Mergers & Acquisitions Advisory

A Neumann & Associates, LLC

February 17, 2016

Project management software: a worthwhile investment

By Achim Neumann

As a company grows, it takes on projects of increasing complexity. With multiple employees and external contractors added to the mix, it can be very
difficult to effectively track work flow without purchasing project management software.

Why is this a worthwhile investment? Below, we will discuss the benefits of implementing this useful tool…

640px-Coding_Shots_Annual_Plan_high_res-5
It helps managers stay organized

Even simple projects can go off the rails if its constituent parts haven’t been organized in an easy to understand manner.

With project management software, managers can see what needs to be done before other team members can execute on their responsibilities, making it clear what they have to focus on in the moment. The best applications will tell the manager who needs to be assigned to complete a specific task, and the estimated amount of time for its completion.

Activities that waste time can be streamlined or eliminated

The ability to use time efficiently and effectively is key to any project’s success. Project management software allows managers to track time spent on
various tasks, the results of which can then be analyzed to identify bottlenecks.

Whether instructions are unclear, or legacy processes are wasting effort, actions can be taken to ensure work is moving along at an acceptable pace.

Sharing documents and cross-team collaboration will become much easier

One of the biggest innovations in project management software in recent years has been the addition of a central space within these programs for the
sharing of work documents. This way, excessive e-mailing can be avoided, increasing overall productivity. Additionally, some programs have chat functionality, which permits multiple team members to discuss problems related to the project instead of wasting time
walking across the office to meet with each other.

Employees will use their time more efficiently

Of all the challenges that managers deal with, ensuring that their employees are staying on task is perhaps the greatest one. Any decent project management software suite will track the amount of time that team members are spending on their assigned tasks. If one of them is taking longer than expected, it allows the project manager to check in with the employee in question.

Whether it is a lack of understanding regarding a specific element of their assignment, or misplaced priorities, corrective action can be taken so that the team member uses their time in an efficient manner going forward.

Using a Project Management Software Can Become An Asset When Buying a Business or Selling a Business

Often, before a business is ready to be sold or bought, there is an extended period of time that owners/managers must prepare the business to be
transitioned to new owners. This includes creating an inventory of assets, defining processes, etc. Using a project management software can actually add value to your business valuation as it greatly eases a business’ transition. Someone can easily be taught how to use any major project management software and it will standardize your processes/logistics. A project management software can also include all current projects, important documents, client info, etc. in one neat and tidy package.

About A Neumann & Associates, LLC

A Neumann & Associates, LLC is a professional mergers & acquisitions and business brokerage firm having assisted business owners and buyers in the business valuation and business transfer process through its affiliations for the past 30 years. With an A+ Better Business Bureau rating, the company has senior trusted professionals with a deep knowledge based in multiple field offices along the East Coast and has performed hundreds of business valuations in its history. The firm’s competitive transaction fees are based on successfully completing transactions. For more information, please contact A Neumann & Associates at 732-872-6777 or info@neumannassociates.com

Comments are closed.

Any questions? Please contact us at 732-872-6777
Call Now

Client Testimonials

“I've always had great respect for those who are excellent in their fields of endeavor. Gary certainly lived up to that standard. He was knowledgeable, persuasive, determined and ultimately the main driving force that culminated in the very successful sale of my business. Well done Gary!”

Stuart Zeiff, Seller

“ I appreciate your diligent approach to screening buyers and sellers as well as the high quality CIM that you produce.”

Andrey O, Investor

“Finally enjoying retirement after recently selling my business using the services of A Neumann & Associates. Joe Oddo provided the conduit to a successful transaction. Joe knew when to inject input and when to simply listen and allow the buyers to vent, step back and regroup. The outcome met our expectations and got us to the finish line, which included my staying with the company six months in order for the buyers to get their footing and keep our workforce in the loop. He helped at every step by providing his expert guidance & resources. Thank you!”

Emily Parker Myers, Co-Owner - Myers McRae

“I had been in touch with Karin and Gary from A Neumann & Associates regarding some opportunities and was looking forward to meeting with them. Hence, when they organized a seminar in Princeton, NJ, I was quick to sign up. The seminar was very informative as the team walked the attendees through various scenarios and referenced real life buying/selling situations they had been through. The sessions by Gary, Karin and Achim were crisp and focused and brought clarity to potential seller and buyers. I strongly recommend the team and look forward to continue working with them.”

Gaurav Tyagi

“Thank you for your Event on "How to value, Sell, and Buy A Business for Maximum Profit" and the insight into ANA’s approach on what is involved in the Business Exit for sellers. Garys Hervieiou's "Business Valuation", Achim's "Deal structure" presentation and Karin’s "Preparing the Package" are real street knowledge shared. They answered attendees questions which makes it more interesting for learning from others. Great for small businesses like us. The presentations were totally worth our time and travel for the event to Princeton, NJ from Rockville MD. Ravi Bhutani, President, CIPS”

Ravi Bhutani

“Gary, this is to thank you for an excellent job done in selling our business. We could never have done it without your professional expertise, dedication and time put in without reservation to make it happen. We will gladly and highly recommend you to anybody in our position.  It was a pleasure to work with you.”

Pat Iammatteo, Owner

“Your vetting is simply outstanding, among the best I've seen from a broker.”

Eric H., Investor

“I recently contacted A. Neumann and Associates about getting a valuation of my business done. I spoke with Marc, who explained the process in detail. After meeting with Marc in order to get a clear understanding of my business, and what I was hoping to accomplish. His patience in answering all my questions and his knowledge of the proper way to market my business gave me great confidence that this is the firm I will be using to sell my business for max value. Working with Marc at A Neumann & Associates was very easy and professional. I did not know all that was going to be involved in selling my business but they helped me through the process. What I thought was going to be a just another one of those pushy sales companies was just the opposite. Polite, knowledgeable, and a pleasure to talk to and deal with. I highly recommend this firm to anybody who wants to sell now or down the road. Marc not only knows his stuff, but actually is a real nice guy.”

Double Diamond

“Used A Neumann & Associates to sale my business. could not imagine having done it with out the patience and experience Gary provided. Thanks Gary,”

Dennis Frazier

“Working with Marc and his company was a pleasure. What I thought was going to be a just another one of those pushy sales companies was just the opposite. Polite, knowledgeable, and a pleasure to talk to and deal with. Marc handled most of the interaction and he has one of the greatest demeanors. Again, it was a pleasure working with him and his firm.”

Douglas DiCeglio
view all testimonials

Contact A Neumann & Associates, LLC

If you are considering selling your business, please contact us to learn more about our comprehensive service spectrum. Our experienced professionals will answer all your questions about selling a privately held business in complete confidentiality. Please fill out our contact form, or call us at 732-872-6777. We will contact you directly and will never identify ourselves to your employees.

call us now
Contact Us for a Free, Confidential Consultation

Experienced M&A Advisors available

Full Name
Email Address
Phone Number
Message