In a significant boost to Indo-German industrial cooperation, Indian technology firm Cost It Right has entered into a strategic Memorandum of Understanding (MoU) with Germany’s WV Cost Engineering. The alliance seeks to develop an advanced cost engineering platform that could redefine how companies in automotive, engineering, and manufacturing sectors manage costing and procurement.
Bridging Borders Through Digital Innovation
The collaboration was facilitated by Torsten Kreiling, founder of tkreiling-consulting, whose cross-cultural expertise and industry connections played a key role in bringing the two firms together. Kreiling’s efforts helped align both companies’ complementary capabilities, paving the way for the partnership.
Tanmay Rawat, CEO of Cost It Right, emphasized that the project is tackling a universal problem. “This isn’t merely a software tool,” he noted. “Costing inefficiencies affect manufacturers worldwide, irrespective of geography. By leveraging India’s agility and digital innovation alongside Germany’s deep engineering expertise, we’re addressing this challenge through true cross-border collaboration.”
A Platform Beyond Traditional Costing Tools
The joint solution aims to merge WV’s extensive experience in target cost calculation with Cost It Right’s artificial intelligence-driven platform. According to both firms, the resulting technology will go far beyond conventional cost engineering software, offering a dynamic and intelligent system for cost breakdowns across suppliers, regions, and components.
The new platform promises real-time, adaptable insights for cost engineers, sourcing professionals, and decision-makers, potentially transforming how industries manage costs, optimize sourcing, and maintain competitiveness in global markets.
About the Partners
Cost It Right, based in India, specializes in cost engineering software designed for global manufacturers. Its AI-powered platform enables businesses to simulate, analyze, and optimize product and sourcing costs with remarkable speed and precision.
WV Cost Engineering, headquartered in Germany, is renowned for its robust cost calculation tools. With decades of practical experience in manufacturing and engineering, WV’s solutions are trusted by leading industrial players across Europe.
The collaboration marks a notable step forward in blending technological strengths from India and Germany to address complex challenges in global manufacturing.
