Transcript:
When considering the best portfolio management software, several key areas come into play. Portfolio management for organizations is similar to managing personal finances — like tracking stocks, bonds, or mutual funds — but at the enterprise level. Companies need software that helps them understand where their investments are going and how they’re being executed, since many investments take the form of projects or initiatives.
Truly effective portfolio management software should include capabilities for project management, traditional portfolio management (grouping projects for executive oversight), resource management, financial management, and workflow/process management to track progress through defined steps. These features support a comprehensive view of corporate investments.
Project management is often where organizations begin, especially for capital projects. Governance is applied to ensure investments follow approval processes and meet objectives. However, a common challenge is that project managers may resist added reporting tasks.
The best portfolio management solutions reduce that friction by making it easy for project managers to supply required information. This supports investment governance, which is critical for shareholder reporting, stakeholder visibility, and ensuring that funding is used as expected.
Ultimately, portfolio management software helps organizations determine whether they’re achieving the desired return on investment — in both labor and non-labor costs. Personally, I’m partial to Clarity from Broadcom, which supports all of these needs and continues to innovate with capabilities like agile development, governance, and agile capitalization.
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