Task Management Software

Is there any software out there that allows me (and my colleagues) to assign tasks to each other and also allows our managers to keep track of our progress.

Outlook can happily assign tasks and keep track but there's no way of the managers seeing what tasks we all currently have assigned and what the progress is on them.

Thanks guys and gals...

You can also try free SharePoint offered by CloudAppsPortal which helps you to manage your tasks online without any hassles.
With this Online Task Manager, you can Create, manage, and share unlimited tasks from wherever you are.

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