Benefits of using a Requirements Tool
Reduction in costs
The costs of requirements errors are extremely high. For example, the cost to correct errors injected early (during requirements development) multiplies as your project proceeds - costing you 50, 100, or even 400 times more as the project proceeds (Reifer, 2007; Dabney and Barber, 2003; Boehm and Basili, 2001; Nelson et al., 999; McConnell, 1996; Boehm and Papaccio, 1988).
Companies need to reduce their development cost in order to maintain themselves competitive. By using a professional tool your team will reduce the cost of working with well-defined and well-managed requirements.
According to the Carnegie Mellon Software Engineering Institute, "Data indicate that 60-80% of the cost of software development is in rework."
In order to maintain competitive companies need to be able to create, store and shared their requirements, allowing multiple teams to work and reuse them, instead of starting every product or service design from scratch.
By using a proper requirements management process manual rework (and manual errors) will be avoided, which has a direct impact in the costs and productivity.
Reduction in time to market of products
Market pressure and big competence often requires to drastically reduce time to market. When using a professional requirements management platform most of the task are done automatically what avoids manual error and guarantee consistency.
Quality assurance is key when developing products and services, especially in industries such as medical devices, automotive, defense, pharma, energy…
By using a Requirements Management Software your company reduce manual work and will detect detect low quality requirements in an early stage of the process.