TerraPLM:
Where Innovation Meets Opportunity
Product Lifecycle Management (PLM) has traditionally been a strategic approach of the manufacturing industry to manage and streamline the entire product development process. PLM is a solution that provides the capabilities companies need to successfully manage information and facilitate collaboration across the entire product lifecycle from idea inception all the way through retirement. PLM has emerged as the primary means by which to improve product development processes across the value chain to deliver the most business impact.
With the complexity of regulatory requirements and the demands by customers for more custom products, non-manufacturing industries such as financial services and insurance have sought the benefits of PLM. When developing products that are customized for the end user such as new health insurance plans, financial services products, or telecom plans, innovative companies have already realized the measurable gain by using PLM concepts around four major areas:
- Improve development processes around products
- Speed to market of new products
- Reduce and control product development costs
- Increase flexibility and innovation around product development
A PLM approach and strategy will differ for each company; however, there are infrastructure commonalities across all companies and industries:
- A central repository to maintain all product data information that can be accessed , leveraged and shared across the enterprise
- A standard definition and structure that encompasses all products and components that make up a product
- Configuration capabilities to assemble product components to create new products
- Collaboration and workflow capabilities to share information and manage the entire lifecycle of a product
- Integration into other enterprise systems
TerraXML is uniquely positioned to provide the expertise, experience and technology to guide companies toward a PLM for Services paradigm with our TerraPLM™ framwork based on best practices, best of breed technology and methodologies to bring measurable success to your PLM projects.
Figure 1. TerraPLM Repository for Product Data Management
TerraXML services the following industries:
- Financial Services
- Healthcare Insurance
- P&C Insurance
- Life Insurance
- Publishing
- Energy
- Government and Legislative
- Telecom
Please contact us at terraplm@terraxml.com for more information on TerraPLM™..
