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To get your product to market on time, the ability to get up and running quickly with a product lifecycle management (PLM) system can make or break a project. Time to Value (TTV) has become a key metric in assessing the effectiveness of PLM implementations.
Unlike traditional on-premises PLM systems, which can take months or even years to deploy, cloud-based PLM solutions deliver value in days or weeks. This guide explores the importance of time to value in modern product development and how cloud-native PLMs like Duro help achieve it.
What is Time to Value?
Time to Value (TTV) refers to the time it takes for an organization to realize the benefits of a new system or solution after its implementation. In the context of a PLM system, this means the time it takes from the installation to when your engineers fully utilize the system to manage data, collaborate on designs, and make informed supply chain decisions.
Why Optimizing Time to Value is Important
Traditionally, PLM implementations have been complex, costly, and time-consuming. Companies often face long deployment times, extensive customization efforts, and cumbersome data migration processes. An on-premises PLM system could take 6-12 months to be fully operational, costing valuable time, resources, and productivity. If data migration, heavy customization, and multiple integrations are required, this time span could increase to years rather than months.
Some of the key reasons that time is critical are listed below:
- Faster ROI: A shorter TTV means the company realizes the return on investment (ROI) sooner. In competitive industries like manufacturing or consumer goods, faster ROI through streamlined operations or quicker product development cycles can be a key differentiator.
- Minimized Risk: A longer TTV can indicate delays in deployment or adoption, leading to increased risks like cost overruns, project fatigue, and reduced stakeholder buy-in.
- Enhanced Competitive Advantage: By reducing the time it takes to implement new systems and gain value, companies can respond more quickly to market demands, adjust to new trends, and innovate faster, all of which are critical in fast-moving industries.
- Increased Stakeholder Confidence: A smooth, quick TTV reassures internal and external stakeholders (like executives or clients) that the chosen PLM solution is effective, leading to more robust buy-in for future digital transformation initiatives.
Businesses can optimize their cloud PLM implementation by calculating time to value and comparing different deployment approaches. This ensures they quickly meet technical and operational goals and drive tangible, measurable value.
How to Calculate Time to Value for Cloud PLM
Time to value can be calculated by focusing on two key phases:
- Deployment Time: This is the time required to configure, integrate, and roll out the cloud-based PLM system across teams and processes.
- Value Realization Time: This measures the time it takes for end-users to adopt the system and for the business to achieve specific use cases, such as reduced product development cycles, improved collaboration, or more efficient data management.
Steps for calculating time to value:
- Define Key Value Milestones: Identify specific outcomes that signal value creation, such as reducing product design time by a certain percentage, minimizing design revisions or errors through enhanced collaboration, and achieving faster time-to-market for new products.
- Track Time to Milestones: Measure how long it takes from deployment initiation to reach these milestones. For example, if the PLM system reduces product design iterations by 30%, calculate how long it takes for the teams to reach this reduction after system deployment.
- Monitor End-User Adoption: High user adoption generally correlates with faster time to value. Measure the time it takes for end-users to become proficient with the new PLM tools, which will impact overall TTV.
While time to market focuses on how quickly you can bring a new hardware product to market, TTV focuses on how quickly your team can use a system to generate measurable benefits. A long TTV can be a significant bottleneck in industries where development timelines span months or years, delaying innovation and increasing costs.
The Risks of Long PLM Deployments
The longer the implementation time, the greater the risk of disruptions. Delayed implementation impacts not only the efficiency of product development but also has far-reaching consequences for operations, teams, and overall business performance.
Here are the key risks and disruptions that can occur when a PLM deployment goes over the planned implementation time:
- Delayed ROI (Return on Investment): A slow PLM implementation delays cost savings and efficiency improvements, while ongoing expenses for software and resources accumulate without delivering expected returns.
- Increased Project Fatigue and Resistance: Extended implementations lead to team fatigue and resistance to change, as employees lose motivation and stick to familiar legacy systems, delaying full adoption
- Competitive Disadvantage: Delays in PLM deployment increase the risk of falling behind competitors, slowing innovation, and hindering the launch of new products and features.
- Extended Supply Chain Disruptions: Until PLM is fully deployed, supply chain miscommunications, late deliveries, and regulatory risks can persist, affecting product quality and compliance.
- Increased Costs Due to Parallel Systems: Maintaining both legacy and new PLM systems during a prolonged implementation doubles maintenance costs and strains key personnel.
- Lost Agility in Product Development: A delayed PLM rollout reduces agility, slowing the company’s ability to respond to market changes and bring new products to market quickly.
How Can Duro Help Achieve Faster Time to Value?
1- Deployment Time
Duro’s cloud-based PLM significantly reduces deployment time, contributing to faster Time to Value by eliminating the need for complex on-premise installations and IT infrastructure management. This streamlined, out-of-the-box deployment means your teams can begin working with the platform immediately, allowing engineers to quickly integrate CAD data, collaborate in real-time, and make informed supply chain decisions without the usual delays associated with traditional PLM implementations. This rapid deployment accelerates value realization, enabling businesses to focus on product innovation from day one.
2 - Instant Scalability
Duro’s cloud-native architecture eliminates the need for complex hardware setups or IT infrastructure management. You won’t have to deal with servers or system maintenance—Duro handles it all in the cloud. This allows your team to focus on product development rather than managing infrastructure, enabling immediate scalability as your business grows.
3 - Rapid Data Migration
Data migration can often delay the implementation of new systems, especially when dealing with complex CAD files. Duro streamlines critical data migration, such as SolidWorks designs, ensuring that your engineers can continue working seamlessly during the transition and reducing the typical downtime associated with traditional PLM migrations.
4 - Real-Time Collaboration
Duro facilitates real-time collaboration across teams, regardless of their physical location. Engineers and designers can synchronize data instantly, allowing faster iterations and decision-making. This removes bottlenecks in your design process and accelerates your project timelines. Notifications in collaboration tools like Slack also help keep team members in sync and up to date.
5 - Out-of-the-Box Integrations
Duro’s cloud PLM accelerates time to value through its out-of-the-box integrations, which are included in the subscription at no additional cost. These pre-built integrations, such as with SolidWorks and Altium 365, allow teams to immediately connect their existing tools and workflows to Duro’s platform without the need for lengthy customization or additional third-party software. By providing these integrations upfront, Duro eliminates the hidden costs and delays of custom development, allowing businesses to unlock value faster and with predictable costs
6 - Seamless Supply Chain Management
Duro’s integrated supply chain management tools allow you to manage real-time supplier relationships, lead times, and production schedules. There’s no need for complex integration phases—Duro offers immediate access to supply chain data, enabling faster, more informed decisions that directly affect your time to market.
7 - Minimal Customization Required
Traditional PLM systems often require extensive customization, adding time and cost to your implementation. Duro, on the other hand, comes with robust, out-of-the-box features designed to fit the needs of most businesses. Duro’s cloud-based platform enables quick and easy adjustments for those needing custom solutions, minimizing downtime and accelerating system adoption.
Accelerate your Time to Value with Duro PLM
When you choose Duro, you equip your team with the tools to focus on product innovation. With easy integration for platforms like SolidWorks and Altium 365, your team can immediately leverage Duro’s powerful collaboration and supply chain management features. This rapid onboarding drastically shortens Time-to-Value, meaning your company can start experiencing the benefits almost immediately after deployment.
Duro’s cloud PLM is a game changer in industries where speed, collaboration, and informed decision-making are critical to success. Compared to traditional PLMs, the platform’s ability to deliver immediate value makes it ideal for companies looking to reduce project risk, improve efficiency, and bring products to market faster. By focusing on TTV, Duro ensures you’re getting the most out of your investment from day one, with predictable costs and a scalable system that grows with your business needs.
