Why is studio project management software so essential?

Project management is an essential part of doing business and achieving organizational goals. Leaders must make clear decisions about how certain project components will contribute to an overall vision and reach completion. To improve the chances of a great final product, it’s important to implement project management tools. If you run your own studio, finding the right studio project management software is critical to the success of your business.

Most studio owners aren’t trying to incur any more expenses than necessary. The bulk of investment is usually in staff payroll, technology, equipment, and any other essentials to production. However, studio project management software can provide valuable benefits, like equipment tracking, media asset management, budgeting, decision making clarity, and other relevant digital tools. A good studio project management tool should provide a significant ROI, easily exceeding its cost.

As the developer behind Studio Suite, we are always assessing and discussing the growing needs of our clients who are running busy studios. Upon initial evaluations, it’s evident that information-sharing processes and operational efficiency is lacking, and the appropriate tools are not being utilized. In fact, studies show that organizations waste up to 12% of their resources because of inefficient project management. When project leaders implement the right tools, this kind of waste can easily be tracked and reduced.

Let’s take a look at some of the other benefits of studio project management software and how it can help you achieve the results you’re looking for.

Information sharing is easier than ever.

Unfortunately, 35% of project managers use MS Excel or other similar spreadsheet applications to build resource plans, which can often result in overlap and undesirable changes to a shared document. If you want to use information efficiently during a project, you need to collaborate in a way that allows each team member to contribute where appropriate and be held accountable for their portion of the work.

It is critical for each collaborator to receive only the information they require: this way, they will not be sidetracked by what is unnecessary to them!

Using Studio Suite – the best software for studios producing and delivering content – you can easily get an overview of your projects and can arrange and assign duties in advance! Your dashboard allows you to see the progress of a project or production at a glance, making studio resource management a breeze.

Task handling and equipment management are no longer a hassle.

Studio project management software allows you to divvy up projects into various tasks that you can assign to different people as needed. You can assign expected time durations for each activity and monitor the progress to see if your estimate was right or not. If progress falls short somewhere it’s easy to pinpoint where it went wrong, thereby making it easier to fix and get back on track.

Some projects will have larger and more involved components. For these projects, it’s helpful to indicate which tasks depend on each other. With equipment management you’ll be able to effectively allocate resources where they’re needed and make sure all the requirements are hit for each step of your project.

Equipment tracking is always up-to-date.

With up to 43% of small businesses failing to track assets and inventory effectively, equipment tracking software isn’t an option, it’s a necessity.

Your company, like your equipment, is one-of-a-kind and you need asset management that reflects that. With software that can track anything and is customizable to how you handle your equipment, you’ll get improved equipment management and better business performance.

With the right software, running a studio can be easy.

With several project management solution options on the market, you might not know where to begin. Studio Suite is software made especially for creatives, with advanced features that will help you manage media projects more effectively. You can check out more features here or schedule a custom walkthrough with our team here.

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