Frost & Sullivan recently researched the fashion, retail, and consumer goods product lifecycle management (PLM) industry and, based on its findings, recognizes Centric Software with the 2023 Global Customer Value Leadership Award. Centric Software is a fast-moving company in the PLM industry for the fashion, retail, and consumer goods sectors. The company delivers a Product Concept to Launch Platform that includes leading-edge PLM, Planning and Pricing solutions with an extensive portfolio of tools that enables seamless data analytics to streamline product management.
Centric Software’s products help businesses become operationally efficient in an industry plagued by inefficient processes and a range of limited solutions that do not provide the same effectiveness as Centric Software’s products. The company offers world-class solutions, such as Centric Pricing™ and Centric Planning™. Centric Pricing provides access to competitors’ product comparisons and analytics to enhance product allocation and pricing. Centric Planning enables enterprises in the decision-making process by keeping inventory under control, forecasting demand with augmented intelligence (AI) capabilities, and improving sales across all channels, among other benefits.
“Centric Software identified the pitfalls of the traditional PLM systems, primarily using spreadsheets or manpower to attempt to manage product development and allocation, finding these systems time consuming and not easily updated, thus ineffective and inaccurate in the long term. Centric Software created its portfolio with these pitfalls in mind and designed its product offering to help customers orchestrate a competitive retail and product strategy and maximize revenues by increasing agility and decreasing time-to-market using data-driven insights,” said Michelle Funke, Best Practices Analyst at Frost & Sullivan.
Centric Software addresses the evolving needs of brands, retailers and manufacturers in multiple verticals and tailors innovative solutions directly based on their feedback. The company prioritizes customer feedback by regularly collaborating with users to gain valuable insights into features and capabilities, of which customers can take advantage.
This comprehensive customer-centric approach offers enormous value to customers and solidifies Centric Software’s reputation in the marketplace, with its impressive 99% customer retention rate. Centric Software, therefore, continually evolves and innovates to expand its services and meet the unique demands of its customers. In addition, the company is expanding the capabilities of its AI and machine learning (ML) product line to increase efficiency.
“The product concept to launch platform addresses problems across the entire market value chain, from understanding the market, product design and development, sourcing, packaging, compliance, pricing and selling by optimizing omnichannel revenues. Brands, retailers and manufacturers leveraging Centric Software see significant return on investment from the platform, including 20% to 100% improved operating margins and 5% to 15% reduced cost of goods sold,” noted Karthik Sundaram, Research Director, Industrial at Frost & Sullivan.
Each year, Frost & Sullivan presents this award to the company that demonstrates excellence in implementing strategies that proactively create value for its customers, focusing on improving the return on the investment that customers make in its services or products. The award recognizes Centric Software’s unique focus on augmenting its customers’ value, beyond simply good customer service, leading to improved customer retention and customer base expansion.
Frost & Sullivan Best Practices Awards recognize companies in various regional and global markets for demonstrating outstanding achievement and superior performance in leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analyses, and extensive secondary research to identify best practices in the industry.
Centric Software® (www.centricsoftware.com)
From its headquarters in Silicon Valley, Centric Software provides a product concept to launch platform for consumer goods such as fashion, retail, footwear, luxury, outdoor, consumer electronics, cosmetics & personal care and food & beverage. Centric Software’s flagship Product Lifecycle Management (PLM) platform, Centric PLM®, delivers enterprise-class merchandise planning, product development, sourcing, quality and product portfolio optimization innovations specifically for fast-moving consumer industries. Centric Visual BoardsTM offer highly visual, touch-screen experiences for collaboration and decision-making. Centric PlanningTM is an innovative, cloud-native, augmented-intelligence solution delivering end-to-end retail planning to maximize retail and wholesale business performance. Centric PricingTM, powered by StyleSageTM, is an AI-driven market insight platform for data-informed decision-making on pricing and product assortments to maximize revenue and margins. Among many other market-driven innovations, Centric Software is widely known for its connectivity to dozens of other enterprise systems, including ERP, DAM, PIM, e-com and more, in addition to creative tools such as Adobe® Illustrator, a host of 3D CAD connectors and sustainability tools, such as Higg. Centric Software has the highest user adoption rate, customer satisfaction rate and fastest time to value in the industry.
Centric Software is a subsidiary of Dassault Systèmes (Euronext Paris: #13065, DSY.PA), the world leader in 3D design software, 3D digital mock-up and PLM solutions.
Centric Software has received multiple industry awards and recognition, including being named by Red Herring to its Top 100 Global list several times. Centric Software also received five excellence awards from Frost & Sullivan over the past decade.
Centric Software and Centric PLM are registered trademarks of Centric Software, Inc. In the US and other countries. All third-party trademarks are trademarks of their respective owners.
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