Product Cost Management Software
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Teamcenter is a product lifecycle management system designed to help organizations integrate and standardize product development processes across functional silos.
aPriori provides design and sourcing Insights to unlock and identify new opportunities for reducing product…
The ImpactECS Enterprise platform is designed for finance, operations, commercial, and executive teams who need deeper cost and profitability insights but are limited by technology. By re…
Boothroyd Dewhurst, headquartered in Rhode Island, offers DFMA Software for product cost management, including DFA Product Simplification for locating cost drivers, and DFM Concurrent Costing for design and costing comparison and analysis.
Ceeview Cloud Cost & Budget Monitoring is a tool that gives users a clear view of their cloud costs and resource utilization in order to help them control expenses and optimize their cloud environment.
It allows users to avoid budget overruns, monitor resource usage, predict f…
MTI Systems is a provider of Computer-Aided Cost Estimating (CACE) solutions for the manufacturing industry, serving both OEM's and their suppliers. Costimator is cost estimating and quoting software, designed specifically for manufacturing, used worldwide for product costing and…
SiliconExpert Technologies headquartered in Cambridge offers a bill of materials management suite, providing part search, and product cost management.
CostPerform is a product cost management software platform from the company of the same name in Vianen, designed to help users find the answers to the toughest cost and performance questions.
Hyperlean, headquartered in Ancona, offers LeanCOST, a product cost management software for generating cost estimates and reducing time and cost associated to manufactured products.
PRICE Systems headquartered in Mount Laurel offers PRICE Cost Analytics (PCA), a suite of software tools for price cost management, including TruePlanning analysis and estimating, TrueFindings database of benchmarks and other information for analytics, and TrueMapper to provide…
Allpriser Winpriser from Trimble MEP is a material pricing solution. The pricing software allows users to look up material pricing, store discounts from several suppliers and update an estimating database more efficiently (Only in Canada). Users can generate bill of materials, invoices,…
Galorath, headquartered in El Segundo, offers SEER, the company's product cost management software. SEER is offered in a number of different versions to suit the needs of products in different verticals (e.g. software, aerospace, manufacturing, etc.)
DFMPro, from HCL Technologies, is a CAD-integrated design for manufacturing software helps users identify and correct downstream issues early in the design stage, to drive reduction of cycle time and, in turn, high-quality products with lower product development costs.
The FACTON ECP Suite, from the company FACTON headquartered in Potsdam, is a product cost management software suite.
Learn More About Product Cost Management Software
What is Product Cost Management Software?
Product cost management software estimates and predicts the costs and profitability of products over their entire product life cycle. The software is used to maximize the profit of products by making a product the most cost-efficient.
Analytics tools identify the major cost drivers based upon the technologies, machines, materials, and labor employed. It uses historical data and current data as benchmarks for estimating and predicting future costs. It tracks actual costs versus predicted costs.
Companies that develop and manufacture products use the software to ensure a product meets its cost and profit goals. Within an organization, product cost management software is used by research, product development, cost engineering, purchasing, and sales teams.
The software uses machine learning and AI, offering analytical tools that are deployed in the concept, engineering and development, and the manufacturing, commercial production stages of a product.
Product Cost Management Software Features
- Compares design options for feasibility and cost-effectiveness
- Cost simulation for different manufacturing technologies, materials, suppliers, and labor markets
- Value analysis
- Aid in procurement and make vs. buy parts decisions
- Cost targeting analysis
- Price targeting analysis
- Capital asset justification
- Cost-volume-profit analysis
- Breaks down annual costs, revenues, and cash flows
- Calculates internal rate of return, net present value, and payback periods
- Records and shares product cost information
- Collaboration tools across functions and suppliers
- Dynamic dashboards, real-time modeling, and reporting
- Cloud and on-premises options
Product Cost Management Software Comparison
Consider the following when purchasing product cost management software:
- Scope: Are you also in the market for product lifecycle management software? If so, PLM software often includes a product cost management component. However, its features may not be as robust or extensive as a stand-alone product cost management product.
- Scalability & Versatility: Ensure your selection has the scale and features to support your company’s growth and industry.
Pricing Information
Product cost management software is tailored to a client’s needs, pricing depends on the features selected and scale of the operation, requiring a vendor quote.
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Frequently Asked Questions
What does product cost management software do?
What are the benefits of using product cost management software?
- Improved profitability
- Better investment decisions
- Improved budgeting
- Provides cost transparency
- Facilitates product development and decision making
- Better resource planning
- Accelerates time to market
- Wins more business - expedites accurate price quote responses
- Improved supplier relations
What are the best product cost management products?
Some of the more popular product cost management products include: