Announces Second Year of Record Growth
SAN JOSE, Calif.--Centric Software, the leading provider of Product Intelligence (PI) applications for the extended enterprise, today announced its second consecutive year of record growth and expansion in key market sectors including consumer goods, apparel and retail, life sciences, and architecture/engineering and construction (AEC). Key factors contributing to the revenue growth are an expanded software portfolio, with four new Product Intelligence applications, and the release of v6.0 of Centric InSight, the only out-of-the-box application for intelligent search and discovery of engineering and technical content.
“Global market pressures require that an enterprise collaborates worldwide to maintain agility and compete successfully. Yet competing internal silos and the lack of real-time information too often locked away in disparate applications prevent many companies from achieving the agility needed to sustain a competitive advantage,” said Don Brown, Chairman, CPDA a consulting for engineering and manufacturing. “With their Product Intelligence offerings, Centric Software now leads the industry with the integration required across all applications and functions to support real time collaboration and decision making. The software directly targets a critical priority to transform design and supply chain capabilities to meet the rising challenge of accelerating global competition.”
“Our strong growth last year derives in part from the strength and loyalty of our solid customer base. The second significant growth factor—from new business—proves that a new market exists for Product Intelligence applications that span and leverage traditional ERP, PLM, and many other standalone enterprise applications,” said Chris Groves, chief executive officer, Centric Software. “Product Intelligence applications address the problems inherent when working with global teams and distributed information, such as collaborative product development with overseas suppliers for fast-moving consumer goods, sourcing private label or branded products overseas, and visibility across multiple simultaneous global programs and projects. Our early start in this market and current momentum point to strong growth in our next fiscal year.”
Centric Software Highlights for Most Recent Fiscal Year
- 300% increase in year-over-year new license revenue in Consumer and AEC markets
- Surpassed 40,000 users in several industry verticals, managing more than $10B in new products and projects
- Expanded regional and vertical partnerships:
- Invensys and GxP in Life Sciences
- Neoris and AEC in Apparel, Retail and Consumer Goods
- IBM and PCO in Auto/Aero
- Architecture validated by IBM and Microsoft:
- Certified as “Ready for SOA” by IBM
- Awarded Microsoft Certified Partner
- Introduced Product Intelligence and new Product Intelligence applications for apparel management, global sourcing and multi-team programs
- Launched Centric Insight –the only intelligent search and dynamic discovery application for product and technical information, including information embedded in sources such as PLM, PDM, and ERP systems, office applications, email and CAD drawings
- Recognized by industry analysts including AMR – “ search providers targeting specific scenarios often offer BI (Business Intelligence) tuned to vital processes and initiatives. Centric Software applies sophisticated product search to identifying and refining new product development and introduction processes .” (AMR; Search Redefined (Again): Looking for Business Intelligence, February 2007)
- Received honorable mention for Industry Week Technology of the Year award for Centric InSight
“This new market for Product Intelligence applications is characterized by companies with global teams using multiple source applications. These teams want to continue to leverage existing applications and existing business processes, rather than undertaking a massive, disruptive re-vaulting of information. Other customers for PI applications recognize that all information will never be in one place, so that rather than revaulting, these companies choose to find and connect to the information where it exists,” continued Groves.
About Centric Software, Inc.
With Product Intelligence solutions from Centric Software, global executives and multidisciplinary teams collect all relevant information for any product or capital program initiative, decide on the appropriate action, execute on the initiatives, and assess progress against business goals. Global enterprises, such as Bristol-Myers Squibb, Coleman, Emerson, Moen, Hamilton Sundstrand, Siemens, Timex, Volvo, Iowa State University and others, use Centric's solutions to achieve top line revenue growth, direct cost reductions and insight into capital programs. Customers represent multiple industries, including aerospace, automotive, consumer goods, AEC/owner operator, life sciences, consumer electronics and universities.
For more information on Centric Software, visit: www.centricsoftware.com.
The numbers provided have not been audited yet and are subject to change as a result of the audit.
Cheryl Walsh, 781-404-2428