This Award recognizes the company's contributions in building strong relationships with its customers by providing premium solutions that deliver an exceptional return on investment.
Frost & Sullivan presents Best Practice Awards to companies that have demonstrated outstanding leadership in technology innovation and the strategic development of products and services for regional and global markets. For each of these awards, Frost & Sullivan analysts independently conduct interviews, analyze data, and carry out research in many different fields. For the Global Customer Value Leadership Award, Frost & Sullivan evaluates companies based on several factors that concern the two key aspects of customer impact and business impact.
Muthuraman "Ram" Ramasamy, consulting manager with Frost & Sullivan, delivered the following message when presenting the award: "As the process industry market shifts from request for quote (RFQ) response projects to proactively shaping and creating new market opportunities and demand, Yokogawa is also transforming in order to drive incremental business value to its global customer base. One of the ways that the company has transformed itself is through a series of strategic acquisitions (e.g., Industrial Evolution, Inc.*2; KBC Advanced Technologies plc*3; Soteica Visual Mesa, LLC*4). These strategic acquisitions help Yokogawa drive differentiated customer value by discovering areas for improvement, automating the manufacturing processes (be it production operations in oil and gas or well performance monitoring), and sustaining these benefits while continuously making improvements."
Encouraged by this award, Yokogawa will continue striving to provide its customers highly reliable product and service solutions that make comprehensive use of the expertise that the company has built up over many years, as well as that acquired by KBC and other companies in the Yokogawa Group. As stated in our corporate brand slogan of Co-innovating tomorrow®, we will continuously create value with our customers.
*1 A global market research and consulting firm that mainly conducts commissioned research and consultation and self-initiated market research and technical analyses. Frost & Sullivan is headquartered in California and the company has more than 40 research and sales offices around the world.
*2 A provider of cloud-based services that enable companies to share data from production sites. A subsidiary of Yokogawa Electric Corporation since December 2015
*3 A technology-based provider of industry-leading software and consulting services that help global companies in the oil and gas upstream and downstream sectors boost operational efficiency and improve profitability. A subsidiary of Yokogawa Electric Corporation since April 2016
*4 A leading provider of energy management solutions. Yokogawa Electric Corporation took a 44.3% stake in this company in December 2012, and in October 2016 it became a wholly-owned Yokogawa subsidiary.
About Frost & Sullivan
Frost & Sullivan (frost.com), the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants. For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community.
Yokogawa's global network of 113 companies spans 60 countries. Founded in 1915, the US$3.5 billion company engages in cutting-edge research and innovation. Yokogawa (yokogawa.com) is active in the industrial automation and control (IA), test and measurement, and aviation and other businesses segments. The IA segment plays a vital role in a wide range of industries including oil, chemicals, natural gas, power, iron and steel, pulp and paper, pharmaceuticals, and food. Targeting this segment, Yokogawa helps companies maximize their profits by offering a wide range of highly reliable products and working with the subsidiary KBC Advanced Technologies to provide premium solutions and services.
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