Project Return

TouchBase Project Management Software and Tools – Comprehensive Online Solution

November 26th , 2020

Circa 1997.

My first exposure to a desktop project management software for a special project. The interface left me highly impressed and I thought I was doing ‘something very different.’ I could not imagine something called Online Project Management Software then.

Fast forward to 2021.

Age of a global project economy.

Businesses have been ‘projectized’ - most of the work are run as projects with a disciplined focus on scope, quality, schedule, cost, business value, and customer satisfaction. With the growth of the project economy, the demand for project portfolio management software (PPM Software) is estimated at USD 5.6Billion by 2025. (Source: www.marketsandmarkets.com )

Here is an outline of this blog.

  1. The Projects Landscape Transformation
  2. The Evolution of Project Management Software
  3. What do most of the Project Portfolio Management Software focus on?
  4. How should leaders approach while collaborating with Online Project Management Software Company?
  5. What is the design strategy of TouchBase Online Project Management Software?
  6. TouchBase Core Solutions
  7. What are TouchBase Online Project Management Software capabilities?
  8. What are the key differentiators of TouchBase Online Project Management Software?
  9. How does TouchBase Online Project Management Software impact customer’s business?
  10. What is the mission of TouchBase Online Project Management Software?
  11. An excellent software needs a flawless execution!
  12. TouchBase Modules
  13. Closing Comments

1. The Projects Landscape Transformation

The nature, complexity, and size of projects underwent a sea change – a quick comparison is reflected in the table below.

Projects Pre-2000Projects 2000-2020 & Beyond
  • Reasonably clear scope
  • High levels of project certainty
  • Local projects
  • Collocated project teams
  • Significant advancements in technology
  • Outsourcing and global delivery models
  • Multi-million-dollar projects
  • Increased Complexity
  • Higher levels of uncertainty


2. The Evolution of Project Management Software 

The evolution of project management software has happened in two broad ways.

  • Desktop to Online and to Cloud Project Management Software
  • Schedule (Gantt Charts) and Resources to an End-to-End Solution
  • It is important to note that these two shifts have not been sequential, rather in parallel.

3. What do most of the Project Portfolio Management Software tools focus on?

Unfortunately, even today, most Web-Based PM Solution do not focus on a holistic solution to manage projects and have led to key business challenges.

  • Not appreciating the diversity of projects across industries – professional services, pharma, FMCG, etc.
  • Focus on features, and functionalities rather than ‘solutions’ to ‘project management problems.’
  • Restricting PPM Software to scope, schedule, resources, costs, with a dash of documentation, collaboration, dashboards, and reports – dubbed as ‘analytics.’
  • Failing to recognize the importance of integrating projects with engineering, procurement, finance, product development, and organizational business processes.



4. How should leaders approach investments in any Online Project Management Software? 

When business leaders think of collaborating with a project management software company (for that matter buying any product or service), we believe that the decision-making approach should address the following dimensions.

  • What is the software/product design strategy?
  • What are the capabilities (features and functionalities) of the software?
  • What are the key differentiators of the software?
  • How does the software / product impact the customer’s business?
  • What is the mission (behind the software) of the software provider?

Let us review each of them in detail. 

5. What is the design strategy of TouchBase Online Project Management Software?

Armed with deep and diverse experiences, the management team at ProductDossier unearthed critical insights about projects and programs. 

Project Management Insight # 1

Project Management Insight # 2
Projects generally fall under three broad categoriesUniqueness of projects stems from - 
  • External Customer-Oriented: These projects go through a cycle of creating proposals, cost estimation & margin calculations, contracting, project scheduling, cost estimations, resource allocation, procurement planning, tracking deliverables, billing invoices, managing risks, project documentation, customer acceptance and closure.
  • New Product Development (NPD): While the process is specific to products (pharma, FMCG, etc.), in general, these projects involve new idea evaluation, manufacturing feasibility, competitor analysis, benchmarking, business case creation, funding approved ideas, project team formation, procurement planning, formulations, trials, developing prototypes, updating business cases, finalizing the product launch, and tracking actual revenues vs. forecast.
  • Internal Initiatives: These projects go through business case creation and evaluation, capital expenditure funding, defining scope and schedule, resource planning & allocation, cost estimation & budgeting, tracking deliverables & costs, project delivery, and closure.

6. What is TouchBase Online Project Management Software?


At a high-level TouchBase IS:



7. What are the key differentiators of TouchBase Online Project Management Software?

There are many features and functionalities that are available in most Project Management Tools and even Task Management Software – they are now considered a hygiene factor. In this background, it is vital that we review the USPs or Key Differentiators of TouchBase Project Management Tool.

Key Differentiator # 1: TouchBase is specifically configured for:

  • Your industry
  • Your project-type
  • Your project approach – predictive, agile, hybrid, etc.
  • Your business processes (business process automation), workflows, templates, checklists, documentation, metrics, and dashboards



Key Differentiator # 2: In addition to scope, schedule, and resources (some even say it as project scheduling and costing), TouchBase is an end-to-solution that addresses: 

  • Financials
  • Supply Chain Management
  • Skills & Competencies
  • Business Process Automation
  • Engineering & CAD
  • New Product Idea Evaluation
  • Quality & Defects
  • Knowledge Management
  • Business Cases
  • New Product Development
  • Audits
  • Risks & Issues
  • Inquiry & Proposals
  • Master Data Mgt.
  • Asset Mgt.
  • Documentation 
  • Employee Self-Service
  • Mobile Access
  • Social Collaboration

Key Differentiator # 3: Seamless Integration with other Enterprise Applications (or Enterprise Integration)

  • ERPs – SAP, Oracle
  • CRMs – Salesforce, Microsoft Dynamics
  • Accounting – QuickBooks, Tally
  • Engineering – AutoCAD
  • HRMS – SAP, Oracle, Others.


Key Differentiator # 4: Minimal Customization

About 95% of customer needs are configurable in TouchBase leaving with a less than 5% for customization. This leads to faster deployment, lesser customization costs, and quicker value realization.

Key Differentiator # 5: Digitized Project Landscape

TouchBase completely digitizes the entire project and portfolio management practice and thereby sets the stage for ‘one version of truth’ that drives data-driven decision-making.


8. TouchBase Core Solutions

TouchBase is designed as three core solutions that are aligned with the nature of the project as well as the industry as depicted in the graphic below.

Let us get a deeper understanding of TouchBase Core Solutions.

TouchBase Opportunity-to-Cash (O2C) Capabilities

O2C PhaseTouchBase Capabilities
Pre-Sales
  • Lead generation and lead qualification
  • Customer inquiry
  • Customer proposals
  • Purchase Order (PO) / Contract Creation – Fixed Price, T&M, Cost-Plus
  • Associate Multiple POs to One Project or One PO to Multiple Projects
Project Initiation
  • Revenue Plan
  • Develop Budgets (Resources, Materials, Overheads)
  • Financial Milestones
  • Cash Flow Analysis
  • Resource Requests
Project Planning
  • Work Breakdown Structure
  • Schedule, Milestones, Critical Path Analysis, and Schedule Baseline
  • Project Management Approaches: Traditional, Agile, Fixed Bid, Ticket-Based
  • Resource Allocation & Utilization
  • Quality Metrics & Defects
  • Knowledge Management
  • Procurement
  • Risk Identification, Risk Assessment, and Response Plans
  • Meetings & Minutes
Project Execution
  • Technical Reviews & Defects
  • Baseline Revisions & Comparison
  • Project Progress
  • Comprehensive Documentation
  • Vendor Payments, Customer Receipts, Timesheets & Expenses
  • Dashboards & Forecasts
  • Predictive Analytics, Alerts & Notifications
  • Team Collaboration
  • Regulatory Compliance
Project Closure
  • Acceptance Documentation
  • Customer Invoicing
  • Lessons Learned
  • Project Archival
  • Customer Satisfaction



TouchBase Idea-to-Launch (I2L) Capabilities

I2L Phase 

TouchBase Capabilities
Idea Capture
  • Streamlined New Ideas Gathering
  • Create & Manage Idea Funnel
Idea Evaluation
  • Define Evaluation Parameters
  • Technical Feasibility
  • Forecast Revenue and Develop Budgets
  • Prepare Business Case
  • Cross-Functional Team Feedback
  • Benchmarking and Competitor Analysis
  • Approve Ideas
Development Planning
  • Product Planning
  • Project Set-Up
  • Project Management Approaches: Traditional, Agile
  • Work Breakdown Structure
  • Schedule, Milestones, Critical Path Analysis, and Schedule Baseline
  • Resource Allocation & Utilization
  • Procurement
  • Risk Identification, Risk Assessment, and Response Plans
  • Meetings & Minutes
Execution & Control
  • Product Performance
  • Baseline Revisions & Comparison
  • Project Progress
  • Comprehensive Documentation
  • Dossiers (for Pharma)
  • Financials, Timesheets & Expenses
  • Dashboards & Forecasts
  • Predictive Analytics, Alerts & Notifications
  • Team Collaboration






TouchBase Request-to-Completion (R2C) Capabilities

R2C Phase 

TouchBase Capabilities
Capture Requests
  • Streamlined Requests
  • Templatize Request Creation
  • Create & Manage Request
Evaluate Requests (Projects & Programs)
  • Define Evaluation Parameters
  • Forecast Benefits
  • Analyze Cost Budget
  • Develop Business Case
  • Evaluate & Approve Requests
Program / Project Planning
  • Program / Project Set-Up
  • Project Set-Up
  • Project Management Approaches: Traditional, Agile
  • Work Breakdown Structure
  • Schedule, Milestones, Critical Path Analysis, and Schedule Baseline
  • Resource Allocation & Utilization
  • Risk Identification, Risk Assessment, and Response Plans
  • Meetings & Minutes
Execution, Control, & Close
  • Program / Project Deliverables
  • Monitor Program / Project Progress
  • Comprehensive Documentation
  • Planned vs. Actuals: Benefits & Costs
  • Dashboards & Analytics
  • Benefits Realization
  • Lessons Learned
  • Predictive Analytics, Alerts & Notifications
  • Team Collaboration

9. How does TouchBase Online Project Management Software impact customer’s business?

Strangely, customers get lured by features and functionalities of software!

Features are important; however, more than just the features, business leaders must focus on what the software delivers. Customers no longer buy product features, they are buying ‘value’!


Elements of Value

Source: https://media.bain.com/elements-of-value/ 


TouchBase DELIVERS:

  • A digitized project management landscape
  • A single version of truth
  • Data-driven decisions to add business value