When we talk about project management software automation, one word immediately comes to mind: Productivity. As a refresher, let’s review what project management automation means. Automation can be described as the process of using technology, like artificial intelligence (AI), to complete tasks with minimal or no human intervention. In terms of project management automation, that refers to technology completing project management-specific actions, like team communication and collaboration, project tracking, and workflows, all while applying proper project management methodologies and frameworks that provide structure and direction.
So, now let’s venture into the juicy part – as a business owner, why should you use automation in project management software?
Increased productivity is no doubt the prime benefit of automating project management tasks. When we talk about automation and productivity it’s important to know that it’s not a global robot revolution. No, we won’t become an episode of the dystopian science fiction show Westworld any time soon. Rather, we’re leveraging technology to help scale our efforts. Automation relieves us from doing monotonous tasks that are, most of the time, mind-numbing and uninteresting.
When we employ automation in the workplace, and especially with project management tasks, we can focus more on value-added stuff, like change management, implementing risk mitigation strategies, or ensuring effective project leadership. Think about what project activities are repetitive and constant in your organization. They likely require a lot of manual time and effort, like project billing processes, expense and time tracking, revenue recognition, and resource management. Grow your team and hand off these tasks to Sage Intacct to manage so you can free up resources for other more critical project activities. Project management software automation paves the way for more innovation, advancement, and efficiency.
Smart project managers leverage technology to reach project management goals. With the rate of technology advancements from the increase in smartphone usage, the surge in the number of Internet of Things-connected devices, and the projected AI market to be worth $69.51 billion by 2026, technology is exponentially advancing and at an incredibly fast rate. A rate so fast that organizations are struggling to keep up. However, the worst thing you can do is turn a blind eye and maintain the status quo. Being stubborn will ensure you miss technological opportunities that grow your business and project team.
Covid-19 also started an unprecedented path with technology. We saw businesses that embraced technology to survive the pandemic continue to thrive post-pandemic. Utilizing project management software technology in the workplace is paramount to gaining and then maintaining a competitive edge in your industry. Stay current and thrive by getting ahead of technological changes and trends (like *wink* automation *wink*). This must be done to ensure growth, that you remain relevant, and that customers keep coming back to you.
Better Data Insights
By using project management automation, data analytics are automatically tracked and recorded in your Enterprise Resource Planning (ERP) system. You can access this information and pull valuable insights that help form data-driven decisions. Additionally, automation speeds up the analysis of this data. There’s no delay between capturing the information and retrieving it from the system. Data is being funneled into the ERP in real-time, so you can access that information to analyze as soon as it’s there. No longer are you waiting forever to receive reports from the IT team, that inevitably are outdated by the time they get in your hands.
Project management data is complex. You could have multiple internal and external projects running concurrently, making it hard to organize the data efficiently. With Sage Intacct, all your project’s data is in one platform where it’s systemically organized and presented in colorful formats and visualizations that are easily understood, like dynamic graphs, custom dashboards, and multi-filter dimensional reporting. Automation also reduces operational costs and the errors involved with manually merging data from disconnected systems.
We just brushed the tip of the iceberg when it comes to the importance of project management software automation. Check back to our Resources section for more in the coming months! Or, if you can’t wait, reach out to our team at Forbes Andersen Technology. We can help you discover how to automate your project management processes in a very intelligent way so that you maximize ROI and drive organizational growth.