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CostVision Integrates Product Costing Software With PTC Mechanical Design ToolsPartnership Gives Designers Early View of Product Costs (October 29, 2001)
The integrated CostVision offering will provide PTC software users with a window into product costing during the design phase of the product lifecycle; keeping customers aware of manufacturing costs through each step of the design process. This is achieved by extracting feature parameters and bill of materials data from MCAD models and transferring them into CostVision's product costing software, Cost2Target.
Nick Maly, ESP program manager at PTC said, "Cost2Target is a unique product that addresses a major customer pain point, 'How can one reduce product cost throughout the design process?' The CostVision solution increases the value to Pro/ENGINEER users by tightly integrating with their existing CAD systems. PTC believes that the integration enables a strategic advantage in cost reduction for our joint customers."
Charlie Stirk, president of CostVision, commented, "The CostVision integration with Pro/ENGINEER made possible through the ESP program will add significant value to the current users of both programs, by reducing costs and allowing customers to predict manufacturing costs during the design process. Partnership in the ESP program will also dramatically enhance CostVision's position in the MCAD market and enable access to a wealth of new users."
CostVision, founded in 1996, is an independent software vendor of costing software for discrete manufacturing industries. From the earliest stages of product development, the web-based software helps predict product cost based on specifications, CAD models, and process information. Use of CostVision's software can achieve signifcant manufacturing cost savings and speed time to market by reducing late engineering change orders. Additional information about CostVision can be found on its website, http://www.costvsion.com.
PTC (Nasdaq: PMTC) develops, markets, and supports software solutions and services that help manufacturers get superior products to market before their competitors. PTC is the world's largest software company with a total commitment to product development. The company services more than 32,000 customers worldwide. Further information on PTC is available at http://www.ptc.com.
Matters discussed in this news release may constitute forward-looking statements involving risks and uncertainties that could cause actual results to differ materially from those projected. These include the ability of PTC and CostVision to anticipate and adequately respond to evolving customer requirements and successfully develop, integrate and support their respective technologies to deliver products and services that meet those requirements together with those detailed in reports filed by PTC with the Securities and Exchange Commission, including PTC's most recent reports on Form 10-K and 10- Q. Use of the terms "partner", "alliance" or similar terms herein refers solely to the spirit of cooperation between the parties and does not describe or create a legal partnership, joint venture or any responsibility by one party for the actions of the other.
Related Keywords:CostVision, PTC Mechanical Design Tools, CAD
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