Is product lifecycle management system software right for you? The following are four reasons why it might be.

Sales Makes Unattainable Promises

A complete and effective product lifecycle management system software will include every conceivable data point for a particular product. If your sales department is routinely making promises your product cannot deliver, it indicates either a sales force that needs retraining or that is not fully familiar with what the product they are selling can do. A little of that is ok, but not preferable; a lot of it can lead to dissatisfied customers and in the worst case scenario, former customers.

Lifecycle management software allows everyone involved in a product to instantly check on the status of the product, its features and what those features cost. It lets sales update customers and potential customers with a few clicks of a button. Most importantly, it ends having to tell a customer that something that was promised is not available.

Product Project Status is Unknown

Just about all of us have sat in a meeting and been asked about a project or product status and not known the answer. The worst is when it has been asked in front of or buy a customer. The best product lifecycle management software lets you know instantly where a project or product is in the lifecycle and its availability. This not only helps avoid an embarrassing situation, it also aids in planning workforce assignments and sales and marketing strategies. Additionally, it can up date the user instantly on project status, which can aid in management decisions.

Bottlenecks in the Lifecycle

If you do not know the true status of a product, you cannot pinpoint and address obstacles you run into. That can lead to ill informed decisions, surprise delays and  missed deadlines. Lifecycle management software lets you see where a project has bogged down and also lets you track multiple projects to see if you have a particular area of your business that is always delaying progress.

Making Decisions with Incomplete Information

This ties into the issue above, but goes beyond it. Often, real-time customer feedback can lead to product management decisions. These can include expanding a product offering, adding wanted features, modifying a marketing campaign or even terminating a product that does not live up its billing. Without product lifecycle management software, those decisions will be based at least in part, on incomplete data.

Some products do not need constant monitoring. Most, though, do. If your company encounters any of the above issues you likely do need product lifecycle management system software and will see dividends as soon as you incorporate it into your business management system.

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