ETQ Accelerates Momentum in First Quarter 2024 as Manufacturers Embrace Quality Management to Reduce Product Recalls, Improve Operational Efficiency

Rhea-AI Summary

ETQ, part of Hexagon, showed significant growth in the first quarter of 2024 with the addition of new enterprise customers in various sectors and the expansion of its cloud-based QMS, ETQ Reliance NXG. The company is focused on helping manufacturers reduce product recalls, enhance operational efficiency, and comply with quality standards.

Positive

• ETQ expanded its customer base with over 20 new customers in Q1 2024, including industry leaders like Dart Container, PPG Industries, and Hamilton Medical.
• The new version of ETQ Reliance NXG introduced features like real-time collaboration on Microsoft Word documents and Depositor User Access for easier data capture.
• ETQ's continuous focus on enhancing its QMS to meet customer needs and support quality processes has led to significant growth and adoption by manufacturers worldwide.

Negative

• None.

Expanding Customer Base, Enhanced Functionality of Leading Cloud-Based QMS Fuel Growth  

BURLINGTON, Mass., April 30, 2024 /PRNewswire/ -- ETQ, part of Hexagon, today announced that it reached critical milestones in the first quarter of 2024, driven by the addition of key new enterprise customers in the Americas, Europe and Asia. New logos added to the ETQ Reliance® family include major manufacturers in the life sciences, automotive, aerospace, chemical and food and beverage sectors. During the quarter the company also significantly expanded the capabilities of its award-winning ETQ Reliance® NXG, cloud-native quality management system (QMS).

"With the rise of product recalls and rapidly changing compliance mandates, as well as the imperative to reduce risk and boost quality and safety across the manufacturing enterprise, an increasing number of manufacturers are turning to ETQ Reliance to automate their quality processes and deliver measurable business value to their organizations," said Vick Vaishnavi, CEO, ETQ. "In the first quarter of the new year, we have been busy onboarding new customers and working closely with all customers to continuously build upon ETQ Reliance, with the new features and functionality that matter to them most."

Expanded Customer Base

In the first quarter of 2024, leading manufacturers around the world chose ETQ Reliance to automate their quality processes as a means of reducing the cost of poor quality, ensuring compliance and quality at scale, and improving the quality performance of their suppliers. New customers recognize the role ETQ can play in helping them boost operational efficiencies, significantly improve their quality outcomes and leverage quality data to create a single source of truth across the enterprise to spur greater decision velocity and impact.

More than 20 news customers were added in the first quarter of 2024. The list includes industry leaders from around the world, such as Dart Container, PPG Industries, Hamilton Medical, Charter Manufacturing, Giti Tire, Farsound, Fu Yu, Regenesis Biomedical and Tenneco.  

In addition to new customers, existing customers, such as Ipsen, Wolfspeed, Advanced Micro Devices (AMD), Kenvue  and Solvay are scaling their use of ETQ Reliance to take advantage of new features and functionality, and to leverage key applications such as Document Control, Audit Management, Corrective & Preventive Action (CAPA) and Supplier Management.

New Version of ETQ Reliance NXG

In March 2024, ETQ launched an update to its ETQ Reliance® NXG quality management system (QMS). The new version allows users to create, edit and collaborate in real-time on Microsoft 365 Word documents through the ETQ Reliance interface. This capability is ideal for quality teams that require multiple co-editors during any phase of a document's lifecycle.

The latest release also includes Depositor User Access, which makes it easier to capture data for complaints handling, quality events, safety reporting and other use cases. It offers a secure way to collect form submissions from external "depositors" such as suppliers, customers, shop floor workers and other stakeholders without needing authentication or access to the ETQ Reliance platform. Additionally, in this new version ETQ has extended localization and non-English language support capability on the ETQ Mobile app, which is available on iOS and Android.

About ETQ

ETQ, part of Hexagon, is a leading provider of integrated quality management, health, safety, and environmental solutions for manufacturers. Firms around the world rely on ETQ to ensure optimal quality at scale, reduce costs and improve the velocity of data-driven decisions. Learn more at etq.com.

Hexagon is a global leader in digital reality solutions, combining sensor, software and autonomous technologies. Hexagon (Nasdaq Stockholm: HEXA B) has approximately 24,000 employees in 50 countries and net sales of approximately 5.2bn EUR. Learn more at hexagon.com and follow us @HexagonAB

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SOURCE ETQ

FAQ

How many new customers did ETQ add in the first quarter of 2024?

ETQ added over 20 new customers in Q1 2024.

What are some of the key sectors of the new customers added to ETQ Reliance?

New customers include major manufacturers in the life sciences, automotive, aerospace, chemical, and food and beverage sectors.

What new features were introduced in the latest version of ETQ Reliance NXG?

The new version allows real-time collaboration on Microsoft Word documents and Depositor User Access for easier data capture.