Company News Digital acceleration heightens PTC’s expansion
A provider of Industrial Internet of Things (IIoT) solutions is reporting a 25 % increase in channel sales, with operational issues caused by Covid-19 accelerating the race for digital transformation.
Farnborough-based PTC has seen strong growth across its portfolio, including its Industrial IoT platform, product lifecycle management and CAD solutions for design and manufacturing companies across all industries.
The company has also been driving the industrial use of Augmented Reality through its Vuforia Expert Capture software, which allows processes to be recorded, edited in the cloud and then viewed in another location via wearable tech, such as Microsoft Hololens.
Initially this was being used by companies to teach processes to new employees, but the solution delivered a unique value during the start of the pandemic when PTC worked with the VentilatorChallengeUK Consortium to train hundreds of frontline workers to produce ventilators at various sites across the country.
This approach to rapidly building new Smiths and Penlon production lines enabled the successful delivery of over 13,000 ventilators to the NHS in just a few months.
“We are seeing phenomenal growth in the number of businesses embracing digitalisation, with many bringing forward projects in order to avoid situations seen earlier this year,” explained David Grammer, General Manager of UK and Ireland for PTC.
“What has gone from ‘general interest, but we’ll take action later’ has turned into ‘we want it now’, which has seen our integration teams implementing our IIoT platform and AR remote app to enable work to continue despite travel bans and social distancing restrictions.”
He continued: “Over the last twelve months, sales have risen 25 % in the UK and Ireland and we expect the upward growth trend to continue as we work to turn this interest in digital technologies into operational and commercial benefits for our customers.”
PTC’s operational structure has been further boosted with the recent appointment of Troy K. Richardson as Executive Vice President and Chief Operating Officer.
Richardson will lead the company’s operations teams, including global sales, commercial marketing, customer service and customer success.
“I couldn’t be more excited to join at this important moment in the company’s history,” said Troy Richardson.