PTC Named 'Leader' in Worldwide Warranty Transaction Management Market in New IDC MarketScape Report
Report concludes that PTC’s warranty management solution enables durable goods manufacturers to get additional value from aftermarket service initiatives
NEEDHAM, MA - July 25, 2012 - PTC (Nasdaq: PMTC) today announced it has been named a leader in warranty transaction management software, according to a new report from IDC Manufacturing Insights (IDC MarketScape: Worldwide Warranty Transaction Management 2012 Vendor Assessment, Doc#MI235797, July 2012). IDC Manufacturing Insights examined the capabilities and strategies of key vendors in the warranty software space and determined that PTC is a leader because its warranty solution enables durable goods manufacturers to have better visibility into product performance and warranty performance metrics that can improve quality, reduce warranty costs and retain customers.
According to IDC Manufacturing Insights, manufacturers spend over $23 billion of product revenue on warranty claims annually in the United States alone. Warranty management analytics help manufacturers assess service effectiveness and product performance in order to generate the maximum benefit across the product and service lifecycle. Warranty transaction management systems, like PTC iWarrantyTM software, are at the center of customer interactions in the service world and are being called upon to do more than simply process claims.
"Warranty management solutions help reduce inefficiencies and financial liability resulting from suboptimal warranty management," wrote Sheila Brennan, program manager for IDC Manufacturing Insights' Aftermarket and Service Strategies research practice. "Based on the company's scores in the rigorous research methodology set forth by IDC, PTC is positioned as a leader in the worldwide warranty transaction management market. PTC is one of the largest and most tenured players in the market, and has strong product capability and a well developed roadmap. The PTC iWarranty application is highly capable and is a good choice for an organization looking for an out-of-the-box, complete warranty solution with flexibility for customization. The company's greatest opportunities lie in offering additional field service capabilities and in the effective integration with its PLM offerings. PTC received excellent marks from its customer references." For more information, reference IDC Manufacturing Insights, IDC MarketScape: Worldwide Warranty Transaction Management 2012 Vendor Assessment, Doc#MI235797, July 2012.
PTC has been developing a deep set of capabilities for service executives over the past several years, expanding its Service Lifecycle Management (SLM) portfolio through a combination of organic development and strategic acquisitions. As it relates specifically to warranty management, 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 solution also offers an integrated warranty analytics module with the ability to perform service and warranty contract management analysis. In March, IDC Manufacturing Insights named PTC the leader in warranty analytics as well. Integrations with CRM (customer relationship management), ERP and PLM systems are fully supported.
"Effective warranty management enables companies to move beyond simply processing warranty claims toward a strategic, key differentiator for product quality, service value and warranty coverage," said Kevin Wrenn, divisional general manager, service lifecycle management business, PTC. "We are pleased that IDC Manufacturing Insights has recognized our strategic commitment to warranty management and the positive impact that PTC's solutions can deliver to manufacturers striving to improve warranty, service and product performance to increase customer value. Our solutions are able to scale and adapt to business changes enabling manufacturers to grow and service changing customer needs."
- IDC MarketScape: Worldwide Warranty Transaction Management 2012 Vendor Assessment Excerpt (analyst report)
- IDC Manufacturing Insights, IDC MarketScape: Worldwide Warranty Analytics 2012 Vendor Assessment Excerpt (analyst report)
- Warranty & Contract Management (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)
PTC (Nasdaq: PMTC) enables manufacturers to achieve sustained product and service advantage. The company's technology solutions help customers transform the way they create and service products 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. Get more information at www.ptc.com.
About IDC MarketScape
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.
PTC, the PTC logo and iWarranty are trademarks or registered trademarks of Parametric Technology Corporation or its subsidiaries in the United States and other countries.