CIMdata PLM Industry Summary Online Archive
7 February 2005
Company News
Product Lifecycle Management Provider Formation Systems Announces Record Year of Growth
Formation Systems announced that the company achieved record growth in 2004.
"It has been an exceptional year for Formation Systems," said Trent Landreth, CEO of Formation Systems. "We experienced tremendous growth, both organically and through new customer wins. With an expanded sales force aggressively focused on our three target markets - food and beverage, home and personal care and specialty chemicals - and with the early 2005 release of our next generation product development solution, Optiva V, Formation Systems is poised for another banner year in 2005."
Significant 2004 milestones include the addition of new customers across the process manufacturing industries, accounting for a 17 percent increase in Formation Systems customers. New customers include Campbell Soup Company and Hormel Foods Corporation. In addition, 58 percent of Formation Systems' existing customers expanded their investments in Optiva, helping to increase the number of active Optiva users worldwide by more than 1,300 users.
Optiva, Formation Systems' flagship software, is the premier product development solution for process manufacturing companies in more than 40 countries. Optiva is the only PLM solution that automates the entire product development process, enabling companies to create better products faster, at lower
The U.S. Food Allergen Labeling and Consumer Protection Act (FALCPA), Hazard Analysis and Critical Control Point (HACCP) and Europe's Registration, Evaluation and Authorization of Chemicals (REACH) are three examples of regulations with which process manufacturers must comply. In 2004, Formation Systems continued to help customers meet and prepare for these and many other regulations by providing them with the ability to track ingredients down to the raw material level and automate the generation of accurate, compliant labels and reports.
The next generation of Optiva, launched in January 2005, provides expanded functionality and advanced technology enabling companies to more quickly achieve global compliance, further enhance their product development processes and improve their ability to innovate by enabling products to be designed for the supply chain.
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