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C9560-515 exam Dumps Source : IBM SmartCloud Application Performance Management V7.7 Fundamentals

Test Code : C9560-515
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: 50 actual Questions

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IBM IBM SmartCloud Application Performance

IBM DevOps options to hurry up construction of cellular and Cloud functions | killexams.com actual Questions and Pass4sure dumps

cell computing and cloud applied sciences are two powerful traits with the expertise to aid corporations to develop into more aggressive. because of this, IBM relies on DevOps–an built-in application distribution philosophy, covering the total existence cycle of the pile procedure, from planning to the advent, rise and comparison.

The expostulate is to permit “continual delivery” of utility options permitting agencies to recall expertise of market alternatives and greater meet client calls for. improving construction tactics for cloud purposes is essential for companies. however, average strategies to software construction can obtain the changes however innovations recall weeks and to prevail in a changing marketplace, businesses cannot absorb the funds for to lengthen the time.

That’s why IBM has created these options to enrich and streamline these techniques. And perquisite here’s how the mega-colossal world company seeks to execute this:

Cloud solutions

The company continues to add analytical capabilities to its solutions within the cloud. most up-to-date of those is the Log evaluation, a portion of IBM SmartCloud Analytics. Log analysis can carry the power of automated analysis to data of IT belongings from the terabytes of unstructured records made from infrastructure and applications. IBM SmartCloud Monitoring application insight is an retort that helps organizations computer screen the efficiency and availability of functions hosted on a cloud in actual time.

The other offering is the multiplied IBM SmartCloud application services. builders can expend SmartCloud software features to installation and manage purposes written within the Hypertext Preprocessor programming language the usage of Zend Server 6. The assist for this language makes it less complicated for builders to create aboriginal purposes in the cloud.

“utility is the invisible thread driving transformations in corporations of everyone industries and sizes,” stated Kristof Kloeckner, measure manager IBM Rational software.  “As organizations and the dynamic markets wherein they conduct commerce develop into extra advanced, it's principal that they undertake a DevOps strategy to continuously delivery utility-pushed improvements to their customers.”

mobile solutions

Enabling efficient pile and administration of cell apps, IBM in the rise of the 12 months launched MobileFirst initiative. As portion of the initiatives, IBM has launched modern paraphernalia to assist agencies bring more suitable mobile applications sooner and at lower can charge.

Now extending the inventiveness, the company brought IBM Rational verify Workbench. With this solution, developers can list, adjust, reproduce and evaluate the examine eventualities to automate lots of (even heaps) of exams of a mobile machine. they'll moreover be in a position to virtualize and check elements of the utility that haven't been achieved yet.

IBM Worklight & IBM SmartCloud utility functions is a free carrier that allows developers to create purposes and installation them in IBM SmartCloud with IBM Worklight expertise. companies can further cell functions rapidly averting early fees within the venture management using this carrier.

IBM Joins fingers with AT&T to extend MobileFirst method

IBM and AT&T absorb announced a partnership to aid groups to extend inordinate performing mobile purposes. the mixing of each organizations’ technologies will assist enhance the trying out technique and analysis of the purposes and the battery life of mobile instruments, giving agencies the time to obtain alterations and better performance.

As a portion of the IBM MobileFirst strategy, cellular builders can examine the performance of their corporate mobile functions on any wireless network and enrich their performance.

the combination of AT&T’s software useful resource Optimizer (ARO) with IBM’s application construction retort for Collaborative Lifecycle administration (CLM) tackles finding and fixing efficiency and power bottlenecks of apps. ARO can aid builders create apps that preserve battery existence, load pages sooner and ingest community resources in a wiser way, everyone of which enrich the client adventure.

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appropriate corporations Owned via IBM | killexams.com actual Questions and Pass4sure dumps

desktop brand IBM (IBM) announced in late October that it would acquire open source software and cloud features hard purple Hat for $34 billion. Per the terms of the acquisition, purple Hat will continue a degree of autonomy as a separate company unit within the better IBM umbrella. This potential that crimson Hat's partnerships and present open supply projects are supine to proceed for the foreseeable future. in this feel, the acquisition can be considered as a win-win for each businesses: red Hat obtained a substantial amount of cash and entry to scaling without needing to surrender its pleasing strategy, goals, group, and culture, while IBM notched an magnificent feather in its cap and endured its expansion into the cloud.

this is not the first time that IBM has acquired a company. below, they are going to recall a glance at probably the most different companies the laptop maker has bought.

Transarc supplier

In 1994, IBM bought Pennsylvania-primarily based application outfit Transarc agency, a five-yr-old company which had popularized varied file system application. among other items, Transarc developed a allotted transaction processing video parade known as Encina; IBM utilized this product to enhance its own UNIX-based mostly products later on.

Lotus application

The maker of the universal Lotus 1-2-three spreadsheet software, one of the vital first person-pleasant and obtainable functions in the earliest days of IBM own computers, Lotus software turned into bought with the aid of IBM in 1995 for the expense of $3.5 billion. an stupendous impetus for the acquisition turned into Lotus Notes, a well-liked application Lotus had developed just before the purchase. IBM additionally purchased the commerce as a artery of accessing the customer-server computing world, which threatened to obtain host-based software a constituent of the previous.

Rational Machines

In 2003, IBM bought and rebranded Rational Machines for the expense of $2.1 billion. Rational offered an built-in pile environment designed to boost productiveness in progress group settings. IBM chose to buy the commerce after the dot-com bubble burst and when Rational had declined in cost (although the commerce changed into noiseless totally profitable on the time).

Cognos

IBM investors and customers will seemingly absorb encountered the enterprise's line of commerce intelligence and performance administration paraphernalia branded as Cognos products. The name of these items is tied to a corporation of the equal identify that the laptop maker got in 2007 for $4.9 billion. The deal changed into viewed as an incredible step toward IBM becoming a exact-level competitor of agencies dote Microsoft, with an intensive latitude of each hardware and application products.

Cleversafe

considered one of IBM's most simultaneous acquisitions is Cleversafe. IBM purchased Cleversafe on November 6, 2015. The commerce developed an expostulate storage gadget which was at first referred to as Dispersed Storage community but which has been rebranded establish up-acquisition because the IBM Cloud expostulate Storage provider. This acquisition was a different crucial step in IBM's ride towards cloud features.


IBM provides modern SmartCloud capabilities, Java PaaS | killexams.com actual Questions and Pass4sure dumps

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C9560-515 exam Dumps Source : IBM SmartCloud Application Performance Management V7.7 Fundamentals

Test Code : C9560-515
Test name : IBM SmartCloud Application Performance Management V7.7 Fundamentals
Vendor name : IBM
: 50 actual Questions

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Commvault Systems, Inc. (CVLT) Q2 2018 Earnings Conference convoke Transcript | killexams.com actual questions and Pass4sure dumps

Logo of jester cap with thought bubble.© The Motley Fool Logo of jester cap with thought bubble.

Commvault Systems, Inc.  (NASDAQ: CVLT)

Q2 2018 Earnings Conference Call

Oct. 30, 2018, 8:30 a.m. ET

Contents:
  • Prepared Remarks
  • Questions and Answers
  • Call Participants
  • Prepared Remarks:

    Operator

    Good day, ladies and gentlemen, and welcome to the Second Quarter 2019 Commvault Earnings Conference. (Operator Instructions) As a reminder, this conference convoke is being recorded.

    I would now dote to insert your host for today's conference, Mr. Michael Picariello, Director for Investor Relations. Sir, you may begin.

    Michael Picariello -- MD of Americas Research

    Good morning. Thanks for dialing in today for their fiscal second quarter 2019 earnings call. With me on the convoke are Bob Hammer, Chairman, President and Chief Executive Officer, Al Bunte, Chief Operating Officer and Brian Carolan, Chief pecuniary Officer.

    Before they begin, I'd dote to remind everyone that statements made during this call, including in the question-and-answer session at the cease of the call, may comprehend forward-looking statements, including statements regarding pecuniary projections and future performance. everyone these statements that relate to their beliefs, plans, expectations or intentions regarding the future are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and are based on their current expectations. Actual results may differ materially due to a number of risks and uncertainties, such as competitive factors, difficulties and delays inherent in the development, manufacturing, marketing and sale of software products and related services and generic economic conditions. For a discussion of these and other risks and uncertainties affecting their business, please perceive the risk factors contained in their Annual Report in figure 10-K and their most recent quarterly report in figure 10-Q and their other SEC filings and in the cautionary statement contained in their press release and on their website. The company undertakes no responsibility to update the information in this conference convoke under any circumstance. In addition, the progress and timing of any product release as well as features or functionality remain at their sole discretion.

    Our earnings press release was issued over the wire services earlier today and it moreover has been furnished to the SEC as an 8-K filing. The press release is moreover available on their Investor Relations website.

    On this conference call, they will provide non-GAAP pecuniary results. The reconciliation between the non-GAAP and GAAP measures can be institute in Table 4 accompanying the press release and posted on their website.

    Commvault adopted the modern revenue measure ASC606 on April 1, 2017. Their adoption was done on a retrospective basis, everyone prior periods in their pecuniary statements absorb been adjusted to comply with the modern rules.

    As a result, the results and growth percentage they will contend today are on a comparable basis using the modern rules. everyone references to software revenue are inclusive dollar amounts are a percentage for both software and products revenue as disclosed in their P&L.

    Today's live webcast will moreover comprehend a slide presentation as portion of Commvault prepared remarks to facilitate updates on their Commvault further initiatives. These initiatives comprehend an update on their transition to subscription revenue models, as well as their recent operational review. The slides moreover cover their announcement of modern multi-year revenue and operating margin targets. If you've not done so already, I would suggest logging into the webcast now to view or download a copy of the slides.

    Please moreover note that in order to best perceive the slides, they suggest enabling replete screen slide mode within the webcast. In addition, the slides can moreover be downloaded from the Commvault website under the Investor Relations page.

    This conference convoke is being recorded for replay and is being webcast and an archive of today's webcast will be available on their website following the call.

    I will now swirl the convoke over to Bob.

    Robert Hammer -- Chairman, President and Chief Executive Officer

    Thank you Mike, and qualified morning, everyone and thank you for joining their fiscal second quarter FY '19 earnings call. On today's convoke they will contend their fiscal 2019 second quarter results, their multi-year commerce model transformation to deliver shareholder value called Commvault Advance, including an update on the progress they absorb made to accelerate their transition to subscription revenue models, the results of their recent operational review, which includes the announcement of modern multi-year revenue and operating margin targets, and an update on their participate repurchase program. Let me briefly summarize their Q2 pecuniary results.

    Software and products revenues were down 3% year-over-year. Total revenues were up 1% year-over-year, EBIT margin was 14.8%, up 550 basis points year-over-year, EPS was $0.40 per participate versus $0.21 in the prior fiscal year.

    Our EBIT margin improvement was driven by cost efficiencies, implemented as portion of their Commvault further initiatives. Later in the presentation, they will talk about their modern revenue metrics that will provide greater clarity to investors on their subscription model transition, which has been accelerating over the final several quarters.

    In Q2, their subscription revenue represented the highest harmony of software revenue in their history and subscription annual condense value or ACV, which they will define later in the call, accelerated its year-over-year growth to over 90%.

    As a reminder, final quarter they were implementing a major corporatewide transformation called Commvault Advance. please recall note that Commvault issued a press release this morning, outlining the significant progress they absorb made since announcing Commvault further in May.

    The goals of Commvault further are to establish a strong foundation to better revenue, while at the selfsame time achieving much improved operating margin leverage. The implementation was a culmin turning to their equilibrium sheet and cash flows in the first quarter cash and short-term investments were partially 1.1 billion ation of a pair of years of effort across products, pricing, a reorganization of their sales and distribution functions and the establishment of a much stronger, more efficient routes to market.

    We believe that their second quarter software and products revenue reflected the temporary disruption from the significant Commvault further related changes they made during the quarter, including reorganization of their sales and distribution organizations, which in portion shifted a significant percentage of field resources to uphold their channel and alliance partners and major simplification of both products pricing to obtain their solutions easier to both sell and buy.

    We acted swiftly to implement these changes and while there was a higher plane of disruption than they had anticipated, the most significant changes are now largely completed and they are focused on go-forward execution throughout the rest of FY 2019.

    Based on the early results of these changes, they are already seeing improved momentum and absorb seen a keen extend in funnel growth, strong order current in October and solid forecast from the field. However, given the early stage of their transformation, they procedure to remain conservative with their near-term outlook until they can validate the positive churn of the commerce with solid quarter-on-quarter revenue growth.

    We believe the implementation of Commvault Advance, although challenging in the near term, puts us in a much stronger position to recall edge of the major shift in the market and significantly improves their capacity to execute their strategy and drive revenue and earnings growth.

    Commvault further leverages their power and shores up their weaknesses. Specifically, they believe Commvault has a leading technology to enable big enterprises to consolidate data management to deal with the faultfinding issues related to cost, cyber compliance in the cloud, which I convoke the 4Cs.

    As data scale increases, they are moreover well on their path to their exit by scale in their platform. They now absorb simplified software solutions, pricing, packaging and appliances to deal with the shift to simplification in both the enterprise and the midmarket, particularly with their converged appliances and Commvault complete data management.

    While they are the transparent technology leader and migrating and managing data in the cloud with IBM's $35 billion acquisition of Redhat this weekend, there will be additional focus on cloud and Commvault is well positioned to recall edge of that with the leading data management platform in the industry.

    We are leading the industry in data analytics with their know your data solutions with Commvault Activate. As portion of Advance, they are laser focused on improving their capacity to accelerate revenues through a much stronger sales and distribution. These efforts absorb been further bolstered with the recent hiring of several sales leaders with strong distribution focus.

    Commvault has been focused on making fundamental changes to their products and their businesses that they believe will deliver sustained revenue growth and profitability over both the near term and the long-term.

    These commerce model optimization changes that will deliver shareholder value comprehend an enhanced and expanded and simplified product portfolio, improved distribution leverage, a transition to subscription pricing and aligning their cost structure with their revenue growth.

    So let me talk about their product portfolio. As I just mentioned, a key constituent of Commvault further is to create and enhance expanded and simplified product portfolio, which includes product innovations that obtain it easier for customers to install and expend their products and changes to packaging and pricing structures to obtain a dramatically easier for their sales teams and partners to sell and customers to buy their products.

    Commvault now has four distinct, simply powerful offerings. One is Commvault complete backup recovery, which is the consolidation of what was previously 20 SKUs. Commvault HyperScale Software and Appliances, just converged data management protection, combined with scale-out secondary storage.

    Thirdly, Commvault orchestrate, which is fully automated cataclysm recovery, data test and data migration, particularly in the cloud and fourth, Commvault Activate, which is designed to aid customers know their data and then ascertain and extract modern commerce insights from data under management whether that data is on-premise or in the cloud.

    All these products absorb built upon a common software and technology platform they convoke the Commvault Data Platform.

    Another key strategy is to drive significantly improved distribution leverage through a combination of products, better aligned to routes to market, which comprehend their appliances in Commvault Complete, reallocation of sales resources from direct selling to supporting their partners and the expansion of their alliance relationships.

    During the first half of fiscal '19 they shifted a material portion of their sales and marketing resources from direct sales to supporting their channel and strategic partners and in strengthening their strategic relationship with key partners, including HPE, net Cisco, Microsoft and AWS.

    We expanded their partnership with HP. Commvault backup recovery software will now be fully integrated with the HPE store once appliances. The integration will allow backup data to be moved natively to the cloud or back to on premise. They anticipate this integration to be available in November.

    In addition, they launched sales programs for Commvault Complete and HyperScale, which are now included HPE's global price, which continue to align their field organizations and establish structure around their drawing pipeline build.

    We recently announced an expanded partnership with whereby NetApp is now a replete reseller partner. NetApp and NetApp channel partners can now sell the Commvault backup recovery software directly to its customers.

    We've continued to develop their strategic relationship with Hitachi, Bentara, Huawei and Fujitsu. They anticipate to perceive significant funnel build and revenue progress with both HP and NetApp during Q3. They remain excited about the commerce opening represented by their alliances with everyone of these leading technology vendors and believe that these relationships will drive significant opening for Commvault going forward.

    Let me talk about their transition to subscription pricing. rise in fiscal 2018, they began transitioning a significant portion of their modern customer revenue to subscription pricing models. This transition has benefits to both their customers and Commvault.

    Our success with subscription models has been better than they anticipated and their repeatable revenue streams had been significantly outgrowing their legacy pricing models. This transition has created some headwind through near-term topline revenue growth as a like-for-like subscription transaction initially generates less revenue than perpetual sale, but they believe that it's the perquisite long-term model in order to drive, better and sustainable revenue growth for the future. Brian will highlight some of these key metrics, which demonstrate their progress on this transition.

    Now let me talk about cost efficiencies. During fiscal '19, they made excellent progress in adjusting their cost structure so that they can deliver meaningful improvements to operating margins over the next pair of years. With the assistance of third party consultants, they identified areas of operational efficiencies both in the near and long term, which positively impacted the first half of FY '19 and they anticipate will drive higher operating margins for the equilibrium of FY '19 and beyond.

    Our progress is evidenced by the 61% year-over-year growth in Q2 in non-GAAP operating income. Brian will address their multi-year operating margin targets later in the call.

    While they are making changes to simplify and better their business, one thing they will not change is their commitment to innovation and delivering world-class solutions and uphold to their customers. As they identified economies in their cost structure, they absorb not decreased their investment in R&D or customer uphold since their objective is to maintain their technological leadership position in the industry.

    Our commitment to lead the industry in innovation is highlighted by the announcements they made recently at their third Annual Customer and colleague Conference Commvault GO. At the conference, they announced more powerful, yet simplified oversight of backup and data management operations by using sophisticated machine learning and artificial intelligence to automatically adjust backup schedules, dynamically auto optimize operations to better IT resource utilization, recall immediate actions to mitigate damage from a cyber bombard and provide actual time alerts on faultfinding issues.

    We moreover continued to maintain their leadership position in the cloud. Commvault Solutions seamlessly drudgery with more than 40 cloud offerings and they continue to be one of the leading data protection offerings to delivering workloads to the cloud in particular AWS, Azure and Google Cloud.

    Our capacity to enable customers to rapidly ride workloads to, from and between clouds, while protecting the data is a significant competitive edge and remains a key driver of the Commvault business.

    Now that the foundation of Commvault further is in place, they believe they will perceive increased topline momentum, as their channel strategy, go-to-market initiatives and alliance partnerships has started to demonstrate positive traction with funnel growth acceleration.

    We anticipate sequential revenue improvement during the second half of fiscal '19 based on the following. One, the success of Commvault HyperScale Appliance and HyperScale Software Solutions, cloud migration and management, success for the Commvault Data Platform to gain participate in big enterprises with the journey to the cloud and solutions to aid customers mitigate and retrieve from a cyber bombard with highly automated, machine learning and artificial intelligence aided data protection, cataclysm recovery and intrusion detection and mediation.

    Third, becoming a leading foundation for governance, data analytics and as an optimized data source from commerce analytics and finally, dramatically improving their growth in the mid-market by offering much more uphold to their channel and strategic partners, combined with the introduction of modern innovative product offerings and pricing.

    In summary, the implementation of the Commvault further initiatives in Q2 resulted in disruption that did not allow us to achieve their top line objective. However, they believe the pieces are now in space for the company to execute and deliver improved pecuniary performance.

    I will now swirl the convoke over to Brian. Brian?

    Brian Carolan -- Vice President and Chief pecuniary Officer

    Thank you, Bob and qualified morning everyone. In addition to covering the traditional pecuniary highlights for the second quarter of fiscal 2019, I will moreover disburse time updating you on the progress they absorb made to accelerate their transition to subscription revenue models, including metrics, which demonstrate their continued progress toward more repeatable software and products revenue streams.

    I will moreover update you on the results of their recent operational review, which includes the announcement of modern multiyear revenue and operating margin targets. And lastly, I will provide you an update on their participate repurchase program.

    In addition to their earnings release issued earlier this morning, they moreover absorb made available a presentation on the Investor Relations section of their website and moreover included this presentation in their 8-K filing. If you are on the webcast you can result along with these slides during my remarks.

    Q2 total revenues were $169.1 million representing an extend of 1% over the prior year period. On a sequential constant currency basis, total revenue would absorb been approximately $1.9 million higher, using prior quarter FX rates.

    We reported Q1 software and products revenue of $69.5 million, which was down 3% year-over-year. Revenue from enterprise deals, which they define as deals over $100,000 in software and product revenue in a given quarter, represented 66% of such revenue.

    Revenue from these transactions was up 8% year-over-year. The number of enterprise revenue transactions increased 10% year-over-year. Their average enterprise deal size was approximately $284,000 during the quarter.

    Gross margins were 84.6% for the quarter. The cost of third-party royalties related to their HyperScale software solutions and the cost of hardware related to their HyperScale Appliances is included in the cost of software and products revenue. Total non-GAAP operating expenses were approximately $115.2 million for the quarter, down approximately 10% year-over-year and 7% sequentially.

    We completed side 1 of Commvault further and institute significant efficiencies in their cost structure, which included reducing their overall headcount by approximately 7% since the rise of the fiscal year. They ended the September quarter with 2,644 employees.

    In addition, as they travel through side II of Commvault Advance, they remain focused on maintaining their technological leadership position in the industry. They execute not anticipate these operational initiatives to absorb an adverse impact their product progress strategy.

    Operating margins were 14.8% for the quarter, resulting in operating income or EBIT of approximately $25.1 million. As Bob mentioned, EBIT was up 61% year-over-year.

    Net income for the quarter was $19.1 million and EPS was $0.40 based on a diluted weighted average participate count of approximately 47.8 million shares. As a reminder, during FY '19, they lowered their pro forma income tax rate from 37% to 27%. They believe that as a result of US tax reform, 27% will align to their long-term GAAP and cash tax rates.

    We anticipate that their diluted weighted average participate count for replete year FY '19 will be approximately 48 million shares.

    Let's now change gears and disburse some time on their subscription pricing models and their continued shift to more repeatable revenue. Their subscription pricing models are continuing to resonate with customers. They believe their transition to subscription-based pricing models over the final six quarters has been very successful.

    For the sake of clarity and transparency, they are introducing two revenue metrics to aid investors track the growth and progress of their subscription revenue transition. As you will see, subscription revenue is becoming a larger portion of the commerce and they intend on accelerating the pace of this transition over the next several years.

    When you combine their subscription-based license sales with their other repeatable services revenue streams, such as maintenance, managed services and SaaS, it represents what they convoke their repeatable revenue. They are on track to achieve their goal of having 70% plus repeatable revenue in FY '19.

    Let me start out by defining the nature of their current revenue streams. slide 9 in their presentation includes a chart that summarizes revenue based on how it is recognized and if it is potentially repeatable, nearly everyone of Commvault software and product revenue is related to solutions that are hurry in the customers on-prem environment for cloud infrastructure.

    We currently execute not absorb any significant revenue streams related to hosted or SaaS solutions. As a result, as required under ASC606, the vast majority of Commvault software and product revenue is recognized at a point in time, when it is delivered to the customer and not over the course of a contractual period. This is honest for both perpetual licenses and their software subscription software licenses.

    As a reminder, their subscription software license agreements generally require a minimum, non-cancelable spending commitment and term, which is typically three years.

    We absorb intentionally used the word repeatable and not recurring to picture this revenue, because it is recognized at a point in time and not ratably over the length of the contract. Each time a customer renews a subscription arrangement, Commvault will recognize the entire value of the software that was sold in the age of sale.

    The only exception to this point in time recognition principle for their software products is sales of their pay as you travel utility arrangements. These utility arrangements are generally structured with no guaranteed minimums, which means they are recognized over time based on product usage.

    We measure total repeatable revenue as subscription software and product revenue, utility software revenue and the revenue related to their maintenance and uphold services. Note that unlike software, their maintenance and uphold services on both perpetual and subscription software arrangements are recognized ratably over the condense term.

    Slide 10 includes a summary of the benefits of subscription models. They absorb heard from many of their enterprise customers that consumption-based pricing such as subscription arrangements is very lofty on their list of prerequisites for a data management solution.

    Customers often prefer a subscription model, because it simplifies their procurement process, lowers their upfront commitment and aligns with their ride to consumption-based pricing models associated with cloud storage.

    Ultimately a subscription license provides the customer with much more flexibility to felicitous the changes in their commerce and technology. If subscription arrangements obtain it easier for prospects to become Commvault customers, they are confident that the lifetime value of their customer relationships will increase. And from a Commvault perspective, they believe these models will drive a more predictable and repeatable revenue stream over time.

    Let's now peruse at a simple representative illustration of a perpetual license transaction and how it compares with a subscription license arrangement over both a three and six-year period.

    In this example, on slide 11, they absorb compared a like-for-like perpetual license and subscription license arrangement. As you can see, the subscription solution requires less upfront investment by the customer and results in lower initial revenue to Commvault.

    In this example, the customer could purchase a perpetual license for their software for $245,000 plus annual customer uphold and maintenance. Each year that this customer renews their uphold maintenance, Commvault receives $45,000 of revenue. The total cost over a three-year age is $380,000 and increases to $515,000 over six years.

    To purchase the equivalent amount of software under a three-year subscription model, the customer would pay $300,000 either upfront or over the three-year life of the agreement. This expense is inclusive of both software and maintenance and support. Over time typically, after the first read everyone (ph) the cumulative revenue from a subscription model exceeds the perpetual model and related maintenance.

    We believe this is a win-win scenario by making it easier to initially transitioned to CommVault, their customers will moreover realize other pecuniary benefits over time versus a competitor's solution, such as more cost efficient storage, reduced downtime and less administrative cost.

    In recognition of their transition to subscription models, they believe it is now principal to highlight two key operating metrics, which demonstrate their continued progress toward more repeatable software and products revenue streams, which we've been discussing for several quarters now. They believe these metrics demonstrate the potential value of the transition to CommVault shareholders.

    The first is repeatable revenue and the second is a modern metric not previously discussed, but widely used in the industry and that is annual condense value or ACV. I will walk you through each of these in the next few slides.

    I will start with repeatable revenue, which is shown on slide 13, as preeminent earlier, their primary repeatable revenue streams are subscription, software and maintenance services. The amounts included on the subscription and utility software row are inclusive of both software and maintenance and uphold revenue on these arrangements.

    The amounts included on the recurring uphold and services row is primarily maintenance and uphold revenue related to existing perpetual software arrangements. They would deem approximately 71% of their Q2 total revenue to be repeatable in nature.

    As you can see, their repeatable revenue has been consistently growing in excess of their legacy pricing models and were up 22% year-over-year in Q2. The recent growth of their repeatable revenue streams has been driven by subscription software and products revenue, which is shown on slide 14. Subscription-based pricing represented a record 43% of software and products revenue in Q2, which compares to 17% in Q2 of final year.

    Software and products revenue from such subscription-based models are up 136% year-over-year, a significant acceleration from final quarter. This consists of both committed and often multiyear subscription sales as well as pay as you travel utility nature arrangements.

    The second metric, I would dote to contend is the subscription and utility annual condense value or ACV, which is shown on slide 16. As they transition to a mostly subscription or repeatable revenue model, this will provide greater visibility into the increased subscription contracts they sell. ACV is defined as one, the total active subscription contracts value, inclusive of revenue that was recognized as either software or uphold services, annualized for a 12-month equivalent value plus two, the annualized value of active utility or pay as you travel usage billings.

    We believe this ACV metric normalizes the variations in contractual length among their subscription and utility transactions and will aid investors and analysts track CommVault's transition to more potentially repeatable revenue streams.

    This metric will be a valuable data point to demonstrate the growth of their subscription and utility-based pricing models that they anticipate to drive modern customer acquisition, land and expand growth as well as up-sell opportunities. As of Q2, ACV has grown to $76 million after only a short age of selling subscription licenses. Importantly, ACV is accelerating and achieved approximately 90% year-over-year growth this quarter.

    As portion of their Commvault further initiatives, their go-to-market model is highly focused on primarily selling these subscription licenses and they anticipate subscription ACV to grow significantly over the next several years.

    I would now dote to disburse the next few minutes addressing both their near-term pecuniary outlook and their longer-term operating targets. As outlined in today's press release, they absorb been making qualified progress within their Commvault further framework across everyone aspects of the company by strengthening their competitive technology position, broadening their product line, expanding distribution relationships, reorganizing sales and marketing and driving cost reductions and efficiencies.

    We are on a path to improving the sustainable pecuniary performance of the company, while they anticipate that the changes they absorb made to products, pricing, distribution and partnerships will drive future revenues and operating leverage, they moreover took actions to align their cost structure with a reasonable revenue growth target.

    As Bob discussed earlier, the implementation of the Commvault further initiatives resulted in near-term disruption that did not allow us to achieve their Q2 and near-term topline objectives. They are moreover conservatively planning for modest revenue growth in Q3 and Q4. They anticipate third quarter total revenue to be approximately $181 million and fourth quarter revenue of approximately $189 million, resulting in total FY '19 revenues of approximately $715 million.

    These expectations are based on Q3 and Q4 software revenue of approximately $82 million and $86.5 million respectively. If they achieve their revenue outlook, they will continue to perceive margin expansion and strong year-over-year earnings growth based on the cost-cutting initiatives they began in early fiscal 2019.

    We now anticipate the Q3 EBIT margin percentage to be approximately 15% and the replete year FY '19 EBIT margin percentage to be approximately 14.7%, which is a 380 basis point improvement over the prior year.

    While their strategic fundamentals are strong and their capacity to execute has improved, they noiseless puss faultfinding challenges. It is principal to note that Commvault further is a major transformation and restructuring effort. They are making fundamental changes to the business, which carries risk, tide to disruption and execution. While they believe that the majority of the elements of Commvault further are in place, there is a unavoidable constituent of transformational risk associated with the execution of such initiatives, particularly in the near term.

    Despite these risks, they are already seeing improvements across numerous KPIs and October order volume is tracking well. Secondly, as they absorb discussed for many quarters, they are currently reliant upon a steady inflow of big six and seven-figure deals, which further with additional risks due to their complexity and timing.

    While they moreover need to better their close rates on these deals, big deal closure rates will likely remain lumpy, particularly in the near term. And lastly, while they are gratified with the progress they are making with subscription pricing models, the transition drives a headwind to near-term license revenue growth.

    This transition will continue to absorb a dampening sequel on revenue, but they believe will ultimately result in a higher lifetime value. As previously stated, fiscal '19 will be impacted by the near-term disruption of the changes they implemented that as portion of their Commvault further initiatives.

    As they enter fiscal '20, their goal is to capitalize on these changes and start to realize leverage from their distribution model as well as the operational efficiencies they identified and implemented in fiscal 2019.

    Turning to the next slide, you can perceive the detail of their multi-year revenue and operating margin targets. Their fiscal '20 objective is to grow revenue by at least 9% while achieving 20% plus operating margins. Their fiscal '21 target is to continue driving operating leverage and obtain 25%-plus operating margins.

    Our continued transition to more repeatable revenue will moreover be a key component of their improved pecuniary performance. As you can perceive on slide 21, their target is to achieve 80% repeatable revenue in fiscal '21.

    Given their transition to subscription software licensing began in fiscal '18, fiscal '21 represents the first opening for Commvault to significantly capitalize from renewals of existing subscription customers. As they continue driving repeatable revenue, they will focus on maximizing the value of subscription and utility annual condense value.

    As previously discussed, their current ACV is approximately $76 million. Their goal is to achieve approximately $240 million of subscription and utility annual condense value by the cease of fiscal '21. The $240 million goal is approximately eight times the ACV they stated with when they began their ride to subscription based pricing.

    In fiscal 2019, we've been focused on targeting areas of cost savings, such as reducing headcount by approximately 7% since the start of the year and setting the foundation for Commvault Advance.

    One of the core principles of further is to drive distribution levers through a focus on their alliances and partnerships. If they are successful, this will accelerate operating margin expansion and reduce their sales and marketing expense as a percentage of revenue.

    As you can perceive on this slide, their goal is to reduce sales and marketing expense from 53% of revenue in fiscal 2018 to 40% in fiscal '21.

    Let me now shift gears to their equilibrium sheet and cash flows. As of September 30, their cash and short-term investments equilibrium was approximately $484 million. During the quarter, they repatriated $67 million of international cash back to the US and reduced the amount of cash held in alien locations from $197 million as of June 30 to $130 million as of September 30.

    Our remaining international cash equilibrium is spread across over 35 countries, while their goal is to continue to return as much cash as feasible back to the U.S., they may not be able to execute so in an economically efficient manner or may be limited by alien laws and regulations.

    However, they execute believe that steps they are taking will result in the vast majority of future net cash current to be concentrated in the US.

    Free cash flow, which they define as cash current from operations less capital expenditures was approximately $17.3 million, which was up 2X, over the prior year period. As of September 30, 2018, their deferred revenue equilibrium was approximately $316 million, which is an extend of 7% over the prior year period. Nearly everyone of their deferred revenue is services revenue that has been invoiced to customers.

    Lastly, let me update you on their participate repurchases. During fiscal 2019, which includes transactions through yesterday, they absorb repurchased approximately $47 million or approximately 707,000 shares of their common stock at an average cost of $66.33 per share.

    As disclosed in their earnings release issued earlier this morning, their Board of Directors has recently increased the total amount available for participate repurchases to $200 million and extended the program for another year through March 2020.

    That concludes my prepared remarks and I will now swirl the convoke back over to Bob. Bob?

    Robert Hammer -- Chairman, President and Chief Executive Officer

    Thank you, Brian. I would dote to disburse a few minutes talking about Commvault travel and the modern products they announced during the show. They hosted their Annual Commvault travel User Conference earlier this month in Nashville. Registration exceeded final year's total with approximately 2,200 customers, prospects and partners in attendance.

    We announced a number of modern products and services including an exciting modern artery for customers to interface with their software called Commvault Command Center, modern backup and recovery as a service offerings and further expanded their portfolio of appliance offerings.

    We raised the industry benchmark for software interaction and data management with the announcement of the Commvault Command Center, which provides customers with a sole console for managing Commvault's complete portfolio of products across an entire enterprise on premise, cloud and cease point infrastructures.

    The Command headquarters is enhanced with the power of artificial intelligence and machine learning to provide easier to understand dynamic dashboard views of their customers' environments, much more comprehensive real-time reporting and unique learning capabilities, including the capacity to recall corrective actions.

    Broad-based security enables IT, Admin and cease users to absorb their own easily customizable dashboards. The Command headquarters can be deployed on premise or in the cloud and is available now.

    We announced a modern backup and recovery as a service offering to deliver Commvault's powerful simplicity for customers wishing to consume backup and recovery need as a service. They moreover announced two other backup services for virtual machines on AWS and Azure, and a backup service for aboriginal cloud application such as Microsoft Office 365 and sales force.

    These solutions will be available within cloud marketplaces for ease of acquisition and deployment. Customers can purchase the services as a Pay As You travel license or as a fixed term subscription. They moreover expanded the company's family of appliances with addition of two modern appliances. The modern appliances expand their offerings into a family of small, medium and big appliances that enable their customers to cost effectively scale from 10 terabytes to more than a petabyte or 10s of petabytes.

    The modern larger appliance is targeted at managed service providers and big enterprises featuring stellar technology with their Commvault Hyperscale software. The small offering takes a replete power of Commvault complete backup recovery into an appliance offering consummate for remote office and arm offices.

    All of their appliances can be used to seamlessly backup data on-premise or ride it directly to the cloud. Commvault user cloud resources natively, which has cost, performance advantages versus competitive offerings, which require the customer to install an instance of their appliance in the cloud.

    During the demonstrate Al and I moreover delivered a keynote presentation that outlined modern and exciting products and fresh ideas that meet today's unique data management challenges and opportunities for three main messages.

    One Commvault complete backup and recovery continues to set the modern industry benchmark for what it means to be complete and backup and recovery solutions. Advances in machine learning and AI will create a sales driving dote suffer that redefines how customers engage with their software. This is made feasible through the capabilities of the modern Commvault Command Center.

    Secondly, the simple SmartCloud highlighting Commvault's capacity to deliver a promise of the cloud faster to automated and orchestrated research management and control, we're now helping customers deliver on a multi-cloud environment as a honest extension of a modern on-premise data center.

    And lastly, they continue to better customers' lore of their data with a holistic enterprise wide view and they are delivering applications that allow them to act upon that knowledge. This comes to life through Commvault Activate.

    Innovation remains the hallmark behind Commvault's product vision and leadership. Commvault is applying leading edge AI and machine learning to deliver outcomes that customers value most. Commvault challenges the industry to anticipate more as they deliver truly complete backup and recovery.

    Before they wrap up, let me briefly update you on the search process for a modern CEO. As stated previously, the CEO Search Committee of their Board remains -- retained a leading search from May and has been identifying and actively interviewing candidates. The search process is well under artery and the search committee is making qualified progress.

    In closing, under Commvault further they made significant progress in the quarter, establishing a stronger foundation to better enable us to achieve more improved and predictable pecuniary performance both in the short and long-term. While they are not satisfied with their Q2 revenue performance, they are seeing strong early momentum from their Commvault further initiatives and are excited about their accelerating subscription revenue.

    We absorb made comprehensive operational changes over the final several months and these changes are now behind us. They are now focused on ongoing forward execution. The actions they took to align their cost structure at the rise of the year were evidenced in the 61% year-over-year EBIT improvement. Now that the foundation of Commvault further is in place, they believe they will perceive increased momentum as their channel strategy, go-to-market initiatives and alliance partnerships start to demonstrate positive traction.

    As I mentioned earlier, they are entering the second half of the year with a much stronger funnel. We'll be focusing their efforts on executing the key elements of Commvault further where they already absorb a solid already -- where they already absorb solid proof points of success.

    Our objective is to obtain certain they achieve their near-term pecuniary objectives while solidifying their Commvault further Foundation for FY '20. Their immediate focus is to achieve their Q3 revenue and earnings forecasts.

    Now let me swirl the convoke back to Mike. Mike?

    Michael Picariello -- MD of Americas Research

    Operator, can you please open the line for questions?

    Questions and Answers:

    Operator

    (Operator Instructions) Their first question comes from the line of Joel Fishbein of BTIG. Your line is now open.

    Joel Fishbein -- BTIG, LLC -- Analyst

    Good morning. I absorb one for Bob and one for Brian. I'll start with Brian. Hey Brian, thanks for the detail on the ride to the subscription model. What I'm just trying to understand is with a lot of these companies, you start this -- you perceive deferred revenue grow perquisite as you sign these deals, particularly larger ones and I'm just trying to understand why we're not seeing an uptick in deferred revenue with some of these subscription deals? And then I'll wait -- just query Bob the next question.

    Brian Carolan -- Vice President and Chief pecuniary Officer

    Sure. qualified Morning, Joel. So, as I described in the call, we're a bit unique when it comes to the application of ASC 606. When they sell their subscription software and license arrangements, they actually recognize that revenue upfront in the age of sale on the software portion.

    The only thing that goes into deferred revenue potentially would be the maintenance that's attached to that, just dote a generic arrangement under perpetual model. It's the selfsame nature of carve out for maintenance and uphold that gets deferred over the contractual term.

    So you don't perceive it demonstrate up in deferred. It actually shows up in age revenue that's been recognized. That's why we're going to try to point to other metrics such as ACV and repeatable revenue and try to give you qualified visibility into the traction that we're making on more repeatable revenue models.

    Joel Fishbein -- BTIG, LLC -- Analyst

    Would you absorb a backlog number then, dote in terms of total condense backlog or is that not a metric that might be meaningful?

    Brian Carolan -- Vice President and Chief pecuniary Officer

    That's really what, it's almost really, if you peruse at the ACV is a proxy for what backlog would be essentially.

    Joel Fishbein -- BTIG, LLC -- Analyst

    Okay. Great. And then Bob just for you, what gives you confidence that you can grow 9% next year? Obviously you're making a lot of changes perquisite now and I'm just -- what's giving you the confidence? Is it something that you're seeing out there specifically that you can point to?

    Robert Hammer -- Chairman, President and Chief Executive Officer

    Yes Joel, clearly we're seeing a substantial, I weigh in substantial uptick in funnel current in the enterprise just started to change. They saw it in the spring and it really accelerated through the summer in spite of disruption and continued as they entered Q3 in very big deals into the funnel and those deals were tied a trend in the industry for big enterprises to consolidate everyone their data management functions to deal with cost, cyber compliance and the cloud.

    And I believe their data management platform and the market is recognizing this, is in a class by itself in terms of delivering those capabilities. So that significant extend in big deal and current moreover gives us optimism for this current quarter and it's continued.

    And secondly, as I discussed in my remarks, they now absorb a much stronger distribution position and although that's going to recall a shrimp time to impact their earnings, we're starting to perceive that as well, so fortunately they got a massive significant upturn in their I'll convoke it core enterprise commerce and moreover that is moreover being driven by a much stronger colleague and alliance relationships in the enterprise.

    And from the midmarket standpoint, they are seeing qualified traction with their appliances in Commvault Complete and modern pricing. So the whole foundation at Commvault Complete was not try to obtain changes here. That's why it goes back a pair years to obtain fundamental changes in their products pricing, routes to market, alignment with those routes to market and a much more efficient cost structure.

    So internally, there's a lot of optimism underneath and I really believe we've done this the perquisite artery although it had some attended risks as they made these massive changes final quarter.

    Joel Fishbein -- BTIG, LLC -- Analyst

    Great, thank you.

    Operator

    Thank you. Their next question comes from the line of Aaron Rakers Wells Fargo. Your line is now open.

    Aaron Rakers, -- Wells Fargo -- Analyst

    Yeah, thanks for taking the questions as well. So I want to travel back to that final question and just understand the variables at play to underpin what looks to be a 17%-plus sequential extend in your implied software license revenue this quarter.

    I believe with that in mind, it would be helpful to understand exactly what degree of funnel pipeline growth that you've been seeing and what assumptions are you making in terms of converting those funnel opportunities into recognized revenue? I'm just trying to understand the basis for that extend conservatism sensible or what you perceive to drive that plane of sequential growth?

    Robert Hammer -- Chairman, President and Chief Executive Officer

    So the funnel growth Aaron is material and significant. I weigh in it's -- we're talking about a very major extend in the growth of funnel, particularly in big enterprises and particularly in the Americas and the assumptions we're making on funnel close what I convoke reasonable and Brian can retort that question.

    So we're not putting astronomical close rates on these areas of the funnel and then the other thing that goes along with this is their we've had predictive models here that are quite sophisticated and they've been quite accurate and their predictive analytics moreover peruse really qualified relative to the guidance they just provided.

    Brian Carolan -- Vice President and Chief pecuniary Officer

    Yeah, I believe just to result on with Bob's point, we're using fairly typical and average close rates applying that to the current quarter funnel. Again, they perceive a hale uptick in their enterprise deal funnel heading into this quarter, which we're pleased with. Although I did shriek that could be lumpy at times, we're still, we're pleased with that number in available funnel.

    Robert Hammer -- Chairman, President and Chief Executive Officer

    I think, Aaron, you saw a lot of this and this benign of validates what you saw it travel since you were there and what you heard on the floor.

    Aaron Rakers, -- Wells Fargo -- Analyst

    Yeah, and just a quick follow-up, I'm just curious, I believe final quarter Bob, in response to your question, you said that basically 98% I believe was the number that the total sales accommodate realignment efforts absorb been completed.

    As they peruse at the leverage that you're presenting to us going forward, I'm nosy of what else is there in terms of sales realignment or for that matter, sales headcount reduction efforts that should be anticipated in front of us if there are any?

    Robert Hammer -- Chairman, President and Chief Executive Officer

    I would shriek the bulk of this is behind us, but as they travel forward and bring the leadership in, which we've done, I believe over time they will continue to refine that model. So I believe there are additional benefits to be gained on efficiency, but those are incremental relative to what they just went through.

    Aaron Rakers, -- Wells Fargo -- Analyst

    Okay, thank you.

    Operator

    Thank you. Their next question comes from the line of Jason Ader of William Blair. Your line is now open.

    Jason Ader -- William Blair -- Analyst

    Thanks. Bob, thank you for the CEO search update. I guess my question on that is, five months into when you announced it and they haven't seen any announcements yet. So I guess why is it taking so long? Is there anything you can give us some more color on that?

    Robert Hammer -- Chairman, President and Chief Executive Officer

    I'll just obtain the remark that the search committee is making very qualified progress on the CEO search.

    Jason Ader -- William Blair -- Analyst

    Okay. just enough. And then over the final few years, we've seen a sequence of restructuring and pricing and packaging changes. I know that you guys are optimistic on the things that you're implementing perquisite now, but why should investors believe that this time is going to be different?

    Robert Hammer -- Chairman, President and Chief Executive Officer

    Well, the only validation is for us to hit the numbers. That's the only actual validation. everyone I can shriek is the funnel growth and the types of deals we're seeing now are in a different category than we've seen in their history. So a lot of the deals -- there is a lot of deals that are in the multiples of millions of dollars and it's both mainly in the Americas and AMEA, primary in multiple million this is convoke it $3 million, $4 million, $5 million, $6 million benign of deals and they're accelerating.

    So we've got that, that's actual and these deals are well scrubbed and they're poignant through the funnel well. In addition, we've never had the power of their product line for the bid market, where their appliances are complete and really getting their prices in line and we've eased that up with a lot more resources and focus.

    So I believe fundamentally, they didn't try to execute a quick fix here. They try to really understand the market dynamics and address it.

    In addition, let me be transparent about this, if you peruse at their platform for the cloud, a actual cloud platform to manage data and migrate it to the cloud and manage it in as a scale out platform and with Linux functionality, I believe there is a stronger platform in the industry than what they absorb here at Commvault.

    And we've been able to recall the next step and enhancing that platform for let's convoke it multiple exabytes scale, which they anticipate will be in the market sometime early next fiscal year. It's not that far away. So I believe technically we're in a really qualified position.

    I believe we're seeing the actual traction from the consolidation taking space in the enterprise across the Board for data management functions. I believe cyber is a astronomical driver of that and we've had really qualified success in taking major customers and they when they retrieve from major cyber attacks, they had most present at their travel Conference as a qualified illustration of that.

    Clearly, things dote GDPR compliance are playing a role of that and the cloud is becoming increasing principal and I don't believe there is any platform on the planet that allows customers to natively expend the cloud and everyone its aspects dote they have.

    So in spite of the changes the things they made, I believe the company is fundamentally in a extremely strong strategic position to accelerate growth and they absorb established a much more efficient cost structure to drive the bottom line.

    Jason Ader -- William Blair -- Analyst

    Thanks.

    Operator

    Thank you. Their next question comes from the line of Andrew Nowinski of Piper Jaffray. Your line is now open.

    Andrew Nowinski -- Piper Jaffray -- Analyst

    Okay. Thank you very much. qualified morning. So looking at slide 21, your assumptions for repeatable revenue growth suggest growth of just 17% in fiscal '19. I believe that decelerates to about 16% by fiscal '21, despite the fuse continuing to increase.

    Is that factoring in expense declines or why should they anticipate repeatable growth to basically top out at the fiscal '19 plane for just at the start of the transition and they haven't seen an impact from renewals yet?

    Brian Carolan -- Vice President and Chief pecuniary Officer

    Well, again we're trying to be a shrimp bit conservative with their guidance out there Andy. So I believe that we'll perceive an acceleration. By FY '21, will be the first meaningful year, where they perceive renewals start to happen, but they want to be reasonable with their expectations and so they actually perceive that happen.

    Andrew Nowinski -- Piper Jaffray -- Analyst

    Okay. just enough. And then in Europe, if I looked at the software revenue, it actually did decline about 17% this quarter despite the GDPR tailwinds. I guess, can you just give us an update on what's going on in Europe and other competitors, such as (inaudible) any pressure on your capacity to grow revenue in Europe there?

    Robert Hammer -- Chairman, President and Chief Executive Officer

    No. The EMEA team is consistently -- met their number or beat it and final quarter they basically took the field out for about six weeks as we're going through this whole transition. So in some sense, the quarter really didn't start till the 1st of August.

    As far as they know their expectations for Q3 are for us very, very significant quarter-on-quarter growth. So I believe what we've stated is accurate, that you can't draw any long-term conclusion from what happened final quarter, they really believe that the majority of that was disruption.

    Andrew Nowinski -- Piper Jaffray -- Analyst

    Okay, thanks, Bob.

    Operator

    Thank you. Their next question comes from the line of John DiFucci of Jefferies. Your line is now open.

    John DiFucci -- Jefferies -- Analyst

    Thank you. I absorb a question for Brian and then maybe a follow-up for Bob. So Brian thanks again for everyone that information on the transition of this subscription model, that's everyone really helpful. But when they peruse at that -- the utility revenue, I believe that's one piece that's going to cause some questions and I just want to obtain certain they understand that.

    Can you uncover us about what the size or the percentage or the revenue of that revenue is dote on an annual basis and if you can, what the annual retention of that utility revenue is even if it's on a customer basis that they can sort of ascertain how repeatable that is?

    Brian Carolan -- Vice President and Chief pecuniary Officer

    Sure. So the utility portion of the subscription revenue or repeatable revenue is actually -- it's relatively small in the august scheme of the total. I would shriek that their retention rate is extremely lofty on that.

    This is often a pay-as-you-go model based on usage. It's a quite sticky revenue stream that repeats typically every quarter and what we're trying to execute with the ACV metric is trying to annualize that as well, because it is on a hurry rate that is slightly predictable for us. And it's not -- the majority of the revenue is not even close to that. They didn't shriek what's the number is, but it is the smaller portion of that total.

    John DiFucci -- Jefferies -- Analyst

    Okay. Well that's a start. So thanks, it's small, but it does absorb a pretty lofty retention rates. So that's qualified to hear. Okay. And Bob listen, so just to travel along some of the questioning here, Commvault always had strong vision and products, sometimes getting to market has been a challenge, getting the products to market, but both -- both of those points, it's always been strong vision in compelling and cease product, but go-to-market execution seems to absorb been spotty over history.

    And you said this in this quarter, the disruption was greater than you expected and so we've heard dote in the field of dote higher than generic voluntary sales personnel attrition and it's -- so that seems dote the disruption is going to be -- it's going to persist here and I guess how execute you retrieve from that?

    I know you're trying to shift more to partners, but that moreover increases some risk to any benign of shift those right. So I guess to some of those questions around dote how execute you feel confident about 9% growth next year, is it the fact that you just don't need sales as much as you did before with the shift to more of a product or partner-driven go-to-market strategy, because even in that case I don't know, it just appear to be pretty principal here.

    Robert Hammer -- Chairman, President and Chief Executive Officer

    Now, let's be clear. Sales is noiseless really faultfinding and the surprise if you want to convoke it a surprise is we've always been strong in the enterprise and it drove a lot of their growth in their early years.

    And the enterprise for a pair of years shifted to buying point products, the next shiny box or whatever and that began shifting probably about six months ago, maybe a shrimp longer so a consolidated holistic play in the enterprise and that's really accelerated and those -- that whole sequence of, bear if I just went through on consolidation, cost, cyber compliance and I'll just mention offline here that we've automated so much of the processes within data management now.

    So we've taken a lead in automation both on premise and the cloud. So you've got this massive shift in the enterprise that is more holistic enterprisewide solutions that requires a really strong enterprise sales accommodate and I mentioned earlier, when they started Advance, but they wanted more leverage with distribution partners in the enterprise and now we've got the combination of those two.

    And then the mid-market, even though they shifted more resources to partners that's a process that is not going to befall in a day. It is happening as they speak, we're seeing in, but that engine will gain momentum quarter-on-quarter. So the retort is sales for their commerce is noiseless extremely principal and yes, there's no doubt when you obtain major changes dote this and these are fundamental. They didn't try to troop aid it and they did it quickly.

    You're going to perceive some disruption because it's not only structure that they changed. Its comp and a lot of other things and pricing. So I believe the pluses well outweigh the risks on the bottom, but I don't want to minimize that they won't perceive some attrition, disruption as they manage their artery through that. But I believe it will be manageable, because they got so many strengths now for their salespeople to hit their quotas and obtain a lot of money.

    John DiFucci -- Jefferies -- Analyst

    So it sounds dote sales or voluntary sales attrition from what we're hearing in the field, it sounds dote it's accurate, but there's so many things going on here that you believe you'd be able to offset that?

    Robert Hammer -- Chairman, President and Chief Executive Officer

    Yes, and peruse some of that goes on when you obtain major change.

    John DiFucci -- Jefferies -- Analyst

    Yeah, OK. Well thank you guys.

    Operator

    Thank you. Their next question comes from the line of Alex Kurtz of KeyBanc Capital Markets.Your line is now open.

    Alex Kurtz -- KeyBanc Capital Markets -- Analyst

    Yeah, thanks guys. qualified morning. I just want to result up on that final question, Bob, are you taking any specific actions with your top reps to incentivize them, specifically to abide on for the next pair of quarters as you travel through this transition, is there any specific actions you're taking? I know there is a lot of organizational changes here. I was wondering if there was a program around the sales accommodate around retention.

    Robert Hammer -- Chairman, President and Chief Executive Officer

    The retort is just in generic they are taking specific action in specific cases and trying to obtain it easier for their sales teams to rate their quotas. There is not a generic corporatewide action. There are specific actions in the field.

    Alex Kurtz -- KeyBanc Capital Markets -- Analyst

    Okay. And Bob just competitively in the US, especially I know there's been a lot of discussion final pair of earnings calls around a pair of emerging platforms that are competing in the channel, just any benign of update in what you're seeing quarter-to-date, year-to-date, any changes sequentially?

    Robert Hammer -- Chairman, President and Chief Executive Officer

    Well, in the enterprise, we're seeing a significant resurgence against everyone the competitors, legacy and the modern competitors in the midmarket and certain, I'll convoke lower scale deployment enterprise. They clearly perceive the modern converged guys in the market and they absorb a lot of momentum, but now you've got a Commvault with a replete product line and much stronger distribution, to deal with that I can say.

    When they Get into head-to-head competition now when they are there, they absorb a really lofty win rate, because it's just the breadth and depth of what we're doing in terms of -- and having products that are not only competitive, what they have, but travel artery beyond their capability, particularly in their capacity to ride data into the cloud to manage it in the cloud and manage it back for a data protection that everyone the automated and orchestration capabilities they absorb for debt test DRs and a class by itself now.

    So I believe we're in a really solid position technically and I believe we've done a lot to fundamentally change their -- and strengthen their go-to-market. So I believe internally they feel really qualified about everyone those although it was painful in the near term.

    Alex Kurtz -- KeyBanc Capital Markets -- Analyst

    Understood. And Brian, just final question for me, I believe historically you've called out the subscription headwind, but the dollars, I believe you've benign of projected what the delta would absorb been. Sorry if I missed it this earnings call, but absorb you called that out yet?

    Brian Carolan -- Vice President and Chief pecuniary Officer

    No, they didn't establish a number on that. I'd shriek it's fairly consistent with what they did in prior quarters. It's probably in that $3 million to $4 million range, the headwind.

    Alex Kurtz -- KeyBanc Capital Markets -- Analyst

    Great. Okay. everyone right, thanks guys.

    Operator

    Thank you. Their next question comes from the line of Eric Martinuzzi of Lake Street. Your line is now open.

    Eric Martinuzzi -- Lake Street -- Analyst

    Yeah, my question has to execute with pair of your key channel partners, just wondering sometimes I've grown num to the HPE, the annual HPE announcement or the annual NetApp announcement. Obviously given the shift to channel dependency here and away from the direct side, what absorb they done differently this year versus past years?

    I feel dote you've always had products that play well with them, but what are the one or two significant changes with those two key partners?

    Robert Hammer -- Chairman, President and Chief Executive Officer

    I'll recall HP and I'll let Al recall the NerApp. The dissimilarity is that they absorb what I convoke fully integrated online plays with HP. So when they travel to market, they travel to market with a solution that includes Commvault as far as solution and that's brand new.

    That agreement was completely modern agreement that was executed this summer and basically went into market over the final pair of months. They absorb significant deals in the funnel with them that are actual that will most likely close this quarter.

    In addition to that, for example, HB had 30 people at their colleague conference this year and they've had of storage that's working with us silhouette globally, everyone their major accounts with Commvault, so that's really qualified on the ground integration with HP. So they establish the resources, they absorb the aligned plays. We've got pricing. So they got I'd shriek extremely qualified alignment with them and they're putting a lot of resource behind their partnership.

    So I'm really confident about benign of where they are with them and we're moreover seeing it in their funnel growth. So it's radically different from anything we've had in the past with HP and its brand modern and I'll let Al recall the NerApp.

    Al Bunte -- COO

    Yeah, and I believe NetApp is similar to what Bob just said on HPE. Lots of programs, lots of campaigns, lots of sales initiatives, but I believe overall, one that Bob didn't talk about, it's applicable across everyone of their major particularly storage or infrastructure partners is their capacity to deal with software-defined secondary storage.

    Notably came out with their HyperScale both Appliance and reference architecture programs and I think, Eric and you would know this, we're seeing a major, major battleground developing for secondary storage. It's everyone predicted that there's going to be a huge amount of movement in this direction.

    We moreover believe in the current market that there is lot of vulnerability, to older technologies, expensive technologies and again the modern scale-out HyperScale environment is extremely compelling. So they perceive a number of again what I'd convoke historic storage suppliers wanting to participate in this benign of trend.

    Robert Hammer -- Chairman, President and Chief Executive Officer

    Yean and Al just made a really qualified point and HyperScale in HP's case, they drive that on their Apollo, whether Apollo servers. So it's not just appliances, it's on their own server infrastructure for secondary storage and concurrent with that, there is no doubt that their platform and its capacity to seamlessly manage data on premise and in the cloud across an enterprise is a major strategic edge versus anybody out there.

    Eric Martinuzzi -- Lake Street -- Analyst

    Okay. Because that's -- they don't want for people looking out your competitors moreover absorb programs with them. So I'm lighthearted to hear there is higher plane of executive commitment for you guys.

    Brian Carolan -- Vice President and Chief pecuniary Officer

    Higher plane of integration.

    Robert Hammer -- Chairman, President and Chief Executive Officer

    And to be transparent in HPE case and they execute absorb a competitor, in the enterprise they're focused with Commvault and the enterprise. The HPE play is mainly a big enterprise -- global big enterprise play.

    Eric Martinuzzi -- Lake Street -- Analyst

    Okay. Thank you.

    Operator

    Thank you. And I'm showing no further questions at this time. Ladies and gentlemen, thank you for participating in today's conference. This concludes today's program. You may everyone disconnect. Everyone absorb a much day.

    Duration: 74 minutes

    Call participants:

    Michael Picariello -- MD of Americas Research

    Robert Hammer -- Chairman, President and Chief Executive Officer

    Brian Carolan -- Vice President and Chief pecuniary Officer

    Joel Fishbein -- BTIG, LLC -- Analyst

    Aaron Rakers, -- Wells Fargo -- Analyst

    Jason Ader -- William Blair -- Analyst

    Andrew Nowinski -- Piper Jaffray -- Analyst

    John DiFucci -- Jefferies -- Analyst

    Alex Kurtz -- KeyBanc Capital Markets -- Analyst

    Eric Martinuzzi -- Lake Street -- Analyst

    Al Bunte -- COO

    More CVLT analysis

    Transcript powered by AlphaStreet

    This article is a transcript of this conference convoke produced for The Motley Fool. While they strive for their absurd Best, there may be errors, omissions, or inaccuracies in this transcript. As with everyone their articles, The Motley Fool does not assume any responsibility for your expend of this content, and they strongly embolden you to execute your own research, including listening to the convoke yourself and reading the company's SEC filings. please perceive their Terms and Conditions for additional details, including their Obligatory Capitalized Disclaimers of Liability.

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    What You need to Succeed in Cloud Environments | killexams.com actual questions and Pass4sure dumps

    Alexander Amies discusses the items you need to hurry applications and services successfully on the cloud. One of the architects of the IBM SmartCloud Enterprise platform, Alex is the primary author of Developing and Hosting Applications on the Cloud. From the author of 

    Many types of workloads can be hosted on the cloud. Making the perquisite choices for the best artery to hurry your particular workload on the cloud is faultfinding to success. One fundamental nature of workload is services that are consumed by other applications, and another nature is applications for cease users. The optimal approach depends on whether you're hosting an existing application or developing a modern application. In this article, I contend several types of cloud services and various approaches to hosting and maintaining them.

    Cloud services may exist at different levels:

  • Infrastructure as a Service (IaaS). Example: expostulate storage, where files can be stored in a cloud-based distributed file system.
  • Platform as a Service (PaaS). Example: Data storage, which provides a similar service to expostulate storage, but for a relational database.
  • Software as a Service (SaaS). Example: Applications such as customer relationship management systems.
  • If you procedure to host an existing application, you'll most likely need to provide the operating-level services for the application using IaaS, in order to be compatible with the requirements of running the application in a traditional environment. This will comprehend customizing a virtual machine image with your application installed, and running one or more virtual machine instances of that image.

    With an IaaS cloud, you noiseless absorb to provide monitoring, backup, failover, load balancing, and other uphold for your hosted application, which can be a lot of work. Some features in IaaS cloud offerings assist in this area, such as the storage availability areas in IBM SmartCloud Enterprise, which can aid with data backup. However, these are mainly tools for administration; as the IaaS cloud service user, you'll noiseless be accountable for making the proper user tools for backup, monitoring, and so on. Management of these utilities is where PaaS can help.

    PaaS provides a platform for running custom-developed applications. PaaS can redeem a lot on maintenance costs above the IaaS plane for production applications, where availability and reliability are important. One challenge, however, is that many PaaS offerings require applications to be developed with proprietary languages, APIs, and data stores. That requirement can be a problem if your organization doesn't absorb the skills to expend those proprietary technologies or doesn't want to be locked into a proprietary platform. Some PaaS services uphold standards such as Java 2 Enterprise Edition (J2EE) and SQL, which can obtain it feasible to host well-behaved J2EE applications on the cloud.

    You absorb the most license to build a cloud-centric application if you're developing a brand-new application. In that case, you can build a highly scalable application by using technologies such as MapReduce and NoSQL. In using those technologies, you need to absorb a specific mindset, which involves being tolerant of failure and relational inconsistencies. unavoidable kinds of applications, such as sociable networking applications, can be built with those technologies very successfully, but many applications cannot. In particular, commerce applications usually need relational consistency so that accounts balance, which means that NoSQL may not be preempt in those situations. This requirement can obtain it challenging to be successful hosting traditional commerce applications with cloud-centric technologies, including clusters based on MapReduce and NoSQL.

    Automation of cloud resource management can be relatively easy and provide the capacity to scale quickly via cloud-management application programming interfaces (APIs). The most favorite nature of API in cloud computing is the Representational condition Transfer (REST) API, because it can be used conveniently and securely over the Internet.


    IBM and AT&T Team to tender Enterprise Cloud Service | killexams.com actual questions and Pass4sure dumps

    News

    IBM and AT&T Team to tender Enterprise Cloud Service

    Both companies hope modern solution will allay enterprises' cloud adoption fears in regards to security, control issues..

    IBM and AT&T said that they will jointly sell their offerings -- astronomical Blue's compute and storage infrastructure, along with AT&T's network connectivity -- as an alternative to traditional infrastructure as a service cloud services.

    The offering, to be released early next year, will expend IBM's SmartCloud Enterprise+, the company's public IaaS-based cloud service, along with modern virtual private network technology developed by AT&T Labs. The modern VPN capability is designed to ensure secure connections and more trustworthy performance than Internet links provide, said Dennis Quan, vice president of IBM's Smart Cloud infrastructure.

    "We feel it will give clients a lot more control over security, privacy and performance and they believe will resolve some of the issues enterprises absorb with adopting cloud computing," Quan said in a telephone interview. Quan added the service is suitable for progress and testing as well as to hurry enterprise applications and even transaction oriented Web sites.

    Given the target audience of Fortune 1000 customers and the implied, though undisclosed improvement in performance, this so-called "breakthrough" modern VPN capability will further with a expense premium, though the companies aren't saying. moreover worth noting is the fact that both companies are members of the OpenStack effort. It is unclear when or if this service will uphold the OpenStack networking protocols. Quan would only shriek IBM is "deeply committed" to OpenStack.

    The modern VPN technology from AT&T automatically allocates network services to compute infrastructure, according to the announcement. This automation lets customers scale resources on require much faster than if provided manually, both companies said. The companies said they will tender service-level agreements, over 70 security functions and "high levels" of security embedded on both wired and wireless devices authenticated to a customer's VPN.

    The announcement had me wondering if AT&T is going to scale back its own public cloud infrastructure and platform services in favor of sourcing IBM's. In an e-mailed statement from an AT&T spokeswoman: "This is AT&T's most recent step in executing its strategy to deliver cloud services that meet the needs of a wide variety of users including big and medium enterprises, developers, and internet-centric businesses. They recognize that one size does not felicitous everyone when it comes to cloud, and perceive the opening to provide a managed alternative to AT&T Compute as a Service that pairs AT&T's virtual private network technology with IBM's SmartCloud Enterprise+ infrastructure to deliver a highly secure and elastic cloud tender to businesses."

    While these companies compete to some extent, it appears both stand to capitalize from working together. AT&T can provide direct links from private cloud and premises-based data centers to IBM SmartCloud Enterprise+ filling a gap in astronomical Blue's portfolio, while giving AT&T another option to deliver IaaS, even if the service is not AT&T's.

    It is not transparent how astronomical AT&T's enterprise public cloud service is but IBM's is presumably bigger. The company said it expects its cloud revenue to hit $7 billion by the year 2015. While the company hasn't disclosed its cloud revenues to date, IBM said it doubled final year over 2010.

    About the Author

    Jeffrey Schwartz is editor of Redmond magazine and moreover covers cloud computing for Virtualization Review's Cloud Report. In addition, he writes the Channeling the Cloud column for Redmond Channel Partner. result him on Twitter @JeffreySchwartz.



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    References :


    Dropmark-Text : http://killexams.dropmark.com/367904/12988484
    Blogspot : http://killexamsbraindump.blogspot.com/2018/01/just-study-these-ibm-c9560-515.html
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    Wordpress : https://wp.me/p7SJ6L-2np
    weSRCH : https://www.wesrch.com/business/prpdfBU1HWO000UTGT
    Calameo : http://en.calameo.com/books/004923526183243fd23e9
    zoho.com : https://docs.zoho.com/file/2xzfz1a337e82d39f4085a37df850257dde1a
    publitas.com : https://view.publitas.com/trutrainers-inc/pass4sure-c9560-515-practice-tests-with-real-questions
    Box.net : https://app.box.com/s/w7jgcaeypp01rp02g55w3y1ir1qhqirv
    speakerdeck.com : https://speakerdeck.com/killexams/once-you-memorize-these-c9560-515-q-and-a-you-will-get-100-percent-marks-1











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