Product cost management solution provider makes big gains in Europe and in automotive
Concord, Mass. – July 9, 2012 – aPriori, a provider of product cost management software solutions, today announced record results for its recently completed fiscal year 2012. The company saw significant growth across all measures of its business including bookings, revenue, new customer wins and customer renewals. It also expanded its revenue base in Europe and added marquee customers in the automotive and industrial equipment industries in both Europe and the U.S.
Key accomplishments for the year ending April 30, 2012 include:
- 61% increase in bookings vs. FY 2011
- 52% increase in revenues vs. FY 2011
- 68% increase in new customers signed since April 30, 2011 contributing almost 40% of FY 2012 bookings
- New customer wins at Ford Motor Company, Toyota Industrial Equipment, Diebold, Sertec UK, BRP and many others
- 94% annual customer renewal rate including key customer accounts such as ThyssenKrupp Elevator Americas, Polaris Industries, Cummins Engine and Ingersoll Rand
The company also saw a 100% increase in its employee headcount for the second consecutive year. This included additions to its European sales, services and development teams and a new cost modeling team established to help enterprise users leverage best practices in cost modeling and implementation to accelerate their time to value and maximize their product cost savings.
aPriori’s Product Cost Management software platform enables engineering, manufacturing and sourcing personnel to quickly and precisely determine the cost of a new part or product design by automatically pulling geometric and feature information from a computer-aided design (CAD) model. The software leverages intelligent cost models based on the manufacturing process, materials and the plant where a product or part will be produced. Using this new level of cost knowledge, manufacturers are able to make more informed new product design decisions and reduce new product costs without impacting product quality.
The company continued to invest heavily in the product suite in FY 2012 as well. Two major releases were delivered to the market that included a host of new manufacturing cost models, capabilities for calculating detailed tooling estimates, batch-costing thousands of parts overnight and the ability for users to modify their aPriori application or add custom cost models.
“Effective product cost management has become a core foundation of many manufacturers’ approach to product lifecycle management. The ROI is difficult to ignore,” said Stephanie Feraday, president and CEO of aPriori. “Our team has capitalized on that trend. We’ve established a very solid foundation in Europe, expanded our base in automotive and are able to do more than ever to ensure our customers get maximum value from their aPriori implementation.”
aPriori software and services generate hard-dollar product cost savings for discrete manufacturing and product innovation companies. Using aPriori’s real-time product cost assessments, employees in engineering, sourcing and manufacturing make more-informed decisions that drive costs out of products pre- and post-production. With aPriori, manufacturers launch products at cost targets, maximize savings in re-work projects and never overpay for sourced parts.
To learn more about aPriori and its product cost management solutions and services, visit www.apriori.com or call 1.978.371.2006. To see an overview demonstration of aPriori, click here: http://www.apriori.com/57c40ef7-be81-4d74-b6ca-a8c21ca6a48c/flash_demonstrations.htm.