Arena Announces a Net New Renewal Rate of 118% For the Second Quarter of 2012
Foster City, Calif., Aug 16 - Arena Solutions, a provider of cloud PLM applications, today announced a net new renewal rate of 118% for the second quarter of 2012 and a 21% increase in net new subscriptions as compared to the same period a year ago.
Additionally, Arena saw a 38% increase in first year customer subscriptions. According to chief financial officer Ken Bozzini, the increase is due largely to the solution's ease of use, as well as an enhanced onboarding process that makes Arena BOMControl easy to implement. “Earlier this year we invested in making our trial process and implementation track more approachable for customers. We’re now seeing that pay off as customers are up and running sooner, and are quicker to increase their BOMControl investments as the value is realized.”
In its second quarter, Arena also leveraged strategic partnerships to develop new add-ons and integrations for its cloud PLM solution. Leveraging its partnership with Octopart, an electronic component aggregator, Arena released Supplier Item Lookup, a BOMControl add-on that pulls up-to-date supplier information from Octopart about market availability, lifecycle status and regulatory or environmental compliance.
Arena also announced a new partnership with ERP Logic, an SAP channel partner and global business solutions implementation and consulting company. This partnership fueled an integration that enables the automatic transfer of up-to-date product data from Arena BOMControl to SAP Business ByDesign. According to Andrea Pitts, vice president of sales and strategic alliances at Arena, “We are extremely pleased by the innovative and high quality solutions we’ve been able to launch by connecting with other cloud companies in the space. We will continue to work with our partners to develop solutions that automate the flow of product information between companies and radically reduce transaction costs."
Also in Q2 of 2012, Arena surpassed its 99.5% service level agreement with 99.99% scheduled uptime and a continued focus on delivering the most secure and reliable collaborative BOM and change management solution available.
As always, Arena attracted a variety of innovative new customers in the second quarter from industries including high-tech electronics, clean technology, consumer products, medical device manufacturing and more. New subscribers included:
Data Translation Ltd.—A designer and manufacturer of data acquisition solutions for test and measurement.
Lighting Science—A manufacturer of energy efficient LED lighting bulbs and fixtures.
Remote Controlled Lighting, Ltd.—A designer and manufacturer of low cost remote controlled spotlights.
PapaBravo Innovations—A manufacturer of electric mining vehicles designed specifically for underground environments.
UpWind Solutions—A leading third party provider of asset management operations and maintenance services.
Zeelander Yachts—A designer and manufacturer of high-end yachts.
About Arena Solutions
For over a decade, Arena has been redefining PLM with a suite of cloud applications that enable engineering, manufacturing and their extended supply chains to work better together—from first prototype to full-scale production. Arena helps innovative manufacturers bring better products to market faster with cloud PLM offerings that speed prototyping, reduce scrap and help manufacturers collaborate on product changes with strategic partners across the globe.