Types of Strategic Planning Software

Strategic planning software has been referred to by many other names, including strategic management solution, strategic execution software and business management software. These products differ from task management and project portfolio management platforms in the sense that they do not necessarily keep track of the daily tasks associated with project completion. A strategic management solution, however, may draw out the necessary projects that a company needs to tackle in order to achieve its business goals.

There are multiple ways to categorize strategic planning solutions, the first of which is deployment, i.e. how the software solution is delivered to customer businesses.

On-premise strategic planning software

On-premise strategic planning software refers to the software being deployed/installed on-premise, within the local servers of the customer business. The organization has complete control over the strategy management software, including maintenance and updates. Companies are required to pay the licensing fees before they can use the product, along with other additional expenses. Herein lies one of the drawbacks of on-premise deployment, the cost.

On-premise strategic planning solutions can be a great choice for businesses and organizations with deep pockets. But it is most challenging for the majority of small businesses, startups and independent organizations with a limited budget, mainly because of the upfront cost. For businesses that can afford this deployment option, they can expect complete control over the software and all of their data.

Cloud-based strategic planning software

Cloud-based solutions are delivered to customer businesses via the cloud. Also referred to as software-as-a-service (SaaS), cloud-based strategic planning software can be accessed by users using a web browser, a web application or through a mobile app. With this deployment method, the software vendor or service provider hosts the product remotely in an undisclosed location in the cloud or within their own servers. All maintenance and updates for the strategy management software is shouldered by the vendor.

Cloud-based strategic planning software solutions, just like other cloud-based solutions, often follow a subscription-based pricing model where customer businesses only have to choose the right subscription plan based on their budget and their strategy planning requirements. This deployment approach is quite popular among small businesses and startups as it is considerably more cost-efficient than on-premise options. Organizations only have to pay for the features and tools they use and they have the option to terminate or upgrade their current subscription anytime they want.

Integrated strategic planning software

While there is standalone strategy management software available in the market, there are bigger and more comprehensive platforms out there that do come with strategic planning capabilities already integrated into their modules package. Project management software, task management software, business intelligence software, business performance management software—these are just a few of the different software products that are often equipped with fully integrated strategic planning software.

OKR software is another type of product with strategic planning already imbedded within its core functionalities. OKR refers to Objectives and Key Results. This is a software solution that helps organizations effectively set, manage and plan their OKR, making it a specific type of strategic planning software. The platform allows users to create a structure for setting unique, manageable objectives and then gives them the ability to track and measure progress towards achieving those goals.

How to Choose Strategic Planning Software

Choosing the right product to facilitate your strategic planning process involves figuring out where your organization currently stands in terms of actual strategy planning. Different companies have different needs when it comes to the planning and execution of their respective strategies. The strategy management software you choose should address your current and future requirements as you continue to develop your business.

System scalability

Strategic planning software and other similar goal-setting platforms are designed to help your business grow; therefore it goes without saying that the strategic management tool you choose should have the capability to grow with your company with zero effort. A good way to determine strategy management software’s scalability is to connect with the vendor or service provider and inquire about their technology roadmap. It should include the frequency of system updates and information on upcoming feature rollouts. This will help you figure out whether or not the software will continue to add value to your business as you scale.

Mobile app support

Mobility and flexibility are crucial factors for any software solution, let alone a business planning platform. If you run a business with employees working remotely or teams that are constantly on the go, then opting for strategic planning software with mobile support might just be the most suitable choice for you. Good strategy planning software with mobile app support allows you to easily manage tasks and objectives, track progress and receive real-time data and reports with any mobile device, anywhere at any time. The same goes for your team and staff members as well.

Quality customer support

With any software solution, it is crucial to get quality customer support from the vendor or service provider. Customer support is often part of the cost of most software products, with some offering 24/7 support. For cloud-based strategic planning software, the level of customer service provided may vary depending on the subscription plan you’ve chosen. Customer support can be provided through email, live chat and/or by phone. Check the different packages offered by the vendor and figure out what kind of customer support they offer on each plan before subscribing.

Benefits of Strategic Planning Software

Strategic planning software provides organizations a wide range of tools and functionalities to help streamline the planning and execution of different business strategies. The following are some of the benefits of implementing the right strategy management tool:

Improved communication and collaboration

Strategy planning software gives users access to the same information with regard to company goals and priorities. It also provides tools and functionalities that make the sharing of information that much easier and more efficient, ensuring everyone is on the same page as far as achieving company goals is concerned.

More accountability

Strategic planning software is equipped with management tools and features that help improve accountability. While companies execute their latest business strategies, the system can effectively keep track of the progress and determine which team and/or department is performing well and which aspects of the organization need more improvement.

Effectively track and measure progress

Striving to achieve a specific goal requires progress. Ensuring consistent and sustainable progress requires proper tracking and measuring. A good strategic planning solution allows you to carefully track and measure progress by analyzing completed and ongoing tasks, as well as aggregating historical performance data and coming up with reasonable predictive models.

Centralized system

The goals and priorities of your business strategy will most likely cover a wide variety of moving parts, across multiple platforms. This can be an overwhelming and time-consuming prospect for any individual or team. Strategic planning software gives you the ability to centralize all pieces of data, every process and all business strategies in one cohesive platform. This should help increase productivity and minimize complications among users.

Common Features of Strategic Planning Software