Verizon Communications Inc. (NYSE:VZ) Launches Virtual Network Services
Verizon Communications Inc. (NYSE:VZ) has announced the launch of virtual network services that will make networking easier especially for businesses.
The launched services are called Virtual Network Solutions (VNS) and will be an expansion of data center virtualization which offers cost-savings, flexible provisioning and fast delivery to customers. Analysts from the industry believe that an expansion of software-based networking will attract an audience. Unfortunately, it also means that not every client will be ready for the new transformation. The telecommunication company is already aware of these facts. Its initial package offers multiple pricing and delivery models to its clients including SD-WAN services, WAN optimization, and security.
The company also plans to expand managed software from different firms including Juniper Networks, Inc. (NYSE:JNPR), Viptela, Riverbed Technology, Inc. (NASDAQ:RVBD),FortinetInc (NASDAQ:FTNT) and Cisco Systems, Inc. (NASDAQ:CSCO). Verizon will basically manage those services on behalf of these companies and perhaps even governments regardless of their size through its brand. Verizon is also pulling this move in the midst of a huge competition among service providers targeting businesses as the markets shift from proprietary networking hardware to commodity gear.
One of the best examples of such a competition is the rivalry between cloud services from the likes of Amazon.com, Inc. (NASDAQ:AMZN), Alphabet Inc (NASDAQ:GOOGL) and Microsoft Corporation (NASDAQ:MSFT). The same is happening in the telecommunications industry where firms have invested billions in developing out networks that are no longer taken seriously by users. These companies are now shifting their strategy to come up with services built on their networks so that they can create more revenues for the firms that operate these networks.
Verizon is, in this case, trying to venture deeper into business services courtesy of the new networking move. Victoria Lonker, the companyâs director of product and new business stated that the enterprise CIOâs plan is to concentrate less focus on the network so that more attention can be diverted towards improving the customer experience.
Verizon Communications Inc. (NYSE:VZ) Launches Virtual Network Services was originally published on Market Exclusive
