The rise of a global and a distributed workforce has led organizations the world over to switch to using technology that lets work go on seamlessly, anytime and anywhere. Collaboration and Productivity Software also called collaborative software or groupware, essentially helps organizations minimize red tape and increase productivity while helping to build a customer-centric productive workplace.
In a survey of 1100 companies done by The Institute for Corporate Productivity and Professor Rob Cross of Babson College, it was found that collaborative work is 5.5 times more likely to result in higher performance. A collaborative ecosystem lowers costs, raises productivity levels, and results in higher ROI as they promote common goals by connecting teams in complex business environments.
Collaboration and Productivity Software helps organize and digitize standard time-consuming such as team member communication, coordination and workflows, file sharing, approvals, and task management. Some of the most common types of Collaboration and Productivity tools include team collaboration software, meeting management, calendar, project management, and webinar tools.
Collaboration and Productivity Software helps teams of any size bring efficiency to their work, in pursuit of a common goal. It is designed to facilitate teamwork while offering a single platform for them to share knowledge, data, and files to solve business problems and interact from any location on the cloud. Companies looking to improve coordination and teamwork, amongst business workers, often turn to Collaboration and Productivity Software such as ProofHub, Asana, Cisco WebEx, Slack, Flock, and Yammer amongst many others.
According to a McKinsey Global Institute (MGI) Report, “Improved communication and collaboration through social technologies could raise the productivity of interaction among workers by 20 to 25 percent.”
We all have a personal recipe for productivity. One person may need six cups of autonomy and just a pinch of collaboration. Another person may require heaps of sociability and noise, with just a teaspoon of occasional privacy
With an increase of Bring Your Own Device (BYOD), cloud-based SaaS solutions, and enterprise mobility among organizations globally, the demand for Collaboration and Productivity management software solutions is only set to increase. As per a market forecast study, the Collaboration Software Market size exceeded USD 9 billion in 2019 and is poised to grow at a CAGR of over 14% between 2020 and 2026. Meanwhile, the global productivity management software market size is expected to reach USD 102.98 billion by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 13.4% over the forecast period.