Symphony Announces PLM Services
Symphony Service Corp. today announced its Product Line Management (PLM) services, which claim to extend product life as well as bring more functionality to client’s existing software products.
The company’s PLM service offerings center on Outcome Certainty-based engagement models that deliver measurable ROI to clients, typically focusing on the management of core or legacy products.
The company says that its clients have found that Symphony Services’ PLM services result in better integration strategies between older and newer product versions and significantly increased revenue from older product lines.
Industry analysts estimate that up to 80 percent of R&D budgets are allocated toward maintaining legacy products. When the resources of a seasoned, in-house R&D team are applied in this way, the organization’s bottom line suffers because older product lines have less functionality and, by extension, decreased support levels. Moreover, allocating too many resources to older products significantly limits a company’s ability to take advantage of high-growth market opportunities.
The company claims that its PLM services mitigate the challenge of having too many R&D resources committed to legacy product lines, when their time and expertise are better spent developing new products to ensure the company stays ahead of evolving market demand. The company has, on average, reduced clients’ product management costs by over 25 percent; extended product life related revenue by up to 50 percent; and lowered support costs by 40 percent - all without sacrificing on outcomes.
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