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MarketScreener Homepage  >  Equities  >  Nyse  >  VMware, Inc.    VMW

VMWARE, INC.

(VMW)
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VMware : Improving apps is a top business priority, experts say

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06/28/2020 | 11:59pm EDT

Improving applications should be a top priority for businesses since they are a key element of the customer experience, experts said.

New research from Forrester and VMware, has revealed that 82 percent of global executives believe that customer experience is directly tied to revenue growth, and that 88 percent believe that customer experience can be improved by enhancing their application portfolios.

In addition, 78 percent of executives consider improving their applications a top business priority. However, many organisations have admitted to facing difficulties, with 48 percent saying that it has been more than a year since they made any improvements to their application portfolios, while 34 percent have either not started or are unsure whether work has begun. As a result, 46 percent admit they are only moderately effective, or worse, at delivering positive customer experiences.

'An organisation's ability to adapt has most certainly been put to the test in 2020, and those that have found ways to use new apps to engage customers to maintain, if not boost, performance have become a differentiator,' said Rasheed Al Omari, principal business solutions strategist at VMware. 'To move at the speed required, a digital foundation remains essential; to create, run, manage, connect and intrinsically protect those apps critical to adapting to 2020's seismic business and employee shifts. The simpler it is to connect these dots, the more effectively businesses can drive relevant new services and customer experiences to adapt, survive and even thrive.'

When asked about the main reasons why application modernisation has not been prioritised, 76 percent of business executives pointed to a lack of funds, while 72 percent identified the difficulty of aligning strategy across multiple departments as a key reason. Also, 70 percent pointed to a resistance to change from IT teams. This stems from several IT-specific roadblocks such as too great of an existing investment in legacy applications, the difficulty of securing sensitive data, and a significant lack of staff expertise in cloud and edge computing.

Despite these challenges, the research also highlighted several improvements in the landscape, with 40 percent of executives noting that their enhanced portfolios identify increased revenue generation, while 37 percent said that they increased customer satisfaction, and 32 percent noted the acquisition of new customers.

© Pakistan Press International, source Asianet-Pakistan

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Financials (USD)
Sales 2021 11 518 M - -
Net income 2021 1 300 M - -
Net Debt 2021 289 M - -
P/E ratio 2021 47,3x
Yield 2021 -
Capitalization 58 755 M 58 755 M -
EV / Sales 2021 5,13x
EV / Sales 2022 4,38x
Nbr of Employees 29 450
Free-Float 19,1%
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Technical analysis trends VMWARE, INC.
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Mean consensus OUTPERFORM
Number of Analysts 30
Average target price 171,67 $
Last Close Price 140,21 $
Spread / Highest target 49,8%
Spread / Average Target 22,4%
Spread / Lowest Target -28,7%
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Managers
NameTitle
Patrick P. Gelsinger Chief Executive Officer & Director
Michael Saul Dell Chairman
Sanjay J. Poonen Chief Operating Officer-Customer Operations
Zane C. Rowe Chief Financial Officer & Executive Vice President
Baskaran G. Iyer Chief Information Officer & Senior Vice President
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