Product management is getting more popular in both startups and large corporations, but it’s still a challenging profession to describe. It doesn’t suit any of the standard positions you would be familiar with, such as engineering, business strategy, design, or marketing. Instead, product management combines these disciplines to create a critical new domain becoming increasingly significant among startups and large corporations.
13+ Product Management Software
1. Prodpad
2. Aha
3. Wrike
4. Jira Product Management
5. Gainsight PX
6. Productboard
7. Backlog
8. CaseCamp
9. Craft.io
10. Monday.com
11. MeisterTask
12. Asana
13. Trello
14. Pendo.io
What Is a Product Management Software?
The primary goal of product management is to create a new product. Its ultimate purpose is to ensure that you produce the right product and that you build it correctly. Notably, product management serves as a bridge between the development and marketing resources, sales performance, and customer success teams, ensuring that the process is consistent with the business objective. In other words, it is responsible for converting business objectives into technical needs and vice versa, as well as communicating the product’s capabilities and limitations to the commercial teams responsible for marketing, sales, and customer communication.
Benefits
Product Management is one function that can provide substantial benefits to organizations in this climate. When done correctly, it increases the product’s commercial success while minimizing product development costs. Here are some benefits that Product Management can help businesses:
- Sales sell-by articulating the customer value
- Reduces the chance of a product failure
- Aligning Market Demands with Organizational Goals
Features
For development teams, product management solutions include resource allocation, product portfolio management, and agile workflows, including sprint planning, user testing, and bug tracking. Collaboration capabilities, such as chat or comment threads, may be available in some product management software. Other features include:
- Creating a vision
- Customer insight and market research
- Putting the plan into action and putting it through its paces
- Metrics tracking for products
Top 10 Product Management Software
1. Prodpad
Prodpad is business-oriented product management and road-mapping application. They have a $4 million revenue and 25 employees.
2. Aha
Aha creates product strategies and visual roadmaps using roadmapping tools. Aha employs 200 people and has a $45.8 million revenue.
3. Wrike
Wrike is a SaaS-based platform that provides enterprises with workplace communication and project management tools. They have a $130 million revenue and 1000 employees.
4. Jira Product Management
Atlassian creates tools for project managers and software developers. They have a $1.7 billion revenue and 3,616 employees.
5. GainSight PX
Gainsight is a cloud-based customer success management tool that helps organizations improve their product experience and income. They have a revenue of $139.3 K and 500 employees.
6. Productboard
Productboard is a product management software company based in California that helps businesses construct, prioritize, and integrate product feedback repositories. They have a $42 million revenue and 200 workers.
7. Backlog
Backlog is a project management and issue tracking software tool for development teams collaborating with design, marketing, and IT teams in the cloud. They have a $5 million revenue and 25 staff.
8. CaseCamp
Casecamp is a web-based project management that helps you manage projects, teams, and clients. They have annual revenue of $8 million and employ 38 people.
9. Craft.io
Craft creates a software-as-a-service platform for businesses to manage their products. They have a $5 million income and employ 28 people.
10. Monday.com
Monday.com is a project management tool headquartered in Israel that assists organizations in creating and assigning tasks, planning workloads, notifying coworkers, and sharing files. They make $161 million in revenue and employ 77 people.
FAQs
What is the definition of a product management framework?
Those product management frameworks provide teams with a systematic methodology to improve and construct their products. These frameworks offer repeatable instructions on how to discover, prioritize, and execute products.
Is it possible to make a good living as a product manager?
Product manager positions are increasingly sought after, with high salaries and plenty of room for advancement.
What is the role of a software product manager?
To provide customer value and produce demonstrable business benefits, the software product manager oversees one or more products from conception to phase-out. The product manager is in charge of the total value chain of a product throughout its product life cycle and develops the product roadmap.
Statistics calculator shows that over 30,000 new assets are launched each year, with 85% failing. One of the most significant causes for this is that too many products are not fully prepared for the market. Financial losses frequently result from ignoring one component of product management while focusing heavily on the other. It is feasible to avoid such effects and boost the possibilities of a product’s success in the market with good product management.
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