For Immediate Release
ETQ Reaches Significant Milestones in Third-Quarter 2024 that Reinforce its Leadership in Advanced Quality Management Systems for Manufacturers
Key Milestones Include Appointment of Chief Product Officer, Quality Survey Results, Launch of Inspection Management Application
BURLINGTON, Mass., Nov. 14, 2024 — ETQ, part of Hexagon, closed out the third quarter of 2024 by achieving key milestones that highlight its leadership in delivering advanced quality management via its ETQ Reliance® quality management system (QMS).
Milestones include the appointment of Prashant Darisi as chief product officer; the execution of an insightful survey that researched the state of quality in manufacturing today; the launch of an advanced Inspection Management application; and the addition of marquee customers to its international roster of global organizations that are digitizing their quality value chain and using quality insights as a key strategic business advantage.
“The third quarter of 2024 was marked by our ability to not only put together the people and products that enable a new level of quality leadership, but also to understand the sentiments, challenges and needs of the sector through our first annual ETQ Pulse of Quality in Manufacturing survey,” said Vick Vaishnavi, CEO, ETQ. “Through our relentless focus on quality, we remain committed to helping manufacturers automate and optimize their quality processes and empower them with the technologies and insights to make informed decisions, increase productivity and reduce the cost of poor quality.”
Appointment of Chief Product Officer
In August 2024, ETQ appointed Prashant Darisi as chief product officer. In this role, he is responsible for managing the product roadmap for ETQ Reliance and driving the expansion of the solution into new manufacturing segments that maximize the impact of new technologies such as artificial intelligence (AI) and predictive quality analytics. He also is leading product strategy and execution that extends ETQ’s lead in integrating its QMS with innovative connected worker and other manufacturing support capabilities.
Launch of Inspection Management Solution
In the third quarter, ETQ launched Inspection Management, which expands the capabilities of ETQ Reliance to create a digital connection from the manufacturing floor to the QMS and integrate shop floor data with the manufacturing ecosystem. The new Inspection management application supports a variety of inspection types, including first article, in-process, final, regulatory and safety amongst many others. It digitizes the inspection process, especially for discrete manufacturers, enabling faster and more efficient quality inspections. Inspection Management helps identify issues sooner and resolve them faster by automating links to quality events, nonconformance reporting and corrective actions. It also provides a central repository for shop floor data for analysis and continuous improvement throughout the manufacturing process not only in a single factory, but around the globe. With Inspection Management, quality professionals and operations managers can eliminate paperwork, consistently and prescriptively conduct quality inspections and maintain revision control of inspection plans.
Execution of ETQ Pulse of Quality in Manufacturing Survey
In 2024, ETQ embarked on a major initiative to better understand the sentiments, challenges, opportunities and experiences of manufacturers around the world. In July 2024 it shared results of its groundbreaking survey, the ETQ Pulse of Quality in Manufacturing 2024. The survey found that the vast majority of respondents (73%) have had a product recall in the past five years, with financial costs reaching $99.9M in the U.S. alone for each recall. Respondents also cited additional negative consequences of product recalls, including damage to brand reputation, delayed product introductions, plant shutdowns and personnel lay-offs. Results from respondents also shed insights on issues such as their plans for AI adoption (growing rapidly), safety in the plant (a critical concern) and empowering the connected worker (a growing concern given the loss of experience and continuing manufacturing worker shortage).
Growing Customer Base
In the third quarter of 2024, quality-driven manufacturers in heavy industry, electronics, life sciences, aerospace, automotive, food & beverage and other key markets around the world chose ETQ Reliance as their QMS of choice. A sampling of new customers from North America, EMEA, and Japan from the third quarter include AirLife, EPS Corporation, Gulfcoast Regional Blood Center, PGT/MITER Brands, Schneider Electric, Tecnimont and Viega. A selection of customers who chose to expand the scope of their ETQ Reliance implementation this quarter included Aristocrat Technologies, Drive DiVilbiss, Farsound, Hitachi Energy, Keurig Dr. Pepper, Nutrien and others.
“It is gratifying to welcome these new customers into the ETQ family of quality champions,” Vaishnavi said. “They represent a broad spectrum of firms at various stages of the quality journey across a range of industries, geographies and company sizes who have all realized that delivering optimal quality provides a clear business advantage for them.”
Expanding Thought Leadership, Participation in Industry Events
During the third quarter of 2024 ETQ joined its manufacturing and quality peers to share its expertise and thought leadership. The company hosted customers in the EMEA region for an ETQ EU Summit to hear about the latest developments and company direction, network and learn from their peers to bolster their own knowledge and ensure their organizations are optimizing ETQ Reliance. In September 2024, it showcased the new Inspection Management solution, as part of demonstrations of ETQ Reliance in conjunction with Hexagon at the International Manufacturing Technology Show (IMTS) in Chicago.
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.
Media Contacts:
Chris Nahil Linda Pendergast-Savage
ETQ lpendergastsavage@comcast.net
cnahil@etq.com 508-224-7905
617-529-6126
