AUBURN HILLS, Mich., April 28, 2011 /PRNewswire/ -- FACTON GmbH was named as a Cool Vendor by Gartner Inc. Only five companies received this honor for product design and life cycle management. Gartner is one the world's leading information technology research and advisory companies, providing technology-related insight to help its clients make the business software solutions decisions.
"It's a great honor to be named a Cool Vendor by Gartner," said Cees van den Hoven, Managing Director FACTON GmbH. "We believe this analysis of our total system approach confirms the capability of the FACTON system to accurately track and predict costs, through the total life cycle with repeatability and fidelity of the cost information for fact based decisions."
The Cool Vendors report has been created by Gartner to highlight vendors that offer innovative products or services. These are companies that Gartner researchers and analysis professionals believe have the potential to change or affect a market in a significant way.
The FACTON system is configurable to match each client's specific needs, and provides an easy way to view and follow actual costs via management dashboards, as well as compare multiple cost scenarios. This Enterprise Product Costing data is updated in real time for all users around the globe within your company.
Additionally, FACTON provides quarterly-updated global benchmarking costs of hundreds of manufacturing commodities, as well as labor costs broken down by regions within world markets.
About the Cool Vendor Selection Process
Gartner's listing does not constitute an exhaustive list of vendors in any given technology area, but rather is designed to highlight interesting, new and innovative vendors, products and services. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness of a particular purpose. Gartner defines a cool vendor as a company that offers technologies or solutions that are: Innovative, enable users to do things they couldn't do before; Impactful, have, or will have, business impact (not just technology for the sake of technology); Intriguing, have caught Gartner's interest or curiosity in approximately the past six months.
About FACTON GmbH
FACTON is the leading Enterprise Product Costing solution for the automotive industry. Through enterprise-wide unified product costing, i.e. across departments and locations, FACTON provides high transparency of product costs. FACTON combines the financial view on product costs with the engineers' technical perspective. Thus, the costs of complex products can be determined at an early stage and throughout the entire product lifecycle. With FACTON, companies accelerate their costing and achieve high cost accuracy.
FACTON GmbH supplies software of the same name for Enterprise Product Costing. The company was established in 1998 and is represented in Dresden, Potsdam (both Germany) and Detroit (USA). Since 2006, the innovative company has also been supported by Hasso Plattner, founder and Chairman of SAP AG. The target sector is the discrete manufacturing industry. Customers include Behr, Chrysler, Magna Powertrain, Porsche, Siemens and Volkswagen. FACTON aims, together with leading consulting and software partners, to establish a uniform standard in cost management.
SOURCE FACTON GmbH