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Software-as-a-Service has quickly emerged as a viable delivery model for project portfolio management, with many benefits: a lower price tag, faster implementation, and no need for infrastructure or maintenance investment. And while concerns about scalability, security and hidden costs persist, they aren’t deterring organizations like Forbes Media and Yes Bank.
Mykolas Rambus had been on the job as the chief information officer for Forbes Media for just a few weeks before his tasks threatened to overwhelm him. Dozens of initiatives that encompassed everything from content publishing to advertising campaigns sat in disparate opaque folders, each with their own budgets, allocations and timelines. Rambus needed a better way to manage the project load, but enterprise project portfolio management software can run upwards of half a million dollars and take six months to install. Rambus had 35 IT experts on staff, but their hands were far too full to take on integration of a major software system. That would require several new fulltime staff and constitute a major project in itself. If he could have his way, he’d find something simple, cheap and quick. And so, like many organizations facing similar challenges, he turned to a software-as-a-service (SaaS) PPM solution.
SaaS has emerged as a viable delivery model for PPM with many benefits: lower cost, faster implementation, quicker time-to-value, no need for infrastructure investment or maintenance, and lower risk of adoption failure, according to a new Forrester Research report, which notes that stablished on-premise PPM vendors are launching their own SaaS versions, and smaller pure-play SaaS vendors are targeting small and midsize opportunities, with some even targeting enterprise opportunities.
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