The ability to stay ahead in a competitive market can be difficult, especially if you enter a saturated market. However, offering optimized and innovative products can be helpful in obtaining a competitive advantage.
Then, investing in improving and making product management processes more effective might help. These days, there is a wide range of tools and software that can help you save money, work more efficiently, and deliver better products.
Read on if this sounds interesting to you. This article will provide you with the top five product management tools to make your process easier. Let’s get right to it.
What is Product Management?
Product management refers to the set of processes that pertain to every step of a product’s lifecycle, beginning with development and ending with pricing and positioning.
As a result of these processes, you deliver better-designed and better-performing products to the market, which contributes to building a customer-focused company.
Benefits of using Product Management Tools
A product management tool can bring many benefits to your business, and they’re not just related to savings.
Here are some of the most relevant.
1. Reduce the Risk of Product Failure
A better distribution of work and projects and their completion within deadlines reduces the risk of product failure. The benefits of having a product management tool are that they enable you to create roadmaps, make them visible to your employees, and let them track and show their progress.
2. Better Collaboration
Product management tools facilitate collaboration with real-time collaboration and easy task management. So, you can manage projects, let your team members edit them, and work on them simultaneously. This will provide each worker with a clear understanding of their responsibilities.
3. Effective Task Delegation
In many situations, product managers have difficulty assigning tasks fairly to team members, which can negatively affect the team’s efficiency. With a project management program, managers can easily assign project tasks to members and see who is available for the task at hand.
4. Enhanced Productivity
Product management tools offer the benefit of enhanced productivity as one of their main advantages. Having the ability to assign tasks efficiently, monitor their progress, and work in real-time makes the workflow clearer to everyone and increases productivity.
5. Easy Integration of New Team Members
As the workload increases, it may become necessary to hire and involve a new team member. Integrating new members can be challenging at times, and it takes time for them to understand the projects, the tasks, and so on.
Instead, product management software enables new members to have a clear view of the project, progresses, and details, and makes them able to start working on it more rapidly.
Best 5 Product Management Tools
This section provides a list of product management tools that can help boost efficiency and save time and money. Let’s explore them.
Maze is an online usability testing tool. It lets you test prototypes with users or gather insights through surveys, card sorting, and more.
It has an intuitive interface and is compatible with popular design platforms, such as Figma and Adobe XD. It allows you to share with users surveys and usability tests in a few minutes with a URL.
Then, you’ll be able to watch the test results in real-time and instantly transform them into quantitative data and let you generate insightful reports. Further, it enables collaboration across the board and allows everyone to source and access insights that optimize customer-facing experiences and propel design-led businesses.
Monday is an online platform that lets you integrate all the product management tools you use into one place. By letting you choose and use over 200 pre-designed and ready-made templates, you can create your favorite workflow within minutes. You and your staff can use it right away with no training needed since the interface is very intuitive.
It also lets you convert all the data into attractive charts and track projects efficiently to ensure deadlines are met. In addition to this, it facilitates real-time effective collaboration among your team; your employees will be able to update the tool quickly and easily, as well as import and export data.
Airfocus is a product management platform that lets you and your employees build dynamic and strategic roadmaps with ease. Anyone, even those without experience, can design effective roadmaps using its intuitive drag-and-drop interface.
It helps to transform decision-making into a transparent, collaborative process and to create clear priorities based on your outcomes. Moreover, you can centralize feedback from email, chat, support, and other channels, to come up with actionable insights.
Jira Software is a product management tool that helps teams of all types manage work. Jira was originally designed as a bug and issue tracker. Now, Jira has evolved into a versatile work management tool that can handle all sorts of work, including requirements management and testing.
It makes it easy for you to create and distribute tasks across your team and keep track of them in full context with complete visibility. Also, you can associate each roadmap that you create with a specific project, and let employees track and share progress for their assigned roadmaps.
Jira Software also allows you to integrate the most popular tools that you might already use, such as Trello, and automate your workflow in a few clicks.
As yet another excellent product management tool, ProdPad provides product managers with an easy-to-use way to develop a solid product strategy. Using a drag-and-drop tool, you can create a lean product roadmap and communicate and define your product strategy without getting stuck in the build process.
As well as keeping track of your customers’ feedback, you can gather all the feedback from different channels in one place. Based on this feedback, you can then develop new product ideas and improvements. Moreover, ProdPad integrates with over 1000 apps and platforms, including the best integrations for tools like Slack and AzureDevops.
Product management can take time and effort. However, using the right product management tools, such as those outlined in this article, can help you more easily organize, distribute, and track the work, making sure you correctly follow all steps and within the deadlines.
I appreciate you taking the time to read this article. Hopefully, it was insightful and relevant to you. Check out this article about how to handle product feedback for more information about effective product management.