Discover Germany | Special Theme | Consumer Electronic & Technology Trends 2017
Digitalising enterprise product costing with expert help from Germany In digitalising the calculation of product costs, the German company FACTON with headquarters in Potsdam near Berlin has defined Enterprise Product Costing. Today, FACTON has become the market leader in this area with clients all over the world – a growing company that joins business expertise with practical solutions. TEXT: JESSICA HOLZHAUSEN I PHOTOS: FACTON
To have the right software for cost accounting makes life easier for everyone involved. However, for many years there was no product on the market that fitted companies’ needs – no matter the size, or industry. This was the starting point for FACTON as a software developer: FACTON was originally founded as a consultancy that offered engineering services for the manufacturing industry, especially the automotive industry. “But over and over again, we realised that next to technical information, the clients also asked for costing information,” says FACTON CEO Alexander M. Swoboda. “And the only tool used so far to collect this information was MS Excel. All 64 | Issue 53 | August 2017
companies we encountered were using it, no matter the size. And because there simply was no software available that matched the specific requirements, we developed our own software,” he adds. “We had a very clear vision for ‘Enterprise Product Costing’ right from the beginning: We wanted to enable our clients to calculate the overall production costs, so that with the gathered data the finance department can, early on, calculate how much the development of a product costs, and at what price a product can be bought and sold,” says CEO Alexander M. Swoboda. This also allows them to provide the costing information management needs.
Developing a completely new software product and individual solutions did not always go smoothly: not all of the first software products turned out to be cost effective for FACTON, even though the clients were happy with the results they gained and the products they received. The first products FACTON developed focused on the requirements of individual clients.“Introducing these products at the respective companies allowed us to become the company we are today,”says Alexander M. Swoboda. “A market leader.” Because of its software products’ success, the company changed rapidly – from a consultancy to a successful business software developer. The company is still constantly growing and recruiting new staff to tackle new challenges. Over time, FACTON widened its client base in the automotive industry and added aerospace companies and other manufacturing industries. The company also took on part-