ETQ Accelerates Growth, Meets Rising Demand for Automated Quality Management in Fourth Quarter 2023

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Feb 05, 2024, 09:20 ET

New Customers, Strategic Partnerships, Product Enhancements Set the Stage for Continued Success in 2024

BURLINGTON, Mass., Feb. 5, 2024 /PRNewswire/ -- ETQ, part of Hexagon, today announced that it achieved significant growth in the fourth quarter of 2023, helping a growing base of customers meet their enterprise-wide quality goals and boost efficiency, safety and productivity through the use of ETQ Reliance® quality management system (QMS). The company also announced strategic partnerships that expand the impact of optimal quality across the enterprise, as well as participation in industry events to help shape the future of data-driven quality.

"Throughout 2023, a year that saw a record number of product recalls, manufacturers were focused on producing higher-quality products, reducing the cost of poor product quality and ensuring they could meet evolving compliance and quality standards at scale," said Vick Vaishnavi, CEO, ETQ. "We are honored to partner with leading manufacturers across a wide range of industries to help them find ways to leverage optimal product quality as a business advantage and achieve these organizational goals by driving excellence through quality."

Expanded Customer Base

In the fourth quarter of 2023 customers around the world chose ETQ Reliance® to automate their quality processes, improve operational efficiencies and significantly improve their quality outcomes. New customers selected ETQ to solve key challenges in their quality environments, from reducing the cost of poor quality and ensuring compliance at scale to speeding time to market and gaining deeper control over supplier quality. New customers came to ETQ from key industries such as food and beverage, manufacturing, electronics, pharmaceutical, medical devices and energy. Select new customers include: Ascential Technologies, Horizon Organic Dairy, Hawkins, Inc., Natural Fiber Welding, Helvoil, Kinematics and Wheeler Fleet Solutions.

ETQ also expanded the scope of ETQ Reliance within its existing customer base, enabling them to benefit from new features and capabilities that give them greater visibility enterprise-wide, greater decision velocity and reduced risk and costs associated with poor quality. A selection of these companies includes Lixil Group, Terumo Medical, Rheem, GE Aviation, Kalsec, Inspire Medical Systems and Cosmo Pharmaceuticals.

Strategic Industry Partnerships

Augmentir — During the quarter, ETQ strengthened its connected worker strategy by partnering with Augmentir, a leading connected worker solution provider. By integrating ETQ Reliance quality management system (QMS) with Augmentir's connected worker platform, the two companies can now provide customers with a holistic connected worker quality solution that automates workflows between frontline workers on the factory floor and quality management teams.
Infor — ETQ also formed a strategic partnership with Infor, a global leader in business cloud software, to strengthen its ability to manage compliance, reduce risk and achieve operational excellence in the food and beverage, life sciences, chemicals, fashion and distribution enterprises.

Industry Recognition

In late 2023, ETQ was named a Top Software & Tech award recipient by Food Logistics and Supply & Demand Chain Executive, two of the leading publications covering the global supply chain. The annual award honors software and technology providers that ensure a safe, efficient and reliable supply chain.

On National Manufacturing Day in October 2023 and World Quality Day in November, ETQ honored quality champions - from the warehouse worker to engineers, designers, project managers and transportation providers – who are committed to creating quality products and economic drivers in the U.S. and around the world.

ETQ also expanded its exposure and recognition through its participation in the 2023 Quality Show. At the event, it showcased ETQ Reliance® NXG, its industry leading cloud-native solution that helps companies build and maintain a safe, cost-effective, high-quality global supply chain and ensure resiliency by automating manufacturing and quality processes, ensuring regulatory compliance, empowering frontline workers, and protecting the safety of consumers.

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.

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SOURCE ETQ