Compare the Top Strategic Portfolio Management Software in 2024
Strategic portfolio management software enables organizations to manage business resources, strategic goals, requirements, enterprise architecture, and more. Strategic portfolio management software is critical for defining and managing business objectives across an entire company, including IT projects and other business investments. Companies can better align their resources with their goals by using strategic portfolio management software. Here's a list of the best strategic portfolio management software:
-
1
AchieveIt
AchieveIt
Manage strategic plans & projects and improve execution. AchieveIt is the best software for leaders and planners to align teams to a plan, visualize progress, and track execution performance in real-time. Most planning & execution processes are broken. Some use a project management tool or business intelligence system, but the majority resort to Excel and PowerPoint. These tools are simply not built for plans that are connected and span across departments and locations. No more manual email requests, endless status update meetings, and lengthy update processes. AchieveIt leverages automated update requests to regularly collect updates at the frequency you need. Cut weekly processes and delayed results into immediate input with fresh data. Leverage real-time, automated dashboards that enable proactive response. Make key decisions faster. See every plan on the same dashboard. Quickly and easily spot trends, weak spots, and successes. -
2
Alfabet FastLane
Software AG
Start managing your IT portfolio in minutes! With Alfabet FastLane in Software AG Cloud, you’ll get answers fast about your IT investments for better cost management, improved agility, and faster delivery of IT innovations for the business. IT landscape too difficult to understand? Now you can see it all—business, application, information and technology portfolios—in one place. Put your IT information into Alfabet FastLane. Then quickly generate dashboards and reports that make it easy to comprehend even the most complex IT architectures. Low-cost Alfabet FastLane is a great place to start with IT portfolio management. There’s no configuration or implementation time. Realize value fast with predefined business questions, reports and roles, as well as simplified and guided data upload.Starting Price: $30,000 -
3
Planview Portfolios
Planview
Accelerate strategic execution with Planview Portfolios (formerly Planview Enterprise One™) by integrating business and technology planning, optimizing all resources, and delivering breakthrough products, services, and customer experiences to achieve maximum business performance. Manage and deliver across all types of work, technology, and application portfolios. Translate business requirements into standards to meet strategic objectives, reducing cost and mitigating risk. Get a complete approach for all kinds of work – traditional, agile, iterative, and collaborative. Balance work and resources and keep teams productive. Get the most effective use of your resources. A scalable user experience ensures everyone is working on the right priorities to deliver the right outcomes. Ensure on-time, on-budget project delivery. Schedules and milestones keep people and projects on course for maximum impact; dashboards give performance insight. -
4
Planview Changepoint
Planview
Planview Changepoint enables end-to-end professional services automation for services-first businesses to streamline quote-to-cash and drive profitability. Changepoint Services Automation (SA) is an end-to-end Professional, Managed, and Embedded services software application designed to power the entire engagement lifecycle. From identifying services opportunities, to contract and project management, to invoicing and revenue recognition, Changepoint SA drives efficient orchestration of engagements, projects, and resources for informed business planning, improved financial control, and accelerated revenue growth. Groups all key customer lifecycle information in a way where everything makes sense. Never lose sight of who your key customer contacts are, so you can reach them when needed. Know your customer lifecycle health, immediately, based on the most important KPIs. Discover every aspect of the customer lifecycle and capitalize on every financial opportunity. -
5
Triskell PPM
Triskell Software
Triskell is a robust and scalable enterprise portfolio management (EPM) and project portfolio management (PPM) platform that enables users to plan, prioritize, manage, and monitor their company's initiatives. Available as a cloud-based solution, Triskell enables users to access their PPM system from anywhere and at any time. Triskell PPM features a variety of tools for capacity management, demand management, application portfolio management, project portfolio management, financial management, resource management, IT service management, and classic and agile project management. -
6
Camms.Project
Camms, a Riskonnect Company
Camms.Project gives your business the best platform to consistently deliver effective projects and portfolios with a simple, easy to navigate and understand platform built with the end-user in mind. Overcome the complexities of modern-day project and portfolio management using a flexible solution that can adapt processes and workflow, integrate with third-party systems and deliver tangible results. -
7
KeyedIn
KeyedIn Solutions
KeyedIn Solutions seeks to transform how Project Management Office (PMO) teams work with its cloud-based project portfolio management solution. Featuring a refreshingly simple interface, KeyedIn helps businesses improve project selection, resource deployment, and portfolio-level reporting. It offers a unique mix of tools for managing portfolios, resources, financials, deliverables, and more.Starting Price: $25.00/month/user -
8
UMT360
UMT360
UMT360’s Strategic Portfolio Management solution provides the critical portfolio management capabilities that most organizations are currently missing. UMT360 ensures that the right top-down business planning and controls are in place to help you model and analyze all aspects of your portfolios, align all investments with strategy and accelerate business transformation. Our unique approach helps clients incrementally deploy the specific capabilities needed to attain visibility, gain insight and establish the enterprise connections needed to improve decision-making and accelerate business transformation. Key capabilities include: • Governance Controls Across Any Portfolio • Demand & Innovation Management • Budgeting & Forecasting • Resource Utilization & Management • Outcome Management • Strategic Portfolio Analysis • Roadmapping & Release Management • Business Intelligence & Metrics -
9
ServiceNow Strategic Portfolio Management
ServiceNow
Create greater value from your initiatives and enable change faster across the enterprise. Plan, prioritize, and track work aligned to business objectives. Deliver enterprise agility for better business outcomes. Manage outcomes to create value. Gain visibility into portfolio investments and business strategies for better outcomes. Track progress in real time to see exactly how funds are spent and the value of the work being delivered. Adapt planning for uncertainty. Connect your investment plan to your work plan of action for greater agility. Gain visibility into project outcomes, assess related top-level investments, and adapt to make adjustments on an ongoing basis. Scale work to deliver faster. Manage strategic and operational work in one place and reduce bottlenecks to get to market faster. Increase agility by optimizing and reallocating resources as priorities shift. -
10
OnePlan
OnePlan
Organizations wish to adapt, innovate, and compete. In reality, they are like the people in them, complex, full of potential, and with old habits. Business agility means adopting the mindset, practices, and tools to become more value-focused and customer-obsessed. The OnePlan team’s purpose is to help your organization on its path to innovation, flexibility, and speed by offering technology and consulting services to suit your needs at different stages of your journey. Identify key business strategies and connect them to enterprise-wide execution activities. Align work to objectives, business outcomes, and real-time performance. Expand agile practices to more teams and to the executive level, improving time to market, quality, and productivity. Empower different teams to use the execution methods and tools that best suit them. Maintain visibility and decision-making across all. Be the leader that has the ability to navigate change rapidly and with confidence.Starting Price: $5 per month -
11
Broadcom Clarity
Broadcom
Speed up your digital transformation with Clarity, the leading investment-planning solution for the enterprise. Instead of traditional project management, we help you transition to digital product management, where you manage value streams to counter market disruptions, maximize enterprise resources, and pivot with fluctuating customer demands. Make sure you are investing the company’s time and money in the right business initiatives. See how your investments are doing in real time. Base your prioritization on value-based decisions, not gut feelings. Strategic portfolio management allows you to continuously plan and prioritize work to fit both customer demands and business needs. To succeed, however, you need a solution that helps you manage the entire value stream – from concept to cash. Spin up projects in minutes and let teams work the way they want, while staying engaged with the business. -
12
Cora PPM
Cora Systems
Cora PPM is a centralized Enterprise Project & Program Management solution which provides the control, governance and insight required to identify, prioritize and authorize extensive enterprise portfolios that align to strategy and deliver ROI. The platform digitizes all your portfolio, program and project processes, surfacing information when, where and how it’s needed. It also streamlines business processes; transforming the way you manage your program lifecycle. It provides the transparency, intelligence and decision-making capability to drive change across your enterprise. Cora PPM acts as a single point of entry for all project data, facilitating easy integration with any enterprise technology architecture. Providing you with an immediate, consolidated view of all your project portfolios and deliverables. Complete visibility and insight are acquired through instant information “roll-up”, linking top-down goals with bottom-up contributions of each and every initiative. -
13
Tempus Resource
Prosymmetry
Tempus Resource’s detailed What-If scenario planning gives you the power to create real options by simulating the effects of a multitude of changes to your project portfolio. Improve decision making with comprehensive understanding of the real-time impact of different resource decisions and scenarios on your project portfolio -
14
i-nexus
i-nexus
i-nexus helps your organization simplify the challenges of managing operational performance, driving sustainable continuous improvement, delivering business transformation, and executing breakthrough strategic plans. Cascade accountability and establish a counter measure culture to understand and manage daily lead times and their impact on commercial performance, revenue and other KPIs. Standardize your continuous improvement methodology, drive greater project success, reduce waste, and align improvement to strategic goals to truly understand their ROI. Instill a shared belief and responsibility for delivering strategic goals across your organization, ensuring your long-term, breakthrough goals are achieved alongside short-term efforts. i-nexus is the collaborative strategy software solution to planning, executing and tracking your strategies, portfolios, programs, and projects. Interested in achieving more of your goals, faster and with less investment? -
15
Planisware
Planisware
Planisware Enterprise captures your strategy and aligns your portfolios, projects, and teams to make an impact on the bottom line. Planisware Orchestra enables project decision-making across the entire portfolio and helps you reach the next maturity level. Planisware Enterprise is an integrated solution that brings together budgets, forecasts, schedules, resources, and actuals. Global organizations like Ford, Philips, Pfizer, and Société Générale, and dynamic mid-sized innovators such as Zebra, Beam Suntory, and MSA Safety alike trust Planisware to manage their project pipeline. Shape your strategy and assess results through roadmaps, budgets, and investment buckets. Define, prioritize, and manage your portfolio of projects through investment scenarios, and simulations. Gain visibility and manage your resources through capacity planning, resource scheduling, and time tracking. Control your projects through scheduling, costs, and deliverable management. -
16
Project Online
OnePlan
Microsoft continues to innovate, the platform and tools that address the needs of customers needing a project, portfolio, and work management capabilities. Built on the Microsoft Power Platform, this next generation of Project Online offers a robust foundation that allows your teams to be more collaborative and drive successful business outcomes than ever before. Strategy execution management is focused on supporting the dynamic portfolio management needs of business strategists, steering committees, strategy realization offices (SROs), and enterprise portfolio management offices (EPMOs). Product teams must be innovative, agile, and effective at deploying the right resources to the right work at the right time. Knowing when to bring a product to market can mean the difference between a leader and 2nd place. Give NPD the tools they need for competitive advantage. Demand can come from anywhere. -
17
Alfabet
Software AG
Digital transformation is pushing IT to do more. You’re tasked with mastering new tech, collaborating with the business on digital strategies and recommending strategic investments for the future. How can you do more with confidence? Go with the leader in enterprise architecture management, IT portfolio management and IT planning tools—Alfabet. Industry-analyst-recognized Alfabet helps you invest in IT wisely by managing your current IT portfolio and collaboratively planning for the future. Use the richest meta-model for your IT projects: portfolio rationalization, strategy alignment, API management, Agile innovation, cloud management, project execution, M&A due diligence, risk management, GDPR, IT governance and more. Get stakeholders onboard with your digital transformation. Customize Alfabet to appeal to each stakeholder in look and feel, the relevance of information, and clear procedures for task execution. Create stakeholder-relevant roadmaps, reports and workflows. -
18
GenSight
GenSight
Portfolio management is the most important, least understood and most commonly mismanaged aspect of business today. It requires a combination of processes, software and skills to select the collection of projects that bring the greatest contribution to the organization. Project selection is a strategic choice; the projects you select today will determine what you will be tomorrow. At the end of the day, strategy is simply the collection of projects that you decide to resource. We offer an integrated solution, which means one source of the truth. It means collaboration. When a manager responds to a risk or revises a forecast, the impact is immediately reflected in the portfolio. It means you can base decisions on reality. GenSight has helped leading global corporations achieve transformational business results through the implementation of our Portfolio Management solution. -
19
Project Objects
Project Objects
With our state of the art technology and continuous development cycle, we want to provide enterprises with a robust, flexible and comprehensive Project Portfolio Management solution that will offer your organization rapid benefits and a compelling ROI. Project Objects was designed with you in mind. We understand the industry and have the experience to back it up. We want to learn about your company and your needs, and will never recommend a solution until we have that solution. Innovation is not a buzzword for us, it's the foundation of everything we do. Recognised by Gartner as a Visionary in their PPM Magic Quadrant since 2010, Project Objects Project Management software helps our customers drive growth, deliver projects on-time and on-budget and make more effective decisions. -
20
EcoSys
Hexagon PPM
There’s a compelling case for leaving the status quo behind and adopting an Enterprise Project Performance approach. By integrating project portfolio management, project controls and project management into a single enterprise solution, EcoSys quickly delivers more accurate insights. The result: better project performance. Say goodbye to data siloes and slow, error-prone spreadsheets. EcoSys drives better decisions with automated reporting and real-time data access. Finding a balance between resource capacity and project demand doesn’t have to be a struggle. Eliminate the guesswork and optimize your portfolios with close alignment of strategy and project delivery. -
21
Accolade
Sopheon
Business leaders have clear visibility to R & D and NPD work, product and portfolio decisions and innovation plans with Accolade innovation management software. Designed for performance, scalability and security, it’s the single source of truth for all of your innovation data. Accolade supports optimal decision-making and empowers teams to be strategic and agile when responding to marketplace change. Improve time-to-market by effectively working methodologies like SAFe, Stage-Gate®, or a hybrid approach. At Sopheon, we guide our customers to efficiently manage product strategy to launch and beyond. Connect business to strategy and focus on fewer, bigger, and better innovation investments. With data insights illuminating gaps and opportunities, you can steer product and brand portfolios to meet your short- and long-term strategic goals. And when plans change, so can your portfolio mix. -
22
OrbusInfinity
Orbus Software
OrbusInfinity is a globally recognized, market leading software platform for organizations to manage, govern and visualize their business and IT transformation. OrbusInfinity is the only Enterprise Transformation tool built from the ground up to integrate with and harness the world’s leading suite of enterprise-grade, secure, business productivity tools: Microsoft 365. Supporting 4 core disciplines for enterprise transformation: Enterprise Architecture, Strategic Portfolio Management, Business Process Analysis and Governance, Risk & Compliance. OrbusInfinity offers unparalleled support for transformation use cases, with hundreds of proven business outcomes. The core of the OrbusInfinity platform is a SaaS repository with a fixed or extend-able metamodel that supports major industry frameworks: TOGAF, BPMN, ArchiMate, ITIL, COBIT and more. This provides a comprehensive and governed single source of truth, all in the cloud. Book a demo to find out more. -
23
Amplify
Amplify-Now
Business cases are not built on task milestone delivery alone, so why is that all you are tracking? Amplify takes a goals-driven approach to program delivery, keeping your team focused on the outcomes that matter. Much is made about organizational agility – the ability to react and respond to change. Without visibility, though, how can you respond before it’s too late? Amplify provides your team with the insights you need to identify and respond to challenges before they impact your bottom line. All too often solutions are built for the “power users” who live in a software while neglecting those who engage in a more limited scope. Amplify realizes that a successful transformation requires the engagement of all users and has built a solution with ease of use as a guiding principle – helping your team stay engaged and deliver success. -
24
Uppwise SPM
Uppwise
Strategy definition is a fundamental step to achieve strong strategy-to-execution alignment capabilities. Uppwise SPM has a dedicated strategy module which supports the creation of enterprise strategies by defining and mapping those elements which really matter into your journey to value creation. Strategic Themes (or Pillars) and Key Goals can be linked to Objectives & Key Results (OKR) to connect the enterprise vision to execution teams. Uppwise SPM strategy module is perfectly integrated with portfolio module to handle top-down funding and bottom-up updates on strategy execution performances. Uppwise SPM offers a powerful-user configurable and role-based dashboarding module which allows the creation of analytical pages to provide visibility of the root causes of success and failure. -
25
EOS ITPM Platform
EOS Software
Factors such as digital transformation, disruptive innovation, changing business models, security breaches, regulatory compliance, and hybrid architecture initiatives add an incredible level of complexity and risk to your IT strategy and plan. Our EOS ITPM Platform and applications are used by global 500 companies to gain visibility of and properly manage that risk. It delivers a holistic view of all of your IT assets, interdependencies, and cost allocations and becomes the single source of truth for CIOs, PMs, EAs, and more to manage the IT portfolio across the enterprise. For CIOs, The EOS ITPM Platform and applications deliver sustainable insights via a data-driven platform that has fast time-to-value, is simple to use, and easily integrates with existing single-purpose solutions. The EOS ITPM Platform’s aggregated, hierarchical portfolio, planning, and road mapping functions enable you to translate and align your business objectives to bimodal units of work. -
26
InQuisient
InQuisient
inquiring is the leading strategic enterprise planning platform, enabling large organizations to do more and go further with their data. With a comprehensive suite of powerful strategic planning tools and industry-leading metadata management built right in, the IQ platform offers total integration, incredible insight, and maximum impact to the modern enterprise. The patented InQuisient platform provides unparalleled data management capabilities and delivers it all through your existing knowledge workers. Build fully customized database solutions from scratch, or leverage a powerful suite of out-of-the-box tools, or anywhere in between. Deliver the power of your data to your organization rapidly and securely, all through an intuitive web browser interface. A smarter, more streamlined way of planning, changing, transforming, and managing is within reach. Experience the power of InQuisient’s PPM tools and platform to see why IQ is the trusted solution to deliver results for enterprises. -
27
StrategyDotZero
StrategyDotZero
StrategyDotZero is built on a framework that brings together planning, performance management, and governance through risk and capability management, to ensure that the enterprise is aligned at all levels. StrategyDotZero supports top-down planning and bottom-up reporting across the enterprise. It provides ways to use information from existing sources such as corporate documents, budget statements, project plans, finance tools, and HR systems to create powerful enterprise storyboards that act as single sources of truth for strategic decision-making. It builds and facilitates digital connections that empower leaders to bridge the gap between strategy and execution and transform into enterprise leaders. Improved transparency and alignment between activities being undertaken at all levels and the strategic risks and outcomes to be addressed at an enterprise level. Greater consistency at the enterprise level in business planning, status reporting, and performance measurement. -
28
Bee360
Bee360
Bee360 is our solution for an integrated and holistic management. Our platform brings a clear vision for information and technology management. All decision-relevant areas are integrated in a single source of truth. All information can be efficiently retrieved with a minimum of effort and complexity. Bee360 provides a holistic overview and connects different areas such as strategy, enterprise architecture, project and portfolio management, and financials. Connecting these areas enables our users to proactively design and transform organizations as all implications are visible, always. Our customers don’t justify – they execute. -
29
Shibumi
Shibumi
Shibumi’s Strategic Portfolio Management product empowers C-Level, PMO and IT leaders with a dynamic decision support system that provides the real-time information needed to make effective decisions that drive continuous realization of business benefits. Shibumi aligns execution to strategy using dynamic scenario planning and data driven insights that reduce organizational risk, increase agility, and maximize return on investment. Ultimately, Shibumi enables customers to achieve their roadmap of strategic business outcomes more consistently. Shibumi is a single source of truth with real-time visibility to all of your Programs, Projects, Products and Initiatives, with the ability to track both financial and non-financial benefits and optimize strategic portfolios for outcomes. Shibumi provides business leaders with the information they need to make informed, data-driven decisions such as which initiatives will drive the maximum business benefits.
Strategic Portfolio Management Software Guide
Strategic portfolio management software is a powerful tool used by organizations and businesses to manage their portfolios of assets, investments, and projects. It helps companies analyze, plan and implement strategies for achieving their strategic goals. This type of software offers a wide range of features and capabilities that allow businesses to manage their portfolio in an efficient, organized and effective manner.
The primary function of this type of software is to enable organizations to assess the performance of assets, investments and projects over time in order to identify opportunities for growth. By using strategic portfolio management software, businesses are able to make informed decisions about what new investments or projects should be made in order to maximize returns on existing ones. In addition, it can provide insight into where resources should be allocated in order to create the greatest return on investment (ROI).
Another key benefit offered by this type of software is its ability to provide visibility into how portfolio activities have performed in comparison with one another as well as against industry standards. This helps organizations better understand where they may need improvement or which investments are more likely to yield higher returns than others. The data-driven insights provided by these types of solutions also allow businesses to better forecast future performance so that they can adjust their strategies accordingly.
In addition, strategic portfolio management solutions often come equipped with reporting capabilities that enable users to measure the success of their strategies over time. These reports typically include metrics such as ROI analysis, variance analysis, resource utilization ratios and project status updates so that team members can easily track progress towards objectives and make quick adjustments when necessary.
Overall, strategic portfolio management software provides businesses with a comprehensive set of tools for effectively managing multiple assets across all departments within an organization in order ensure maximum return on investment for any given business strategy or goal.
Features of Strategic Portfolio Management Software
- Project Planning: Strategic portfolio management software can help organizations plan and manage their projects, from the initiation of ideas to project completion. This feature allows users to prioritize projects and allocate resources to ensure that the most important goals are achieved in the most efficient way.
- Budgeting: Strategic portfolio management software provides a comprehensive system for planning and managing budgets across multiple projects. This includes tracking expenses, forecasting future costs, and creating financial reports to help executives monitor progress and adjust strategies as needed.
- Resource Management: The resource management feature of strategic portfolio management software helps companies track available personnel, materials, facilities, and other resources to ensure that they are being used optimally across all projects. This helps minimize waste while maximizing efficiency by enabling teams to better identify which tasks require additional resources.
- Risk Mitigation: Strategic portfolio management software enables users to anticipate potential risks associated with each project and provides tools for mitigating those risks before they materialize. This gives execs an opportunity to be proactive about safeguarding against any issues that could derail success or increase costs.
- Collaboration Tools: By providing intuitive collaboration tools, strategic portfolio management software makes it easy for stakeholders across different departments or geographic locations to access important documents, share ideas, and track changes in real time without disrupting workflow or incurring large travel costs.
- Reporting & Analytics: Reports generated using data from strategic portfolio management software can give executives deeper insights into how their portfolios are performing over time relative to budgets and timelines so they can better make informed decisions about their investments. Additionally, analytics dashboards provide visual representations of this data so analysts can easily identify patterns or trends related to various KPIs
Types of Strategic Portfolio Management Software
- Portfolio Optimization Software: This type of software helps investors optimize their portfolio by finding the optimal mix of asset classes. It can identify which investments will provide the best returns while minimizing risk.
- Performance Measurement Software: This type of software is used to measure the performance of a portfolio and compare it against benchmarks and other portfolios. It allows investors to track how their investments are doing and make adjustments as needed.
- Risk Management Tools: These tools help investors understand and manage risks associated with their portfolio. They include features like stress testing, Monte Carlo simulations, VaR analysis, and more.
- Asset Allocation Solutions: These solutions help investors determine an appropriate allocation for their portfolio based on their risk appetite, goals, and constraints. They can also be used to rebalance portfolios as needed over time.
- Tax Planning Tools: These tools help investors optimize their gains or losses in order to minimize taxes paid on portfolios. They can also provide advice on tax implications when making investments or disposing of securities.
- Portfolio Management Platforms: These platforms allow users to manage multiple accounts from one dashboard, providing a single view of all holdings across all accounts in real-time. They also often include features like trade execution capabilities, automated notifications, mobile access, etc.
Advantages of Strategic Portfolio Management Software
- Efficient Decision Making: Strategic portfolio management software can provide executives with the necessary tools to make informed decisions about their portfolios. It allows for the analysis of real-time data, including financial information, trends, and competitive intelligence. This helps executives identify opportunities and problems quickly, allowing them to allocate funds efficiently and develop effective strategies.
- Improved Resource Allocation: By providing an up-to-date view of a company’s resources, strategic portfolio management software can help companies identify which investments should be prioritized and where resources should be allocated for maximum efficiency. The software also provides clear visibility into the status of projects across different areas, enabling companies to better assess project progress and success rates.
- Data Consolidation: Strategic portfolio management software makes it easier to manage multiple projects at once by consolidating all relevant data into one place. This eliminates the need to manually browse multiple sources in order to update projects or track progress. Instead, executives have access to clear and comprehensive insights that enable smarter decision-making when it comes to allocating resources across portfolios.
- Enhanced Collaboration: With strategic portfolio management software, teams are able to collaborate more easily on complex topics due to their ability to access shared data sets quickly and accurately. Through collaboration, teams can share ideas more effectively while gaining valuable insight from other stakeholders that might not otherwise be available without such a platform.
- Risk Management: Strategic portfolio management software gives companies greater oversight when it comes to identifying and managing risks associated with various investments or products within a portfolio. The platform is designed specifically for this purpose so that any changes in opportunity or market conditions can be monitored and reacted accordingly before they become costly issues down the line.
Types of Users that Use Strategic Portfolio Management Software
- IT Professionals: Those who work in information technology (IT) and use the software to optimize performance, manage projects, and increase efficiency.
- Financial Professionals: Those who analyze financial data and use portfolio management software to make informed decisions about investments.
- Project Managers: Those responsible for overseeing complex projects and ensuring that resources are used efficiently. They can benefit from portfolio software to keep track of tasks and resources.
- Business Analysts: Those who review strategic business plans and help organizations implement them effectively. Portfolio management tools assist them in monitoring their progress.
- Risk Managers: These professionals identify, measure, monitor, and control risks throughout the different levels of an organization’s operations. Portfolio management software can provide visibility into risk exposure.
- Legal Teams: Lawyers responsible for analyzing corporate legal documents frequently turn to portfolio software as a means of managing information more efficiently.
- Marketers: Those responsible for developing marketing strategies can benefit from portfolio management tools that track project progress, performance metrics, and key stakeholders involved in the process.
- Human Resources Teams: Responsible for keeping track of employee performance reviews, hiring plans, onboarding initiatives, etc., HR teams often rely on portfolio management tools to streamline data collection processes and better support their teams.
How Much Does Strategic Portfolio Management Software Cost?
The cost of strategic portfolio management software can vary greatly depending on the features and functionality you require. For basic services, such as tracking, monitoring and reporting on project portfolios, the cost can range from a few hundred to several thousand dollars per month. If you need more advanced capabilities like risk analysis or analytics-driven decision making support, you may pay anywhere from five to twenty thousand dollars per month or more.
It is important to consider all your needs when selecting a strategic portfolio management software vendor. Make sure you understand what features are offered and if there are additional costs associated with them. Ask potential vendors about their pricing tiers and how they could accommodate your specific requirements. Additionally, inquire about support offered with each package as well as training options for getting staff up to speed quickly with the new system. Finally, be sure to ask whether any discounts are available for long-term contracts so that you can get the most value out of your investment in strategic portfolio management software.
Strategic Portfolio Management Software Integrations
Strategic portfolio management software is designed to help organizations make decisions about the allocation of resources and to identify potential investments based on strategic objectives. This type of software can integrate with a variety of other types of software, including financial planning software, project management software, data visualization tools, and analytics packages. Financial planning software helps organizations track budgeting and finances, while project management and data visualization tools help teams stay organized and provide insights into resource usage. Analytics packages allow for greater analysis of the data used in strategic portfolio management. In addition, many organizations opt to integrate their portfolio management software with CRM (customer relationship management) systems in order to keep track of customer interactions and preferences.
Trends Related to Strategic Portfolio Management Software
- Increased Integration: Strategic portfolio management software is increasingly becoming integrated with other enterprise software solutions, such as financial, project, and resource management solutions. This integration allows for real-time data sharing and analysis, which leads to more accurate decision making.
- Streamlined Planning Process: Strategic portfolio management software is now providing better ways to streamline the planning process. This includes improved visualization capabilities and automated processes that reduce the amount of manual effort required by stakeholders.
- Improved Collaboration: Strategic portfolio management software helps organizations to better collaborate across departments and teams on projects. This helps organizations to make faster decisions and to execute projects more efficiently.
- Flexible Reporting Capabilities: Strategic portfolio management software provides flexible reporting capabilities that help organizations gain insights into their portfolios and make more informed decisions. Reports can be customized according to individual needs, allowing stakeholders to easily access relevant data in the format they need it in.
- Automated Workflows: Strategic portfolio management software now offers automated workflows that enable teams to manage tasks and ensure that deadlines are met. This helps organizations keep their projects on track and reduces the risk of delays or costly mistakes.
How to Choose the Right Strategic Portfolio Management Software
Compare strategic portfolio management software according to cost, capabilities, integrations, user feedback, and more using the resources available on this page.
- Start by evaluating the scope and objectives of your project. Determine what activities will need to be tracked, such as resource allocation and cost estimation, risk management, business intelligence analytics, or reporting capabilities. This research will help you narrow down which software platforms offer the necessary features and tools required for your specific use case.
- Consider scalability when making a decision. It's important to select a platform that can grow with your organization and scale up as you add new projects or programs over time. Ensure that the platform offers features like custom fields, user roles/permissions, collaboration tools, integration with existing systems, etc., in order to meet future needs.
- Analyze the user interface (UI) and user experience (UX). Strategic portfolio management software should be simple-to-use yet comprehensive enough to fulfill all of your organizational needs without sacrificing functionality. When evaluating different solutions make sure they have an intuitive UI/UX design as well as dashboard customization capabilities so you can get a holistic view of your current projects at any given time.
- Research customer reviews and case studies from organizations using similar products within the same industry sector as yours in order to gain more insights into how it may work best for you once implemented within your own organization setups.
- Finally, when it comes to budgeting always ensure that all associated costs are taken into account such as onboarding & training costs and system maintenance & support fees before making any commitments