Quadrant Knowledge Solutions announced today that it has named PTC as the 2022 technology leader in the SPARK Matrix analysis of the global Retail PLM market.
The Quadrant Knowledge Solutions SPARK Matrix™ includes a detailed analysis of global market dynamics, major trends, vendor landscape, and competitive positioning. The study provides competitive analysis and ranking of the leading technology vendors in the form of its SPARK Matrix. It gives strategic information for users to evaluate different provider capabilities, competitive differentiation, and market position.
According to Ankit Sharma, Analyst, at Quadrant Knowledge Solutions, “PTC’s FlexPLM platform is highly scalable with an eComm-inspired user experience and provides real-time product changes. The company focuses on user efficiency, personalization, digital product creation, purpose-built apps, and SaaS optimization to deliver more customer value.“ Ankit further adds, “FlexPLM provides end-to-end, actionable visibility alongside automation and seamless workflows to enable brands and retailers to accelerate their product development. The platform streamlines day-to-day activities to achieve consistent process optimization. PTC, with its comprehensive functional capabilities, cloud-native approach, centralized platform, highly secure architecture, and robust product roadmap, has been positioned as the leader in the 2022 SPARK Matrix of the Retail Product Lifecycle Management (PLM) solution market.”
“We are honored and thrilled to have been named the Retail and Consumer Products PLM market leader by Quadrant Knowledge Solutions,” said Bill Brewster, Senior Vice President and General Manager of PTC’s Retail Business Unit. “This global industry recognition comes on the back of record growth for PTC Retail in the areas of new customer acquisition, enterprise-scale expansions, and global user numbers. Our leadership position in this competitive assessment reflects the trust that world’s most successful and well-known brands and retailers have in PTC and the confidence they have in our long-term strategy and commitment to retail and consumer products industry,” continued Brewster.
Quadrant Knowledge Solutions defines a Retail Product Lifecycle Management (PLM) as a solution that is focused on helping retail organizations effectively manage the end-to-end retail process including product ideation, development, supplier collaboration, and selling to customers. The solution facilitates time to market, maximizes operational efficiency and productivity, and enhances product portfolio. The Retail PLM platform provides comprehensive visibility from ideation to the delivery stage to enable organizations to offer products aligned to the market demand, pricing and stipulated time.
Global retailers have well understood the importance of embracing retail strategies to succeed in a highly competitive environment with ever-increasing expectations around customer experience. Retail Product Lifecycle Management Platform plays an essential role in the journey toward retail product development. Retail PLM allows retailers to deliver a seamless, consistent, and personalized experience and provide the flexibility to collaborate and enhance visibility across the product development cycle.
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