(USA, FEBRUARY 25 2010) In spite of a difficult year for IT spending and business investment, Centric ended its fiscal 2010 on January 31 with impressive year-over-year gains in sales, coupled with a host of strategic achievements.
Centric representatives spoke repeatedly throughout 2009 on a “Leaders Lead” theme, about the need for companies to invest strategically to emerge stronger as the economy recovers. Many of Centric’s customers adopted this strategy and made Centric product offerings key investments during the year. This resulted in another record year. And Centric heeded its own advice, with significant investments in new product introductions, technical advances, and successful customer initiatives.
“Our focus this year was to stay close to our customers, understand the issues they faced, and provide solutions that enabled them to weather the economic conditions, and emerge stronger and more competitive as their business conditions improve,” said Chris Groves, president and CEO at Centric. “The strategy paid off. We were able to build on our record performance of the prior year, and grow sales by over 40% in target markets.”
Centric posted over 40% annual increase in sales in fiscal 2010 over last year’s record performance.
• Customers with hard lines, soft lines or both in the apparel and fast moving consumer goods markets voted their confidence in Centric 8, the company’s comprehensive, web-based product lifecycle management (PLM) and sourcing solution. New or add-on orders were placed by companies including Arden Companies, BassPro Shops, Bravo Sports, Charlotte Russe Holding, Colmar – Manifattura Mario Colombo and Company, Dorel Juvenile Group, INTERSPORT France, KlimUSA, The Coleman Company and more.
• Customers in the automotive, pharmaceutical, construction and building, and education industries placed new or expansion orders for Centric Project and other Centric solutions that manage complex product or process data for large teams. Significant orders were placed by companies including Kiewit, Johnson and Johnson, Bristol Meyer Squibb and Princeton University.
Centric product investment delivered innovation for both the Centric 8 PLM and sourcing suite, and the Centric Project family of products.
Centric 8 – A new version of Centric 8 PLM and sourcing suite for apparel and fast moving consumer goods companies was launched. It incorporated significant new capabilities to help customers reduce product costs, closely monitor product gross margins, improve collaboration among global design teams, suppliers and partners, and manage top-down/bottoms-up line planning and profitability alignment. Among the new features and enhancements in Centric 8:
• New Product Profitability Planning module that factors all aspects of contribution margin into planning and managing a product’s profitability, across development, sales channels and suppliers, and ensures products meet margin targets before they launch.
• Enhanced Centric Product Specification module that delivers stronger materials management, storyboard and other capabilities to improve collaboration for global product development teams.
• Improved Enterprise Connectivity with all new, robust connectors to systems often used by design teams, including Adobe Creative Suite and Gerber Technology WebPDM.
• New Centric Enterprise Search – provides dynamic classification of search results, and extends search and discovery to information outside of the Centric 8 suite so users can easily find data housed in other systems, bring that information into Centric 8, and make better, more informed decisions.
Centric Project – The Centric Project family of products was revamped.
• An innovative and modern, thin-client interface was introduced. As a result, users were presented with a friendlier, easier to use interface that helps them achieve significant productivity improvements as global team members collaborate in Centric Project’s online project management workspace to assure project success.
• New Centric Project Enterprise Search – provides dynamic classification of search results, and extends search and discovery to information outside of Centric Project.
Other Initiatives and Achievements
• Centric’s inaugural Customer Advisory Board meeting was held in New York in the fall, and attended by customers in the retail, fashion and consumer goods markets.
• The U. S. Patent Office awarded a patent titled “Managing and Unifying Structured Representations of Product Information” to Centric. The patent recognizes a unique business method which enables products to be delivered more quickly and more efficiently in a multi-group setting, with fewer errors, and at lower costs and desired level of re-use.
• Centric implemented a best-practices based implementation methodology to help customers in the apparel and fast moving consumer goods industries realize rapid deployment and return on technology investment.