Global IoT technology provider PTC has announced a strategic alliance with Ernst & Young (EY) to encourage IoT innovation and adoption.

The two companies will co-create IoT solutions based on PTC’s ThingWorx industrial IoT platform, which they hope will enable manufacturers to “improve end-to-end product lifecycle management (PLM).”

EY’s membership into PTC’s global ecosystem will afford it access to PTC platforms and solutions, which will augment the global consultancy firm’s experience in supply chain and operations management, PLM, data analysis, cybersecurity, and business transformation.

The alliance is targeting a wide range of industries, and will provide such services as requirements management, product design, production, operations, and service.

This announcement is the evolution of a long-standing collaborative relationship between the two companies, having completed a variety of IoT and PLM solution projects in the past.

In a statement, EY advisory partner Dr Christoph Kilger said: “PTC’s IoT solutions enable end-to-end lifecycle management in an easy and user-friendly way. EY will contribute its knowledge and skills to help companies create smart manufacturing systems that enable them to adopt new business models and optimise current systems and processes.”

PTC’s chief revenue officer for its platform group Catherine Kniker added: “Expanding our global ecosystem to include renowned advisors like EY is one of the most effective ways PTC can bring its technology to a broad range of new customers and industries.

“With its bandwidth and vast services portfolio, EY is an important collaborator as we continue to focus on developing and marketing innovative IoT solutions.”