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Panzura Shows Continued Growth in Subscriptions, Accelerates Business in EMEA
Panzura, the leader in collaborative file and data management for global enterprises, just announced that its customer subscription revenue has grown by 237%, and its customers' global cloud data capacity had more than doubled in 2019. 

The company says that this significant year-on-year growth is due to accelerating demand for real-time cloud file collaboration among distributed teams, who need a fast path to cloud consolidation and business continuity in multi- and hybrid-cloud environments.

In response to Panzura's focus on growing its EMEA market share, it has stated that it has "bucked the trend of sequestered IT spending" in the region, which has resulted in an increase of its aggregate data capacity by 250%. This demonstrates that uncertainty over Brexit was by no means a stalling point to its progress.

"Last year, we experienced significant subscription revenue growth of 237% and 164% growth in customers' global cloud files. This is a validation of the appetite of the market, as well as the popularity and relevance of our global cloud file system and AI data management solutions," Patrick Harr, CEO at Panzura.

"As the majority of global enterprises migrate to hybrid- and cloud-native technology, operational speed, agility and their ability to empower a global workforce to collaborate and compete have become key drivers in their success," he adds.

It is a recipe that the company is getting right, echoing the sentiments of the analysts at Mordor Intelligence who forecasted that the global enterprise cloud file and collaboration market, valued at $26.1BN in 2019, will have grown at a CAGR of about 13.5% to be worth about $49BN by 2024.

This estimate included an overall average that suggests that over 80% of North American and European companies are employing a complex deployment model in the cloud, with 51% using a hybrid cloud and 21% implementing a multi-cloud strategy, with an average of five cloud providers.

By providing scalable, real-time cloud file collaboration, Panzura is ticking a lot of industry checkboxes, delivering on some of the business's most pressing concerns, namely real-time collaboration with virtual teams, business continuity, and data security. Concerns that have been top of mind even before the current global health crisis the world finds itself in.

EMEA Growth Explained

Speaking to Andy McGlashan, Managing Director, Panzura EMEA, he explained to VMblog that the company's relevance in the region is as a direct result of the desire of businesses across the continent to consolidate business processes. When coupled with a model where businesses operate across multiple countries, in different offices, with disparate locations, Panzura is helping them negate the risk of losing data or wasting time.

"Organizations (in EMEA) approach the way they store data very traditionally. Namely, they purchase a lot of disk storage, and then replicate and back it up across these systems. However, the costs have become crippling as the sheer volume of files continues to grow, which has sparked the interest in consolidating and reducing what would normally be on-site storage," states McGlashan.

Two examples of this success include British food manufacturer Premier Foods, and Swedish company AFRY, a multi-billion dollar global engineering, design, and advisory business. Both have realized an average of 70-80% in cost savings and a 90% reduction in on-site storage requirements.

Henrik Carlberg, Business CIO of AFRY, said: "With Panzura, we deployed one global cloud file system across all global sites, enabling engineers and designers to collaborate as one global team, dramatically increasing productivity and improving our bottom line."

If it is the simplification of previously cumbersome storage architectures a business is after, then Premier Foods is an excellent example of a company that has indeed got the recipe right.

"Panzura provided an elegant, flexible architecture that completely revitalized the way we work with file services, cutting out many layers of unnecessary complication and achieving our objective of users getting access to the files they need quickly. We now have a centralized IT environment, and our entire data center operations are cloud-based, where possible. Underpinning our ability to ensure that business can continue as usual when people cannot, or will not, come into the office," Gareth Byrne-Perkins, Head of Technology and Service at Premier Foods.

Continual Investment

Looking at the factors that have led to the company's growth in 2019, it made three key announcements. Firstly, it announced the release of its flagship solution Freedom Cloud Files 8. This delivers real-time global cloud file collaboration capabilities, multi-cloud mirroring and business continuity, military-grade security, and scalability to accommodate ever-expanding file data, which is doubling on average every two years.

Secondly, the launch of Vizion.ai is providing customers with access to what Panzura terms "a sophisticated, AI-powered global visualization, indexing, search, IP protection, and data analytics service for all data in the data center and multi-cloud environments." Lastly, it added to the mix ongoing commitment to developing and scaling its channel strategy by signing a strategic reseller agreement with IBM, and the announcement of a partnership with Intel to bring Vizion.ai to its customers and channel partners.

Speaking to the team at Panzura, they are exceptionally proud of their net- promoter score, which is currently sitting at 82, which they say is well above the software and data storage industry average, which is only 28. A score they state is a direct result of the company's focus on customer experience versus simple customer service.
Published Wednesday, March 18, 2020 7:15 AM by David Marshall
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