How to select the right strategic planning software for your business

When it comes to purchasing strategic planning software, it is easy to become overwhelmed. There are numerous options, features, functionalities, and price points to look into. As you investigate potential vendors, your shortlist will grow dramatically. Read this post to know more about the key factors you need to consider when selecting the best strategic planning software for your organization.

 

What is strategic planning?

Strategic planning is the art of developing detailed business plans, putting them into action, and assessing the outcomes in light of a company's overarching long-term objectives or aspirations. It is a theory that concentrates on integrating different corporate divisions (like accounting and finance, marketing, and human resources) to achieve a company's strategic objectives.

A company's strategic plan focuses on key elements that begin with the most important objectives at the top and work their way down to identify every necessary factor for success. This makes it easier for your team to understand the overall objectives of the business and how each member can contribute to achieving those objectives.

 

 

Factors to consider when selecting the best strategic planning software

 

 

It's critical to consider the key features that will be most advantageous to your organization when choosing strategic planning software. It should align plans, create accountability, and show how your plans are progressing. We have collated a few factors which should be kept in mind when selecting strategic planning software for your business:

 

A pre-built software with customizable features

Forget excels and spreadsheets when it comes to laying out your strategic plans. They are but only a waste of time and resources. Instead, use cloud-based software that assists teams in project planning. The ones with the configurability option will allow you to tweak it as per your needs with no coding or programming skills. You can easily create plans, assign tasks, and set deadlines.

 

A platform that aligns with your process

The strategy planning software should align with your goals. Your preferred provider should deliver a solution that drives alignment. However, it should also be adaptable enough to handle one-time projects that may not fit neatly into an organizational-wide hierarchy. This ensures that your plans are consistent and that your teams are speaking the same language.

 

Robust functionalities

Make sure the software has the necessary features to support your specific strategic planning processes, such as goal-setting, SWOT analysis, and action planning. These are the crucial functionalities and you just can’t miss these.

 

Communication and collaboration toots

Communication is essential for maintaining accountability and carrying the company vision forward. Due to overloaded inboxes and delayed responses, email is quickly becoming an ineffective tool for workplace communication. Sometimes important emails get lost in the shuffle, and people waste time trying to find them.

 

 

Flexible integration options

Consider whether the strategic planning software can integrate with other tools and systems your business already uses, such as project management or financial software. They should have advanced integration capabilities that don't require internal IT support (API).

 

Analytics

How will you know what your team is accomplishing unless you can effectively record and analyze it? Finding the right analytical tools allows you to keep track of your team's goals and productivity, providing data on how well everyone is doing.

This feature makes evaluating efforts and determining necessary changes easier, ensuring that everyone is working toward the same goals. Without these analytics, your team may not be able to reach their full potential for years.

 

User-friendliness

A user-friendly interface that is simple to use is the next vital factor to consider. The planning software should allow all stakeholders in your organization to keep their eyes on the company's vision with simple drag-and-drop strategy builders. It should let users create Key Performance Indicators (KPIs) and translate them into monthly, quarterly, or annual goals.

 

Scalability

Choose software that can grow with your business and accommodate unlimited users and more complex planning needs as your business expands.

 

Report builders

The creation of various reports like research, analytical, and expense with options to share is an essential component of almost every business. While many businesses use Excel and Spreadsheets for these, numerous strategic planning tools will automatically gather information and generate a report with the click of a button.

This saves an employee valuable time that would otherwise be spent formatting, entering, and editing an outdated Excel document. Utilize cutting-edge reporting software to generate a professionally designed report every time.

 

Custom dashboards for visibility

Custom dashboards are required to deliver the information to the right places at the right time. Each team, meeting, or company gathering may demand a distinct set of data. You must be able to quickly create and deliver customized reports that keep your team focused on what matters most.

 

PM (Project Management) tools

Only a few industries would benefit from project management software. These apps frequently include planning tools, timelines, project roadmaps, and other features. They make task management easy by allowing everyone to share access to each other's responsibilities.

Another advantage is the ability to view an entire year's progress or plans on one screen, making it simple to track progress. Whether you sell a product or a service, your team could benefit from a project management tool at some point.

 

Cost saver

Compare the costs of different software options and choose the one that fits your budget. The one that supports teams in better processes, ultimately saving time and cost should be your crucial concern.

 

Support system

Ensure the software vendor offers customer support and training so you can get the most out of the software. In addition to the software's in-depth help documentation and the ability to contact and speak with a knowledgeable support team, you should search for additional resources that will aid your teams in getting the most out of their solution.

 

Security and safety

Be sure the software is secure and compliant with relevant industry standards and regulations. Before you buy strategy planning software, discuss your needs and requirements for security with the vendors.

To keep your business processes and data as secure as possible, some of the best options are those that offer regular security updates. The Advanced Encryption Standard (AES), stringent data separation, and real-time security analysis should all be part of cloud-based options.

 

Choosing the best strategic planning software solutions

While there are many factors to consider when developing an effective strategic plan, focusing on execution is equally crucial. A crucial choice in this process is choosing the right strategic planning software.

Although this compilation is only the tip of the iceberg, it does highlight some of the most crucial criteria you should consider when assessing your strategic planning software options. Remember that choosing a partner is just as important as selecting a software solution.

If you are still not sure which system is best for you, contact our strategic experts to make sure you choose the best option for your company.