SofTech, Inc. is a multinational computer software company with offices in the United States, Italy, Germany and France with a worldwide annual revenue of US$ $12.1 million. Headquartered in Lowell, Ma. SofTech has provided Product Lifecycle Management, Product Data Management, and CAD CAM solutions. SofTech was founded by Douglas T. Ross in 1969 as one of the earliest softwarePLM solution. WTC was one of the earliest PDMENGINEER. In 1996 WTC’s CMS software solution was renamed to ProductCenter. Softech’s flagship product offering ProductCenter PLM was created to enhance product lifecycle development by extending enterprise collaboration, increasing product quality improvements, and shortening time-to-market cycles. ProductCenter integrates with CAD systems such as Promarkup/collaboration integration to Cimmetry’s AutoVue. ProductCenter was specifically designed to operate on the Microsoft Windows and UNIX operating systems and has also developed a web client version to operate in a standard web browser on almost any platform. Wikipedia.
Agency: European Commission | Branch: FP7 | Program: CP | Phase: ENERGY.2008.8.4.1 | Award Amount: 11.54M | Year: 2010
Central-Eastern European countries have exceptional geothermal resources. These resources are either unexploited due to the lack of technological know-how or their utilisation is carried out in an unsustainable way; geothermal district heating projects lack the energy efficiency component and the used thermal water is not reinjected but instead released to surface waters. Geothermal Communities will demonstrate best available technologies in the use of geothermal energy combined with innovative energy-efficiency measures in three different pilot sites (Hungary, Slovakia and Italy). Furthermore the project will integrate a large number of cities as project partners (from Serbia, Romania, Poland and Italy) that either already have ongoing geothermal systems that needs the adoption of new technologies (e.g. Sacueni, Romania) or they would like to implement new systems from scratch with the help of the project partners (e.g. Subotica, Serbia). In addition to the demonstration component through the parallel implementation of three ambitious development works there is also a strong complementary component of research focusing on making geothermal projects more cost efficient and technologically sound. Results of the project activities will be disseminated via straightforward dissemination actions combined with a training programme organised for municipal-level decision makers. Finally, the Mayors Geothermal Club will be set up and will continue operating even after the EC-funded period as a permanent network of city mayors and municipal-level decision makers who are interested in the sustainable utilisation of geothermal energy.
News Article | February 25, 2017
Leading product development, IT, and manufacturing teams to exchange best practices for IoT, Digital Thread, and digital transformation in Nashville. Andover, MA, February 25, 2017 --( For details, agenda, and registration visit: www.aras.com/ACE2017 Driving the Business of Engineering for Complex Product Development Each year, ACE brings together global industry and technology leaders to exchange best practices on managing complex product development and transforming the science of engineering to the business of engineering. ACE 2017 features business presentations from Huntington Ingalls, Microsoft, Valley Fine Foods, IBM, Akrapovič, Carestream, Sandia, Lord, Pabst, and other industry leaders. In addition, application and demo tracks feature overviews of the latest version of the Aras PLM Platform, including MPP, Tech Docs, and Quality Management, and presentations on PLM implementation strategy. Conference sponsors include IBM, Accenture, Infor, Aessis, Institute of Configuration Management, ITI, Kisters, Minerva, No Magic, Prolim, PSC Group, Razorleaf, SofTech Group, The vdR Group, XPLM Solution, Zionex, and Zuken. About Aras We offer the best Product Lifecycle Management (PLM) software for global businesses with complex products and processes. Resilient PLM platform technology makes Aras more scalable, flexible and upgradable for the world’s largest organizations, and a full set of applications provide complete functionality for the business of engineering. Customers include Airbus, GE, Hitachi, Honda, Kawasaki, Motorola and XEROX. Aras is privately held with global headquarters in Andover, Mass. More at www.aras.com and Twitter @aras_plm Andover, MA, February 25, 2017 --( PR.com )-- Aras®, the next leader in enterprise Product Lifecycle Management (PLM) software, today announced key industry presentations and sessions for ACE 2017, the company’s marquee customer conference taking place on March 21st to 23rd in Nashville, TN. The gathering is the premier event that connects the most innovative product development, IT, and manufacturing teams from Automotive, Aerospace & Defense, High Tech Electronics, and Industrial Manufacturing to shape the future of PLM.For details, agenda, and registration visit: www.aras.com/ACE2017Driving the Business of Engineering for Complex Product DevelopmentEach year, ACE brings together global industry and technology leaders to exchange best practices on managing complex product development and transforming the science of engineering to the business of engineering.ACE 2017 features business presentations from Huntington Ingalls, Microsoft, Valley Fine Foods, IBM, Akrapovič, Carestream, Sandia, Lord, Pabst, and other industry leaders. In addition, application and demo tracks feature overviews of the latest version of the Aras PLM Platform, including MPP, Tech Docs, and Quality Management, and presentations on PLM implementation strategy.Conference sponsors include IBM, Accenture, Infor, Aessis, Institute of Configuration Management, ITI, Kisters, Minerva, No Magic, Prolim, PSC Group, Razorleaf, SofTech Group, The vdR Group, XPLM Solution, Zionex, and Zuken.About ArasWe offer the best Product Lifecycle Management (PLM) software for global businesses with complex products and processes. Resilient PLM platform technology makes Aras more scalable, flexible and upgradable for the world’s largest organizations, and a full set of applications provide complete functionality for the business of engineering. Customers include Airbus, GE, Hitachi, Honda, Kawasaki, Motorola and XEROX. Aras is privately held with global headquarters in Andover, Mass. More at www.aras.com and Twitter @aras_plm Click here to view the list of recent Press Releases from Aras Corporation
SofTech | Date: 2016-11-16
SofTech | Date: 2016-11-16
Computer software platforms for Recruitement, HR, Payroll, Billing and Invoicing, Time Management, Performance Evaluation, Vendor Management, and providing Management up to date information about the company overview.
SofTech | Date: 2016-11-16
Computer application software for mobile phones and web, namely, software for business owners to create their own eCommerce page in 5 steps to be used in web, Point of Sale and handheld devices.
SofTech | Date: 2012-02-01
The invention generally relates to consumer product lifecycle maintenance and systems and methods therefor. The invention generally involves receiving and storing a consumer registration of a tangible asset, matching a provider to the consumer based on a later-arising maintenance need associated with the asset, and relaying a communication from the provider to the consumer.
SofTech | Date: 2013-05-23
The invention generally relates to systems and methods for coordinating participation in, and payment for, events. In particular, the invention allows a person to initiate a group event without exposing themselves to a full cost of the event, even where full payment is traditionally collected through a single bill or prior to the event. In some aspects, the invention provides a method of organizing an event that includes broadcasting information about an event to potential participants, receiving a commitment to pay from participants, and charging each participant their share while paying a full event cost, so that no one person must pay the full cost.
News Article | December 13, 2016
MOUNT LAUREL, N.J., Dec. 13, 2016 /PRNewswire/ -- Agilence, Inc., the market leading insight service provider of cloud based data analytics for store operations and loss prevention, today announced that Softech Intl. has named Agilence as the winner of the "Best Retail Data Analytics...
News Article | April 14, 2015
LOWELL, Mass.--(BUSINESS WIRE)--SofTech, Inc. (OTCQB: SOFT), a proven provider of Product Lifecycle Management (“PLM”) solutions today announced its third quarter fiscal year 2015 operating results. Revenue for the three months ended February 28, 2015 was approximately $.925 million as compared to approximately $1.342 million for the same period in the prior fiscal year. The net loss for the current quarter was approximately ($356,000) or ($.40) per share compared to approximately $(339,000) or $(.39) per share for the same period in the prior fiscal year. EBITDA for current quarter was approximately $(171,000) as compared to approximately $(259,000) for the same period in fiscal year 2014. Revenue for the nine months ended February 28, 2015 was approximately $2.8 million as compared to approximately $4.1 million for the same period in the prior fiscal year. The net loss for the first nine months of the current fiscal year was approximately ($1,307,000) or ($1.47) per share compared to a net loss of approximately $(91,000) or $(.10) per share for the same period in the prior fiscal year. The prior year operating results included a one-time gain from the sale of the CADRA product line of approximately $649,000. EBITDA for the first nine months of the current fiscal year was $(686,000) as compared to approximately $3,580,000 for the same period in fiscal 2014. The EBITDA generated by the sale of the CADRA product line totaled approximately $3,954,000 (gain of $649,000 which included non-cash expenses of $3,305,000) in the nine months ended February 28, 2014. The sale of the CADRA product line was completed on October 18, 2013. Because the Company continued to market and support the technology as a reseller in Europe, the sale did not qualify for presentation as discontinued operations. The decline in revenue and profitability for the three and nine month periods ended February 28, 2015 compared to the same periods in the prior fiscal year is almost entirely attributable to the sale of the CADRA product line as depicted in the tables below. The following summarizes total revenue by product line for each of the periods (in thousands, except %): The ProductCenter revenue increased 20.5% in the current quarter as compared to the same period in fiscal 2014. For the nine months ended February 28, 2015, ProductCenter’s revenue increased 8.6% as compared to the same period last fiscal year. Two long-time customers of this technology expanded their usage in fiscal 2015 and were responsible for the majority of the revenue increase. “ProductCenter is showing significant strength in the marketplace in fiscal 2015 as a robust, affordable PLM solution,” said Joe Mullaney, SofTech’s CEO. “ProductCenter’s license revenue year-to-date increased approximately 176% as compared to the same period in the prior year and maintenance renewal rates have improved significantly as compared to the last several fiscal years. Consulting revenue has lagged behind due to a delay in several large projects, however, these projects have begun to ramp up in the fourth quarter,” he added. “The sale of the CADRA product line in 2014 provided the capital and the flexibility for us to make a significant current year investment in the development of a new PLM-based product aimed at the consumer market. The product was created using our employees’ deep PLM expertise and it is currently in beta testing; we expect to be ready for commercial launch this coming summer. We believe this product has the potential to get SofTech on a revenue growth path, an essential element of shareholder value enhancement,” Mullaney concluded. FINANCIAL STATEMENTS The Statements of Operations for the three and nine month periods ended February 28, 2015 compared to the same periods in the prior fiscal year are presented below. A reconciliation of Net loss to EBITDA, a non-GAAP financial measure, is also provided. During the fourth quarter of fiscal 2014, we changed our accounting policy with regard to certain deferred payments we expect to receive from the sale of the CADRA product line. The effects of this change have been made retrospectively to the prior year three and nine month periods ended February 28, 2014 in accordance with ASC 250, Accounting Changes and Error Corrections. The Balance Sheet as of February 28, 2015 compared to the audited fiscal year-end Balance Sheet as of May 31, 2014 is presented below. SofTech, Inc. (OTCQB: SOFT) is a proven provider of product lifecycle management (PLM) solutions, including its ProductCenter® PLM solution. SofTech’s solutions accelerate productivity and profitability by fostering innovation, extended enterprise collaboration, product quality improvements, and compressed time-to-market cycles. SofTech excels in its sensible approach to delivering enterprise PLM solutions, with comprehensive out-of-the-box capabilities, to meet the needs of manufacturers of all sizes quickly and cost-effectively. Over 100,000 users benefit from SofTech software solutions and services, including General Electric Company, Goodrich, Honeywell, AgustaWestland and the U.S. Army. Headquartered in Lowell, Massachusetts, SofTech (www.softech.com) has locations and distribution partners in North America, Europe, and Asia. SofTech and ProductCenter are registered trademarks of SofTech, Inc. All other products or company references are the property of their respective holders. This press release contains forward-looking statements relating to, among other matters, our outlook for fiscal year 2015 and beyond. In some cases, you can identify forward-looking statements by terms such as “may,” “will,” “should,” “could,” “would,” “expects,” “plans,” “anticipates,” “believes,” “estimates,” “projects,” “predicts,” “potential” and similar expressions intended to identify forward-looking statements. These forward-looking statements are based on estimates, projections, beliefs, and assumptions and are not guarantees of future events or results. Actual future events and results could differ materially from the events and results indicated in these statements as a result of many factors, including, among others, (1) generate sufficient cash flow from our operations or other sources to fund our working capital needs and growth initiatives; (2) maintain good relationships with our lenders; (3) comply with the covenant requirements of the loan agreement; (4) successfully introduce and attain market acceptance of any new products and/or enhancements of existing products; (5) attract and retain qualified personnel; (6) prevent obsolescence of our technologies; (7) maintain agreements with our critical software vendors; (8) secure renewals of existing software maintenance contracts, as well as contracts with new maintenance customers; and (9) secure new business, both from existing and new customers. These and other additional factors that may cause actual future events and results to differ materially from the events and results indicated in the forward-looking statements above are set forth more fully under “Risk Factors” in the Company’s Annual Report on Form 10-K for the fiscal year ended May 31, 2014. The Company undertakes no obligation to update these forward-looking statements to reflect actual results, changes in assumptions or changes in other factors that may affect such forward-looking statements. Use of Non-GAAP Financial Measures In addition to financial measures prepared in accordance with generally accepted accounting principles (GAAP), this press release also contains non-GAAP financial measures. Specifically, the Company has presented EBITDA, which is defined as Net income (loss) plus interest expense, tax expense, non-cash expenses such as depreciation, amortization and the goodwill write-off related to the sale of our CADRA product line, non-cash loss (gain) and stock based compensation expense. The Company believes that the inclusion of EBITDA helps investors gain a meaningful understanding of the Company’s core operating results and enhances comparing such performance with prior periods, without the effect of non-operating expenses and non-cash expenditures. Management uses EBITDA, in addition to GAAP financial measures, as the basis for measuring our core operating performance and comparing such performance to that of prior periods. EBITDA is not meant to be considered superior to or a substitute for results of operations prepared in accordance with GAAP. Reconciliations of EBITDA to the most directly comparable GAAP financial measures are set forth in the text of, and the accompanying tables to, this press release.