Do your products include more software than ever before? Does software determine a larger part of your product’s performance? If so, learn how to manage product development complexity and take full advantage of the opportunity to innovate with software and systems. This paper discusses how companies meet the complex challenge of developing mechatronic products—those with mechanical, electrical, and software components—and how to take advantage of the opportunity to develop more innovative products by leveraging the flexibility and adaptability that software-based products offer.