PTC’s upgrade program for its FlexPLM platform is helping retailers and brands see higher conversion rates and gross margins as well as lower sample costs, the company said adding that over a dozen of its enterprise customers have rolled out the new version over the past year.

The product lifecycle management solution provider said it’s created “a new, cost-effective approach” that provides retailers and brands with a PLM platform “to drive business growth and profitability.”

By the numbers, PTC said the upgrade is accelerating time to market “by up to 45 percent” while margins improved by up to 10 percent and sales conversions by up to 30 percent. The company also said deployment of the upgrade has help retailers and brands cut sample costs by up to 35 percent.

The rollout was developed with ITC and involves an “agile upgrade approach” that reduced project time and costs. “In a matter of weeks, an enterprise-grade implementation of a previous generation of FlexPLM can now be converted to FlexPLM Version 11, including a move from on-premise hosting to the cloud,” PTC said in a statement. “This timeline has been road-tested and verified more than a dozen times in the last year by PTC and ITC teams working with large, Tier 1 retailers and brands with multicategory products, whose complex business processes and supply chains are spread across multiple different continents.”

Bhavin Parikh, senior application manager at QVC, praised the program, and said he was “impressed by the speed we were able to move to the latest generation of FlexPLM, as well as the low cost of upgrading from one milestone version to another.”

Bill Brewster, senior vice president and general manager of PTC’s Retail Business Unit, said over the past year, the company has “helped loyal customers, many of them with thousands of PLM users in-house and throughout the extended supply chain, to keep everything they love about working in FlexPLM, and also take confident, cost-effective, next steps on their digital transformation journey.”

PTC’s Retail Innovation Platform offers companies the ability to use technologies such as open standards 3D, AI and augmented reality in different ways. “Key to PTC’s new upgrade program is the ThingWorx Retail Connector, which allows an endless variety of business systems and solutions to be quickly integrated to FlexPLM, eliminating expensive customization work,” PTC said.