Current Trends in PLM
Everywhere you look, everyone’s talking about digital transformation. But the more you hear it, the more unclear everyone is about what “digital transformation” is. Is it the Uber-ization of your industry? Or is it about the Internet of Things (IoT)? Or big data? The truth is that it can be a combination of any of them.
So while digital transformation is a real phenomenon, consider which digital trends are most appropriate to your company and your industry. Also consider whether Cloud PLM software (also known as SaaS PLM) can help address these top PLM trends from industry experts and analysts.
- Internet of Things (IoT): With connected products, companies need to be able to intelligently monitor and analyze all the information being captured by their products. PLM software should be able to help companies use IoT data to proactively prevent quality issues, update products in the field, and better understand customer trends.
- Software is eating the world: IoT devices are the latest products having more and more software, whether it’s firmware or related apps. To succeed in the market, companies are finding that the collaborative capabilities of cloud PLM software are helping them sync development efforts across hardware, firmware and app development.
- Social media: Customers are using Twitter, Facebook, Instagram and more to tell everyone what they think about your products. Make sure your PLM software can help you incorporate and respond to this feedback as part of your development, marketing and support processes.
- Big data is getting bigger: With all the data being generated by IoT, marketing campaigns and multi-channel sales, some companies are using PLM software to better understand, share and collaborate on trends that are typically siloed within departments.
- 3D printing: As 3D printing becomes more prevalent in our homes, PLM software needs to become more consumer-friendly. If companies want to collaborate with end consumers on CAD designs and all other product information, they need PLM software that’s easy to use and easily accessible to anyone, anywhere.
- The Participation Economy: Social media, IoT, crowdsourcing, and 3D printing are all examples of how technology is making customers much more engaged and active with businesses. And this shift isn’t just for B2C companies - the same attitudes we have in our own personal life are carrying over to the B2B world as well. Cloud PLM software is helping customers in all industries shape product designs, promote brands and raise product issues.
- Customer Engagement: When most people talk about Customer Experience, they think about Marketing and Customer Service. But customer engagement affects every department - all the way into design. So if you’re in a company that makes custom products for your customers, whether they’re automotive products, specialty chemicals or HVAC equipment, PLM software can help you better engage with your customers.
- Cloud PLM: Sooner or later, almost everything is moving to the cloud. More secure and stable than on-premise systems, cloud platforms like Salesforce and Amazon Web Services (AWS) are used by the world’s largest companies to store sensitive sales information, financial data and software IP. Redundant security controls and fine grained privilege models can keep the most sensitive PLM data hidden from prying eyes.