Geometric increases focus on non-core verticals
In 2009, the product lifecycle management (PLM) market suffered due to the recession with revenues dropping nearly 10 percent, according to research firm CIMdata. With the market having improved since the beginning of 2010, PLM services provider - Geometric, feels the time is right to start exploring other verticals and opportunities.
As part of its new strategy, the company will invest in developing specially tailored PLM solutions. An example is a recent project that Geometric bagged for a client in the hi-tech vertical, its first in this segment, which combines features of both PLM and ERP. These solutions will be developed in conjunction with software partners like Dassault Systemes (EPA:DSY), Oracle (NASDAQ:ORCL), Parametric Technology Corporation (NASDAQ:PMTC), Siemens PLM, etc., with the IP of the hybrid solution remaining with Geometric. The company hopes these hybrid solutions will be of interest to non-traditional verticals like fashion apparel, packaging, pharmaceuticals, etc.
“PLM is seen as a solution for the manufacturing sector, but there is scope in other verticals too. We are looking to tap this market with new hybrid solutions and by leveraging our partnerships with software vendors,” commented Nitin Tappe, VP and head of software services business at Geometric.
By increasing its focus on these non-traditional verticals, Geometric is looking to steal a march on its competitors who, says Tappe, are still focusing on the manufacturing sector. “Growth in the PLM space will happen in two areas - projects in the discrete manufacturing space will get bigger and start encompassing more functions like intelligent scoping, digital manufacturing, requirement management, etc. However, interest from non-core verticals will also increase and this is will be our main focus going forward,” he said.
Meanwhile, even though the company feels these new verticals will be a big opportunity, it has no plans to start creating separate solutions for each client. Their idea is to create ‘repetitive’ products which will be of interest to other clients too. Asked whether the company would sell the PLM-ERP hybrid solution to other clients too, Tappe said it was evaluating all possibilities in the Indian market.
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