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."