manufacturers take a more systematic, enterprise-wide view as they look at new opportunities to drive product profitability and accelerate cycle times
- Escalating adoption of enterprise product costing solutions across all geographies combined with strong subscription renewals fuel company’s success -
London, UK – 27 June 2013 – aPriori, a provider of enterprise product cost management software solutions, today announced record results for its 2013 fiscal year ending April 30, 2013. The company reported new highs in revenues, bookings, numbers of new customers and recurring revenues. The growth was fuelled by strong performance in Europe; continued penetration in automotive, high tech, energy, industrial equipment and transportation; the expansion of existing European and North American customer deployments, as well as new capabilities in its December 2012 software release.
Important milestones for the company in FY 2013 include:
• Revenues grew 84% year-on-year
• Bookings grew 48% year-on-year
• International revenues grew 367% year-on-year
• Existing customers renewed at a rate of 90% - for the fifth consecutive year
• New customers in all geographies drove a 62% expansion of the customer base
aPriori’s product cost management software leverages computer-aided design and intelligent cost models to quickly and automatically generate detailed manufacturing analysis and cost estimates and to quantify the impact of changes to product design, materials, manufacturing processes, volumes and location in real time. The software also enables users to leverage product cost data hosted in other critical enterprise applications to communicate product cost information between all functional organisations involved in product definition and delivery. This includes the import of complex engineering Bills of Materials (BOMs) from ERP, PLM or other enterprise applications.
“We’re seeing manufacturers take a more systematic, enterprise-wide view as they look at new opportunities to drive product profitability and accelerate cycle times,” said Stephanie Feraday, aPriori’s president and chief executive officer. “aPriori is particularly well positioned to help them do that. Our users can integrate and leverage important information from their other enterprise applications to support cost tracking in new product development, evaluate product design alternatives at the functional group or complete product level, and understand the cost implications of different tradeoff decisions. As a result, they are multiplying the impact and ROI of their cost management efforts.”
Key highlights for aPriori during FY 2013 include:
Continued strong growth in Europe – aPriori continued to add new customers across the continent in FY 2013 including Advanced Technology Valve (ATV), an Italian manufacturer of high quality flow control technology for the oil, gas and energy industry in Europe; Multitest, one of the world’s leading manufacturers of test equipment for integrated semiconductor chips; Tofas, Turkey’s largest automotive manufacturer; and Netherlands-based VMI Group, an international specialist in tyre and rubber component machinery. These companies have deployed aPriori to optimise and accelerate their cost management efforts and improve their ability to identify and remove unnecessary costs at the design stage of the product lifecycle.
Major new product release – In December 2012, aPriori released aP 2012r2 expanding the solution’s capabilities, further extending its use across global manufacturing organisations and continuing the company’s mission to help manufacturers increase profits and drive product cost awareness upstream into the earliest stages of new product development. With the new release, users can evaluate the cost of entire Bills of Materials and product assemblies. It also enables manufacturers to easily leverage data hosted in other critical enterprise applications such as ERP and PLM systems, and communicate product cost information between all functional organisations involved in product definition and delivery.
Partnership with leading University Research Lab & DARPA - aPriori was selected by the Applied Research Lab at America’s Penn State University (ARL-PSU) to support its recent contract award from the Defense Advanced Research Projects Agency (DARPA). ARL-PSU is using aPriori as an automated back-end solution for optimising manufacturing cycle time and product costs for DARPA’s Adaptive Vehicle Make (AVM) program. The goal of AVM is to reduce the development cycle time for complex defence systems by a factor of five.
aPriori Named ‘Cool Vendor’ by Gartner – This past April, aPriori was named one of Gartner’s Cool Vendors in Product Design and Life Cycle Management for 2013. The company was recognised based on the ability of its software to predict the impact of design, manufacturing and sourcing choices on product cost earlier than previously achievable and to enable manufacturers to translate that knowledge into greater profits, innovation and faster time to market. aPriori was one of just five companies recognised in the Product Design and Life Cycle Management category by Gartner. Specifically, the report called out aPriori’s automated approach to product cost analysis versus conventional manual approaches used by most manufacturers today. According to the report, these manufacturers miss opportunities for cost savings because they cannot conduct their manual analysis until after most of the product costs are already locked in.
MITX Award Winner – In FY 2013, aPriori was also recognised by the MITX Innovation Awards for its ability to simplify business operations for manufacturers. The Best Business Operations Simplifier category recognises innovative technologies that fundamentally improve how organisations tackle their most challenging internal tasks. The award called out aPriori’s ability to address a highly complex and universal problem for manufacturers that can normally only be addressed by highly-trained cost experts within the organisation. Its Product Cost Management software can be used by anyone in a manufacturing organisation that impacts product cost. The annual MITX Innovation Awards program is the largest awards competition of its kind, celebrating the innovations powering the future of marketing and revolutionising the way we work and play.
aPriori software and services generate hard-cash 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, maximise savings in re-work projects and avoid overpaying for sourced parts. To learn more about aPriori and its product cost management solutions and services, visit www.apriori.com. To see an overview demonstration of aPriori, click here.
aPriori on Twitter @aPriori_Inc.
aPriori Enterprise Product Costing Blog: http://www.aprioricommunity.com/
Gartner 2013 Cool Vendor in Product Design and Life Cycle Management
aPriori and aPriori Technologies are registered trademarks of aPriori Technologies Inc. All other trademarks, registered trademarks or service marks belong to their respective holders.
Max McConnell or Brooke Wenrick
Prompt Communications on behalf of aPriori
Tel: +44 20 8996 1653
This press release was distributed by ResponseSource Press Release Wire on behalf of aPriori in the following categories: Consumer Technology, Business & Finance, Manufacturing, Engineering & Energy, for more information visit https://pressreleasewire.responsesource.com/about.