Below is an excerpt from the ebook. Complete the form to read the full ebook.
Product Lifecycle Management (PLM) has a very attractive ROI. It helps address the inherent complexity of product innovation, product development, and engineering resulting from today’s complex products and product development landscapes. It’s one of the few initiatives that concurrently drives both top-line and bottom-line results.
PLM implementations on average:
Improve revenue by 13.4%
Grow profit margins by 13.2%
Increase percent of revenue from new products by 15.8%
But getting these returns is sometimes considered too big of an investment. PLM initiatives have historically been known for long, expensive implementations. Most manufacturers no longer have the appetite for software projects that don’t show an ROI in the first year or so.
So many choose not to get started because they expect high costs, a long payback period, and a significant need for internal IT resources.
Our research, however, shows that the majority of PLM implementations are faster and less expensive than most think. We believe one of the reasons for so many lower-than-expected implementation efforts is the changing way that companies are buying and deploying PLM. Cloud, SaaS, subscription, and other options are changing the underlying factors that impact implementation investments.