December 4th, 2024

Centric Software Wins Frost & Sullivan 2024 Global Technology Innovation Leadership Award for Artificial Intelligence Innovation

The award graphic proudly displays "Frost & Sullivan Best Practices Award 2024." A banner below highlights Centric Software's achievement: the "Global Fashion and Retail Artificial Intelligence Technology Innovation Leadership Award.

Top consultancy recognizes Centric Software for leadership in innovative products and rapid market adoption of its solutions in the global fashion and retail industry

CAMPBELL, Calif., December 5, 2024– Frost & Sullivan has completed their assessment of the use of artificial intelligence in the fashion and retail industry. The results have led to Centric Software® winning the 2024 Global Technology Innovation Leadership Award. Centric Software has integrated Artificial Intelligence (AI) and other innovations into the product lifecycle management (PLM) flow, extending the coverage of cutting-edge tools from product creation through to replenishment.

Centric Software has received multiple accolades from Frost & Sullivan for its leadership in innovation and growth within the PLM sector, earning awards in 2012, 2016, 2018, 2021, 2022, 2023 and now in 2024.

The Frost & Sullivan Best Practices awards are presented to companies in various regional and global markets for demonstrating outstanding achievement and superior performance in leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analyses, and extensive secondary research to identify best practices in the industry.

Centric Software provides the most innovative enterprise solutions to plan, design, develop, source, buy, make, price, allocate, sell and replenish products such as fashion, luxury, footwear, outdoor, home and related goods like cosmetics & personal care as well as multi-category retail to achieve strategic and operational digital transformation goals.

Centric Software’s laser focus on the fast-moving consumer goods sector for brands, retailers and manufacturers is clearly evident with its slate of complementary solutions to drive performance and profitability spanning retail planning, visual boards, competitive market intelligence, PLM and pricing & inventory optimization.

Research Director for Frost & Sullivan’s industrial group, Karthik Sundaram, says, “The AI capabilities that are embedded across Centric Software’s portfolio, demonstrate the tech-forward, innovative way of thinking that is a hallmark of the company. The different AI-powered solutions work in concert with each other, forming a seamless end-to-end product development flow that spurs efficiency for retailers, brands and manufacturers.” Sundaram continues, “With its single taxonomy, the solutions provide Centric customers with accurate, data-based recommendations to yield high value and ROI. The specifics, like drilling down to product-level design, allocation and pricing data increase sell-through, speed time to market and maximize profit.”

The Global Technology Innovation Leadership Award is given to a company for innovative products that gain rapid adoption in the market. The award recognizes the quality of the solutions and customer value enhancements the products enable.

“We are honored to be presented with the Global Technology Innovation Leadership Award. We are thrilled that Frost & Sullivan, a respected organization, has recognized our hard work and investment in innovations that give our customers a competitive advantage,” says CEO of Centric Software, Chris Groves.

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Centric Software® (www.centricsoftware.com)

From its headquarters in Silicon Valley, Centric Software provides an innovative and AI-enabled product concept-to-replenishment platform for retailers, brands and manufacturers of all sizes. As experts in fashion, luxury, footwear, outdoor, home and related goods like cosmetics & personal care as well as multi-category retail, Centric Software delivers best-of-breed solutions to plan, design, develop, source, buy, make, price, allocate, sell and replenish products.

Centric PLM™, the leading PLM solution for fashion, outdoor, footwear and private label, optimizes product execution from ideation to development, sourcing and manufacture, realizing up to 50% improvement in productivity and a 60% decrease in time to market.
Centric Planning™ is an innovative, cloud-native, AI solution delivering end-to-end planning capabilities to maximize retail and wholesale business performance, including SKU optimization, resulting in an up to 110% increase in margins.
Centric Pricing & Inventory™ leverages AI to drive margins and boost revenues by up to 18% via price and inventory optimization from pre-season to in-season to season completion.
Centric Market Intelligence™ is an AI-driven platform giving insights into consumer trends, competitor offers and pricing to boost competitively and get closer to the consumer, with an up to 12% increase in average initial price point.
Centric Visual Boards™ pivot actionable data in a visual-first orientation to ensure robust, consumer-right assortments and product offers, dramatically decreasing assortment development cycle time.

Centric Software’s market-driven, best-of-breed solutions have the highest user adoption rate, customer satisfaction rate and fastest time to value in the industry. Centric Software has received multiple industry awards and recognition, appearing regularly in world-leading analyst reports and research.