Arena Announces Record Fourth Quarter and a Record Fiscal Year with 150% Increase in Revenues
Foster City, Calif., Jan 26 - Arena Solutions, Inc., the leading provider of on-demand Product Lifecycle Management (PLM), today announced a 150 percent increase over FY
With 29 customer wins in the fourth quarter, the company continues to demonstrate accelerating market adoption of its web-native, hosted solution for managing complex design and manufacturing product information and processes. Arena’s customers are dramatically increasing profitability by reducing final product costs and decreasing time to market.
“It’s an exciting and energizing period,” said Michael Topolovac, Chief Executive Officer of Arena Solutions. “We’re not only seeing our solution being successfully used by a number of companies in different industries, but are also seeing these customers return to us for expanded deployments in other parts of their organizations. Companies are realizing the ROI and strategic benefits of using a true on-demand PLM solution for managing all aspects of their product development cycle.”
Enterprises today are faced with strategic and operational challenges in an era of increased customer choice and empowerment, especially as new competitors emerge from low-cost technology economies such as China and India. Time to market and managed product complexity are issues of growing importance as enterprises move to achieve product and cost leadership. Arena’s on-demand PLM solution provides the foundation to successfully address these issues and manage a multitude of globally distributed, product centric business processes.
ARC Advisory Group predicts that adoption of PLM solutions will continue to accelerate, becoming one of the top enterprise software markets through 2008. According to a new ARC Advisory Group study, the worldwide market for PLM software and services is forecasted to be nearly $9.2 billion in 2008.
With more than 200 customers, 74 of which were secured in FY’04, Arena continues to be the fastest-growing PLM provider in the industry. Arena PLM can be implemented almost immediately and accessed via standard web browsers across an entire chain of manufacturers, suppliers and outsourcing partners. The on-demand delivery model eliminates upfront software and hardware costs, ongoing IT management requirements, and the overall complexity of client-server software.