Developing innovative products at competitive prices

Product design and engineering have to constantly juggle between limited R&D budgets and a tremendous pressure to innovate. Across all industries the main challenge lies in the development of innovative products at competitive prices.

By providing objective and consistent costing data FACTON® EPC creates transparency of multinational multi-project landscapes, which are usually characterized by a closed shop mentality. FACTON’s support of innovative methods helps reduce the great uncertainty accompanying a high risk in the early phases of product development.

Successful R&D cost management can add value in two ways: with an effective distribution of the R&D budget as well as through pro-active modeling of product costs and life cycle profitability. FACTON enables quick assessment of future product costs during the innovation process and thus facilitates, as part of a technology monitoring process, the selection of competitive concepts for pre-design out of the entire pool of ideas.

Proactive modeling of future products costs can be achieved with the methods (e.g. target costing or measures management) and simulation options (locations, time of investment, investment duration, sales volume) supported in FACTON.