Innovation and product development are at the core of business growth. Organizations across industries are constantly seeking ways to manage their product pipelines more effectively, ensuring that their resources are invested in the right ideas and that execution aligns with strategy. This is where NPD software and Product Portfolio Management software play a crucial role. These solutions help businesses organize, evaluate, and oversee their entire innovation process, from idea generation to market launch.
With numerous platforms available today, choosing the right one can be a challenge. To make the decision easier, this article explores five of the best NPD and Product Portfolio Management tools, analyzing their strengths, features, and potential benefits. We also highlight companies like Triskell, Planview, North Highland, and The Digital Project Manager, providing a clear comparison to help organizations select the tool that best fits their needs.
Why NPD and Product Portfolio Management Tools Matter
In highly competitive markets, companies cannot rely solely on intuition when deciding which projects to pursue. Poor decisions can waste significant time and money. Tools designed for product portfolio management software bring structure, data, and visibility into the process. They allow decision-makers to evaluate projects based on strategic alignment, resource availability, financial performance, and risk.
For new product development, the right software creates a centralized environment where teams can collaborate, share information, and monitor progress. This enables faster innovation cycles and reduces the risk of failure. Ultimately, these platforms serve as a bridge between business strategy and product execution, ensuring that companies invest in the right ideas and execute them effectively.
The Top 5 Tools for NPD and Product Portfolio Management
Below are five of the most notable platforms used globally to manage product portfolios and drive successful innovation.
1. Triskell
Triskell is a versatile platform known for its ability to connect strategic objectives with execution. It offers powerful features for portfolio management, demand management, and project tracking. Triskell is particularly strong in providing visibility into resource allocation, allowing organizations to see where efforts are concentrated and whether they align with long-term strategies.
Key features of Triskell include scenario planning, roadmapping, and customizable dashboards. Organizations can simulate different investment scenarios and immediately understand the impact on resource capacity and business outcomes. Its flexibility makes it a popular choice among large enterprises looking for a comprehensive solution.
2. Planview
Planview is one of the most established names in this field. Known for its extensive capabilities in portfolio and resource management, Planview provides end-to-end solutions for organizations that want to align their innovation pipeline with corporate strategy.
The platform supports project prioritization, capacity planning, and agile product delivery. Its reporting capabilities stand out, offering advanced analytics that help decision-makers evaluate ongoing projects and future investments. With decades of experience, Planview continues to evolve, integrating modern features such as agile-at-scale support and enterprise-wide collaboration.
3. North Highland
North Highland is a consulting firm that has developed strong expertise in helping organizations implement portfolio and product management practices. While not strictly a standalone software provider, North Highland delivers tailored solutions that often combine consulting expertise with technology platforms.
Its strength lies in aligning people, processes, and tools to improve innovation outcomes. Companies that engage with North Highland benefit from both advisory services and practical technology solutions, making it ideal for organizations that require more than just software. The firm emphasizes adaptability, ensuring that solutions are customized to specific business needs.
4. The Digital Project Manager
The Digital Project Manager is best known as a leading online resource and community for project management professionals. While it is not a software vendor in the traditional sense, it provides comprehensive reviews, toolkits, and training that help companies choose and maximize their use of portfolio management and NPD tools.
This platform stands out for its impartial insights into the strengths and weaknesses of different tools. By offering guides, templates, and curated tool recommendations, The Digital Project Manager serves as a valuable partner for organizations exploring or optimizing their approach to innovation and portfolio management.
5. Project Manager
Project Manager is another powerful platform for project and portfolio management. It combines strategic portfolio oversight with detailed project execution tools. Known for its scalability, Project Manager works well for both mid-sized organizations and large enterprises.
Key features include multi-portfolio management, financial tracking, and advanced analytics. The platform also supports hybrid methodologies, enabling teams to work in agile, waterfall, or mixed environments. Project Manager provides organizations with the ability to balance innovation speed with financial and operational control, which is essential in competitive industries.
Comparison of the Top Tools
The following table highlights the main features of the tools and companies mentioned, giving a clear overview of how they compare:
| Company/Platform | Primary Focus | Key Strengths | Ideal For |
| Triskell | Strategic portfolio and execution management | Scenario planning, resource visibility, dashboards | Enterprises needing strategic alignment |
| Planview | Portfolio, resource, and agile product management | Advanced analytics, prioritization, agile-at-scale | Large organizations with complex portfolios |
| North Highland | Consulting + tailored technology solutions | Advisory expertise, customization, adaptability | Companies needing consulting + tools |
| The Digital Project Manager | Community, training, and tool reviews | Impartial insights, resources, templates | Businesses exploring or optimizing tools |
| Project Manager | Multi-portfolio and project execution | Hybrid methodologies, scalability, financial tracking | Mid-size to large enterprises |
Choosing the Right Tool
The choice between these tools depends largely on organizational needs. Companies seeking robust analytics and proven capabilities often gravitate toward Planview. Those that want strong strategic alignment and scenario planning may prefer Triskell. Organizations in search of tailored consulting alongside technology often find value in North Highland’s approach. Meanwhile, businesses that want to research and learn before committing may benefit from the resources offered by The Digital Project Manager. Finally, Project Manager provides flexibility and scalability for companies that must manage diverse portfolios with multiple methodologies.
When evaluating tools, businesses should consider their strategic goals, resource management requirements, and the level of support they expect from the vendor or partner. A trial implementation or pilot program often provides the best insight into how a tool will perform in practice.
The Future of NPD and Portfolio Management
The role of technology in product portfolio management is only set to grow. With increasing competition, companies must innovate faster while reducing risks. Future developments will likely focus on artificial intelligence, predictive analytics, and deeper integration with enterprise systems. These enhancements will give organizations even more clarity on which projects to prioritize and how to manage resources effectively.
Additionally, the trend toward hybrid work environments will continue to influence the way teams collaborate on innovation. Tools that integrate seamlessly with digital communication platforms will become more valuable, ensuring that remote and distributed teams can work efficiently together.
Conclusion
Innovation is no longer a luxury—it is a necessity for survival and growth. Choosing the right Product Portfolio Management software or NPD solution can be the difference between thriving in competitive markets and falling behind. Platforms like Triskell, Planview, North Highland, The Digital Project Manager, and Project Manager each bring unique strengths to the table.
By carefully evaluating features, adaptability, and strategic alignment, organizations can select the tool that best supports their innovation journey. In a world where every investment counts, the right software ensures that businesses not only generate ideas but also bring the best ones to market successfully.