Propel Software, creator of the first product value management (PVM) platform, announced its Spring ‘24 release, transforming how businesses create, sell, and service products. Its first new release of 2024 empowers companies to significantly speed time to revenue, surpass sustainability goals, and elevate product quality through enhanced collaboration and data integration.
“Spring ‘24 continues to build on the promise that many siloed legacy solutions fail to provide,” said Eric Schrader, Chief Product Officer at Propel. “Our platform weaves a trusted product thread throughout the entire product lifecycle, engaging every stakeholder to address critical product success factors: how well it’s designed and made, how effectively it’s marketed and sold, and how efficiently it’s serviced and supported.”
Shorten Go-To-Market Cycles
Expanding product enrichment capabilities, Propel enhances the ways product and commercial teams work concurrently to seamlessly transform and associate a product’s technical definition with its market-facing content, attributes, and rich product information for various sales channels. This ensures that all stakeholders are aligned from the outset, dramatically reducing the time and effort to navigate from design to commercial sales success.
“Propel is clearly offering something very different than what others are doing in the PLM space. Its ability to connect the product record from engineering to marketing will be a significant enabler to driving alignment and speed in any go to market motion,” said Jim Brown, President, Tech-Clarity, Inc. “Propel gives engineering teams a window into marketing’s world, and vice versa. This visibility is essential to ensure a superior customer experience and faster time to market, which leads to greater revenue and market share.”
Strengthen Sustainability Tracking & Reporting
Propel’s Spring ‘24 release also significantly improves sustainability tracking and compliance at a time where environmental compliance, social responsibility, and sustainability are at the forefront of every business strategy. A new integration with QPoint Technology’s Green Data Exchange allows users to effortlessly access suppliers’ declarations, certifying that products meet the highest standards of environmental stewardship before they enter the market.
R&D, product and commercial teams have a unique opportunity to improve market access and bolster customer loyalty by differentiating their offerings on the basis of regulatory compliance and ESG-leadership. The latter being paramount given its continued influence on consumer purchase behaviors. In a survey of 2000 U.S. consumers commissioned by Propel and conducted by OnePoll, 65% cited the importance of brand transparency as they look for environmental claims when making purchases. Savvy consumers shared that they’re not easily tricked as 45% reported if they discovered a brand was “greenwashing” products (making misleading eco-friendly product claims) they would purchase from an eco-friendly competitor instead.
Enhance Customer Satisfaction
Propel's commitment to enabling quality and customer satisfaction improvements has never been stronger. Expanding on the capability announced in the Winter ‘24 release to link serialized end units to the item revision that was used to build it, customers can now relate those serialized customer end units (assets) to quality workflows, and the affected items will be automatically linked. Bridging the gap between commercial and product teams enables rapid contextualization of field feedback. Service and support teams can problem-solve using a familiar, robust framework of customer issues and cases tied to serialized assets. Meanwhile, their quality and engineering colleagues gain immediate visibility to appropriate parts, assemblies, and documents in need of remediation and the scope of potential impact across the entire product portfolio, and all installed assets.
