CONCORD, Mass., April 15, 2014 (GLOBE NEWSWIRE) -- aPriori, Inc., today announced that its enterprise product cost management software platform has been selected as a finalist in the Big Data and Analytics Innovation category for the MITX What's Next Awards. Other finalists in the category include Akamai Technologies, Involution Studios, Prelert, Inc. and Wordstream.
Since 1996 the MITX Award shows have grown to become the largest and most prestigious awards competitions in the country for marketing innovations, celebrating the best creative and technological accomplishments emerging from New England. This year MITX combined its annual Innovation and Interactive Awards into a single show recognizing Boston's entire digital ecosystem.
"The finalists that emerged from an unprecedented number of submissions received for this year's MITX What's Next Awards demonstrate the creativity and innovation of our region's rich digital ecosystem," says MITX Board Member and Communispace Chief Operating Officer Howard Kogan, who serves as Chairman of the Awards Advisory Committee. "From startups to large corporations and everything in between, the individuals behind this work continue to raise the bar for the entire digital community."
aPriori's enterprise product cost management solution provides engineering, design, value engineering and sourcing professionals in discrete manufacturing organizations with accurate, detailed product cost information in real-time throughout the entire product development and production process. aPriori features multiple methods to generate fast, accurate cost estimates. Individuals that are not costing experts can leverage a 3-D computer-aided design file to automate the generation of cost inputs and take advantage of intelligent, automated cost models that determine feasible manufacturing methods and product costs. Advanced cost or manufacturing engineers can leverage aPriori's User Guided Costing process modules to generate detailed cost estimates when no CAD model is available. The software also enables users to leverage product cost data hosted in other enterprise applications to communicate product cost information between all functional organizations involved in product definition and delivery. This includes the import of complex engineering Bills of Materials (BOMs) from ERP, PLM or other enterprise applications.
As a result of using aPriori, manufacturers can identify quantifiable savings in material, tooling, labor and overhead while evaluating alternative designs, processes and sources. This drives significant costs out of their products prior to production, reducing Cost of Goods Sold (COGS) by whole percentage points. "We're honored to be recognized by MITX along with the other finalists in the Big Data and Analytics Innovations category," said Stephanie Feraday, president and CEO at aPriori. "It validates the outstanding work of our entire team and the significant value we deliver for our customers."
aPriori will be recognized with the other finalists at a gala awards ceremony traditionally attended by over 1,000 of the region's top interactive marketing and technology professionals. Winners will be announced at a ceremony at the Westin Waterfront Hotel on May 29th. Tickets can be purchased at www.mitxawards.org/The-Ceremony.aspx.
Established in 1996, MITX -- the Massachusetts Innovation & Technology Exchange -- is the leading industry organization focused on the web and mobile, bringing together the digital marketing, media and technology community to engage in what's next and how it will impact the marketing and business worlds. Connecting more than 7,500 professionals in New England, MITX is a dynamic community of thought leaders and collaborators in search of insight, education and opportunity. Creator of FutureM, MITX is headquartered in Boston, MA. For more information, visit http://www.mitx.org/.
aPriori software and services generate hard-dollar product cost savings for discrete manufacturing and product innovation companies. Using aPriori's real-time product cost assessments, employees in engineering, sourcing and manufacturing make more-informed decisions that drive costs out of products pre- and post-production. With aPriori, manufacturers launch products at cost targets, maximize savings in re-work projects and avoid overpaying for sourced parts. To learn more about aPriori and its product cost management solutions and services, visit www.apriori.com or call 1.978.371.2006. To see an overview demonstration of aPriori, click here.
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Source: aPrioriTechnologies, Inc.