|By Business Wire||
|February 14, 2013 04:02 PM EST||
Envestnet (NYSE: ENV), a leading provider of unified wealth management technology and services to investment advisors, today reported financial results for its fourth quarter and full year ended December 31, 2012.
|Key Financial Metrics||Fourth Quarter||%||Full Year||%|
|(in millions except per share data)||2012||2011||Change||2012||2011||Change|
|Revenues from AUM/A||$34.7||$24.6||41%||$127.2||$99.2||28%|
|Adjusted Net Income per Share(1)||$ 0.10||$ 0.11||-9%||$ 0.32||$ 0.42||-24%|
Financial Results for the Fourth Quarter of 2012 Compared to the Fourth Quarter of 2011:
- Revenues from assets under management (AUM) or assets under administration (AUA) increased 41% to $34.7 million for the fourth quarter of 2012 from $24.6 million for the fourth quarter of 2011; total revenues, which include licensing and professional services fees, increased 45% to $44.4 million for the fourth quarter of 2012 from $30.5 million for the fourth quarter of 2011.
- Adjusted revenues, which exclude the effect of purchase accounting on the fair value of acquired deferred revenue, increased 46% to $44.6 million for the fourth quarter of 2012 from $30.5 million for the fourth quarter of 2011.
- Net income was $0.8 million, or $0.02 per diluted share, for the fourth quarter of 2012 compared to $1.8 million, or $0.06 per diluted share, for the fourth quarter of 2011.
- Adjusted EBITDA(1) was $7.2 million for the fourth quarter of 2012 compared to $6.5 million for the fourth quarter of 2011.
- Adjusted Net Income(1) was $3.3 million, or $0.10 per diluted share, for the fourth quarter of 2012 compared to $3.5 million, or $0.11 per diluted share, for the fourth quarter of 2011.
Financial Results for Full Year 2012 Compared to Full Year 2011:
- Revenues from AUM or AUA increased 28% to $127.2 million for 2012 from $99.2 million for 2011; total revenues, which include licensing and professional services fees, increased 28% to $157.3 million for 2012 from $123.2 million for 2011.
- Adjusted revenues, which exclude the effect of purchase accounting on the fair value of acquired deferred revenue, increased 29% to $158.5 million for 2012 from $123.2 million for 2011.
- Net income was $1.4 million, or $0.04 per diluted share, for 2012 compared to $7.6 million, or $0.23 per diluted share, for 2011.
- Adjusted EBITDA(1) was $24.0 million for 2012 compared to $27.4 million for 2011. Adjusted EBITDA increased throughout 2012, having grown 42% from $5.1 million in the first quarter to $7.2 million in the fourth quarter, ending the year at a $28.9 million annual run rate.
- Adjusted Net Income(1) was $10.6 million, or $0.32 per diluted share, for 2012 compared to $13.8 million, or $0.42 per diluted share, for 2011.
“During 2012, we successfully delivered on our organic growth and acquisition plans, growing adjusted revenue by 29 percent year over year,” said Jud Bergman, Chairman and CEO of Envestnet. “Our advisor base grew by 16 percent and accounts grew by 32 percent, demonstrating our ability to both add advisors to our platform, and more importantly deepen our relationship with them. This is strong evidence of Envestnet’s leadership role in empowering advisors to transform wealth management to a transparent, conflict-free and fully-aligned standard of care for investors.”
“We unify and simplify the wealth management process for advisors, empowering them to achieve higher standards in portfolio and practice management. As we empower advisors to deliver better results for their clients, we believe Envestnet is well-positioned to deliver substantial revenue growth and margin expansion in 2013,” concluded Mr. Bergman.
Key Operating Metrics as of and for the Quarter Ended December 31, 2012:
- AUM/A of $98.3 billion, up 40% from December 31, 2011
- Accounts (AUM/A only) of 449,478, up 32% from December 31, 2011
- Advisors (AUM/A only) served totaled 16,085, up 16% from December 31, 2011
- Gross sales of AUM/A of $9.7 billion, resulting in net flows of $4.2 billion
The following tables summarize the changes in AUM and AUA for the quarter and year ended December 31, 2012:
|In Millions Except Account Data||9/30/12||Sales||tions||Flows||
|Assets under Management (AUM)||$||29,232||$||3,319||$||(1,908||)||$||1,411||$||327||$||30,970|
|Assets under Administration (AUA)||64,229||6,336||(3,565||)||2,771||368||67,368|
During the fourth quarter, the Company added $1.5 billion of conversions included in the above AUM/A gross sales figures, and an additional $7.9 billion of conversions in Licensing.
|In Millions Except Account Data||12/31/11||Sales||tions||Net Flows||
|Assets under Management (AUM)||$||22,936||$||12,487||$||(6,850||)||$||5,637||$||2,397||$||30,970|
|Assets under Administration (AUA)||47,148||28,381||(12,520||)||15,861||4,359||67,368|
During 2012, the Company added $10.4 billion of conversions included in the above AUM/A gross sales figures, and an additional $13.2 billion of conversions in Licensing.
Review of Fourth Quarter Financial Results
Adjusted revenues increased 46% to $44.6 million for the fourth quarter of 2012 from $30.5 million for the fourth quarter of 2011. The increase was primarily due to a 41% increase in revenues from AUM or AUA to $34.7 million from $24.6 million in the prior year period, as well as higher licensing and professional services revenues related to the acquisitions of Tamarac Inc. and Prima Capital Holding, Inc., both of which closed during the second quarter of 2012.
Total operating expenses in the fourth quarter of 2012 increased 52% to $42.7 million from $28.1 million in the prior year period. Cost of revenues increased 54% to $16.0 million in the fourth quarter of 2012 from $10.4 million in the fourth quarter of 2011 due to the increase in revenue from AUM or AUA and additional cost from acquired businesses. Compensation and benefits increased 59% to $15.2 million in the fourth quarter of 2012 from $9.6 million in the prior year period due to higher personnel cost from completed acquisitions, as well as higher stock-based compensation expense. General and administration expenses increased 34% to $8.1 million in the fourth quarter of 2012 from $6.0 million in the prior year period, primarily due to transaction costs related to the completed acquisitions, and ongoing expense from the acquired companies.
Income from operations was $1.7 million for the fourth quarter of 2012 compared to $2.4 million for the fourth quarter of 2011. Net income was $0.8 million, or $0.02 per diluted share, for the fourth quarter of 2012 compared to $1.8 million, or $0.06 per diluted share, for the fourth quarter of 2011. Adjusted EBITDA(1) in the fourth quarter of 2012 was $7.2 million, compared to $6.5 million in the prior year period. Adjusted Net Income(1) was $3.3 million, compared to $3.5 million in the fourth quarter of 2011. Adjusted Net Income Per Share(1) was $0.10 per diluted share, compared to $0.11 per diluted share in the fourth quarter of 2011.
Change in Independent Registered Public Accounting Firm
In a Form 8-K filed today with the Securities and Exchange Commission (“Commission”), the Company reported that its Audit Committee terminated McGladrey LLP (“McGladrey”) and appointed KPMG (“KPMG”) as its independent registered public accounting firm. The Audit Committee reached this decision after it was determined that certain non-audit tax services provided by McGladrey to Envestnet may be inconsistent with the Commission’s rules on auditor independence. As a result, KPMG will perform the Company’s 2012 audit, as well as a re-audit of the Company’s 2011 financial statements, to ensure independent audit opinions are provided on the Company’s financial statements.
Envestnet’s Audit Committee and management believe that the financial statements contained in this press release and Envestnet’s previous SEC filings fairly present, in all material respects, the financial condition and results of operations of Envestnet as of and for the periods presented and may continue to be relied upon. Nevertheless, in light of the requirements of federal securities laws and regulations and because the purpose of the auditor independence rules is to provide investors with confidence that audits of public companies are carried out objectively and impartially by the independent accounting firms, it has been determined that Envestnet’s investors will receive a meaningful benefit from the reassurance that will be provided by having Envestnet’s financial statements for the year ended December 31, 2011 re-audited by a new independent accountant. Consequently, Envestnet’s Audit Committee has engaged KPMG, as Envestnet’s new independent registered public accountants, to re-audit Envestnet’s financial statements for the year ended December 31, 2011 and to re-review Envestnet’s quarterly financial information that will be contained in Envestnet’s Annual Report on Form 10-K for the year ended December 31, 2012 (the “2012 Form 10-K”). Envestnet is working with KPMG to complete the necessary audit work as quickly as reasonably practicable. It is unlikely, however, that the audit for the year ended December 31, 2012 and the re-audit for the year ended December 31, 2011 will be completed on or before March 18, 2013, the date by which the 2012 Form 10-K must be filed with the SEC.
The Company's financial results presented in this press release have not yet been reviewed or audited by KPMG. Consequently, the financial results contained in this press release are subject to any adjustments that may result from the completion of the audit process which may be material. Furthermore, there can be no assurance that KPMG will not reach conclusions regarding the application of accounting standards, management estimates or other factors affecting our financial statements that are different from the Company's management in connection with their audit process, or that these conclusions will not require adjustments to our prior financial results.
The Company will host a conference call to discuss fourth quarter 2012 financial results today at 5:00 p.m. ET. The live webcast can be accessed from the Company's investor relations website at http://ir.envestnet.com/. The conference call can also be accessed live over the phone by dialing (877) 681-3374, or (719) 325-4910 for international callers. A replay will be available beginning one hour after the call and can be accessed from the Company’s investor relations website, or by dialing (877) 870-5176, or (858) 384-5517 for international callers; the conference ID is 3797447. The dial-in replay will be available for one week and the webcast replay will be available for one month following the date of the conference call.
Envestnet, Inc. (NYSE: ENV) is a leading provider of unified wealth management technology and services to investment advisors. Our open-architecture platforms unify and simplify the wealth management process, delivering unparalleled flexibility, accuracy, performance and value. Envestnet solutions enable the transformation of wealth management into a transparent, conflict-free and fully-aligned standard of care, and empower advisors to deliver better results.
Envestnet's Advisor Suite® software empowers financial advisors to better manage client outcomes and strengthen their practice. Envestnet provides institutional-quality research and advanced portfolio solutions through our Portfolio Management Consultants group, Envestnet | PMC®. Envestnet | Tamarac provides leading rebalancing, reporting and practice management software. For more information on Envestnet, please visit www.envestnet.com.
(1) Non-GAAP Financial Measures
“Adjusted revenues” exclude the effect of purchase accounting on the fair value of acquired deferred revenue. Under U.S. GAAP, we record at fair value the acquired deferred revenue for contracts in effect at the time the entities were acquired. Consequently, revenue related to acquired entities for periods subsequent to the acquisition does not reflect the full amount of revenue that would have been recorded by these entities had they remained stand-alone entities.
“Adjusted EBITDA” represents net income before deferred revenue fair value adjustment, interest income, interest expense, income tax provision, depreciation and amortization, non-cash stock-based compensation expense, gain on investments, other income, restructuring charges and transaction costs, severance, customer inducement costs, and litigation related expense.
“Adjusted net income” represents net income before deferred revenue fair value adjustment, non-cash stock-based compensation expense, restructuring expense and transaction costs, severance, amortization of acquired intangibles, customer inducement costs, imputed interest expense and litigation related expense. Reconciling items are tax effected using the income tax rates in effect on the applicable date.
“Adjusted net income per share” represents adjusted net income divided by the diluted number of weighted-average shares outstanding.
See reconciliation of Non-GAAP Financial Measures at the end of this press release. These measures should not be viewed as a substitute for revenues or net income determined in accordance with United States generally accepted accounting principles (GAAP).
Cautionary Statement Regarding Forward-Looking Statements
The forward-looking statements made in this press release and its attachments concerning, among other things, Envestnet, Inc.’s (the “Company”) expected financial performance and outlook, its strategic operational plans and growth strategy are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements involve risks and uncertainties and the Company’s actual results could differ materially from the results expressed or implied by such forward-looking statements. Furthermore, reported results should not be considered as an indication of future performance. The potential risks, uncertainties and other factors that could cause actual results to differ from those expressed by the forward-looking statements in this press release include, but are not limited to, difficulty in sustaining rapid revenue growth, which may place significant demands on the Company’s administrative, operational and financial resources, fluctuations in the Company’s revenue, the concentration of nearly all of the Company’s revenues from the delivery of investment solutions and services to clients in the financial advisory industry, the Company’s reliance on a limited number of clients for a material portion of its revenue, the renegotiation of fee percentages or termination of the Company’s services by its clients, the Company’s ability to identify potential acquisition candidates, complete acquisitions and successfully integrate acquired companies, the impact of market and economic conditions on the Company’s revenues, compliance failures, regulatory actions against the Company, the failure to protect the Company’s intellectual property rights, the Company’s inability to successfully execute the conversion of its clients’ assets from their technology platform to the Company’s technology platform in a timely and accurate manner, general economic conditions, changes to the Company’s previously reported financial information as a result of audit or reaudit, political and regulatory conditions, as well as management’s response to these factors. More information regarding these and other risks, uncertainties and factors is contained in the Company’s filings with the Securities and Exchange Commission (“SEC”) which are available on the SEC’s website at www.sec.gov or the Company’s Investor Relations website at http://ir.envestnet.com/. You are cautioned not to unduly rely on these forward-looking statements, which speak only as of the date of this press release. All information in this press release and its attachments is as of February 14, 2013 and, unless required by law, the Company undertakes no obligation to publicly revise any forward-looking statement to reflect circumstances or events after the date of this press release or to report the occurrence of unanticipated events.
|Condensed Consolidated Balance Sheets|
|(In thousands, except share information)|
|December 31,||December 31,|
|Cash and cash equivalents||$||29,983||$||64,909|
|Deferred tax assets, net||682||192|
|Prepaid expenses and other current assets||2,502||4,040|
|Total current assets||42,167||78,785|
|Property and equipment, net||11,791||11,091|
|Internally developed software, net||4,324||3,524|
|Intangible assets, net||27,150||12,225|
|Deferred tax assets, net||7,218||6,692|
|Other non-current assets||3,535||3,162|
|Liabilities and Stockholders' Equity|
|Total current liabilities||29,431||17,143|
|Deferred rent liability||2,195||1,414|
|Lease incentive liability||3,886||2,933|
|Other non-current liabilities||753||573|
|Total liabilities and stockholders' equity||$||162,337||$||137,702|
|Condensed Consolidated Statements of Operations|
|(In thousands, except share and per share information)|
|Three Months Ended||Twelve Months Ended|
|December 31,||December 31,|
|Assets under management or administration||$||34,715||$||24,567||$||127,213||$||99,236|
|Licensing and professional services||9,664||5,975||30,053||23,942|
|Cost of revenues||15,956||10,357||56,119||42,831|
|Compensation and benefits||15,247||9,612||55,278||40,305|
|General and administration||8,075||6,047||30,617||21,856|
|Depreciation and amortization||3,384||1,700||12,400||6,376|
|Total operating expenses||42,662||28,097||154,529||111,802|
|Income from operations||1,717||2,445||2,737||11,376|
|Other income (expense):|
|Loss on investments||-||-||-||(4||)|
|Total other income (expense)||3||(1,336||)||26||(796||)|
|Income before income tax provision (benefit)||1,720||1,109||2,763||10,580|
|Income tax provision (benefit)||943||(720||)||1,363||2,975|
|Net income per share:|
|Weighted average common shares outstanding:|
|Condensed Consolidated Statements of Cash Flows|
|(In thousands, unaudited)|
|Twelve Months Ended|
Adjustments to reconcile net income to net cash
provided by operating activities:
|Depreciation and amortization||12,400||6,376|
|Amortization of customer inducements||-||4,568|
|Deferred rent and lease incentive||1,389||332|
|Loss on investments||-||4|
|Write-off of customer inducemenet asset||-||174|
|Contract settlement charges||-||1,183|
|Deferred income taxes||(664||)||2,162|
|Changes in operating assets and liabilities:|
|Prepaid expenses and other current assets||3,518||(1,988||)|
|Customer inducements, net||-||(1,000||)|
|Other non-current assets||(188||)||(1,006||)|
|Other non-current liabilities||180||(39||)|
|Net cash provided by operating activities||29,201||24,721|
|Purchase of property and equipment||(4,838||)||(4,798||)|
|Capitalization of internally developed software||(2,350||)||(1,482||)|
|Repayment of notes payable||(174||)||(162||)|
|Proceeds from investments||7||28|
|Goodwill - working capital settlement||889||-|
|Acquisition of businesses, net||(62,352||)||(23,719||)|
|Net cash used in investing activities||(68,818||)||(30,133||)|
|Proceeds from exercise of stock options||2,069||2,747|
|Issuance of restricted stock||2,759||-|
|Purchase of treasury stock||(137||)||(94||)|
|Net cash provided by financing activities||4,691||2,653|
|DECREASE IN CASH AND CASH EQUIVALENTS||(34,926||)||(2,759||)|
|CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD||64,909||67,668|
|CASH AND CASH EQUIVALENTS, END OF PERIOD||$||29,983||$||64,909|
|Reconciliation of Non-GAAP Financial Measures|
|(in thousands, except share and per share information, unaudited)|
|Three Months Ended||Twelve Months Ended|
|December 31,||December 31,|
|Deferred revenue fair value adjustment||230||-||1,248||-|
|Deferred revenue fair value adjustment||230||-||1,248||-|
|Income tax provision (benefit)||943||(720||)||1,363||2,975|
|Depreciation and amortization||3,384||1,700||12,400||6,376|
|Stock-based compensation expense||1,217||703||4,342||3,062|
|Restructuring charges and transaction costs||506||689||2,718||1,054|
|Litigation related expense||115||13||265||128|
|Loss on investments||-||-||-||4|
|Impairment of customer inducement asset||-||-||-||174|
|Contract settlement charges||-||1,183||-||1,183|
|Customer inducement costs||-||948||-||4,568|
|Deferred revenue fair value adjustment||137||-||746||-|
|Stock-based compensation expense||729||420||2,597||1,831|
|Restructuring charges and transaction costs||486||412||1,810||630|
|Amortization of acquired intangibles||1,053||176||3,687||559|
|Litigation related expense||69||8||158||77|
|Customer inducement costs||-||567||-||2,732|
|Contract settlement charges||-||1,183||-||1,183|
|Contract settlement - reversal of deferred taxes||-||(1,187||)||-||(1,187||)|
|Impairment of customer inducement asset||-||-||-||104|
|Imputed interest expense||-||97||-||461|
|Adjusted net income||$||3,280||$||3,520||$||10,564||$||13,754|
|Diluted number of weighted-average shares outstanding||33,843,464||32,539,215||33,386,161||32,863,834|
|Adjusted net income per share||$||0.10||$||0.11||$||0.32||$||0.42|
Note: Adjustments to net income, excluding $459 of non-deductible transaction costs in 2012, are tax-effected using an income tax rate of 40.2% for 2012 and 2011, respectively.
|Historical Assets, Accounts and Advisors|
|(in millions, except account and advisor data; unaudited)|
|September 30,||December 31,|
|Assets Under Management (AUM)||$||22,936||$||26,084||$||26,758||$||29,232||$||30,970|
|Assets Under Administration (AUA)||47,148||54,336||60,511||64,229||67,368|
|Total Platform Assets||$||139,598||$||156,655||$||316,537||$||347,717||$||368,067|
|Total Platform Accounts||928,712||953,172||1,554,250||1,598,090||1,677,494|
Note: Licensing metrics include Envestnet | Tamarac, which added approximately $149 billion in assets, 550,000 accounts and 1,700 advisors as of May 1, 2012.
I recently attended and was a speaker at the 4th International Internet of @ThingsExpo at the Santa Clara Convention Center. I also had the opportunity to attend this event last year and I wrote a blog from that show talking about how the “Enterprise Impact of IoT” was a key theme of last year’s show. I was curious to see if the same theme would still resonate 365 days later and what, if any, changes I would see in the content presented.
Nov. 29, 2015 01:00 AM EST Reads: 433
Cloud computing delivers on-demand resources that provide businesses with flexibility and cost-savings. The challenge in moving workloads to the cloud has been the cost and complexity of ensuring the initial and ongoing security and regulatory (PCI, HIPAA, FFIEC) compliance across private and public clouds. Manual security compliance is slow, prone to human error, and represents over 50% of the cost of managing cloud applications. Determining how to automate cloud security compliance is critical to maintaining positive ROI. Raxak Protect is an automated security compliance SaaS platform and ma...
Nov. 28, 2015 08:00 PM EST Reads: 430
The Internet of Things (IoT) is growing rapidly by extending current technologies, products and networks. By 2020, Cisco estimates there will be 50 billion connected devices. Gartner has forecast revenues of over $300 billion, just to IoT suppliers. Now is the time to figure out how you’ll make money – not just create innovative products. With hundreds of new products and companies jumping into the IoT fray every month, there’s no shortage of innovation. Despite this, McKinsey/VisionMobile data shows "less than 10 percent of IoT developers are making enough to support a reasonably sized team....
Nov. 28, 2015 01:00 PM EST Reads: 479
Just over a week ago I received a long and loud sustained applause for a presentation I delivered at this year’s Cloud Expo in Santa Clara. I was extremely pleased with the turnout and had some very good conversations with many of the attendees. Over the next few days I had many more meaningful conversations and was not only happy with the results but also learned a few new things. Here is everything I learned in those three days distilled into three short points.
Nov. 28, 2015 12:00 PM EST Reads: 338
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo 2016 in New York and Silicon Valley. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 17th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The Internet of Things (IoT) is the most profound cha...
Nov. 28, 2015 12:00 PM EST Reads: 553
DevOps is about increasing efficiency, but nothing is more inefficient than building the same application twice. However, this is a routine occurrence with enterprise applications that need both a rich desktop web interface and strong mobile support. With recent technological advances from Isomorphic Software and others, rich desktop and tuned mobile experiences can now be created with a single codebase – without compromising functionality, performance or usability. In his session at DevOps Summit, Charles Kendrick, CTO and Chief Architect at Isomorphic Software, demonstrated examples of com...
Nov. 28, 2015 11:45 AM EST Reads: 407
As organizations realize the scope of the Internet of Things, gaining key insights from Big Data, through the use of advanced analytics, becomes crucial. However, IoT also creates the need for petabyte scale storage of data from millions of devices. A new type of Storage is required which seamlessly integrates robust data analytics with massive scale. These storage systems will act as “smart systems” provide in-place analytics that speed discovery and enable businesses to quickly derive meaningful and actionable insights. In his session at @ThingsExpo, Paul Turner, Chief Marketing Officer at...
Nov. 28, 2015 11:15 AM EST Reads: 417
In his keynote at @ThingsExpo, Chris Matthieu, Director of IoT Engineering at Citrix and co-founder and CTO of Octoblu, focused on building an IoT platform and company. He provided a behind-the-scenes look at Octoblu’s platform, business, and pivots along the way (including the Citrix acquisition of Octoblu).
Nov. 28, 2015 11:00 AM EST Reads: 517
In his General Session at 17th Cloud Expo, Bruce Swann, Senior Product Marketing Manager for Adobe Campaign, explored the key ingredients of cross-channel marketing in a digital world. Learn how the Adobe Marketing Cloud can help marketers embrace opportunities for personalized, relevant and real-time customer engagement across offline (direct mail, point of sale, call center) and digital (email, website, SMS, mobile apps, social networks, connected objects).
Nov. 28, 2015 10:30 AM EST Reads: 315
We all know that data growth is exploding and storage budgets are shrinking. Instead of showing you charts on about how much data there is, in his General Session at 17th Cloud Expo, Scott Cleland, Senior Director of Product Marketing at HGST, showed how to capture all of your data in one place. After you have your data under control, you can then analyze it in one place, saving time and resources.
Nov. 28, 2015 10:00 AM EST Reads: 199
The Internet of Everything is re-shaping technology trends–moving away from “request/response” architecture to an “always-on” Streaming Web where data is in constant motion and secure, reliable communication is an absolute necessity. As more and more THINGS go online, the challenges that developers will need to address will only increase exponentially. In his session at @ThingsExpo, Todd Greene, Founder & CEO of PubNub, exploreed the current state of IoT connectivity and review key trends and technology requirements that will drive the Internet of Things from hype to reality.
Nov. 28, 2015 08:45 AM EST Reads: 441
Two weeks ago (November 3-5), I attended the Cloud Expo Silicon Valley as a speaker, where I presented on the security and privacy due diligence requirements for cloud solutions. Cloud security is a topical issue for every CIO, CISO, and technology buyer. Decision-makers are always looking for insights on how to mitigate the security risks of implementing and using cloud solutions. Based on the presentation topics covered at the conference, as well as the general discussions heard between sessions, I wanted to share some of my observations on emerging trends. As cyber security serves as a fou...
Nov. 28, 2015 08:45 AM EST Reads: 332
With all the incredible momentum behind the Internet of Things (IoT) industry, it is easy to forget that not a single CEO wakes up and wonders if “my IoT is broken.” What they wonder is if they are making the right decisions to do all they can to increase revenue, decrease costs, and improve customer experience – effectively the same challenges they have always had in growing their business. The exciting thing about the IoT industry is now these decisions can be better, faster, and smarter. Now all corporate assets – people, objects, and spaces – can share information about themselves and thei...
Nov. 28, 2015 06:00 AM EST Reads: 254
Continuous processes around the development and deployment of applications are both impacted by -- and a benefit to -- the Internet of Things trend. To help better understand the relationship between DevOps and a plethora of new end-devices and data please welcome Gary Gruver, consultant, author and a former IT executive who has led many large-scale IT transformation projects, and John Jeremiah, Technology Evangelist at Hewlett Packard Enterprise (HPE), on Twitter at @j_jeremiah. The discussion is moderated by me, Dana Gardner, Principal Analyst at Interarbor Solutions.
Nov. 28, 2015 05:30 AM EST Reads: 735
Too often with compelling new technologies market participants become overly enamored with that attractiveness of the technology and neglect underlying business drivers. This tendency, what some call the “newest shiny object syndrome” is understandable given that virtually all of us are heavily engaged in technology. But it is also mistaken. Without concrete business cases driving its deployment, IoT, like many other technologies before it, will fade into obscurity.
Nov. 28, 2015 05:00 AM EST Reads: 365
Discussions of cloud computing have evolved in recent years from a focus on specific types of cloud, to a world of hybrid cloud, and to a world dominated by the APIs that make today's multi-cloud environments and hybrid clouds possible. In this Power Panel at 17th Cloud Expo, moderated by Conference Chair Roger Strukhoff, panelists addressed the importance of customers being able to use the specific technologies they need, through environments and ecosystems that expose their APIs to make true change and transformation possible.
Nov. 28, 2015 04:00 AM EST Reads: 543
The Internet of Things is clearly many things: data collection and analytics, wearables, Smart Grids and Smart Cities, the Industrial Internet, and more. Cool platforms like Arduino, Raspberry Pi, Intel's Galileo and Edison, and a diverse world of sensors are making the IoT a great toy box for developers in all these areas. In this Power Panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists discussed what things are the most important, which will have the most profound effect on the world, and what should we expect to see over the next couple of years.
Nov. 28, 2015 03:30 AM EST Reads: 478
Microservices are a very exciting architectural approach that many organizations are looking to as a way to accelerate innovation. Microservices promise to allow teams to move away from monolithic "ball of mud" systems, but the reality is that, in the vast majority of organizations, different projects and technologies will continue to be developed at different speeds. How to handle the dependencies between these disparate systems with different iteration cycles? Consider the "canoncial problem" in this scenario: microservice A (releases daily) depends on a couple of additions to backend B (re...
Nov. 28, 2015 03:00 AM EST Reads: 453
The cloud. Like a comic book superhero, there seems to be no problem it can’t fix or cost it can’t slash. Yet making the transition is not always easy and production environments are still largely on premise. Taking some practical and sensible steps to reduce risk can also help provide a basis for a successful cloud transition. A plethora of surveys from the likes of IDG and Gartner show that more than 70 percent of enterprises have deployed at least one or more cloud application or workload. Yet a closer inspection at the data reveals less than half of these cloud projects involve production...
Nov. 28, 2015 03:00 AM EST Reads: 485
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 Day 2 Keynote at 17th Cloud Expo, Sandy Carter, IBM General Manager Cloud Ecosystem and Developers, and a Social Business Evangelist, wil...
Nov. 28, 2015 02:00 AM EST Reads: 583