Latest EPC Should Costing Solution Software Integrates the Use of Cost Models

FACTON Inc. Dec 04, 2019

Press Release Summary:

Offers universal availability option that simplifies the uniform and company-wide use of the centrally stored formulas and rules for cost evaluation
Features details view option that provide grouping adjustments, optional display or hiding of properties when calculating material quantities, and 3D view of model variants and mold types
Users can now document the confidence level, and the probability for the accuracy of an assumption leading to the estimation of a price for each BOM element

Original Press Release:

FACTON Announces New Version of its EPC Should Costing Solution

Users apply cost models from the FACTON EPC Cost Model Designer directly in the EPC Should Costing solution

TROY, Mich. – December 3rd, 2019 – FACTON, a leader in Enterprise Product Costing (EPC), today announced the release of its FACTON EPC Should Costing solution, Version 11. It is the solution for should costing in the FACTON Enterprise Product Costing (EPC) Suite. The latest version integrates the use of cost models from the FACTON EPC Cost Model Designer in the Should Costing solution and includes new functions for improved usability. The FACTON EPC Design Costing solution also offers new functions for improved usability.

Manufacturers and parts suppliers can apply cost models from the FACTON EPC Cost Model Designer directly in version 11 of the platform-based FACTON EPC Should Costing solution.

To ensure the validity of cost accounting figures for a particular manufacturing technology, such as casting, molding, and machining, companies use calculation rules called cost models. With the FACTON EPC Cost Model Designer, cost experts can create company-specific models for cost evaluation and share them directly within the company. All digitally available specifications appear in the new version of the FACTON EPC Should Costing solution. The universal availability simplifies the uniform and company-wide use of the centrally stored formulas and rules for cost evaluation. Users create repeatable calculations and increase the maturity and accuracy of the calculations through the models. They can extend and adapt the FACTON EPC Should Costing solution with their company specific cost models.

"With version 11, we have integrated our EPC Should Costing solution with the Cost Model Designer. Gaining access to company-owned cost models in the purchasing solution, our customers can now calculate their production and product costs at a reasonable cost and evaluate them on the basis of valid key figures," says Alexander M. Swoboda, CEO of FACTON.

Using the cost models directly in the calculation software avoids error-prone manual steps. With each calculation, users benefit from an automatically generated bill of materials (BOM) based on rules and formulas. Users avoid manual errors in the creation of the BOM and gain a high degree of cost transparency. The use of centrally provided cost models ensures that users can calculate production processes that correspond to the real production conditions on the shop floor.

New Features of FACTON EPC 11 Should Costing

The cost model for machining, for example, is integrated into the scope of delivery.
The overview for the output of query results for materials and machines has been optimized.
In the information section of the software – Details View – the solution delivers innovations for better usability: grouping adjustments, optional display or hiding of properties when calculating material quantities, and a 3D view of model variants and mold types.
Users can now document the confidence level, and the probability for the accuracy of an assumption leading to the estimation of a price for each BOM element.

New features of FACTON EPC 11 Design Costing

Costing staff can reuse the generated calculations to determine the costs of assemblies and parts.
In the information section of the software - Details View - new features for better usability have been implemented analogous to the FACTON EPC 11 Should Costing.
The option to document the confidence level for each BOM element was implemented analogous to the innovation of FACTON EPC 11 Should Costing.

The FACTON EPC Suite
FACTON EPC 11 Should Costing and FACTON EPC 11 Design Costing are part of the FACTON EPC Suite. The Suite consists of specific solutions that address the product costing requirements of different company departments and divisions – from top management, controlling and production to development, purchasing and sales.

About FACTON GmbH
The FACTON EPC Suite is the leading Enterprise Product Costing (EPC) solution for the automotive, aerospace, mechanical engineering and electronics industries. Its specific solutions offer robust answers to the requirements of executive management and individual departments within the enterprise. FACTON EPC enables standardized, enterprise-wide costing independent of location and department for maximum product cost transparency throughout every phase of the product life cycle. Businesses accelerate their costing, achieve pinpoint cost accuracy and secure their profitability.

FACTON GmbH was founded in 1998 and has locations in Potsdam, Dresden, Stuttgart and Detroit. Hasso Plattner, founder and chairman of the supervisory board of SAP SE & Co. KG, has supported this innovative company since 2006. The international portfolio of customers includes Airbus, Mahle Behr, Deutz, MANN+HUMMEL, Porsche, Ford Motor Company and other renowned OEMs.