Product Cost Management Software

Product Cost Management Software Overview

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 Products

(1-11 of 11) Sorted by Most Reviews

The list of products below is based purely on reviews (sorted from most to least). There is no paid placement and analyst opinions do not influence their rankings. Here is our Promise to Buyers to ensure information on our site is reliable, useful, and worthy of your trust.
Teamcenter

Teamcenter® software is a product lifecycle management (PLM) system that connects people and processes, across functional silos, with a digital thread for innovation. The vendor states the breadth and depth of the Teamcenter portfolio mean that users can solve more of the tough challenges…

aPriori

aPriori aims to help design and manufacturing teams around the globe create the products of the future. aPriori is a provider of digital manufacturing software that brings product design, sourcing teams, and supplier teams closer together to close the gap between design and production.…

Boothroyd Dewhurst DFMA Software

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.

SEER by Galorath

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.)

LeanCOST

Hyperlean, headquartered in Ancona, offers LeanCOST, a product cost management software for generating cost estimates and reducing time and cost associated to manufactured products.

FACTON ECP Suite

The FACTON ECP Suite, from the company FACTON headquartered in Potsdam, is a product cost management software suite.

PRICE Cost Analytics (PCA)

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…

SiliconExpert

SiliconExpert Technologies headquartered in Cambridge offers a bill of materials management suite, providing part search, and product cost management.

ImpactECS Enterprise Cost + Profitability Platform

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 replacing spreadsheets, retiring legacy applications and expanding ERP capabilities, ImpactECS…

CostPerform

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.

EasyKost

Collaborative SaaS software for cost estimating and data mining.Easykost is offered as a solution to improve design-to-cost and time-to-market performance, create operating synergy between the various jobs and functions, streamline and professionalize the costing and quotation activities.…

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.

Frequently Asked Questions

What does product cost management software do?

Product cost management software maximizes product profitability by controlling the costs of product development and manufacturing. Its analytical tools estimate, predict, and track the costs and profitability of a product by identifying the major cost drivers and modeling options and actual results during a product’s concept, engineering, development, and manufacturing stages.

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

How much does product cost management software cost?

Most product cost management software is customized to meet the business’s needs. Thus, pricing depends on the range of features included and the scope of the business operation. Interested buyers should reach out to vendors for pricing quotes.