Management software is that which is designed to streamline and automate management processes in order to lessen the complexity of large projects and tasks, as well as encourage or facilitate team cooperation, collaboration and proper project reporting.
Specific kinds of software that belong in this category include:
Financial management software
Project management software
People management software
Network management software
Techopedia explains Management Software
Management software is a broad and encompassing term used to refer to any and all kinds of software that are designed to manage or help manage some sort of project or task.
Most management software solutions also handle employee and resource management, scheduling coordination and management, task assignment and time tables, risk analysis and many more.
The features really depend on the type of management that the software is targeting. For example, for project management, the software has features which help manage all of the resources needed in the project including financial and people power.
It allows for the clear view of tasks and their respective statuses and due dates as well as the person assigned to each one. Financial management software will probably have totally different features compared to a project management one, but they both fall under the broader category of management software.