Parametric Technology : PTC Named 'Leader' in IDC MarketScape on Worldwide Warranty Analytics
05/15/2012| 08:20am US/Eastern
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PTC's warranty analytics software is recognized for its broad market
implementations and strong capabilities that address product quality and
warranty performance initiatives
PTC
(Nasdaq: PMTC) today announced that it has been named a leader in the
IDC MarketScape: Worldwide Warranty Analytics 2012 Vendor Assessment.
IDC Manufacturing Insights examined the capabilities and strategies of
nine key vendors in the warranty analytics software space and determined
that PTC's
warranty analytics software was a leading solution. PTC's software
enables manufacturers to have better visibility into product performance
and warranty performance metrics in order to improve quality, reduce
warranty costs and retain customers.
As product complexity continues to increase to meet the growing demands
of global consumers, warranty claims and costs also continue to rise.
According to IDC, manufacturers spend over 23 billion dollars of product
revenue on warranty claims in the United States and continue to seek
ways to decrease these costs. Warranty analytics help manufacturers
assess product performance and service effectiveness in order to
generate the maximum benefit across the product and service lifecycle.
PTC acquired 4C Solutions, Inc (4CS), a developer of warranty management
and service lifecycle management software, in September 2011. As a
result of that acquisition, PTC now offers manufacturers a Warranty and
Contract Management solution to define, manage and analyze all warranty
processes from initial product registration through the end of standard
or extended warranty period. PTC's approach to warranty and service
lifecycle management leverages a product-centric data model to manage
warranty and capture service history in the form of an "as-maintained"
bill of material (BOM). This enables manufacturers to bring important
data back into the enterprise to allow for continuous product and
service improvement.
PTC's service
lifecycle management solutions empower an OEM's product-support
ecosystem with intuitive, configuration-specific service information,
illustrated 3D parts lists, and end-to-end warranty process management.
They also complement PTC's quality
lifecycle management solutions which manage every aspect of product
quality, reliability, and safety to ensure products meet the
requirements set for them. The combination will enable greater
visibility into product knowledge across the product and service
lifecycles.
"Warranty analytics applications provide a pivotal piece of business
intelligence because they bring amplified visibility into product
quality and warranty performance," said Sheila Brennan, program manager
for IDC Manufacturing Insights' Aftermarket and Service Strategies.
"Based on PTC's scores in the rigorous research methodology set forth by
IDC Manufacturing Insights, the company is positioned as a leader in the
Worldwide Warranty Analytics market. PTC has strong product
functionality, vision and sales strategy. The company's greatest
opportunities lie in the addition of predictive analytics capability and
in the effective integration with its PLM offerings." For more
information, reference IDC Manufacturing Insights, IDC
MarketScape: Worldwide Warranty Analytics 2012 Vendor Assessment
(Doc # MI233833), March 2012.
"Warranty analytics enable companies to capture product information
about post-sale product performance and service effectiveness for
delivery back to service operations and product development," said Kevin
Wrenn, divisional general manager, service lifecycle management
business, PTC. "We are pleased that IDC has recognized our strategic
commitment to warranty analytics and the positive impact that PTC's
warranty and contract management solutions can deliver to manufacturers
striving to improve warranty and product performance."
Additional Resources
About PTC
PTC (Nasdaq: PMTC) enables manufacturers to achieve maximum value from
their product strategies with software and services that optimize key
business processes throughout the entire product lifecycle - from
conception and design to sourcing and service. The company's integral
solution portfolio unleashes product innovation, improves collaboration
and ensures product data integrity within engineering and across the
enterprise, supply chain and service partner networks. Founded in 1985,
PTC employs nearly 6,000 professionals serving more than 27,000
customers worldwide. More information can be found at www.ptc.com.
About IDC MarketScapes
IDC MarketScape vendor analysis model is designed to provide an overview
of the competitive fitness of ICT (information and communications
technology) suppliers in a given market. The research methodology
utilizes a rigorous scoring methodology based on both qualitative and
quantitative criteria that results in a single graphical illustration of
each vendor's position within a given market. IDC MarketScape provides a
clear framework in which the product and service offerings, capabilities
and strategies, and current and future market success factors of IT and
telecommunications vendors can be meaningfully compared. The framework
also provides technology buyers with a 360-degree assessment of the
strengths and weaknesses of current and prospective vendors.
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PTC and the PTC logo are trademarks or registered trademarks of
Parametric Technology Corporation or its subsidiaries in the United
States and other countries.
PTC
Corporate Communications
Beth Ambaruch, 952-435-5058
bambaruch@ptc.com
or
For
PTC
Weber Shandwick
Kristen Georgian, 617-520-7042
Kristen.Georgian@webershandwick.com
© Business Wire 2012
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