Hi,
my suggestion is: take it easy. There are many solutions and everything depends on 'who is going to do what'.
If you are only thinking of a tool for managing SW files into your design department, PDMWorks is ok.
But if you want to extend your PDM out of the design department you need something more.
In this case, next thing you need to decide is if your design people is going to work on SAP.
The advantage of this: You do not need another PDM tool (as smarteam). SAP can work as a PDM and you can handle all product documents through the entire organization with a good change management of everytihng at a time. For example, if you need to send a drawing to your vendor and attach it to a purchase order, you have it done with SAP.
The disadvantage: It is not a graphical environment and can be a very hard tool for a designer to work with. I mean that they should open their SW documents from inside SAP, not directly in SW (and if they are many people you should think about the number of SAP licenses too).
A solution may be using both PDMs: Smarteam for the design departament and SAP for everyone else.
This is the scenario we have arrived to. SAP supports vaulting, revisions, change management and so on, and it is ok for us, but it is not user-friendly at all for for our design department.
Our real problem is that we need a tool to connect not only our master data but also some project-specific information (configurations) that 'normal' PDMs don't support.
Regards
JMORA