Many kinds of business software are available to help businesses make better choices and work more efficiently. Accounting software, for instance, helps businesses track financial transactions and bookkeeping while project management software can help organize and coordinate teams’ projects. Communication and collaboration tools are also beneficial software for business, allowing employees to collaborate on projects and share ideas even if they’re not in the same place.

Managing a business requires an effective smooth, reliable workflow and an infrastructure for application that supports your company’s long-term goals. Effective application management (AM) that improves productivity and reduces operational expenses and increases competitive advantage, can help you reach these goals.

The following groups are involved in the process of managing applications:

Application Managers: This group composed of IT experts oversees all aspects of your organization’s applications, including building and keeping track of the software tools used within the organization, determining which are best for the business hosting models, hosting models, and integrations. The team also manages budgets related to projects and day-to-day operations, and reports on the results to management and other stakeholders.

Business Unit Owners : These employees are usually accountable for selecting the business functions and applications that drive growth. They work together with IT teams to create more user-friendly solutions, and implement strategies to encourage acceptance and engagement. This may include developing more effective user education programs or creating a system that solicits regular feedback regarding their effectiveness. These individuals must also communicate to users that they have to update or change applications in response to technological advances or transformative changes.

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