How PTC Helps Its Customers Move Ahead
00:05 When a company is doing exceptionally well, usually what I find when I go talk to them is that they have been willing to take a hard look at their own internal processes and practices and make changes to accelerate or drive better quality. It's the companies that really embrace that, that I think end up differentiating themselves from their competition in a product development capacity. Companies that are ahead of their competition are the ones that are always striving for innovation.
00:37 They are always looking for, what can we do better in developing, producing and servicing our products? So they're always looking for what's next, what can we do better? And they don't settle. They're always ready to change. These leading companies have connected data. They have connected teams. So whether that's engineering, manufacturing, service or even suppliers, they're all connected part of a digital thread. And that allows for greater efficiency,
01:07 less silos between teams and overall that improves the time to market with the NPI process. One company in particular, completely transformed how they use simulation as part of the design process. They used to be very, very reliant on basically build a prototype, test a prototype, get the feedback back to engineering, build a prototype, test the prototype, get the feedback. It was just a constant cycle. They started taking a close look at the way we've integrated simulation technology into Creo. It's a Creo example. Big surprise.
01:38 And what we found was that they could take months and months and months of the pre-work rotating through different variants of prototypes and do all of that digitally. They've taken months of work and really condensed it down to like 1 or 2 weeks to just do that last final prototype to validate that the design that they optimized using simulation would actually meet the requirements and let them get to market much, much faster. When we talk about model based definition, we're talking about a single common source of truth.
02:08 The product manufacturing information, PMI, is embedded into the 3D model. And that means that companies can eliminate the use of 2D drawings. And they were able to incorporate model based definition, allowing for much, much faster product development cycles anywhere in the ranges of 30 to 50% faster product development cycles. The companies that I'm seeing that are able to be more flexible towards change and adapt change quicker, they're all speaking the same language
02:38 from the CEO level, leadership level, all the way down to the grassroots layer versus the companies that I'm seeing that are running more into that friction point is because they are speaking two separate languages at the grassroots layer versus the leadership layer. It's easier for organizations to incorporate technology. But a significant change to culture, with the way people work. That's often the harder challenge. There have been plenty of instances where we have seen the before and after, when a customer is willing to take a step back,
03:10 look at what's going on in their product development process, change something about that, usually the result of implementing our technology in a more thoughtful, capable way. We see significant time savings. So we've seen plenty of customers change time to market in double digits easily 10, 15, 20%. We've seen them do that without reducing quality whatsoever. Frankly, some of our proudest moments is when we actually see a customer take advantage of our advice, take advantage of our technology, advance their product development process,
03:41 and actually get to market quicker and start grabbing market share. So it's really, really fulfilling. And I'd say we were pretty proud of those moments. PTC provides a strong foundation for the intelligent product lifecycle, which customers can then leverage in their organizations to create connected data, connected teams and cross-functional alignment. I think where PTC helps customers move ahead is they allow them the flexibility and agility to be able to keep at the same pace that change is coming.
04:12 So that's the biggest thing I've seen across the board with all of my customers, is that our solution sets set up the framework so that they can actually be program and mission focused versus having to be IT infrastructure focused. PTC helps customers move ahead by re-engineering how they develop products from beginning to end, helping them to get to market faster with the same or better quality than they ever had before. PTC helps customers to innovate faster in their product engineering, production and service.