Webinar: 20th of March @11AM - Practical Guide to Product Cost Benchmarking for Competitive Advantage
Learn how a leading Tier 1 supplier achieved resource optimization and accurate cost calculations by adopting Tset’s product costing software. From automated calculations to enhanced cross-department collaboration, see why Tset was the preferred choice over alternative solutions.
In an industry characterized by rapid technological advancements, increasing regulatory demands and intense competition, it is critical to maintain efficiency in product costing and cost engineering for companies striving to stay ahead. To address these challenges, organizations need solutions that streamline operations while focusing on precision and supporting collaboration across departments.
This article explores how a leading global Tier 1 supplier in the automotive industry achieved resource optimization and more accurate cost calculations by leveraging Tset’s advanced product costing software, thereby surpassing other market offerings.
Tset’s product costing software provides automated calculation modules that are powered by advanced material and cycle time calculators. These modules streamline bottom-up product costing, minimizing manual calculations and repetitive tasks. Developed in collaboration with industry leaders like ZF and Brose, these modules ensure scientific accuracy and high reliability.
Unlike other market solutions, Tset’s integrated automatic calculation modules recalibrate automatically during bulk simulations, such as changes in production volumes or relocations. This feature eliminates manual recalculations in complex assemblies, which saves time and significantly reduces errors – an advantage that helps Tset stand out from other software solutions. See Tset’s automated calculation modules in action. Check out our Injection Molding Calculation Module video.
A unique feature of Tset's product costing software is its ability to work with 3D files and shapes. This capability accelerates calculations at various stages of product development, even at stages where you don’t have a 3D design such as e.g. early target setting or benchmarking.
Tset’s product costing software offers pre-configured cost modules and a master data service specifically tailored for the automotive industry. Currently these modules cover
This ensures that changes to parts or tools are automatically updated in calculations, improving both efficiency and accuracy. These features provide Tset with an advantage over other solutions that often require more manual intervention.
The software’s master data service also adds significant flexibility and supports additional cost engineering domains such as plant calculations and software development costs. By consolidating all master data into a single database, the company creates a "single source of truth" for prices and CO2 values, thus enabling powerful search features and the consolidation of negotiated, estimated, and calculated prices. This comprehensive approach sets us apart from other solutions that may lack such an integrated system.
Tset’s browser-based interface, which does not require installation, meets the latest UX standards for user-friendly and accessible software. Its built-in automatic history tracking feature and undo function further enhances usability by allowing easy tracking and reversal of changes, a feature that simplifies workflows and is not always available in other market offerings.
Cross-departmental collaboration is a key strength of Tset’s solution. By breaking down silos between departments such as sales, controlling, cost engineering, and procurement, the process becomes streamlined and therefore results in greater efficiency. The software's capacity to connect various departments ensures that cost engineering expertise is shared throughout the organization – something that can be more difficult to achieve with other solutions available on the market.
Tset software’s API-First architecture offers a significant advantage in terms of integration capabilities. Unlike many other solutions, our software allows for seamless integration into existing IT landscapes and therefore natively supports creative and custom workflows. This flexibility enables users to integrate their cost calculations with other third-party systems, which provides a more holistic view of operations. Additionally, the web- and cloud-based structure simplifies the sharing of calculations, making it easy for users with appropriate access rights to collaborate – something that not all competitors can offer.
If you are looking to switch from your current calculation tool, we at Tset can assist you with automated data migration. This process, which can often be complex and resource-intensive, is simplified by Tset software's specialized migration tool. Our tool automatically transfers data from legacy systems, which of course greatly reduces the effort required when compared with the more manual migration processes that may be necessary with other solutions. Regular updates and new feature releases are also seamlessly delivered to all users, ensuring that the entire organization benefits from the latest improvements without the need for manual interventions.
Tset’s dedication to customer success is characterized by its specialized support, go-live assistance, and direct expert access via chat or video call. Our extensive help resources, including instructional videos and in-software guidance, ensure ease of learning and use guidance. Our dedicated team of cost engineers, developers, and customer success professionals continuously ensure the software evolves to meet industry’s ever-changing needs.
Discover how leading manufacturers optimize costs and improve procurement strategies with Tset. From tackling cost pressures to increasing transparency in supplier negotiations, our customers share their success stories.
Tset’s product costing software offers key advantages that led a leading global Tier 1 automotive supplier to select it over other market solutions. These advantages included increased efficiency and accuracy in cost engineering, improved collaboration across departments, and reduced overall operating costs. These strategic benefits not only enhanced efficiency and cost accuracy, but also provided a competitive edge in a highly competitive market. This is why Tset stands out as the preferred choice for suppliers looking to surpass market rivals and succeed in the evolving automotive industry.
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Book a demo today and discover how Tset can transform your cost engineering and procurement strategies.
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