Every organization is unique as they’ll all get a different ROI based on multiple work management tools used for managing projects. In today's digital world, one has to maximize the ROI with integrated applications for competitive gains.
The challenge with disparate systems
Digital transformation has accelerated the rapid proliferation of cloud apps, APIs, web, mobile apps, devices, and remote working today. Organizations are struggling as they have multiple systems across departments for different functions and tasks. You may be managing your work using various tools of project management software. For example, there may be one tool used for project management, another for time tracking and another tool for timesheets and another for financial reporting – sound familiar?
An organization's applications portfolio gets further complicated by using different systems in different departments or across locations. In these cases, systems may lack integration capabilities compounded by legacy application limitations.
It’s challenging to determine the ROI from these multiple tools yet work continues with inefficient processes and limitations to information availability. Delayed decision-making and a loss of valuable time will unfortunately help the competition.
The rise of SaaS applications for work management
Companies always try to evaluate new technologies as they look to grow. The quintessential question faced is: should we build a custom-made app or use an existing product? But as a business scales up, in-house applications and technologies will become unmanageable and expensive to maintain – the answer lies in Software as a Service (SaaS) applications.
SaaS has become mainstream, with flexible applications across industries providing multiple functionalities. Some of the benefits that can be gained include long-term cost savings, increased out-of-the-box functionality, lower risk, and a faster time to market.
Where can your organization maximize ROI in managing work and projects?
Cloud-based SaaS applications, portable devices, and high integration capabilities have changed today's work environment.
ROI's increase will come from efficient processes, timely delivery, and a high quality of work. However, that’s a holistic view. We need to look in-depth at some of the areas where technology maximizes ROI with integrations and unified views.
Today organizations are seeking and need an enterprise-wide view of all that’s happening in their organization, whether it be about projects, finances, or employees.
Did you know you need only one application instead of multiple tools for managing projects today? The right tool can increase your ROI, reduce costs and increase efficiency and productivity.
Vault helps companies efficiently scale and streamline their work by centralizing all projects, tasks, and customer data into a single, real-time platform. Being a SaaS platform, it’s browser-based and becomes affordable too with a monthly subscription.
Here are some areas that you could capitalize on for ROI maximization with Vault: improve efficiency in project management with Vault tasks, team collaboration, notifications, scheduling, in-depth analytic dashboards, scheduling activities, centralized and unified views. Vault empowers customers by using the latest digital technologies to deliver innovative features.
Projects get executed through tasks and milestones. The creation of tasks and assigning them to people with due dates and dependencies is a time-consuming process.
Vault comes with ready-made templates for boards, lists, and tasks in order to simplify the process. You can view the progress of your project's by managing tasks with simple 'To-do', 'In-progress', 'Review', and 'Done' lists. Alternatively, you can make as many custom lists as you like. These are sharable across workspaces and projects and will save time in task management activities and your ROI on task management activities.
Read on: Don´t be overloaded, plan better
Vault enables comments and tags on tasks. Improve team communication and collaboration by leaving comments on tasks and tagging users. Spot priority tasks quickly as high priority ones are automatically colored. Labels like 'My Task' will appear under cards assigned to the logged-in user. This will improve team collaboration and help in easier identification and notification of tasks unlike referring to multiple applications and missing out on important items. Here we save time and work becomes more efficient with a centralized communication that boosts efficiency.
Many times, projects suffer because there are no timely notifications and it may not be easily accessible. Vault provides you with real-time notifications to any changes made to the tasks. A change log enables a complete audit trail on changes made to a task.
Track your team's progress on tasks and spot risks and issues to keep your work on track. KPI dashboard analytics shows innovative statistics on tasks like those completed in a month, outstanding tasks per assignee, and more. Drill-down reporting and dashboards showing analytics will help management make accurate decisions faster.
Read on: Vault's Ultimate Guide: Tracking KPIs for Project Management
Use the Schedule chart to plan better and view tasks over project timelines. You can even track time across tasks and projects with the Time tracking module. Use the Checklist feature with priority settings to ensure no task gets missed. You can monitor reports and KPI's in real-time dashboard views. Gain valuable data-driven actionable insights by having all business and project indicators centrally in one system.
- Unified enterprise-wide view
Vault integrates project management with other modules like HR management, Operations management, Sales management, and Financial management modules. Drive benefits through a centralized application enabling better trending, forecasting, and planning.
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Vault makes an organization’s processes more efficient and streamlines operations to realize improved productivity gains and higher revenues. It increases efficiency returns at each stage of managing projects.
How Vault maximizes value
Vault is a highly flexible software which can benefit an organization:
You get better visibility across projects leading to efficient tracking and scheduling with integrated time tracking. Along with an increase on-time delivery of projects within budget and improved team collaboration.
Identify risks and mitigate early along with resource insights. Optimize project delivery with tasks, processes, budget management, and communication with real-time analytic dashboard reports. Improve customer relationships leading to more business.
Save costs with a single system instead of combining systems, excel sheets, and manual paper-based activities. Real-time alerts enable timely action for issues. Being a SaaS application, Vault doesn’t require any IT resource or infrastructure investment. An affordable monthly subscription delivers higher cost savings.
A single unified project management platform eliminates the need to source data from multiple systems, thereby saving time and avoiding errors. Increased data visibility and customized views, dashboards, and reports on the fly improve efficiency.
- Ensuring security & compliance
Vault offers encryption for data in transit and at rest, making your application and data more secure to meet compliance requirements.
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Vault brings about efficient collaboration across teams. Your staff can see the bigger picture, and transparency helps improve staff morale with automated features. Internal barriers between teams diminish and better visibility of data across the enterprise helps in faster and accurate decision-making. It's time to gain the competitive edge with digital technologies.
Read on: How technology improves project management
Maximize your ROI in project management with Vault and start discovering the positive outcomes.
