Finding the right project management software for your business

Our EQ Technology team work closely within the sector to find the best solutions for our clients and understand that one of the most important roles for businesses is to manage the costs and income of individual projects it is undertaking.

Projects in IT and technology are often complex and it is important to establish as early as possible if they will be profitable, or if potential losses can be mitigated or absorbed.

The function of project management software can be wide and varied, and there are many options available to businesses, however there should be some core functions you should be looking for;

• Job Management: A means to track the progress of individual tasks to ensure that you are able to complete a project on time.
• Time Tracking: Keeping track and costing the time spent on a project will ensure that it is costed and charged correctly.
• Lead Management: A means of keeping track of all potential sales and ensuring these are followed up to ensure there are no missed opportunities.
• Job Costing: The most important function, a means of giving you up to date costs for projects. This will allow you to ensure that project costs remain on target and ensure that you are charging enough to cover the costs incurred.
• Accounting system integrations: This will help with administration and reduce the amount of processing required and help keep things up to date, quickly and easily.

There will be the inevitable consideration of costs to consider, though a less expensive option might not offer all the functions required in years to come as the business grows, meaning an investment in a system which appears more than is required for now may be a prudent decision.

Knowing how your project is progressing can give you a deeper understanding of where your resources are being spent, what you need to prioritize and when, and if you’re at risk of going off track. Our EQ Technology specialists can work with you to help find the right project management software for your business, allowing you to forecast issues before they become issues, prevent bottlenecks, and can help you make smart, data-driven decisions.

If you would like to discuss further how we can support your business needs, please email EQ Technology team on technology@eqaccountants.co.uk or contact one of our offices.