Cisco CEO to accelerate as-a-service offerings, cut costs $1B-plus
When you think of Cisco, the first thing that comes to mind is switches the size of a refrigerator, but on the company’s Q4 and year-end 2020 earnings call with financial analysts, CEO Chuck Robbins laid out a surprising transformation.For the full fiscal year, the company saw 51% of revenues come from software and services. It had also set out the goal for two-thirds of software sales to be sold as subscription. That rate has now reached 78%.[Get regularly scheduled insights by signing up for Network World newsletters.] And Robbins said Cisco isn’t done there. He says the company is reexamining its entire business model in the wake of changes to the work environment brought on by the COVID-19 pandemic. “We're even looking at how we deliver our traditional networking hardware as a service over time,” he told analysts. And he said much of it will be available by the end of the calendar year.To read this article in full, please click here