Molex to Save $5 Million in Product Development Costs Using CoCreate OneSpace Collaboration Software

FORT COLLINS, Colo., and SINDELFINGEN, Germany - August 20, 2002 - Molex projects savings of $5 million annually by using CoCreate's OneSpace Collaboration software during the next year.

OneSpace Collaboration enables online collaborative product development to help companies reduce costs, shorten time to market and improve communication. Users meet online in a "virtual conference room" to share ideas, discuss alternatives and track decisions in real time.

"Based on the Return-on-Investment we've seen in our six week pilot evaluation using CoCreate's OneSpace Success methodology, we estimate that the enterprise deployment of OneSpace will pay for itself in just seven months," says John Koester, technical systems manager, Molex corporate development group. "That doesn't include benefits such as faster time-to-market and product quality improvements, which will be substantial."

Koester says his team plans to train several hundred engineers on OneSpace Collaboration in the coming year. "It's an easy program to learn and deploy," he says. The $5 million cost savings projection is based conservatively on a small percentage of Molex engineers using OneSpace collaboration; actual savings could be higher.

Molex designs and manufactures electronic, electrical and fiber optic interconnection products and systems for customers worldwide. It operates 25 product development groups in 20 locations in 12 countries. With over 445 products introduced in the last year and a large geographic spread, online collaboration offers enormous benefits. "Our studies have shown that a single OneSpace Collaboration meeting can save over $2000 per design review in travel time and other costs," says Koester. A typical session lasts 1-2 hours.

Before implementing OneSpace Collaboration, users would travel for on-site meetings, schedule conference calls or not include people who could contribute to the success of the design. "With OneSpace Collaboration, you get the benefits of people actually being together in the same space. Team members catch mistakes, improve designs and move the project along much faster," he says. "Catching issues early and having a tool that gives our engineers the flexibility to make the required changes to a 3D design is an enormous benefit."

"We believe that our collaboration software provides unsurpassed time to value for cost-conscious, fast-moving companies," stated William M. Gascoigne, CEO of CoCreate Software. "Molex joins a long list of very happy customers who are reporting enormous success using products from CoCreate."

About Molex

Molex is the world's second-largest manufacturer of electronic, electrical and fiber optic interconnection products and systems. It also produces switches and application tooling. As a one-source supplier, Molex assures worldwide coordination of its resources to meet customers' needs globally, regionally and locally. In product development centers, manufacturing facilities and sales offices on six continents, the more than 12,000 people of Molex are 100 percent customer driven.

About CoCreate

Since its inception in 1984, a singular vision - "Innovation through Shared Minds*" - has propelled CoCreate to its position as a leading provider of collaborative product design solutions that allow companies worldwide to design better products faster.

CoCreate's OneSpace Solution Suite is a component of an organization's Collaborative Product Commerce (CPC) and PLM (Product Lifecycle Management) infrastructure that complements existing data and process technologies. The OneSpace Solution Suite provides a powerful, collaborative product design environment that fosters innovation and communication across the extended development team. This environment empowers people with various interests and talents to join together to explore ideas, to make more rapid and better decisions, leading to superior products and faster time to market. CoCreate can be found in more than 30 countries and on the World Wide Web at

 http://www.cocreate.com 

 

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