Resource Management Software

Efficient resource management is vital for businesses looking to maximize productivity, profitability, and project success. However, with so many moving parts to consider, from staffing and equipment to timelines and budgets, it's no wonder many organizations struggle to get it right.

Resource management software offers a solution to this complex challenge by providing businesses with an automated and centralized platform for monitoring and managing their resources. These tools enable managers to quickly identify underutilized resources, forecast future demand, and optimize resource allocation for maximum efficiency.

But with numerous vendors available on the market, choosing the right resource management software can be daunting. In this buyer's guide, we'll take a closer look at resource management software, exploring the key features, benefits, and considerations that go into selecting the right solution for your organization.

Resource management software is a digital tool that helps organizations efficiently plan, allocate, and optimize resources such as people, equipment, and materials. It provides a centralized platform for managing resource utilization, availability, and scheduling. This enables businesses to make informed decisions, eliminate manual processes, and maximize productivity.

These tools are especially useful for larger organizations that require greater optimization of employee workloads and project assignments. For example, a large consulting firm that provides professional services to clients may use resource management tools to manage the allocation of their employees' time and skills. They can track which employees are available for new projects, their skill sets, and their availability, allowing the company to quickly and easily match employees to projects based on their expertise.

Resource management software and generic project management systems both have their own distinct purposes and functionalities. While traditional project management programs focus on managing project timelines, tasks, and workflows, resource management tools are specifically designed to optimize the allocation and utilization of resources required to complete project activities within the set deadlines and budget constraints.

Resource management solutions help project managers track the availability of their workforce, identify what skills they have, and make informed decisions about resource allocation. On the other hand, generic project management software provides a broader view of the entire project by tracking project milestones, dependencies, risks, and progress. Overall, both software types are important for project management, but they serve different needs and complement each other for effective project execution.

In our Features section below, we will dive into the specific functionalities of resource management applications and how they can help organizations manage their workforce efficiently.

Managing resources manually can be time-consuming, error-prone, and inefficient, especially for complex projects involving multiple departments or teams. That's why organizations need resource management software.

Here we will explore the key benefits of using resource management tools and highlight some compelling reasons businesses should consider investing in this technology.

1. Improved Resource ROI

Resource management software helps businesses extract more value from their investments in employees and equipment by optimizing their utilization. Project managers can easily track the time and effort spent on each project to identify which resources generate the most value. This allows businesses to allocate their resources more effectively and increase profitability.

2. Accurate Invoicing

Businesses can rely on resource management tools to generate accurate invoices by tracking project time and expenses. This helps reduce disputes and delays, improve cash flow for the organization, and free up staff time to focus on more strategic tasks.

3. Greater Visibility

This software provides organizations with real-time visibility into their resources, enabling them to make more informed decisions about resource allocation. It also helps team leads ensure that resources are used efficiently and improve overall performance.

4. Improved Forecasting

Resource planning and scheduling tools empower users to better predict future needs and allocate resources accordingly. Businesses can match their workforce to their future needs and ensure that resources are being used in the most efficient manner possible.

5. Redundancy Planning

Resource management software provides businesses with the intelligence they need to identify roles that are no longer needed. This allows companies to make informed decisions about reskilling employees or implementing redundancies when necessary.

6. Workload Optimization

Balancing workload is crucial for optimal resource utilization. With resource management programs, project managers can view each employee's workload and ensure that no one is overburdened or underutilized. 

7. Better Resource Planning

These software solutions enable organizations to improve their resource planning process by forecasting capacity, scheduling multiple projects, and adding projects to the pipeline. This helps reduce the number of unnecessary meetings and ensures that resources, including human, are allocated effectively.

Managing resources can be complex and challenging, but with the right resource management tools, businesses can simplify this process and improve their overall efficiency. These tools should have certain essential functionalities to keep your projects well-staffed.

Let's explore some key features to look for when evaluating project resource management software.

We have devised five-point criteria to help you decide which software is best suited for you.

What you need to do:

• Put a tick against each of these basic resource management software design benchmarks
• Shortlist your top five contenders; test them individually or collectively

We have also compiled a list of the top-five project resource management tools a few sections down; they can serve as a good starting point for your analyses.

See the checklist below and remember that the software with the most checks wins (our recommendation is to go ahead to the next stage with the steps listed below).

Next, you need to narrow your choice to one resource management app. Visit its product profile page – use our search bar above – to book a demo or get pricing (accurate, updated, custom plan figures for your workplace) so you can get subscribed quickly.

Resource management software pricing can vary depending on the features and capabilities of the software, as well as the needs of the business or organization. Many resource management software providers offer tiered pricing plans that allow customers to choose the level of functionality that best suits their requirements.

Some vendors charge a monthly or annual subscription fee, while others offer a one-time purchase option. It's important to carefully evaluate the pricing models and features of different resource management software solutions to ensure you get the best value for your investment. Additionally, consider factors such as ease of use, customer support, and scalability when deciding which project resource management program to choose.

For more pricing information, download our comprehensive project management pricing guide.

Managing resources for your projects can be challenging without the right tools. To help you with this, we have researched and evaluated the top 5 resource management tools that can optimize your workflow and resource allocation. Let's dive into our list and find the most suitable solution for your project needs!

Smartsheet Software 

Smartsheet Software is a top-tier resource management software that enables teams to make informed decisions about project planning, budgeting, team capacity, and utilization. With its unique project and resource matching feature, users can match team members to project requirements based on availability, skills, and more. 

Overall, its intuitive interface, collaboration features, and customizable reporting make it a valuable asset for any organization looking to optimize its resource management processes. 

Pricing 

• Free: $0/user/month
• Pro: $7/user/month 
• Business: $25/user/month 
• Enterprise: Custom Pricing

Key Features 

• Built-In Timesheets: Streamline resource management with efficient time tracking and management tools built directly into Smartsheet 
• Expense Tracking: Monitor and control project costs with the expense tracking capabilities and gain real-time visibility into project spending 
• Project templates: Create customizable templates for common resource management processes, which can be reused and adapted for future projects 
• Reporting: Monitor progress in real-time and gain detailed insights into resource usage, project progress, and budget adherence 

Pros and Cons

ClickUp Software 

ClickUp Software is a comprehensive resource planning tool that empowers users to effectively plan and manage tasks by assigning them to the right team members. The software provides real-time updates on resource availability and utilization, enabling teams to identify potential bottlenecks and optimize their resource allocation.

Additionally, ClickUp custom dashboards provide various data visualization options, including charts and calendar views, to help users gain insights into resource utilization, team performance, and project progress.

Pricing 

• Free Forever: $0/user/month
• Unlimited: $5/user/month
• Business: $12/user/month 
• Business Plus: $19/user/month 
• Enterprise: Custom Pricing 

Key Features 

• Calendars and Timelines: Visually represent tasks and projects for easy scheduling and efficient resource allocation 
• Custom Dashboards: Create personalized views of data, including resource utilization and project progress, to enhance decision-making and analyze resource performance
• Resource Planning: Track and allocate resources, such as staff, time, and equipment, with robust capacity planning and scheduling tools 
• Customizable Automations: Automate routine resource management tasks, such as assigning tasks and notifications, to save valuable time and resources for more critical work 

Pros and Cons 

Bigtime Software 

Bigtime Software is a time tracking and project management software designed to streamline operations for professional service firms. It offers a user-friendly interface that simplifies the process of recording time, tracking expenses, and managing projects. BigTime's robust features include automated timesheets, customizable reporting, and seamless integration with accounting software. 

Utilizing a centralized platform for time tracking and project management, BigTime helps firms improve billing accuracy, increase profitability, and enhance overall efficiency. Its intuitive design and powerful functionality make it a valuable tool for businesses seeking to optimize their operations and deliver exceptional client service. 

Pricing

• Essentials: $20/user/month
• Advanced: $35/user/month  
• Premier: $45/user/month
• Foresight: Custom Pricing  

BigTime software’s pricing model offers four tiers. The lower tiers are designed for smaller businesses; the higher tiers are for large enterprises. 

Key Features

• Project Management Tools: BigTime not only allows you to create and manage projects, but also break them down into smaller, more manageable tasks 
• Financial Reporting: Generate customizable financial reports to monitor performance 
• Billing: Handles both invoicing and payment processing directly 
• Expense Tracking: Monitor and manage project expenses

Pros And Cons  

Zoho People

Zoho People is a comprehensive HR management platform designed to streamline various HR functions, from recruitment to employee engagement. It offers a wide range of features, including applicant tracking, onboarding, time and attendance management, performance reviews, payroll processing, benefits administration, and employee self-service. These capabilities enable businesses to efficiently manage their workforce and improve overall HR efficiency.

Zoho People is particularly well-suited for small and medium-sized businesses seeking a unified HR solution. Its user-friendly interface and intuitive navigation make it easy for HR professionals to manage their daily tasks. Additionally, the platform's integration with other Zoho applications, such as Zoho CRM and Zoho Projects, can further enhance productivity and streamline business processes.

Pricing

• Free: $0/user/month
• Essential HR: $1.5/user/month 
• Professional: $2.5/user/month
• Premium: $3.5/user/month
• Enterprise: $5/user/month
• Plus: $10/user/month

Key Features

• Customizable Dashboards: Create custom dashboards that showcase data according to your own needs and whims
• Employee Database: Maintain a centralized database of employee information, including personal details, employment history, and contact information
• Recruitment: Manage the entire recruitment process from job posting to onboarding, including applicant tracking, interviews, and offer letters
• Time And Attendance: Track employee time and attendance, including shifts, overtime, and leave
• Payroll: Process payroll efficiently, including calculating salaries, deductions, and taxes

Pros And Cons 

actiTIME

actiTIME is a robust time tracking and project management software that helps businesses efficiently manage their projects and resources. It offers a wide range of features, including time tracking, task management, project planning, and reporting. The software's intuitive interface and customizable dashboards make it easy for teams to track their progress, identify bottlenecks, and optimize resource allocation.

actiTIME is particularly valuable for businesses that need to accurately measure employee productivity, track project timelines, and improve resource utilization. Its comprehensive reporting capabilities provide valuable insights into project performance, allowing businesses to make data-driven decisions and identify areas for improvement.

Pricing

• 1-3 Users: $0/user/month
• 1-40 Users: $6/user/month 
• 41-200 Users: $5/user/month 
• 200+ Users: Custom Pricing

Key Features 

• Time Tracking: Accurately track time spent on projects, tasks, and activities 
• Task Management: Create, assign, and prioritize tasks within projects 
• Project Management: Plan, track, and manage project timelines and milestones 
• Reporting: Generate detailed reports on time usage, project progress, and resource allocation 
• Timesheets: Create and manage timesheets for employees 

Pros and Cons 

As organizations continue to face increasingly complex challenges in managing their resources, investing in a comprehensive resource management software solution has become a strategic imperative. When choosing the best software for your organization, it's important to consider many factors, including functionality, scalability, integrations, and customization options. Our buyer's guide offers valuable insights that will help you make an informed decision and choose the tool tailored to your unique needs.

To learn more about resource management software, schedule a consultation with one of our experts and get personalized recommendations based on your unique needs.