85% of Top Performing Organizations Rely on Product Configuration Management to Deliver Key Business Objectives
COPENHAGEN, Denmark, Sept. 19, 2023 /PRNewswire/ — According to the findings of a new IDC InfoBrief, sponsored by Configit, the global leader in Configuration Lifecycle Management (CLM), manufacturing companies striving to optimize product portfolios and increase profits, are increasingly looking to product configuration management as a competitive advantage.
The IDC InfoBrief, based on a survey of 511 discrete manufacturing companies in North America and Europe, provides a deeper dive into how companies are grappling with product complexity, how this is driving priorities and what the most successful companies are doing to get ahead.
The full IDC InfoBrief, “Orchestrating Product Configuration Management: The Secret Weapon of Leading Manufacturers*,” is available for download here.
Among some of the other the findings:
- The top three business concerns for manufacturers are improving product delivery/installation, managing the product portfolio and ensuring product quote accuracy.
- 33% say that connecting product design and engineering with sales and service is a top goal for the coming year.
- 85% of the best-performing manufacturers are using product configuration management solutions to deliver key business objectives.
John Snow, research director, product innovation strategies, IDC, said: “Product complexity creates challenges across the enterprise and it’s a driving factor behind manufacturers’ top business concerns. Our research revealed that on average, manufacturers are currently using three different configuration tools, and organizations are developing cross-functional product configuration management strategies that can achieve multiple business priorities. This, in turn, is driving the need for applications that can simplify configuration management processes, and inherently improve collaboration.”
Johan Salenstedt, CEO, Configit, said: “Product complexity is only increasing, and companies looking to reap the benefits of digital transformation must re-think their product configuration strategy. In an ever-evolving landscape, where adaptability is key, this research equips businesses with the knowledge to not only navigate challenges but to leverage their product configuration approaches, and by connecting their already implemented product configurations, creating a single source of truth as a catalyst for growth and innovation.”
*doc #US51047923, September 2023
About Configit
Configit is the global leader in Configuration Lifecycle Management (CLM) solutions and a supplier of business-critical software for the configuration of complex products. All Configit products are based on the patented Virtual Tabulation® (VT™) technology, which has redefined product configuration by offering greater speed and better handling of complexity. Virtual Tabulation enables Configit to deliver powerful, easy-to-use configuration solutions to market-leading global enterprises. Website: configit.com
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