NEEDHAM, MA – May 15, 2012 – PTC (Nasdaq: PTC) 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 (SLM) software, in September 2011. As a result of that acquisition, PTC now offers manufacturers PTC 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-materials (BOM). This enables manufacturers to bring important data back into the enterprise to allow for continuous product and service improvement.
PTC's SLM 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 Warranty and Contract Management solution can deliver to manufacturers striving to improve warranty and product performance."
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 (Nasdaq: PTC) enables manufacturers to achieve sustained product and service advantage. The company's technology solutions transform the way products are created and serviced across the entire product lifecycle — from conception and design to sourcing and service. Founded in 1985, PTC employs over 6,000 professionals serving more than 27,000 businesses in rapidly evolving, globally distributed manufacturing industries worldwide.
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.
The PTC advantage is fueled by technology solutions that transform the way you create, operate and service products.
Our technology enabled solutions transform the way that products are created, operated, and serviced in the Internet of Things.
Our comprehensive business process expertise, helps reveal — and prioritize — opportunities for ongoing product and service advantage.
PTC solutions help you tackle the real challenges manufacturers and service providers face every day.
See how PTC can help you optimize the system of people, processes and technology to enable greater service performance. Learn more.
See how PTC can help ensure on-going product and supplier compliance. Learn More.
Industry leading software technology is at the heart of every PTC solution.
Thousands of Pro/ENGINEER customers have already made the move to PTC Creo Parametric. Learn more.
PTC Windchill 10 upgrade includes a new user experience, more product capabilities and real-time cost analysis.
PTC Global Services helps the world's leading manufacturing companies realize the promise of PTC solutions.
How to select the right provider to optimize application performance
Strategies to make your organization more productive
Whatever your role in the worldwide PTC community, these resources will deepen and enrich your experience.
Relive some of the best moments of the 2014 event in Boston. View event highlights and on-demand keynotes.
Add to the discussions and showcase your work to product development professionals from around the world.
Support solutions that accelerate and sustain your advantage.
PTC is transforming your online technical support experience. The award-winning eSupport portal homepage provides personalized, fast access to product knowledge and case resolution. Don't have an Account? Create an account today
Support is more than just keeping you up and running. It’s about optimizing performance and productivity, helping you control costs and risk. Accelerate and sustain your advantage by renewing Support on time.
PTC Corporate Headquarters 140 Kendrick Street Needham, MA 02494, USA
Phone: (781) 370-5000 Fax: (781) 370-6000