Arena Solutions Reports 38% Increase in Revenues and Continued Growth in International Customer Base
Foster City, Calif., Sep 25 - Arena Solutions, the leading provider of on-demand product lifecycle management (PLM) software for manufacturers of all sizes, today announced a 38 percent quarter-over-quarter gain and 103% year-over-year gain in revenues for its second quarter, ended June 30, 2008. During the Q208 quarter, Arena continued to see growth in its customer base, with continued interest from manufacturers outside of the United States. Sales cycles were also considerably shorter, as more than half of all sales closed in eight weeks or less.
Challenging economic conditions inspired many existing customers to work with Arena to maximize their subscriptions and expand their use of Arena PLM to further accelerate product development and optimize the way they handle key processes, such as engineering change management, new product introduction, compliance, and manufacturing outsourcing. These customers clearly see that increasing their investment in on-demand Arena PLM now quickly pays for itself with reduced errors, higher productivity and greater control.
"As a contract manufacturer we get bills of materials (BOMs) in every conceivable form. Arena PLM gives us a central repository, a common format, and revision control that is nearly impossible to maintain otherwise," said Rod Mullins, process engineering manager at Idaho-based Western Electronics. "The ability to lock all data once a product is released to production is key, and the automated routing of BOM changes reduces the time to implement a change and minimizes the potential of a misbuild. This enhanced control and improved communication are especially important during periods of economic slowdown when our customers are even more concerned with avoiding waste, redundancy, and costly errors."
Among the many growing companies who selected Arena PLM during Q208 to streamline their product development processes are Bell Micro, Blue Vector Systems, CoAdna Photonics, Cue Acoustics, Trilliant Networks, Meshnetics, and Navman Wireless. These companies all avoided the high costs, complexities and limitations associated with traditional client/server PLM applications.
Other significant highlights of Q2 2008:
- Arena Solutions made several new appointments to the management team this quarter to ensure the company continues to expand quickly while optimizing Arena PLM to best solve small and mid-sized manufacturers' key challenges.
- Arena launched the new Summer '08 release of Arena PLM, filled with improvements in every area of the product and specific emphasis on change management and visibility. Summer '08 solidified Arena PLM as the epicenter of the product development environment and boosted customers' ability to leverage the "single version of the truth" managed in the system.
- START-IT honored Arena Solutions for its PLM leadership with a position on the magazine's list of Most Influential Manufacturing Technology Providers. Later in Q208, START-IT again honored the company, naming it one of the industry's Hottest Companies of 2008. This marks the company's sixth straight win for its innovative, on-demand PLM technology that helps manufacturers succeed.
- Arena formed and hosted the inaugural event of the PLM Network to connect PLM software users in a single community and open lines of communication among those who are at the forefront of applying this technology. The forum offers PLM users—no matter which PLM software they use—the opportunity to learn best practices, consult experts, discuss unique uses of the software, and share insights with others who share their interests and job challenges.
- Arena surpassed its 99.5 percent service level agreement for the ninth consecutive quarter, with 100 percent scheduled uptime in Q2 2008 and a continued commitment to building and delivering the most secure, reliable PLM solution available.
"I recently read a statistic from the Aberdeen Group, which said a company is 26% more likely to hit product launch dates, and 17% more likely to meet product revenue targets when it integrates PLM into its enterprise ecosystem," said Craig Livingston, chief executive officer at Arena Solutions. "Hitting key dates and targets is even more critical in challenging economic times. We're thrilled that so many companies recognize the many ways Arena PLM can help them achieve those goals and became new customers during the quarter."