MOUNTAIN VIEW, Calif., June 22, 2011 /PRNewswire/ -- Based on its recent analysis of the metrology software market, Frost & Sullivan recognizes InnovMetric Software Inc. with the 2011 Global Frost & Sullivan Award for Growth Leadership. The company's exceptionally high growth rate can be attributed to its unparalleled technological expertise and its exceptional customer support. PolyWorks® universal 3D metrology software platform is extensively used by the world's largest manufacturing companies operating in the automotive, aeronautics and high-end consumer goods industry.
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The major differentiating factor that makes InnovMetric's metrology software unique is that it supports both point cloud and probing software. This exceptional value proposition has enabled the company to achieve seven percent growth in the year ending March 2010.
"Even during tough economic conditions, InnovMetric emerged unscathed with its superior offerings and customer support," states Frost & Sullivan research analyst Prathima Bommakanti. "It has also recorded an outstanding growth rate of 20 percent in the last three quarters of 2010, along with an exceptional increase in its software-installed base. To date, the company has sold around 7,000 licenses."
While other major market participants in the metrology software market operate in horizontal markets and cater to a diversified customer base, InnovMetric designs customized solutions for high-end niche markets. Such a strong focus on specific industries has enabled it to acquire specialized skills and expertise that helps deliver the highest quality products tailored for specific industry verticals.
Moreover, InnovMetric offers complete software solutions to its customers to address all possible metrological applications included in their manufacturing processes. This ability to provide end-to-end solutions makes it a one-stop shop for its customers, thus increasing convenience. The company boasts an impressive customer base including Toyota, General Motors and Volkswagen under automotive; Boeing, Rolls-Royce and Pratt & Whitney under Aeronautics; and Apple, Bombardier and Braun in the consumer goods segment.
InnovMetric's ability to adapt itself to market changes has enabled it to introduce solutions more rapidly than its competitors have. This has enabled it to successfully capture market share and stay ahead of the competition.
"Further, constant analysis of customer feedback has enabled the company to introduce newer versions of PolyWorks to suit requirements that are more specialized," notes Bommakanti. "InnovMetric ensures regular contact with its key customers to gather feedback and requests to address their needs quickly and efficiently."
InnovMetric also follows a distribution strategy that focuses on the careful selection of channel partners. Its distributors are strongly connected to the automotive and aeronautics industries and are also independent of the large participants in the software metrology market. Hence, InnovMetric enjoys a direct sales channel as well as a highly efficient indirect distribution channel, which expands its geographic presence in lucrative markets such as Germany, Japan and the U.S.
Finally, InnovMetric is well-known for its exceptional technical support across the world. It maintains an international infrastructure to deliver first-hand assistance to its customers worldwide and is one of the few metrology companies having technical support partners in all the four BRIC countries. This strong focus on technical support has enabled it to achieve a large and loyal customer base, which too has resulted in its market success.
Based on these factors, Frost & Sullivan is proud to present InnovMetric Software with the 2011 Global Growth Leadership Award in the metrology software space. Each year, Frost & Sullivan presents this award to the company that has demonstrated excellence in capturing the highest annual compound growth rate for the last three years.
Frost & Sullivan's Best Practices Awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis and extensive secondary research in order to identify best practices in the industry.
About InnovMetric Software Inc.
Founded in 1994, in Quebec City, Canada, with subsidiaries and distributors worldwide, InnovMetric Software Inc. develops and commercializes PolyWorks ®, a universal 3D metrology software platform that offers the flexibility of combining high-density point cloud digitizers and tactile probing devices within the same measurement task, ensuring optimal accuracy and speed under all circumstances. The world's largest industrial manufacturing organizations that use PolyWorks every day trust it for its flexibility, its robustness, and top-of-the-class technical support.
For more information, visit www.innovmetric.com
About Frost & Sullivan
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