Favro vs Paymo: 2024 Comparison

Favro and Paymo are two of the most popular project management tools available today.

But how do they stack up against each other?

Which one manages tasks better?
Which one helps you allocate resources more effectively?
Which one is more affordable?

Discover all the answers in our detailed comparison guide.

A. Project and Task Management

Get. Things. Done. 

You and every project manager likely live by those words.

It’s also the heart and soul of any project management software. 

This is why, before anything else, you must evaluate a tool’s ability to help you manage your tasks and projects.

Features to look out for:

  • Project structure: A simple, intuitive way to organize work and toggle through multiple projects, tasks, boards, etc. 
  • Views: Board, list, timeline, Gantt, and other types of views that let you visualize various types of information within each project.
  • Tasks & subtasks: Dedicated spaces offering the ability to drill down to the smallest level of actionable detail about each project item. 
  • Statuses: Effortless ways to communicate the exact progress of each task, board, project, etc.
  • Checklists: Quick to-do lists for each task so things don’t fall through the cracks 
  • Task templates: Easy-to-copy templates to create identical tasks at scale across multiple projects. 
  • Assignees: The ability to assign tasks, boards, or projects to individual team members, groups, or even teams. 
  • Priorities: A way to communicate the urgency level of each task, subtask, or project. 
  • Automations: Trigger-based (if X happens then do Y); ways to automate repetitive actions such as notifications, comments, status updates, etc.

1. Project Structure / Hierarchy

a. Favro

Organize your workflow within the Favro work hierarchy as follows:

Workspaces > Collections > Lists (Backlogs) > Boards > Cards

  • Workspaces: Groups of collections, teams, projects, etc.
  • Collections: Distinct spaces for teams, projects, clients, locations, etc.
  • Lists (Backlogs): A prioritized view of all the tasks related to a particular project or client.
  • Boards: A drag-and-drop kanban-style look at the work, workflow, and progress of items in a list.
  • Cards: Individual tasks or work items that provide assignees details and an area to discuss progress.

Favro_Project_Structure

b. Paymo

Keep your work organized with Paymo’s hierarchy:

Client > Project > Task list > Task > Subtask

  • Client: All the work for each client is grouped together
  • Project: All projects belonging to one client
  • Task list: A collection of tasks that need to be done to complete a project
  • Task: Individual work items within the task list
  • Subtask: Tasks broken down into smaller steps

2. Views

a. Favro

Favro offers five handy ways to view your work:

  • Kanban: A left-to-right flow of work that organizes cards by task status, allowing users to drag and drop cards as they move through the project stages.
  • Sheet: A table-style overview of all cards and their crucial fields (E.g., Owner, priority, status, etc.).
  • Timeline: A way to oversee task scheduling and work towards goals.
  • Cards: Allows you to prioritize cards and break down goals into actionable steps
  • Charts: Set up charts to visualize data like the number of cards compared to available time, bottlenecks, and efficiency over time. Save your charts for regular use.

Favro_Views

b. Paymo

Paymo enables you to visualize your projects in five different ways:

  • List: For each project, you see a list of tasks with a brief overview of their details (E.g., due date, assignees, etc.)
  • Table: A more detailed view of tasks with information fields in columns
  • Board: A Kanban board view of tasks grouped by status
  • Calendar: Displays tasks on a calendar, showing their start and due dates
  • Gantt: A timeline of tasks depicting start and due dates, dependencies, and milestones

3. Tasks & Subtasks

a. Favro

Favro represents tasks and subtasks as cards. You can also create cards as “child items” under a parent card to indicate smaller work items required to progress a larger task.

When setting up a card, you can add details like:

  • Relationship to other cards, statuses, boards, lists, or collections
  • Task description
  • Dependencies
  • Task status
  • Members (assignees)
  • Tags
  • Fields and custom fields
  • Checklists
  • Files
  • Tables
  • Bullet lists

Favro_Tasks_Subtasks

b. Paymo

Break tasks into granular subtasks to indicate the steps needed to complete a task.

Fill out the details on tasks to provide assignees with all the information they’ll require, such as:

  • Task name and description
  • List of subtasks
  • Link to the project and task list
  • Start and due dates
  • Assignees
  • Billing type
  • Time estimate
  • Billing estimate
  • Invoice status
  • Time budget alerts
  • Priority
  • Status

4. Statuses

a. Favro

Create custom statuses for lists or boards to outline the workflow of your projects and processes.

Favro_Statuses

b. Paymo

Paymo includes the following default task statuses:

  • Active
  • Proposal
  • On-hold
  • Canceled
  • Completed
  • Archived

You can create custom statuses in the company settings menu, which apply globally.

Additionally, Paymo allows you to set up workflows for specific projects. The default workflow contains To Do, In Progress, and Complete. From the company settings, you can establish new workflows with custom statuses.

5. Checklists

a. Favro

Add checklists to cards to remind assignees of crucial steps. You can mention specific members in checklist items to indicate responsibilities.

Additionally, if a checklist grows too long, you can convert the checklist or any individual list items into cards.

b. Paymo

Paymo doesn’t include a native feature for adding checklists to tasks and subtasks.

6. Task Templates

a. Favro

Recreate your best processes by templatizing your existing cards, boards, lists, or collections. 

Templatized cards can retain detail fields like time estimates, assignees, dates, checklists, etc. You can set a card template as the default for any new cards created in a certain board or list.

Favro_Task_Templates

b. Paymo

Paymo offers project templates, which are useful when multiple projects share the same task lists and structure.

However, you can’t templatize individual tasks on Paymo.

7. Assignees

a. Favro

Assign cards to members individually or create member Groups and assign cards to a whole team at once.

b. Paymo

Add assignees to projects, task lists, and tasks.

8. Priorities

a. Favro

Favro doesn’t have any default priority levels. However, you can easily create them using Custom Fields. Doing so will display a new column in a list and a Field on a card with your custom priority markers in color-coded bubbles. You can then sort and filter your boards and lists by card priority.

b. Paymo

Indicate the urgency of a task by setting the priority to one of the default statuses — low, normal, high, or critical. Paymo doesn’t offer custom priority statuses.

9. Automations

a. Favro

With Favro, you can create automation rules consisting of Triggers and one or more Actions. Alternatively, browse a library of pre-made automation templates.

Favro_Automations

b. Paymo

Paymo doesn’t include a native feature for setting up automation rules.

However, it does have some time-saving automation features, including:

  • Automatic recurring tasks
  • Automatic time tracking
  • Auto-scheduling (to adjust dependent tasks when dates change)

B. Time Management

Time is money for a reason. 

The right software can be the difference between pinching pennies and raking in the big bucks.

Effective project management software offers effortless time management features to help you befriend the clock. 

With the right one, expect to keep all your tasks running as scheduled and meet your deadlines with ease. 

Features to look out for include:

  • Due dates: Communicate expected delivery dates.  
  • Time estimates: Make capacity decisions based on how much time each task or project is expected to take. 
  • Time tracking: Measure productivity with accurate time consumption data for each team member. 

1. Due Dates

a. Favro

Use the Timeline field on cards to set start and due dates for tasks. These will link to the Timeline View.

b. Paymo

Set task due dates and time budgets and set up alerts for when you’re approaching deadlines.

2. Time Estimates

a. Favro

When you create a card, you can set a time estimate as a guideline for members. Additionally, set a billable rate to include a budget for tasks.

b. Paymo

Set time estimates for tasks. Additionally, if the billing type is time-based, you can set a billable rate and calculate the estimated billable amount.

3. Time Tracking

a. Favro

Favro doesn’t have a native time-tracking feature. However, it does offer task timesheets, on which members can manually fill in the time they spent working on the task.

b. Paymo

Paymo offers six different avenues for tracking time:

  • Web timer: Select the project and task you’re working on and use a timer to track time in the web app.
  • Manual: Add time directly to tasks by inputting a duration or time interval of work. 
  • Bulk function: Input time entries for an entire week on a timesheet.
  • Desktop Widget: Track time or manually add time from the Paymo tracking widget for desktop.
  • PaymoPlus: Receive an automatic record of your activities for the day, and map them onto time entries at the end of the day to sync them with Paymo.
  • Mobile app: Track time or add it manually via the Paymo mobile app.

C. Reporting

What you can’t measure, you can’t improve. 

Reporting and analytics features can help you track real-time progress, monitor key metrics, and sniff out bottlenecks like a detective.  

Armed with these insights, your team can stay ahead of the curve no matter the situation. 

Expect better resource management, superior deadline compliance, and a more focused and decisive team.

Features to look out for include:

  • Goals and milestones: Record targets for the whole team to see and work towards.
  • Dashboards: Visualize data from all corners of the team into a user-friendly, interactive interface.
  • Gantt charts: Keep your plans flexible with Gantt charts that allow you to adjust timelines based on changing resource availability and task completion ratio. 

1. Goals & Milestones

a. Favro

Setting up goals in Favro is all about your backlog (lists). Here, you’ll create parent and child tasks, breaking work down into bite-sized chunks to help you progress toward your goals.

You can track goal progress with the Advanced Progress Management feature, which displays completion percentage bars on your lists. You can choose to measure completion by task status or card checklist completion.

b. Paymo

On Paymo, you can set milestones that are dates by which you want the associated tasklist to be resolved. You can also set reminders for upcoming milestones.

2. Dashboards

a. Favro

In Favro, you can set up custom dashboards to gather data from multiple boards and collections and see visual representations using widgets.

The widgets include:

  • Pie charts
  • Bar charts
  • Tables
  • Sheets
  • Burndowns

You can choose the specific fields from the sources you’d like displayed (E.g., create a pie chart of cards by task status) — and add filters (E.g., filter the pie chart for a particular member).

Favro also allows you to duplicate, export, and share dashboards.

Favro_Dashboards

b. Paymo

The Paymo dashboard displays real-time graphs and information from across clients, projects, and tasks.

You can customize the dashboard by activating, deactivating, and reordering various plugins, which include:

  • Finance plugin: A graph of sent vs paid invoices for a period
  • Time plugin: Displays time tracked by you, the whole company, or team members you manage, depending on your company role
  • Billable vs non-billable plugin: Shows a pie chart of billable vs non-billable hours tracked
  • Milestones plugin: Displays upcoming and overdue project milestones
  • Active timers plugin: Shows which team members are working and what they’re working on in real time

3. Gantt Charts

a. Favro

Favro’s Timeline View functions as a Gantt chart feature, allowing you to:

  • Create cards on the timeline
  • Add members to cards
  • Customize card fields
  • Manage card attachments

b. Paymo

Paymo automatically displays all tasks that have a start and end date in the Gantt chart view, where you can:

  • Drag to adjust dates and duration
  • Change the view to show days, weeks, months, or years
  • Create dependencies between tasks
  • Click on tasks to see an overview of details

D. User Management

Software, features, and other tech things aside, the real heroes of any project are your team members. So make sure to pick the kind of project management software that puts them front and center!

How do you do this?

Look for software that knows what different team members need and helps you deliver the right experience. 

Features to look out for include:

  • User groups: Create internal teams representing various departments, functions, or projects. 
  • Permission levels: Grant different access levels depending on the users’ information requirements and the company’s security concerns. 
  • Guest users: Invite team members from other companies/teams to collaborate with your team without compromising on confidential data. 

1. User Groups

a. Favro

Depending on your permission settings, administrators or members can create groups of people representing different teams, departments, skills, etc.

Group owners and admins can assign roles to group members. You can assign a group a card, board, list, or collections in one click as if it were an individual member.

b. Paymo

Paymo doesn’t offer any native features for creating user groups or teams.

2. Permission Levels

a. Favro

Favro’s permission settings allow you to:

  • Set collection visibility to Private (invite only), Organization (visible to all in the organization), or Public (visible to anyone with a link).
  • Select collection owners who can manage members, tasks, and settings.
  • Choose whether members can configure, rename, archive, or delete boards and lists.
  • Decide whether members or guests can add or edit cards.
  • Choose what types of visibility members can set on collections.

b. Paymo

Paymo offers the following user privilege levels:

  • Admin: Has access to financial information, client data, company settings, company-wide time data, team scheduling, and PTO 
  • Project manager: Can add, manage, and view time entries, time reports, and schedules for the projects they’re assigned to
  • Regular user: Can add tasks for themselves, view task details, and discuss tasks they are assigned to

3. Guest Users

a. Favro

When you set boards or collections to Public and share links with external parties, they can visit as guests. Additionally, when you share boards, you can specify a view (E.g., timeline or sheet) that you would like guests to see when they follow the link.

Guest users won’t be able to see or access any other view, board, or collection in the workspace if they don’t have a link. You can choose whether guests can open cards and leave comments.

If you want to manage guests as if they were full members, you can convert guests to External Members.

b. Paymo

You can invite external people to view a project on Paymo as a guest user.

They will be able to:

  • View projects, tasks, time reports, invoices, and estimates you share with them
  • See upcoming milestones
  • Contribute to discussions on shared tasks
  • Add tasks (If granted the user privilege by an admin)

E. Collaboration

In project management, collaboration and communication are like a ballroom dance — if everyone isn’t in sync, you’re just stepping on each other’s toes!

A project manager should encourage their team to be on the same page regarding everything happening on the project. This could involve regular meetings, periodic status updates, shared checklists, etc. 

But things can get tricky when you add different team structures (remote, hybrid, distributed, etc.). 

The trick is to balance ‘informing everyone’ with ‘over-communicating.’ 

The solution is to forge a shared space where the whole team can contribute without hampering individual productivity. Picking a suitable project management software is the first step toward achieving this goal. 

Features to look for include: 

  • Comments: Simple ways to send feedback or discuss a task or project. 
  • Threads: Keep all relevant comments in a single thread. 
  • Tagging/@mention: Mention a team member on a task, in comments, or in any shared space to notify them. 
  • Sharing tasks: Share tasks with relevant team members for efficient collaboration.
  • File management: Attach and store files, create and annotate documents, etc., for ready access to project documentation. 
  • Notifications: Customize how team members receive notifications.

1. Comments, Threads, & Tagging

a. Favro

Each Favro card has an activity feed showing actions taken and conversation threads. Here, you can leave comments, reply, mention others, and assign tasks.

Favro_Comments_Threads_Tagging

b. Paymo

Comment on tasks and assign comments to notify specific users on Paymo. 

Alternatively, you can comment at the project level by adding a discussion in the Discussion tab.

2. File Management

a. Favro

To any card, you can attach images, files, and other cards or boards so assignees have all the resources they need to work productively.

b. Paymo

You can upload files to tasks from your device or Google Drive. You can also add files in comments on tasks.

All files for a project will be available in the Files tab.

The maximum file size is 2GB, and the following file formats are allowed:

  • .doc
  • PDF
  • .csv
  • .xml
  • .png
  • .jpg
  • .psd
  • .cad
  • .zip
  • afd.esign
  • .afpub
  • .afphoto
  • .dwg
  • .cdr
  • .rvt
  • .rfa
  • .blend
  • .fbx

3. Notifications

a. Favro

Each Favro card has its own activity feed. Mentioning or assigning others will send them a notification in the feed accessed on the app’s top bar.

If you’d like to receive notifications for all card activity, you can “follow” the card.

card activity will also display on the backlog with badges indicating mentions, edits, moved cards, and collection changes.

Favro_Notifications

b. Paymo

Paymo can send in-app and email notifications to assignees for activities on their projects and tasks.

Each user can change their email notification settings to select which activities they want to be notified about.

F. Customer Support

Individual users in smaller teams often face a steep learning curve with most project management software. 

In their case, having access to responsive support executives and a wealth of helpful resources can make a significant difference, turning a frustrating experience into a positive one.

However, customer support is just as crucial for larger teams. 

Even if these teams initially received thorough onboarding and training, their needs and use cases tend to evolve over time. Continuous and adaptable customer support becomes essential to address these changing needs effectively.

With adequate customer support, you can:

  • Derive maximum value from the app with the help of professional guidance whenever required
  • Ensure your team is making full use of all the features you’re paying for
  • Learn from case studies of other teams using the same software
  • Expand your use cases with time
  • Learn about the features your team uses the most and avoid spending on those you don’t need
  • Solve minor issues on your end by going through help resources
  • Get hands-on support when you get stuck
  • Keep a record of all your complaints and feedback for the platform to aid future buying decisions
  • Send feedback to the app’s developers so they can design the features you most desire

Features to look for include: 

  • Detailed knowledge bases and documentation to aid DIY solutions to common issues
  • Case studies, templates, guides, and other resources
  • Easy access to resources for all types of users — free or paid
  • Async support executives to cover for the time difference
  • Live agents who can respond via chat or phone 
  • Screenshots and recordings to display how the tool works
  • Translations to resources in other languages, if needed

Favro

  • Support Articles: Pages providing written guidance and information on Favro’s features.
  • Favro Fanatics: A Facebook page for community engagement and support.
  • Video Tutorials: Short how-to videos explaining features and answering FAQs.
  • How-To Videos: Longer, more detailed videos explaining specific advanced features and processes.
  • Courses: Agility certifications users can attain through self-study or live training courses.
  • Quickstarts: Paid onboarding sessions to quickstart enterprises, game studios, and SaaS companies on Favro.
  • “Learn From Leaders” Podcast: Conversations with SaaS and Game industry leaders
  • Contact Support: You can do this via the chatbot, email, or booking a meeting through Calendly.

Paymo

  • Help Center: A collection of written tutorials about how to use Paymo
  • Customer Support: Fill in a support request form to get help via email

G. Platforms Supported

Distributed and field teams might not always be armed with laptops or computers. 

But that doesn’t mean productivity has to stop.

With a mobile-friendly project management tool, the workflow keeps humming along, turning those smartphones into mighty workflow tools.

More reason to look into this?

If your company follows a Bring Your Own Device (BYOD) approach, your team members need the freedom to switch between various devices. 

With support for all types of apps, you can:

  • Ensure uniform access irrespective of device type
  • Save on the cost of buying the same types of devices for the whole team
  • Give all team members a chance to log work from anywhere, anytime

Features to look for include: 

  • App support for the latest Mac, Windows, iOS, and Android versions.
  • Maximum coverage for all key features across devices

Favro

  • Browser: Google Chrome, Firefox, Microsoft Edge, Safari
  • Desktop: Mac, Windows, Linux
  • Mobile: iOS, Android

Paymo

  • Browser: Firefox, Chrome (Desktop and Android), Safari
  • Desktop: Mac, Windows, Linux
  • Mobile: iOS, Android

H. Pricing

Whether you have deep pockets or shoestring budgets, there’s project management software out there for every kind of organization. 

But the confusing combination of features and numbers on pricing pages can make it difficult to choose. 

Here are some easy tips for starters.

If you plan on buying the software subscription for just yourself or a small team that’s not likely to grow rapidly anytime soon — stick to the free plan as long as possible. Or pick the cheapest monthly subscription possible. These should cover most of your feature requirements comfortably in most cases. 

However, if you expect to hire rapidly and grow to a sizable number, go for a plan that grows with you — ideally with a per-user rate that doesn’t add up exponentially. 

Finally, most software offers flexible enterprise plans that let you cherry-pick your favorite features into a custom package. If you’re part of such a team, it’s best to contact the sales team and get the best deal possible. 

Favro Pricing

Favro’s pricing plans are structured as follows:

  • Free trial: A 14-day free trial of the Lite or Standard plan
  • Lite ($6/user/month): Five collections, unlimited boards, limited storage, 25 automation actions.
  • Standard ($8/user/month): Everything in Lite plus unlimited collections and storage and up to 5,000 automations.
  • Enterprise (Contact sales for pricing): Everything in Standard plus timesheets, 24-hour support (weekdays), and SAML SSO.

Paymo Pricing

Paymo’s pricing plans are structured as follows:

  • Free: Unlimited users, five clients, 10 projects, and 1GB storage.
  • Starter ($9.90/user/month): Everything in Free, plus unlimited clients and projects, calendar and Kanban views, and 5GB storage.
  • Small Office ($15.90/user/month): Everything in Starter, plus recurring tasks, project templates, and 50GB storage.
  • Business ($23.90/user/month): Everything in Small Office, plus Gantt chart view, employee scheduling, priority support, and 500GB storage.

I. Best Suited To

Picking the right project management tool is like finding the perfect pair of shoes. They must be a snug fit but also leave you some wiggle room to get comfortable! 

In other words, the tool you pick must fit all your current needs and grow alongside your future requirements, too. 

So make sure you’ve covered all bases in your research when picking project management software for your team. 

One way to do this is to check what types of teams your choice serves best. 

For instance, what works for a small software development team might not suit a large marketing agency. 

When hunting for a PM solution, it’s vital to match the tool’s features and use cases with your team’s workflow. Tailor your search to find a tool with all the necessary features to manage your tasks and boost productivity.

Favro Verdict

Favro is a versatile project management platform for agile teams, game development, software and SaaS projects, and enterprises.

Compared to other development-focused PM tools, Favro is fairly user-friendly, with intuitive navigation and features. However, the relative simplicity may limit companies with complex processes.

On one hand, this tool offers commendable controls for overseeing large teams — facilitating collaborative work-sharing, monitoring project progress, and safeguarding confidential information.

On the other hand, some of its features seem underdeveloped compared to more established PM platforms. For example, it has only a handful of views, limited dashboard widgets, no native time tracking, and sparse options for assigning comments or checklist items as actionable tasks.

So, it’s missing some advanced features you might need for a large-scale operation and also doesn’t offer a free plan like you would expect to see for tools targeted to SMEs.

Nonetheless, this tool serves as a reliable organizational hub for small or large companies. While it’s not as feature-rich as some of its counterparts in the software world, Favro is flexible and easy to learn, making it a worthy contender. 

The Favro team does take feature requests and is constantly updating and adding features, so we think it’s one to watch.

Paymo Verdict

Paymo presents a modern and user-friendly interface with a solid set of project management features, offering a comprehensive solution for users.

However, it’s missing some features that are industry staples, like automation rules, task checklists, user groups, and task templates.

Also, some important views and tools are only available in the higher-priced plans. For example, the Gantt view is only in the Business plan, and project templates are not available in the free and starter plans.

In the end, Paymo could do with some advanced and unique features that would make it stand out from the big names in the project management space. However, it covers the essentials for effective project management and provides a free plan, making it worth a try.