PTC and Schaeffler Announce Strategic Alliance to Accelerate Digital Transformation Roadmap

Rhea-AI Summary

PTC has announced a strategic alliance with Schaeffler to standardize on PTC's solutions for an integrated IT landscape. This partnership enhances Schaeffler's digital transformation initiatives under their Roadmap 2025. The collaboration is built upon a successful 20-year relationship focusing on CAD and PLM solutions, crucial for developing digital twins and 3D models. The alliance aims for enterprise-wide integration, improving responses to market demands, innovation, and compliance with safety regulations.

Positive

• Establishment of a strategic alliance with Schaeffler to standardize on PTC solutions.
• Enhancement of Schaeffler's digital transformation initiatives under Roadmap 2025.
• Leveraging PTC's solutions for improved innovation, efficiency, and agility.

Negative

• None.

BOSTON, Jan. 25, 2022 /PRNewswire/ -- PTC (NASDAQ: PTC) and global automotive and industrial supplier Schaeffler today announced a new alliance that will see Schaeffler standardize on PTC solutions to deploy an integrated, end-to-end IT landscape. Schaeffler will also inform PTC's efforts to further develop and evolve market-specific standard solutions to better meet the needs of automotive and industrial companies.

The new alliance will build on the successful twenty-year relationship based on Schaeffler's use of PTC's CAD and PLM solutions. These tools are essential for the introduction and further development of Schaeffler's initiatives for digital twins and for visualization of 3D models, for example those used for augmented reality projects.

Schaeffler plans to leverage PTC's experience and robust end-to-end solutions to move from a customized engineering IT environment to using standard applications across the enterprise. This will enable prompt responses to rapidly changing requirements in a dynamic, competitive environment.

The alliance will focus on the optimization of the existing environment, as well as its expansion with projects such as Schaeffler's Enterprise Traceability or Model-Based Enterprise and the deeper integration of software development tools. The goal is company-wide integration of the software and system development solutions (Application Lifecycle Management and Model-Based Systems Engineering). This also enables improvement in the mapping of critical systems engineering requirements, such as the fulfillment of varying country-specific safety regulations.

"The alliance with PTC is yet another milestone in our digitization strategy within Roadmap 2025," says Uwe Wagner, Chief Technology Officer at Schaeffler AG. "End-to-end data models, 3D data, and digital twins are already elementary components of the research and development process for Schaeffler today. The increasing complexity requires consistent IT solutions in all development areas for more innovation, agility, and efficiency. To achieve these, it is crucial for Schaeffler to work with strong partners like PTC."

"Through our work with Schaeffler, we aim to advance and further develop market-specific digital transformation solutions," said Jim Heppelmann, President and CEO, PTC. "Both companies will benefit from more robust collaboration."

Schaeffler Group - We pioneer motion

For more than 70 years, the Schaeffler Group, as a leading global automotive and industrial supplier, has been driving forward pioneering inventions and developments in the fields of motion and mobility. With innovative technologies, products, and services in the fields of CO₂-efficient drives, electromobility, Industry 4.0, digitalization, and renewable energies, the company is a reliable partner for making motion and mobility more efficient, intelligent, and sustainable. The technology company produces precision components and systems for powertrains and chassis as well as rolling and plain bearing solutions for a wide range of industrial applications. In 2020, the Group generated sales of around 12.6 billion euros. With approximately 83,900 employees, the Schaeffler Group is one of the world's largest family-owned companies. With more than 1,900 patent applications, Schaeffler ranked second among Germany's most innovative companies in 2020, according to the German Patent and Trademark Office (DPMA).

About PTC (NASDAQ: PTC)

PTC enables global manufacturers to realize double-digit impact with software solutions that enable them to accelerate product and service innovation, improve operational efficiency, and increase workforce productivity. In combination with an extensive partner network, PTC provides customers flexibility in how its technology can be deployed to drive digital transformation – on premises, in the cloud, or via its pure SaaS platform. At PTC, we don't just imagine a better world, we enable it.

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PTC
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Gabrielle Farrell
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SOURCE PTC Inc.

FAQ

What is the recent alliance announced by PTC and Schaeffler?

PTC and Schaeffler announced a strategic alliance to standardize on PTC's solutions for a more integrated IT landscape.

How will the PTC and Schaeffler partnership impact digital transformation?

The alliance will accelerate Schaeffler's digital transformation under their Roadmap 2025 by optimizing their IT environment.

What are the main goals of the PTC and Schaeffler alliance?

The main goals include enhancing innovation, achieving enterprise-wide integration, and improving compliance with safety regulations.

When was the PTC and Schaeffler alliance announced?

The alliance was announced on January 25, 2022.

What is the significance of digital twins in the PTC and Schaeffler partnership?

Digital twins are essential for the development process at Schaeffler, enhancing their capabilities in product development and visualization.