New Industry Research Finds Connected PLM Can Help Organizations Overcome Product Complexity During Digital
Transformation
Study Finds Collaborative and Connected PLM Environment Leads to Cost Reduction, Quality Improvement, and
Accelerated Time to Market
PTC (NASDAQ: PTC) today announced the release of a new industry study, in conjunction with
Aberdeen Group, that identifies the benefits of leveraging enterprise product lifecycle management (PLM) as a means to digital
transformation. The survey covers top challenges faced by PLM users, the impact of PLM on IoT, the risks of a disconnected PLM
environment, and more.
According to the research, as products become more complex, traditional product development processes can’t keep up with the
demands of getting products to market on-time and on-budget. Best-in-class manufacturers embracing digital transformation, which
made up the top 20 percent of organizations polled, have seen several benefits from streamlining and digitizing their PLM efforts.
Each of these leaders has established a single, connected view of data across systems that includes information from AD, ERP, and
PLM systems.
“As companies face the growing complexity of products, many are dealing with an environment that is increasingly disconnected,”
said Greg Cline, research analyst, manufacturing and product innovation & engineering, Aberdeen Group. “With a collaborative
and connected PLM environment, the best-in-class companies are seeing significant cost reductions, improved quality control, and
over 2x greater engineering productivity than their peers.”
The findings show that organizations who embrace consolidated PLM systems have a leg up on their competition, including the
following advantages:
- 2.4x greater year-over-year engineering productivity improvement rate compared to the industry
average
- 58 percent higher rate of hitting product date targets
- 22 percent higher rate of products meeting product development budgets
- 21 percent higher rate of products hitting quality targets at launch
The study also reveals that companies that do not leverage single PLM systems across their organization are behind the industry
in product development cycles and face an “environment of informational chaos.” The Aberdeen report suggests these organizations
should not search for a “band-aid” solution, but instead should focus on consolidating into a single, connected system for a more
complete view of data across their organization.
“This study confirms something we at PTC have long known – consolidation of data into a single PLM system is a key to success.
With an enterprise PLM foundation, organizations can provide a digital thread of rich, up-to-date product development information
throughout the enterprise,” said Kevin Wrenn, divisional general manager, PLM, PTC. “PLM is a key enterprise value-driver, enabling
organizations to get products to market faster and in turn, stay ahead of the competition.”
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About PTC (NASDAQ: PTC)
PTC helps companies around the world reinvent the way they design, manufacture, operate, and service products in and for a smart,
connected world. In 1986 we revolutionized digital 3D design, and in 1998 were first to market with Internet-based product
lifecycle management. Today, our leading industrial innovation platform and field-proven solutions enable you to unlock value at
the convergence of the physical and digital worlds. With PTC, manufacturers and an ecosystem of partners and developers can
capitalize on the promise of the Internet of Things and augmented reality technology today and drive the future of innovation.
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PTC
Jack McAvoy, 781-370-6143
Corporate Communications
jmcavoy@ptc.com
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