one of the biggest benefits of human resource planning.
For example, you can use the software to schedule a team of employees to work on a project and ensure they have the necessary equipment and materials to complete the job. This not only ensures you allocate the right resources to the right projects, but also the development of employee skills.
It’s also important to have a clear view of employee qualifications and experience levels, which should help your HR team identify gaps in their teams and recruit new talent to fill those gaps. As far as resource management software features go, this offers a variety of benefits.
7. Integration and automation
In terms of resource management, synchronisation normally leads to success. By integrating data from disparate systems – including CRM and HR systems – and by automating processes, your resource management software can save you time and provide a comprehensive view of your business and its people, making it easier for managers to find opportunities for resource optimisation, such as identifying employees who are underutilised or overworked.
Automation features can also streamline other resource management software features we’ve discussed, such as resource allocation and scheduling, helping to reduce the risk of errors and improving overall efficiency. By automating these processes, you can free up time for managers and employees to focus on higher-level tasks that require a particular expertise.