Found our list of Product Management Software helpful? We’re here to help you make the right choice and automate your business processes. Let’s discover some of the essential factors that you must consider to make a smarter decision!
Buyers Guide Content
Launching a new product is a daunting task. It would be helpful to have a tool that helps you set up the product roadmaps, design prototypes, share action plans with stakeholders, review user behaviour and delight your customers. Adding product management software to your repertoire helps your team deliver top-notch products regularly.
Product management tool are software that are used to help manage product development. This can include product roadmap creation and management, requirements gathering, collaboration tools for cross-functional teams, and tools for tracking product performance and customer feedback.
The software is designed to help product managers and other team members streamline the product development process, improve communication, and make data-driven decisions.
Product management tools and techniques are methods and tools used by product managers to plan, develop, and market products effectively. Some common tools and techniques used in product management include:
Product managers use software to develop and improve products in a quick & efficient manner. It enables the team to work on new ideas, get user feedback, test product performance, improve current products & features and execute plans. Although the product team mainly uses the product management software, it also provides useful insights for sales and marketing teams.
Tools used for product management also help the development team in agile workflows, resource allocations, sprint planning, user testing, managing product portfolio and bug tracking. Moreover, some software offers collaboration features such as comment or chat threads.
Let's look at some more important benefits of product management software.
Product development software helps get multiple teams' collective feedback, including coding, user research, marketing, engineering, testing, and more. Team managers find it beneficial because they can seamlessly organise tasks and assign them to various team members.
They also get to prioritise work to ensure hassle-free product development, check on the progress, and make modifications as per requirement. In addition, team managers and other departments can reap the benefits of using product management software to create & assign work, track progress and create reports for stakeholders.
Product management software helps analyse product performance, collect innovative ideas, get user feedback, execute new plans, and improve software products and their features.
Product managers can prioritise the most important tasks or continuously track their team's progress by leveraging the comprehensive features of the software solution. The software also helps to manage product portfolios, allocate resources, do bug testing, sprint planning, and user testing. Some advanced versions also offer chat or comment features to ensure better collaboration.
There are many key features that make a product management software essential for all organisations.
Product management software adds a lot of value to the product development lifecycle. Here are some of its key benefits:
Here is a list of some Product Management Tools that can help you take your business to greater heights.
A product management software can help a team in several ways:
Key points to keep in mind while choosing product management tools:
1. Evaluate your team's requirements
The best way to find out about the needs of your product management team is to create a list of questions. Then you can use them as reference points to evaluate different functional areas and outline requirements. For example, the list should contain the following questions:
2. Create a well-defined product strategy
Before acquiring a product management tool, the first and foremost thing you should do is define a clear product strategy because, with the direction, it'd be easier to determine the right fit for your organisation. To define a strategy, you should find out about your company's main objectives, product features, and goals.
List out the goals you want to achieve in the next few years and what purpose you want to fulfil with your product. All these questions will help you simplify things and decide which tool to choose.
Search for various product options
The next step on the list is meticulous research on different software options. It'll give you a better understanding of each product's functionalities, features, benefits, and drawbacks. You can check the company's website, read reviews on different platforms, or watch demos. Further, online comparison charts will also help in comparing different options with each other.
3. Look for useful features:
Small companies usually don't need that many functionalities, while on the other hand, large organisations may require a wide range of useful features in a product management tool. Therefore, when you search for software, ensure its features fit your organisation's requirements. Moreover, you can also do a thorough compatibility check with your company's current needs.
4. Keep your budget in mind:
Every company has a budget in mind when searching for a product management tool. It becomes more critical when you are a smaller organisation or a start-up. The best product management software might be expensive, and you may also have to pay monthly fees. Hence, it becomes imperative that you never exceed your budget and buys a tool that ticks all the right boxes.
5. Don't hesitate to ask for suggestions:
If you are confused or don't have enough time to do the research, you shouldn't be afraid to ask for suggestions or help from seniors, colleagues, or friends. It is important because one bad decision can cause a lot of repercussions for your team and organisation. Hence, it would be wise to take help from others. Moreover, numerous communities on social media channels can help you out.
Here is the list of best product management software for Business .
|Top 10 Product Management Software|
|Top Product Management Tools||Price|
|Clickup||Price On Request|
|Productboard||Price On Request|
|ProductPlan||Price On Request|
|Craft||Price On Request|
|Prodpad||Price On Request|
|Aha Product Management Software||Price On Request|
There are several challenges that organisations may face when implementing product management software. Some of the biggest challenges with product management software tools include:
It is important to have a well-defined use case and clear objectives during the selection and implementation of any product management software to mitigate these challenges.
There are several challenges organisations may face as stated above when implementing product management software online, but with proper planning and execution, they can be overcome to ensure a smooth implementation. Some ways to ensure a smooth implementation include:
By following these best practices, organisations can mitigate the potential challenges and ensure a smooth implementation of product management software.
Author: Kalpana Arya
(Showing 1 - 19 of 19 products)
Product management tools are software platforms that help product managers - plan, develop and launch products. These tools helps in various workflows like creating & setting strategies, sharing plans, analysing user behaviour, gathering data, and creating prototypes.
Product managers typically use a variety of tools to help them manage the product development process, which includes product management software, project management tools, CRM software, data analytics and visualization tools, communication and collaboration tools, market research tools, design and prototyping tools and software development tools.
Product management software provides a centralized platform for managing all aspects of the product development process like product roadmapping, prioritization and backlog management, customer feedback, performance analytics, cross-functional collaboration, market research and product releases.
Aha!, Asana, Trello and Jira are some of the most popular PM software.
Last Updated on : 28 Jan, 2023
Product management software tools allow product teams to manage all phases of the product development lifecycle. This includes planning, research, developing, testing, launching, assessing and iterating. Product management tools are used for better analytics tracking, communication and road mapping.
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Choose the best product management tool that meets your specific needs, provides value to your team, and is easy to use. You can also consider a tool that helps your team work more efficiently and effectively, and better manage your product development process.
Product management software typically provides tools for creating visual product roadmaps and timelines, and for assigning tasks and milestones to team members. These tools allow product managers to easily share the roadmap with stakeholders and track progress over time.
Yes, many product management software include functionality for gathering, tracking and implementing customer feedback into the product development process. Some platforms provide feedback forms and surveys, others include integrations with popular feedback collection tools.
Product management software often includes project management, task tracking and communication tools that help product managers collaborate with cross-functional teams such as engineering, design and sales. These tools can help ensure that all team members are aware of product development progress, timelines and key milestones.
Product management software provides tools to plan, organize, and manage product releases. Release management functionality allows product managers to schedule and coordinate all the necessary tasks, such as product testing, bug fixing, and release notes. Moreover, some product management software allow creating release approvals workflows and even deploy the releases to the end-users.
No, product management software can be used for any type of product, including physical goods, services, and digital products. The software provides a framework for managing all aspects of product development and commercialization, regardless of the product type.
Many modern product management software are designed to be user-friendly, and do not require extensive training. However, some may have more complex features and thus, some training or guidance may be needed to get the full benefit of the software.
Many product management software offer integrations with other tools, such as customer relationship management (CRM) software, project management software, and communication tools. These integrations can help streamline workflows and improve collaboration between different teams.
Some product management software offer customization options, such as the ability to create custom fields, workflows, and reports. Additionally, many software providers offer custom development services to implement specific features that are not included in the standard product.
The cost of product management software can vary greatly depending on the specific software and its features. Some software is available on a subscription basis, and costs can range from a few hundred to several thousand dollars per year. Others are based on usage and can be per user, per project or per feature. It is important to evaluate the needs of the organization and choose a software that meets those needs and fits the budget.