PTC’s warranty analytics software is recognized for its broad market implementations and strong capabilities that address product quality and warranty performance initiatives
NEEDHAM, Mass. — (BUSINESS WIRE) — May 15, 2012 — 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
- IDC Manufacturing Insights, IDC MarketScape: Worldwide Warranty Analytics 2012 Vendor Assessment Excerpt (report)
- PTC Acquires 4CS (web site)
- PTC’s Service Lifecycle Management Resource Center (web site)
- Service Information for Today’s Global Marketplace (video)
- Enhancing Service Information to Improve Product Performance (video)
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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