I think the other main thing that could be improved is integration with other tracking software.
I work in testing. The main thing I see is projects using more than one project or defect management tool. I feel is an area that could be seriously disrupted.
For example... One project I worked, we had the developers (external company) using JIRA, whilst we used Smartbear ALM.
So I ended up writing something that used both the JIRA and ALM API's to save me updating two systems. Imagine if this functionality was out of the box?
Off topic but I've used a lot of ALM's, never Smartbear. A few sentences on how you like it compared to other products would be great!