Reliable Planning and Fast Decisions for Development Projects and Digitization Efforts with the New FACTON EPC Solution “Project and Service Calculation”
Software manufacturer FACTON has released a new solution of its EPC Suite that enables companies to reliably secure strategic decisions in digitization and development projects. The EPC application Project and Service Calculation gathers development costs and costs for intangible goods in global processes with a maximum of efficiency.
As a result of the digital transformation, industrial companies are increasingly facing the challenge of integrating new projects with unknown cost variables over specific terms into a cost estimate and quotation costing.
FACTON, manufacturer of the Enterprise Product Costing (EPC) Suite, provides with its new EPC solution Project and Service Calculation an application for the reliable calculation of development costs as well as costs for intangible goods such as software, service, and maintenance services. With calculations of project and service costs that are globally available, the costs, key performance indicators and risks of a project are transparent at all times. Real-time calculation over the project life cycle offers a competitive advantage.
"Our EPC solution for Project and Service Calculation addresses the challenges of digital transformation with planning reliability and quicker response times. Whether cloud-based services, MRO costs or pure software development, by using FACTON EPC every project and every service can be carefully planned from the beginning as well as controlled and optimized over its lifetime," says Alexander M. Swoboda, CEO of FACTON.
Users of the EPC software are able to create preliminary calculations in the early phase of product development and in series support using a freely definable project structure, so-called work breakdown structure, as well as over the entire term. Development costs can be taken into account at an early stage in project calculation and quotation preparation. As a result, response times in tenders are significantly shortened.
The enterprise solution extends the existing IT landscape and guarantees reliable cost planning with the greatest possible transparency.
Advantages and functions at a glance:
- Flexibility in costing through freely definable project structures, so-called work breakdown structures, in which several cost items can be gathered and evaluated for each element.
- Reliable cost evaluation based on expenses as well as allocation rates of the executing cost center of a location or via simple estimation procedures.
- Increased reliability in determining expenditures by using a three-point estimate to provide a best, most likely, and worst-case estimate.
- Rapid identification of risks through targeted risk assessment as well as documentation of uncertainties along the project structure.
- Quality assurance with an automated assessment of calculation-based quality based on risk assessment, complexity level and confidence level, among other things.
- Flexible planning of large projects or projects with different areas of competence and responsibility by working in subprojects.
- Easy administration of master data centrally in the application or by import from complementary solutions such as ERP systems.
Learn more about the topic of Enterprise Product Costing.