Click here to close now.




















Welcome!

Microsoft Cloud Authors: Eric Aarrestad, Greg O'Connor, Liz McMillan, Aleksei Gavrilenko, Elizabeth White

News Feed Item

Agilysys, Inc. Reports Third Quarter Revenue Growth of 30% and Adjusted Earnings of $0.08 Per Diluted Share and GAAP Earnings of $0.02 Per Diluted Share

Agilysys, Inc. (Nasdaq: AGYS), a leading developer and marketer of proprietary enterprise software, services and solutions to the hospitality and retail industries, today reported operating results for its fiscal 2013 third quarter ended December 31, 2012, and raised its revenue and adjusted operating income forecast for the full year.

Summary of Fiscal 2013 Third Quarter Financial Results

  • Total net revenue increased $15.6 million, or 30%, to $67.2 million from $51.6 million in the prior-year period. Revenues for the Company’s Hospitality segment increased $6.5 million, or 30%, year over year, while revenues for the Company’s Retail segment rose $9.1 million, or 31%, from the prior-year period.
  • Recurring revenues (which are comprised of support, maintenance and subscription services) for the quarter were $19.4 million, an increase of 6% over the same period in fiscal 2012.
  • Gross margin was 35% in the fiscal 2013 third quarter compared to gross margin of 39% in the prior-year period. The decrease in the margin reflects a change in the mix of the products sold in the period.
  • Adjusted operating income (excluding stock-based compensation, amortization of intangibles and other one-time items) increased $3.3 million year over year to $2.1 million from an adjusted operating loss of $1.2 million in the year-ago period (see reconciliation below).
  • Adjusted net income (non-GAAP) from continuing operations grew to $1.7 million, or $0.08 per diluted share, compared with an adjusted net loss of $1.4 million, or ($0.06) per share, last year (see reconciliation below).
  • Net income for the period was $0.5 million, or $0.02 per diluted share, for the fiscal 2013 third quarter compared to a net loss of $6.5 million, or ($0.29), in the prior-year period, inclusive of a loss of ($0.03) from discontinued operations in the prior-year period.

James Dennedy, President and CEO of Agilysys, commented, “Our operating results for the third quarter and first nine months of fiscal 2013 reflect our expectations from the strategic initiatives implemented in the middle of fiscal 2012. Our personnel have eagerly embraced our strategy and as a result, we are delivering increased quality to our customers and value to our shareholders. Our success to date with the Company’s refocused business strategy is reflected in the growth of our Hospitality business, which continues to outpace growth in the overall industry, and in our ability to optimize the strong cash flow generated by our Retail business.

“Notwithstanding the progress made to date, we are still in the early stages of executing the refocused business strategy. We believe our emphasis on pursuing higher quality, recurring revenue opportunities and serving markets that place a premium on using technology to deliver a higher quality customer experience will produce above-market returns for our shareholders. Our approach to implementing this strategy will provide a more innovative place for our people to develop their careers and add more value to the solutions our customers receive from Agilysys. In future periods, we believe our operating leverage will continue to improve; recurring revenue, as a percentage of our overall business, will increase; product development investments will provide new innovation enabling our customers to grow their business; and our team will further improve upon the industry-leading customer service for which Agilysys is known.”

Summary of Fiscal 2013 First Nine Months Financial Results

  • Total net revenue for the period increased $16.2 million, or 10%, to $173.1 million, compared with $156.9 million in the comparable prior-year period. The Hospitality segment grew 18%, or $11.3 million, and the Retail segment revenue increased 5%, or approximately $5.0 million.
  • Recurring revenues (which are comprised of support, maintenance and subscription services) for the period were $57.3 million, an increase of 7% over the first nine months of fiscal 2012.
  • Gross margin of 38% was relatively flat compared to the prior-year period.
  • Adjusted operating income (excluding stock-based compensation, amortization of intangibles and other one-time items) for the first nine months of fiscal 2013 increased year over year by $8.7 million to $4.3 million from an adjusted operating loss of $4.4 million in the comparable year-ago period (see reconciliation below).
  • Adjusted net income (non-GAAP) from continuing operations grew to $3.8 million or $0.17 per diluted share, compared with the adjusted net loss of $5.8 million, or ($0.26) per share, in the first nine months of fiscal 2012 (see reconciliation below).
  • GAAP net loss was $1.6 million, or ($0.07) per share, in the first nine months of fiscal 2013 compared with a GAAP net loss of $5.8 million, or ($0.26) per share, in the year-ago period. GAAP net loss for the first nine months of fiscal 2012 includes net income of $10.4 million, or $0.46 per share, related to discontinued operations.

Robb Ellis, Chief Operating Officer and Chief Financial Officer, added, “We are pleased with the solid results we have generated and believe we have attractive opportunities to continue improving the business over the long term. Our results continue to reflect a good balance of current quarter performance and the prudent long-term investments we are making in the business. With nearly $80 million in cash and no debt, Agilysys has a solid balance sheet and the financial flexibility to support our goal of generating consistent profitable revenue growth while investing in our business to address new growth opportunities. Based on the success of the quarter and visibility into the year, we are increasing our fiscal 2013 guidance which reflects strong revenue growth and a return to profitable operations relative to fiscal 2012.”

Raises Fiscal 2013 Outlook

The table below compares the Company’s updated guidance to its prior guidance for fiscal 2013 and to the reported results for fiscal 2012:

            (In millions, except per-share)   Fiscal 2013   Fiscal 2013   Fiscal 2012
Updated Previous As Reported
 
Revenue $230 - $232 $208 - $211 $208.9
 
Adjusted operating income (loss) $6.0 - $6.5 $3.5 - $4.5 ($7.9)
 
Adjusted earnings (loss) per share (non-GAAP) $0.24 - $0.26 $0.16 - $0.21 ($0.39)
 

The Company’s updated guidance reflects year over year revenue growth of approximately 10% resulting in adjusted operating income improving by approximately $14 million and adjusted earnings per share improving by $0.63-$0.65.

2013 Third Quarter Conference Call and Webcast

Agilysys is hosting a conference call and webcast today, January 31, 2013, beginning at 4:30 P.M. ET. Both the call and the webcast are open to the general public. The conference call number is 913-312-1495 (domestic or international) and the passcode is 5825485. A slide deck, which will be the basis for the review, will accompany the conference call and can be accessed at http://agilysys.com/home/InvestorRelations/EventPresentation.htm. Please call five minutes prior to the presentation to ensure that you are connected.

Interested parties may also access the conference call live on the Internet at http://agilysys.com/home/InvestorRelations/EventPresentation.htm. Approximately two hours after the call has concluded, an archived version of the webcast will be available for replay at the same location at http://agilysys.com/home/InvestorRelations/EventPresentation.htm.

Forward-Looking Language

This press release and other publicly available documents, including the documents incorporated herein and therein by reference, contain, and our officers and representatives may from time to time make, "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as: "anticipate," "intend," "plan," "goal," "seek," "believe," "project," "estimate," "expect," "strategy," "future," "likely," "may," "should," "will" and similar references to future periods. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. These statements are based on management’s current expectations, intentions or beliefs and are subject to a number of factors, assumptions and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Factors that could cause or contribute to such differences or that might otherwise impact the business include the risk factors set forth in Item 1A of the company’s Annual Report for the fiscal year ended March 31, 2012. Copies are available from the SEC or the Agilysys website. We undertake no obligation to update any such factor or to publicly announce the results of any revisions to any forward-looking statements contained herein whether as a result of new information, future events or otherwise.

Use of Non-GAAP Financial Information

To supplement the unaudited condensed consolidated financial statements presented in accordance with U.S. GAAP in this press release, certain non-GAAP financial measures as defined by the SEC rules are used. These non-GAAP financial measures include adjusted operating income (loss) from continuing operations, adjusted net income (loss), adjusted net income (loss) per share and adjusted cash flow from operations. Management believes that such information can enhance investors' understanding of the company's ongoing operations. See the accompanying tables below for reconciliations of adjusted operating income (loss) from continuing operations and adjusted net income (loss), and adjusted cash flow from operations to the comparable GAAP measures.

Guidance

Guidance figures are based on the company’s current estimates and are subject to change by factors outside the company’s control. While this guidance is provided to give investors insight into expectations for the period, actual results may vary.

About Agilysys

Agilysys is a leading developer and marketer of proprietary enterprise software, services and solutions to the hospitality and retail industries. The Company specializes in market-leading point-of-sale, property management, inventory and procurement, and mobile and wireless solutions that are designed to streamline operations, improve efficiency and enhance the consumer’s experience. Agilysys serves casinos, resorts, hotels, foodservice venues, stadiums, cruise lines, grocery stores, convenience stores, general and specialty retail businesses and partners. Agilysys operates extensively throughout North America, with additional sales and support offices in the United Kingdom, Singapore and Hong Kong. For more information, visit www.agilysys.com.

AGILYSYS, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(UNAUDITED)

 

(In thousands, except per share data)

  Three Months Ended   Nine Months Ended
December 31, December 31,
2012  

2011

2012   2011
 
Net revenue:
Products $ 40,210 $ 25,725 $ 89,262 $ 80,387
Support, maintenance and subscription services 19,405 18,275 57,347 53,704
Professional services   7,596     7,582     26,494     22,767  
Total net revenue 67,211 51,582 173,103 156,858
Cost of goods sold:
Products 32,225 20,128 70,108 63,733
Support, maintenance and subscription services 6,911 6,223 20,779 19,270
Professional services   4,626     5,298     16,308     14,835  
Total cost of goods sold   43,762     31,649     107,195     97,838  
Gross profit 23,449 19,933 65,908 59,020
Operating expenses:
Product development 8,612 7,722 24,241 23,378
Sales and marketing 5,425 5,408 16,039 16,868
General and administrative 7,167 7,319 20,596 23,466
Depreciation of fixed assets 633 1,063 2,024 3,177
Amortization of intangibles 832 914 2,554 2,782
Asset impairment and related charges - - 208 -
Restructuring, severance and other charges   (31 )   4,556     1,524     10,590  
Operating income (loss) 811 (7,049 ) (1,278 ) (21,241 )
Other (income) expenses:
Interest income - (4 ) (8 ) (54 )
Interest expense 56 60 225 937
Other expenses, net   220     22     202     293  
Income (loss) before income taxes 535 (7,127 ) (1,697 ) (22,417 )
Income tax expense (benefit)   19     (1,353 )   (69 )   (6,209 )
Income (loss) from continuing operations 516 (5,774 ) (1,628 ) (16,208 )
(Loss) income from discontinued operations, net of taxes   -     (735 )   -     10,403  
Net income (loss) $ 516   $ (6,509 ) $ (1,628 ) $ (5,805 )
 
Basic weighted average shares outstanding   21,900     22,148     21,873     22,650  
 
Net income (loss) per share – basic:
Income (loss) from continuing operations $ 0.02 $ (0.26 ) $ (0.07 ) $ (0.72 )
(Loss) income from discontinued operations   -     (0.03 )   -     0.46  
Net income (loss) per share $ 0.02   $ (0.29 ) $ (0.07 ) $ (0.26 )
 
Diluted weighted average shares outstanding   22,088     22,148     21,873     22,650  
 
Net income (loss) per share – diluted:
Income (loss) from continuing operations $ 0.02 $ (0.26 ) $ (0.07 ) $ (0.72 )
(Loss) income from discontinued operations   -     (0.03 )   -     0.46  
Net income (loss) per share $ 0.02   $ (0.29 ) $ (0.07 ) $ (0.26 )
 

AGILYSYS, INC.

BUSINESS SEGMENT INFORMATION

(UNAUDITED)

 
  Three Months Ended December 31, 2012     Three Months Ended December 31, 2011
Reportable Segments   Corporate/   Reportable Segments   Corporate/  
(In thousands) HSG   RSG Other Consolidated HSG   RSG Other Consolidated
 
Net revenue:
Products $ 12,251 $ 27,959 $ - $ 40,210 $ 6,618 $ 19,107 $ - $ 25,725
Support, maintenance and subscription services 12,461 6,944 - 19,405 12,243 6,032 - 18,275
Professional services   3,478     4,118     -     7,596     2,819     4,763     -     7,582  
Total net revenue $ 28,190 $ 39,021 $ - $ 67,211 $ 21,680 $ 29,902 $ - $ 51,582
 
Gross profit $ 16,168 $ 7,281 $ - $ 23,449 $ 13,957 $ 5,976 $ - $ 19,933
Gross profit margin 57.4 % 18.7 % 34.9 % 64.4 % 20.0 % 38.6 %
 
Operating income (loss) $ 3,998 $ 3,020 $ (6,207 ) $ 811 $ 1,864 $ 1,439 $ (10,352 ) $ (7,049 )
Interest expense, net - - 56 56 - - 56 56
Other expenses, net   -     -     220     220     -     -     22     22  

Income (loss) from continuing operations before income taxes

$ 3,998   $ 3,020   $ (6,483 ) $ 535   $ 1,864   $ 1,439   $ (10,430 ) $ (7,127 )
 
 
Nine Months Ended December 31, 2012 Nine Months Ended December 31, 2011
Reportable Segments Corporate/ Reportable Segments Corporate/
HSG RSG Other Consolidated HSG RSG Other Consolidated
 
Net revenue:
Products $ 26,087 $ 63,175 $ - $ 89,262 $ 18,399 $ 61,988 $ - $ 80,387
Support, maintenance and subscription services 37,812 19,535 - 57,347 35,291 18,413 - 53,704
Professional services   10,882     15,612     -     26,494     9,800     12,967     -     22,767  
Total net revenue $ 74,781 $ 98,322 $ - $ 173,103 $ 63,490 $ 93,368 $ - $ 156,858
 
Gross profit $ 46,690 $ 19,218 $ - $ 65,908 $ 40,187 $ 18,833 $ - $ 59,020
Gross profit margin 62.4 % 19.5 % 38.1 % 63.3 % 20.2 % 37.6 %
 
Operating income (loss) $ 10,254 $ 6,862 $ (18,394 ) $ (1,278 ) $ 2,075 $ 5,169 $ (28,485 ) $ (21,241 )
Interest expense, net - - 217 217 - - 883 883
Other expenses, net   -     -     202     202     -     -     293     293  

Income (loss) from continuing operations before income taxes

$ 10,254   $ 6,862   $ (18,813 ) $ (1,697 ) $ 2,075   $ 5,169   $ (29,661 ) $ (22,417 )
 

AGILYSYS, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(UNAUDITED)

 
(In thousands, except share data)   December 31,   March 31,
2012 2012
ASSETS
Current assets:
Cash and cash equivalents $ 79,838 $ 97,587
Accounts receivable, net of allowance of $759 and $632, respectively 51,923 32,531
Inventories 18,192 15,710
Prepaid expenses 2,863 2,975
Other current assets   1,538     5,492  
Total current assets 154,354 154,295
Property and equipment, net 15,231 16,504
Goodwill 14,259 15,198
Intangible assets, net 15,922 14,135
Other non-current assets   4,005     4,007  
Total assets $ 203,771   $ 204,139  
 
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Accounts payable $ 42,298 $ 24,938
Deferred revenue 23,717 28,441
Accrued and other current liabilities 13,428 23,983
Capital lease obligations – current   342     647  
Total current liabilities 79,785 78,009
Deferred income taxes – non-current 5,186 5,135
Capital lease obligations – non-current 428 347
Other non-current liabilities 5,151 6,210
Shareholders’ equity:
Common shares, without par value, at $0.30 stated value; authorized 80,000,000 shares; 31,606,831 issued; and 22,136,981 and 21,875,850 shares outstanding at December 31, 2012 and March 31, 2012, respectively 9,482 9,482
Treasury shares (9,469,850 shares at December 31, 2012 and 9,730,981 shares at March 31, 2012) (2,840 ) (2,919 )
Capital in excess of stated value (14,919 ) (16,032 )
Retained earnings 122,248 123,876
Accumulated other comprehensive (loss) income   (750 )   31  
Total shareholders’ equity   113,221     114,438  
Total liabilities and shareholders’ equity $ 203,771   $ 204,139  
 

AGILYSYS, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(UNAUDITED)

 
  Nine Months Ended
(In thousands) December 31,
2012   2011
Operating activities:
Net loss $ (1,628 ) $ (5,805 )
Income from discontinued operations   -     10,403  
Loss from continuing operations (1,628 ) (16,208 )
Adjustments to reconcile net loss from continuing operations to net cash used in operating activities:
Restructuring, severance and other charges 1,524 10,590
Payments for restructuring charges (6,550 ) (3,916 )
Asset impairments and related charges 208 -
Depreciation 2,024 3,177
Amortization 3,304 4,757
Share-based compensation 1,274 2,350
Changes in operating assets and liabilities:
Accounts receivable (19,369 ) 1,746
Inventories (2,479 ) (773 )
Accounts payable 16,610 2,771
Deferred revenue (4,673 ) (10,677 )
Accrued and other liabilities (7,071 ) (4,846 )
Income taxes payable (319 ) 1,635
Other changes, net   (243 )   (375 )
Net cash used in operating activities from continuing operations (17,388 ) (9,769 )
Net cash used in operating activities from discontinued operations   -     (27,923 )
Net cash used in operating activities (17,388 ) (37,692 )
 
Investing activities:
Proceeds from the sale of marketable securities 4,347 5,025
Proceeds from the sale of TSG - 59,470
Investments in marketable securities - (40,039 )
Capital expenditures (4,051 ) (3,089 )
(Investments in) proceeds from Company-owned life insurance policies   (85 )   235  
Net cash provided by investing activities from continuing operations 211 21,602
Net cash provided by investing activities from discontinued operations   -     -  
Net cash provided by investing activities 211 21,602
 
Financing activities:
Exercise of employee stock options 67 210
Repurchases of shares to satisfy employee tax withholding and option price (148 ) (1,328 )
Repurchase of common stock - (12,127 )
Principal payment under long-term obligations   (545 )   (823 )
Net cash used in financing activities from continuing operations (626 ) (14,068 )
Net cash used in financing activities from discontinued operations   -     -  
Net cash used in financing activities (626 ) (14,068 )
 
Effect of exchange rate changes on cash   54     (135 )
Cash flows used in continuing operations (17,749 ) (2,370 )
Cash flows used in discontinued operations   -     (27,923 )
Net decrease in cash (17,749 ) (30,293 )
Cash and cash equivalents at beginning of period   97,587     74,354  
Cash and cash equivalents at end of period $ 79,838   $ 44,061  
 

AGILYSYS, INC.

RECONCILIATION OF OPERATING INCOME (LOSS) TO ADJUSTED NET INCOME (LOSS)

(UNAUDITED)

 
(In thousands, except per share data)   Three Months Ended   Nine Months Ended
December 31, December 31,
2012   2011 2012   2011
 
Operating income (loss) $ 811 $ (7,049 ) $ (1,278 ) $ (21,241 )
Share-based compensation expense 443 361 1,274 2,350
Amortization of intangibles 832 914 2,554 2,782
Asset impairments and related charges - - 208 -
Impact from revision to prior period financial statements - - - 1,127
Restructuring, severance and other charges   (31 )   4,556     1,524     10,590  
Adjusted operating income (loss) from continuing operations (a) 2,055 (1,218 ) 4,282 (4,392 )
 
Other expenses, net 276 78 419 1,176
Cash income tax expense (b)   50     82     113     241  
Adjusted net income (loss) (a) $ 1,729   $ (1,378 ) $ 3,750   $ (5,809 )
 
Weighted average shares outstanding:
Basic 21,900 22,148 21,873 22,650
Diluted 22,088 22,148 21,873 22,650
 
Adjusted net income (loss) per share (a):
Basic $ 0.08 $ (0.06 ) $ 0.17 $ (0.26 )
Diluted $ 0.08 $ (0.06 ) $ 0.17 $ (0.26 )
 
(a) Non-GAAP financial measure
 
(b) Taxes calculated based upon our cash tax rate for the three and nine months ended December 31, 2012 and 2011.
 

AGILYSYS, INC.

RECONCILIATION OF OPERATING CASH FLOWS FROM CONTINUING OPERATIONS

TO ADJUSTED CASH FLOWS FROM CONTINUING OPERATIONS

(UNAUDITED)

 
  Nine Months Ended
(In thousands) December 31,
2012   2011
Operating activities:
Net cash used in continuing operations $ (17,388 ) $ (9,769 )
Non-recurring cash items:
Restructuring payments 6,550 3,916
BEP/SERP payments   6,271     4,420  
Adjusted cash used in continuing operations $ (4,567 ) $ (1,433 )

More Stories By Business Wire

Copyright © 2009 Business Wire. All rights reserved. Republication or redistribution of Business Wire content is expressly prohibited without the prior written consent of Business Wire. Business Wire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

@ThingsExpo Stories
SYS-CON Events announced today that HPM Networks will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. For 20 years, HPM Networks has been integrating technology solutions that solve complex business challenges. HPM Networks has designed solutions for both SMB and enterprise customers throughout the San Francisco Bay Area.
For IoT to grow as quickly as analyst firms’ project, a lot is going to fall on developers to quickly bring applications to market. But the lack of a standard development platform threatens to slow growth and make application development more time consuming and costly, much like we’ve seen in the mobile space. In his session at @ThingsExpo, Mike Weiner, Product Manager of the Omega DevCloud with KORE Telematics Inc., discussed the evolving requirements for developers as IoT matures and conducted a live demonstration of how quickly application development can happen when the need to comply wit...
The Internet of Everything (IoE) brings together people, process, data and things to make networked connections more relevant and valuable than ever before – transforming information into knowledge and knowledge into wisdom. IoE creates new capabilities, richer experiences, and unprecedented opportunities to improve business and government operations, decision making and mission support capabilities.
Explosive growth in connected devices. Enormous amounts of data for collection and analysis. Critical use of data for split-second decision making and actionable information. All three are factors in making the Internet of Things a reality. Yet, any one factor would have an IT organization pondering its infrastructure strategy. How should your organization enhance its IT framework to enable an Internet of Things implementation? In his session at @ThingsExpo, James Kirkland, Red Hat's Chief Architect for the Internet of Things and Intelligent Systems, described how to revolutionize your archit...
MuleSoft has announced the findings of its 2015 Connectivity Benchmark Report on the adoption and business impact of APIs. The findings suggest traditional businesses are quickly evolving into "composable enterprises" built out of hundreds of connected software services, applications and devices. Most are embracing the Internet of Things (IoT) and microservices technologies like Docker. A majority are integrating wearables, like smart watches, and more than half plan to generate revenue with APIs within the next year.
Growth hacking is common for startups to make unheard-of progress in building their business. Career Hacks can help Geek Girls and those who support them (yes, that's you too, Dad!) to excel in this typically male-dominated world. Get ready to learn the facts: Is there a bias against women in the tech / developer communities? Why are women 50% of the workforce, but hold only 24% of the STEM or IT positions? Some beginnings of what to do about it! In her Opening Keynote at 16th Cloud Expo, Sandy Carter, IBM General Manager Cloud Ecosystem and Developers, and a Social Business Evangelist, d...
In his keynote at 16th Cloud Expo, Rodney Rogers, CEO of Virtustream, discussed the evolution of the company from inception to its recent acquisition by EMC – including personal insights, lessons learned (and some WTF moments) along the way. Learn how Virtustream’s unique approach of combining the economics and elasticity of the consumer cloud model with proper performance, application automation and security into a platform became a breakout success with enterprise customers and a natural fit for the EMC Federation.
The Internet of Things is not only adding billions of sensors and billions of terabytes to the Internet. It is also forcing a fundamental change in the way we envision Information Technology. For the first time, more data is being created by devices at the edge of the Internet rather than from centralized systems. What does this mean for today's IT professional? In this Power Panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists addressed this very serious issue of profound change in the industry.
Discussions about cloud computing are evolving into discussions about enterprise IT in general. As enterprises increasingly migrate toward their own unique clouds, new issues such as the use of containers and microservices emerge to keep things interesting. In this Power Panel at 16th Cloud Expo, moderated by Conference Chair Roger Strukhoff, panelists addressed the state of cloud computing today, and what enterprise IT professionals need to know about how the latest topics and trends affect their organization.
It is one thing to build single industrial IoT applications, but what will it take to build the Smart Cities and truly society-changing applications of the future? The technology won’t be the problem, it will be the number of parties that need to work together and be aligned in their motivation to succeed. In his session at @ThingsExpo, Jason Mondanaro, Director, Product Management at Metanga, discussed how you can plan to cooperate, partner, and form lasting all-star teams to change the world and it starts with business models and monetization strategies.
Converging digital disruptions is creating a major sea change - Cisco calls this the Internet of Everything (IoE). IoE is the network connection of People, Process, Data and Things, fueled by Cloud, Mobile, Social, Analytics and Security, and it represents a $19Trillion value-at-stake over the next 10 years. In her keynote at @ThingsExpo, Manjula Talreja, VP of Cisco Consulting Services, discussed IoE and the enormous opportunities it provides to public and private firms alike. She will share what businesses must do to thrive in the IoE economy, citing examples from several industry sectors.
There will be 150 billion connected devices by 2020. New digital businesses have already disrupted value chains across every industry. APIs are at the center of the digital business. You need to understand what assets you have that can be exposed digitally, what their digital value chain is, and how to create an effective business model around that value chain to compete in this economy. No enterprise can be complacent and not engage in the digital economy. Learn how to be the disruptor and not the disruptee.
Akana has released Envision, an enhanced API analytics platform that helps enterprises mine critical insights across their digital eco-systems, understand their customers and partners and offer value-added personalized services. “In today’s digital economy, data-driven insights are proving to be a key differentiator for businesses. Understanding the data that is being tunneled through their APIs and how it can be used to optimize their business and operations is of paramount importance,” said Alistair Farquharson, CTO of Akana.
Business as usual for IT is evolving into a "Make or Buy" decision on a service-by-service conversation with input from the LOBs. How does your organization move forward with cloud? In his general session at 16th Cloud Expo, Paul Maravei, Regional Sales Manager, Hybrid Cloud and Managed Services at Cisco, discusses how Cisco and its partners offer a market-leading portfolio and ecosystem of cloud infrastructure and application services that allow you to uniquely and securely combine cloud business applications and services across multiple cloud delivery models.
The enterprise market will drive IoT device adoption over the next five years. In his session at @ThingsExpo, John Greenough, an analyst at BI Intelligence, division of Business Insider, analyzed how companies will adopt IoT products and the associated cost of adopting those products. John Greenough is the lead analyst covering the Internet of Things for BI Intelligence- Business Insider’s paid research service. Numerous IoT companies have cited his analysis of the IoT. Prior to joining BI Intelligence, he worked analyzing bank technology for Corporate Insight and The Clearing House Payment...
"Optimal Design is a technology integration and product development firm that specializes in connecting devices to the cloud," stated Joe Wascow, Co-Founder & CMO of Optimal Design, in this SYS-CON.tv interview at @ThingsExpo, held June 9-11, 2015, at the Javits Center in New York City.
SYS-CON Events announced today that CommVault has been named “Bronze Sponsor” of SYS-CON's 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. A singular vision – a belief in a better way to address current and future data management needs – guides CommVault in the development of Singular Information Management® solutions for high-performance data protection, universal availability and simplified management of data on complex storage networks. CommVault's exclusive single-platform architecture gives companies unp...
Electric Cloud and Arynga have announced a product integration partnership that will bring Continuous Delivery solutions to the automotive Internet-of-Things (IoT) market. The joint solution will help automotive manufacturers, OEMs and system integrators adopt DevOps automation and Continuous Delivery practices that reduce software build and release cycle times within the complex and specific parameters of embedded and IoT software systems.
"ciqada is a combined platform of hardware modules and server products that lets people take their existing devices or new devices and lets them be accessible over the Internet for their users," noted Geoff Engelstein of ciqada, a division of Mars International, in this SYS-CON.tv interview at @ThingsExpo, held June 9-11, 2015, at the Javits Center in New York City.
Internet of Things is moving from being a hype to a reality. Experts estimate that internet connected cars will grow to 152 million, while over 100 million internet connected wireless light bulbs and lamps will be operational by 2020. These and many other intriguing statistics highlight the importance of Internet powered devices and how market penetration is going to multiply many times over in the next few years.