The benefits of product lifecycle management (PLM) systems

Product lifecycle management (PLM) improves how organizations manage engineering data, processes, and products, providing a quantifiable return on investment (ROI). Top-performing companies are 47 percent more likely to use PLM, and as a result, they’re more likely to develop and design innovative products more quickly.

Watch the video to learn more about PLM return on investment (ROI) and how to justify its cost. Engineers spend up to a third of their time on non-value-added tasks and smaller jobs that can easily be automated with a PLM system in place.

Find out how these time savings and other benefits can lead to higher profit margins in the video.

What are the main business benefits of PLM?

Engineers may be the first to experience the benefits of PLM, but the ripple effect can be felt throughout an organization. Higher engineering efficiency translates into faster time to market and better customer satisfaction. Additionally, better visibility to designs and get products right the first time, reducing the number of recalls and warranty work. Plus, manufacturing and sourcing can get started sooner, so production can ramp up quickly to meet customer demand. All of this leads back to improved customer loyalty and a larger market share. Watch the video to learn more about the benefits of PLM and getting a higher PLM ROI.

PLM: Where is the return on investment (ROI)?

This video, “The Payback of PLM,” is the third in a three-part series covering product lifecycle management solutions and the journey toward a more productive way of being innovative. Catch up on the other videos:

Choosing your path to PLM: Are you better off managing data manually? Or is a PDM or PLM solution the right one?

Getting started with PLM: Get easy access to pre-configured, quick-start delivery options for PLM.

The payback of PLM: Is PLM worth it? The short answer is yes, and this video shows why.

These three short videos aim to guide viewers along their journey to the right PLM solutions and discover the return on investment.

How cloud PLM saves time and money

Cloud-based Software-as-a-Service (SaaS) PLM offers a customizable solution for both large corporations and small to medium-sized businesses with plenty of benefits:

• Efficiency: Tailored solutions to meet specific needs
• Productivity: In-depth understanding of company workflow
• Fast implementation: Immediate access through a browser
• Distributed total ownership: Subscriptions don’t require a large, up-front technology investment
• Extended collaboration: Enable input from internal and external stakeholders
• Security: Intellectual property remains secure

With a SaaS PLM solution in place, everyone involved in product development gains quick and easy access to the data they need with little to no IT support.

Take a look at Teamcenter X and sign up for the free trial to see how you can get started quickly and cost-effectively to drive cross-domain engineering productivity for greater product innovation.