7 Best Product Management Tools Of 2023 Along With Its Features, Benefits, and Limitations

7 Best Product Management Tools Of 2023 Along With Its Features, Benefits, and Limitations | Product Management | Emeritus

Product management tools help unlock the full potential of an organisation by transforming each stage of the product life cycle. They help the product teams to automate tasks and develop products effectively.

Since there are many product management tools available, you will have to choose the one that matches your requirement.



We have listed a few to help you make an informed decision.

Top Product Management Tools You Must Know

Trello

Product teams use Trello to simplify the product development process, encourage transparent communication, and launch new products.

Trello is an easy-to-use tool which helps increase productivity by giving a clear view of ‘who is doing what’s in an organisation.

  • Features of Trello

  1. Trello has components like boards, lists, and cards that help product teams to ideate, plan, manage, and track work throughout the product life cycle.
  2. Trello helps product teams to perform critical functions like product road mapping, collaborating with engineers and scrum masters, tracking customer feedback, and enabling big fixes, and updates.
  3. Trello’s transparent and seamless design helps product teams track and monitor their duties and progress efficiently.
  • Benefits of Trello:

  1. Trello has an easy-to-use interface. You can start using this product management tool immediately after signing up. Moreover, you will be provided with prompt guidance and support when needed.
  2. Trello makes it easy to see all project-related items on one page, track different members’ activities, and delegate tasks and duties effectively.
  • Limitations of Trello:

  1. You cannot manage complex projects on Trello because the app has a limit on the number of activities that can be listed in the work-in-progress section.
  2. Trello is limited to only viewing tasks and collaborating with team members.

Visio

Visio is a flexible data visualisation application that can be used to make flowcharts, visualise customer journeys, and simplify the product design process.

  • Features of Visio:

  1. Product teams use this application for making diagrams related to product design and They (product teams) also use this app for brainstorming, as it allows them to record and develop any set of ideas or information.
  2. Product teams can also build the most accurate product development plans in Visio. They can also track the product design and marketing plan.
  • Benefits of Visio:

  1. The application has an easy-to-use interface. The app eco-system is similar to other Microsoft programmes like Word and Excel, making it easier to operate.
  2. Product teams can use this application easily with Microsoft Word, Excel, PowerPoint, and OneDrive. You can share files and use different applications at the same time.
  • Limitations of Visio:

  1. MS Visio is an expensive diagramming tool compared to other apps of similar categories.

Evernote

Evernote is used for taking notes, editing, sorting them into folders, and sharing them across different platforms. It can be accessed on operating platforms such as Android or Windows.

Product teams use this product management tool to capture ideas, collaborate with departments, and organise tasks.

It is widely used across different departments, including project management, marketing, and sales, due to its easy-to-use interface and flexible eco-system. You would need little to no guidance navigating through this.

  • Features of Evernote:

  1. Product teams can use Evernote across devices. For example, they can use the app on their mobile to capture images or screenshots to share with different team members.
  2. Product teams can use Evernote to keep track of personal to-do items. They can use it to plan their daily activities, set reminders for meetings and important discussions, and archive web pages for product references.
  • Benefits of Evernote:

  1. You can extract text from hand-written notes, websites, word files, PowerPoint presentations and PDF documents.
  2. You can arrange notes based on topics such as product management, product strategy, competition, and customers. This division will take a few seconds and make your information easily accessible.
  • Limitations of Evernote:

  1. The free version of this app offers limited services. For example, you can only add two devices per account.
  2. Evernote lacks many premium features that other scheduling apps offer. For instance, you cannot access notes offline, or use the reminder feature with the free version of the app. These features are available in the premium version, which is expensive.

Zoom

Zoom is a video conferencing software. It offers excellent video and audio streaming for free. As product teams move to remote work, the demand and need for video conferencing software like Zoom have dramatically increased.

The video and audio-conferencing services are scalable to a degree, starting from a free or basic plan to a premium version. The premium version allows a vast number of integrations, data storage alternatives, and exclusive services.

  • Features of Zoom:

  1. Product teams use the Zoom meeting app to conceive, collaborate, design, and build products faster and more efficiently.
  2. Zoom allows smooth integration of third-party apps, which boosts the efficiency of product meetings. For instance, you can use a virtual notepad in Zoom meetings to write down a meeting’s agenda or highlight important points discussed.
  • Benefits of Zoom:

  1. Zoom is very easy-to-use and install. It’s even possible to join a Zoom call without creating an account.
  2. Zoom connects seamlessly with other software, making it easier for organisations to collaborate remotely.
  • Limitations of Zoom:

  1. Zoom has gained backlash over its privacy and security issues. Zoom users have complained about the inability to remove comments created by online trolls who invade the meeting space or stop unwanted guests from entering a meeting.
  2. There are time limit restrictions on the free version of Zoom. Your meetings can’t extend beyond 40 minutes. Additionally, there is no cloud recording, scheduling option, and advanced admin controls with the app’s free version.

Typeform

Collecting customer feedback is the cornerstone of product management. It helps product teams to identify the likes and dislikes of the customers and build a product that matches their requirements.

Product managers can use Typeform to collect and translate customer responses into actionable insights. It is a product management tool that gets them closer to their audience.

  • Features of Typeform:

  1. Product teams can use Typeform to create and personalise survey forms and integrate them with applications like Mailchimp or others to continue customer interaction on different platforms.
  2. Product managers can use the app to build quizzes, forms, polls and interact live with their target audience. For instance, the VideoAsk tool on Typeform allows product teams to connect with their customers on video calls.
  • Benefits of Typeform:

  1. It is a great tool to embed forms quickly on digital platforms such as SERP, websites, and social media. It also has many design options that match different brand requirements.
  2. It helps product management teams to send personalised messages and build stronger customer relationships. Additionally, it can be easily integrated with other project management tools.
  • Limitations of Typeform:

  1. The customer support of Typeform does not provide any phone support, and you can only communicate through email.
  2. You can build simple questionnaires and forms easily on the application. However, to build complex forms, you will need additional guidance and support, which is unavailable on the application.

ProductPlan

ProductPlan provides product teams with a holistic view of the product strategy with its roadmap templates. It makes planning, visualising, and communicating a product strategy easy. Product teams also use it for project management, resource management, task scheduling or tracking, and others.

  • Features of ProductPlan:

  1. ProductPlan lets you collaborate with your team on live roadmaps using their simple drag-and-drop editor. It allows you to create flexible product workflows, build and streamline roadmaps, prioritise ideas, and smoothly launch new products. Additionally, it also enhances integration with team messaging applications like Slack and Teams.
  2. ProductPlan makes it easy for stakeholders to view product-related data without logging into the tool and lets you send them links to editable roadmaps.
  • Benefits of ProductPlan:

  1. It is simple and easy to use. The platform features an interactive and inventive UI with a vibrant design and easy-to-move column.
  2. It is a communication-focused platform that allows users to track the roadmap by using visual effects such as product milestones. The entire product roadmap is displayed interactively, providing a detailed image of each activity.
  • Limitation of ProductPlan:

  1. The lack of prompt support and help from ProductPlan is one of the major limitations. Although the product management tool is user-friendly, sometimes it is hard to learn new things without help or support.
  2. The software doesn’t have a rewind feature, which makes it hard to undo actions in the event of an error.

Pendo

Pendo is an analytical app that helps companies develop products that resonate with their target users. The application includes features that provide deep insights about how to enhance user experience. It integrates product intelligence into organisations to innovate at the speed of changing user needs.

  • Features of Pendo:

  1. Pendo helps understand how users engage with a product. This data can be used to enhance customer experience.
  2. It uses analytics to identify a product’s usage and the parts of the products liked by your target customers.
  3. It also visualises the user’s product journey to identify the user’s demands and requirements.
  4. Pendo helps in identifying trends in usage across different customers. This allows the product team to make valuable product decisions about how to enhance the product.
  • Benefits of Pendo:

  1. You can easily access the helpdesk or support of Pendo when in trouble. The app has user-friendly walkthroughs that provide information on how to use it for different business activities such as brand awareness, marketing, and customer retention.
  2. Pendo’s segmentation is top-notch. You can break down user groups into random groups or groups based on product usage, permission, or other combination.
  • Limitations of Pendo:

  1. The dashboards are top-notch, but they can be made more useful. For instance, it is hard to share or replicate a dashboard.
  2. There are limited options for widgets and you can only choose from the pre-defined widgets.
  3. Pendo allows hyper-customisation that makes it hard for product teams to keep track of changes made by everyone during a product life cycle.

By now, you must have got a clear picture of the top product management tools that can help you deliver an effective product to the market. However, do take a look at other product management tools like Jira, ClickUp, Monday.com or Wrike, especially if you want a career in product management or are new to the field.

You can also upskill with an advanced course. It will equip you with knowledge about different product management tools and also teach you how to build a fit-to-market product successfully.

Emeritus offers some of the best product management certification courses to help you upskill and gain deep insight into the product development process. Our learning programmes are provided in partnership with renowned institutes like IIM, IIT, and ISB.

Frequently Asked Questions

  1. What Is Product Management?

Product management is an organisational function that supports the product right from development to pricing. It focuses on innovation, automation, the development of products and the growth of customers.

  1. Who is a product manager?

The product manager is a trained professional who monitors the product team and product management function. They ensure that the audience’s voice is heard in a business organisation.

They work relentlessly with a team of skilled and talented executives to develop a product that aligns with customers and the brand’s objectives.

  1. What are product management tools?

Product management tools are software applications that automate various product lifecycle processes. Product teams use these tools for all product-related tasks, such as product ideation, development, designing, prototyping, preparing a roadmap, and customer research.

  1. Where can we use product management tools?

You can use product management tools for product strategy, developing a product roadmap, gathering customer feedback and survey, product design, and project management.

About the Author


Content Writer, Emeritus Blog
Yashvi is a dynamic content creator with 5+ years of experience crafting content for global brands, specializing in tech, finance, and healthcare sectors for both B2B and B2C audiences. Her diverse knowledge base empowers her to create meticulously researched, value-packed content for the EdTech sector, catering to various audiences. In her downtime, she explores the realms of mental well-being, reflecting her holistic approach to personal and professional growth and deepening her empathy for her audience's pain points and needs.
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