MA-PTC
10.9.2020 22:53:24 CEST | Business Wire | Press release
(NASDAQ: PTC) In a new industry survey of nearly 1,000 product development professionals from around the world, 80% of manufacturing companies surveyed say they need to minimize the time their engineering teams spend on non-design related activities, such as data management and administrative tasks. The State of Product Development & Hardware Design 2020 report explores the unprecedented challenges facing product development teams during the coronavirus pandemic and identifies significant opportunities for improvement.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200910005995/en/
The independent industry survey, commissioned on behalf of PTC ’s Onshape® Software as a Service (SaaS) product development platform, concludes that manufacturing companies risk missing strategic goals due to cumbersome processes and outdated design tools/technologies that are not suited for a flexible and remote workforce. In the vast majority of the 15 product development categories asked about in the survey, companies reported a disconnect between what they believe are capabilities that are critical for driving productivity/innovation and their actual performance in each of these areas.
“This report offers a fascinating look at companies’ self-reported strengths and weaknesses in the product development process,” says Jon Hirschtick, Executive Vice President and President of SaaS, PTC. “The capabilities gap between where engineering teams say they want to be and where they believe they are right now is a reminder that successful companies have to be hyper-agile. The need to constantly re-evaluate existing tools and processes is especially vital to not just surviving but thriving during unpredictable times.”
Notable product development capability gaps reported in the survey include:
- Minimizing time spent on non-design related activities and overhead (82% of respondents rated as critical for success – 41% rated their current capabilities as good or excellent)
- Ability to monitor activity/progress at any stage in the design process without meetings, emails or calls (77% rated as critical for success – 43% rated their current capabilities as good or excellent)
- Satisfaction with simulation tools (75% rated as critical for success – 43% rated their current capabilities as good or excellent)
- Satisfaction with PDM or PLM tools (69% rated as critical for success – 40% rated their current capabilities as good or excellent)
The report also explores companies’ top priorities for improvement in the product development process, as well as the obstacles blocking these goals. The most urgent priorities include resolving version control issues, increasing earlier communication and collaboration across the company, and making computer-aided design (CAD) data less siloed and more available throughout the design process.
Amid extended work-from-home policies due to the COVID-19 pandemic, the report concludes that cloud-based productivity tools give companies more confidence in their ability to support remote work. Of companies that score themselves highest in productivity, 87% state they are now able to effectively support work from home. With a cloud-based CAD and data management platform, companies can drive earlier collaboration and boost productivity and innovation.
To read a full copy of the report, please visit https://Onshape.com .
About PTC (NASDAQ: PTC)
PTC enables global manufacturers to realize double-digit impact with software solutions that enable them to accelerate product and service innovation, improve operational efficiency, and increase workforce productivity. In combination with an extensive partner network, PTC provides customers flexibility in how its technology can be deployed to drive digital transformation – on premises, in the cloud, or via its pure SaaS platform. At PTC, we don’t just imagine a better world, we enable it.
PTC, Onshape, and the PTC logo are trademarks or registered trademarks of PTC Inc. and/or its subsidiaries in the United States and other countries.
View source version on businesswire.com: https://www.businesswire.com/news/home/20200910005995/en/
Link:
Social Media:
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
IntouchCX Recognized for Operations led AI and End to End CX Transformation by HFS Research6.11.2026 15:00:00 CET | Press release
IntouchCX a global leader in AI-powered customer experience (CX) management, trust and safety, digital engagement, and back-office operations, has been positioned in the Horizon 2 end-to-end experience transformation, in the HFS Horizons Customer Experience Services 2026 report for its operations led approach to AI adoption and its model connecting advisory with delivery, from strategy through frontline executions. HFS Research evaluates customer experience service providers based on their capabilities, innovation, and potential to deliver value. The 2026 report examines how providers are helping businesses adopt AI, improve customer experiences and strengthen operations. “AI transformation delivers the greatest value when strategy, technology, and operations work together,” said Brent Stevenson, Chief Experience Officer at IntouchCX. “Our approach and expertise goes beyond technology. We identify business challenges and build the right solutions by connecting the dots between data, wo
The Estée Lauder Companies Unveils Mastering Skin Longevity, a Breakthrough Scientific Innovation Platform Advancing the Next Era of Skin Science6.11.2026 15:00:00 CET | Press release
New Platform Focuses on Master Regulators of Skin Longevity to Drive Discovery Across Ingredients, Technologies, Formulations and Future Product Innovation At the China International Import Expo (CIIE), The Estée Lauder Companies Inc. (NYSE: EL) today unveiled Mastering Skin Longevity, a breakthrough scientific innovation platform designed to advance the next era of skin science and transformative product innovation. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261106776704/en/ The Estée Lauder Companies' Skin Longevity Clock serves as the visual representation for the Mastering Skin Longevity scientific innovation platform. Moving beyond the study of individual Hallmarks of Aging, the platform focuses further upstream on the Master Regulators of Skin Longevity. These interconnected biological pathways and proteins influence multiple hallmarks at once. By deepening understanding of these systems and how they help support s
Experian Named a Leader in 2026 IDC MarketScape for Worldwide Decision Intelligence Platforms6.11.2026 15:00:00 CET | Press release
IDC MarketScape recognizes Experian for strengths in proprietary data foundation, integrated orchestration and deployment flexibilityKey SummaryExperian named a Leader: IDC MarketScape positions Experian as a Leader in its 2026 vendor assessment of worldwide decision intelligence platform providers. Data and decisioning at scale: Experian Ascend Platform™ brings together proprietary data, analytics, decisioning, fraud detection, identity verification and model management and is used to process millions of transactions daily. Agentic AI orchestration and governance: Experian Agent Operating System™ provides a trusted agentic AI layer within Experian Ascend Platform designed to help organizations scale AI with explainability, auditability and human oversight. Experian today announced it has been named a Leader in the IDC MarketScape: Worldwide Decision Intelligence Platforms 2026 Vendor Assessment (Doc #US54118426, September 2026), which evaluates providers helping organizations design,
Midas Atlantic Partners, in Partnership With the Najafi Companies, Has Entered Into a Put Option Agreement With Sylvamo Relating to the Potential Acquisition of Its European Operations6.11.2026 12:04:00 CET | Press release
Sylvamo’s European operations include its uncoated freesheet paper mills in Saillat (France) and Nymölla (Sweden), as well as its forestry and supporting business operations across EuropeRevenues of approximately EUR 630 million for the fiscal year ended December 2025Transaction expected to close in the first quarter of 2027 once the required consultation processes are completed and regulatory approvals are obtained Midas Atlantic Partners (“Midas Atlantic”), in partnership with The Najafi Companies, has signed a put option agreement with Sylvamo Corporation (“Sylvamo”) relating to the potential acquisition of its European operations (the “Business”). The transaction comprises Sylvamo’s uncoated freesheet paper mills in Saillat and Nymölla, as well as its forestry and supporting business operations across Europe. Closing is expected in the first quarter of 2027, once the required consultation processes are completed and regulatory approvals are obtained. The Business is a leading Europ
Suzano Reports 36% Increase in Third Quarter Net Revenue Following Consolidation of Arbex6.11.2026 00:23:00 CET | Press release
Suzano (B3: SUZB3 / NYSE: SUZ) , the world’s largest pulp producer, announces its results for the third quarter of 2026 (3Q26), which for the first time include Arbex, the joint venture between Suzano and Kimberly-Clark established in July this year. Driven primarily by the consolidation of Arbex’s contribution, Suzano reported net revenue of BRL16.5 billion, an increase of 36% on the same period last year and a new quarterly record in the company’s 102-year history. Adjusted EBITDA totaled R$5.7 billion in 3Q26, up 9% on the same basis of comparison. Operating cash generation reached R$3.8 billion, an increase of 12%. Net income totaled R$2.1 billion. As announced following the completion of the transaction with Kimberly-Clark, Suzano holds a 51% equity interest in Arbex and will therefore fully consolidate the joint venture’s financial statements from this quarter onwards.1 “This quarter marks the beginning of a new phase for Suzano. With Arbex, we are now a broader business, both ge
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom