Cloud Based Product Lifecycle Management (PLM) Software is an essential feature for your small or medium sized business’ PLM.
When it comes to choosing an affordable PLM product, you are looking for increased efficiency and long-term savings. While many PLM products charge you for features you will never use, a cloud PLM is worth finding and implementing.
Here are a few of the ways that cloud-based PLM increases efficiency:
1. Opens Partner Options
When your PLM is everywhere, your employees can be anywhere. Cloud PLM increases your ability to look further for suppliers, intermediaries, and customers.
One of the main advantages of a PLM system is providing accurate and up-to-date information to everyone within your company. But when you have to abandon that resource every time you leave the office the usefulness of your PLM solution is impeded.
With a cloud-based PLM you will be in a position to negotiate with with a supplier across the country just as easily as down the street.
2. Positions you for Expansion
Traditional PLM solutions bind your company to the home office. Expansion requires a simultaneous PLM rollout in a new location.
Cloud-based PLM opens up your company’s flexibility. You can open and close regions without a single additional cent added to your PLM expenses. Any expansion comes with risks. A cloud-based PLM helps you to reduce those risks.
3. Allows Employee Flexibility
The research has been clear about the benefits of allowing employees to work from home. In one survey, 95% of employers said telecommuting impacted retention, significantly reducing training expenses.
Which isn’t to mention that on average, a full-time telecommuter saves a company $10,000/employee/year—significant savings that a cloud PLM could open up. And while many employers worry about productivity, over two-thirds of employers report that productivity actually went up among their stay-at-home employees. These savings are all but impossible for companies with PLM systems without cloud-based functionality.
4. Opens up Contractor Options
Small and medium sized manufacturing firms often rely on contractors. Companies that use traditional PLMs limit themselves to hiring contractors in their geographical region.
A cloud PLM, on the other hand, allows you to search the worldwide marketplace for an affordable and competent contractor. A cloud-based PLM provides significant savings every time you bring on a new contractor by widening your talent pool.
If you are a small or medium sized business, a cloud-based PLM could open up many additional savings and options beyond what a traditional PLM solution could.
To learn more about 4G:PLM, the next-generation of cloud-based PLM priced at just $50/user per month, view our 4G:PLM demo video.