820-605 exam - Cisco Customer Success Manager (CSM) Updated: 2023 | ||||||||
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Exam Code: 820-605 Cisco Customer Success Manager (CSM) exam November 2023 by Killexams.com team | ||||||||
820-605 Cisco Customer Success Manager (CSM) Exam Number: 820-605 Exam Name : Cisco Customer Success Manager (CSM) Exam TOPICS The Cisco Customer Success Manager (DTCSM) v2.1 course gives you the confidence and competence to fulfill the Customer Success Manager (CSM) role successfully, helping your customers realize value from their solutions and achieve their business outcomes. The course offers experiential learning through practical exercises using situations based on real-life use cases and case studies. In this highly interactive course, you can practice and gain confidence in fulfilling core tasks using best-practice tools and methodologies while receiving feedback from the facilitator and your peers. This course is based on the concept of the customer lifecycle and how to optimize that journey, increasing the value realized by the customer, and maximizing your likelihood to maintain their loyalty and renew or expand their business opportunities. The course helps you prepare for the 820-605 Cisco® Customer Success Manager (CSM) exam. By passing this exam, you earn the Cisco Customer Success Manager Specialist certification. Objectives After taking this course, you should be able to: Describe the role of the Customer Success Manager Describe the tools that the Customer Success Manager uses to ensure customer experience Describe the lifecycle approach to customer experience Outline Transition to Subscription Economy Customer and Industry Trends Defining Customer Success and the CSM Role Impact of Customer Success on Business Practices Engaging the Customer for Success Engaging the Customer for Success Addressing Barriers Customer Success Management Activities Success Plan Elements Customer Success Management Activities Expand and Renewals | ||||||||
Cisco Customer Success Manager (CSM) Cisco Customer exam | ||||||||
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820-605 Dumps 820-605 Braindumps 820-605 Real Questions 820-605 Practice Test 820-605 dumps free Cisco 820-605 Cisco Customer Success Manager (CSM) http://killexams.com/pass4sure/exam-detail/820-605 Question: 201 Which definition of customer success is true? A. It is the business methodology of ensuring that customers achieve their expected and unexpected outcomes while using your product or service. B. It is a business methodology for increasing recurring revenues by minimizing the risk of churn while driving adoption and expansion. C. It is the business methodology of ensuring that customers are always on the latest software releases and subscription contracts so that they can focus on the core business activities that make them successful. D. It is a measure of the Net Promoter Score that results from a disciplined engagement of sales, services, marketing, and customer success teams working seamlessly to deliver a positive experience for the customer. Answer: D Explanation: Reference: https://www.gainsight.com/guides/the-essential-guide-to-customer-success/ Question: 202 The customer wants to Boost operational expenditure and reduce the C02 footprint of the organization. Which two business outcomes are critical to the company’s success? (Choose two.) A. sustainability B. credibility C. time to market D. business growth E. cost efficiency Answer: AE Explanation: Reference: https://www.tandfonline.com/doi/full/10.1080/17583004.2017.1386533 Question: 203 Which two actions should the Customer Success Manager take throughout the quarter to support their customer? (Choose two.) A. No action is necessary as long as the health index is green B. Observe the online image of the customer C. Review and update the success plan for ongoing activities D. Manage the service issues and escalations E. Join the sales and marketing strategy meetings Answer: CD Question: 204 The customer wants to Boost operational expenditure and reduce the C02 footprint of the organization. Which two business outcomes are critical to the company’s success? (Choose two.) A. sustainability B. credibility C. time to market D. business growth E. cost efficiency Answer: AE Explanation: Reference: https://www.tandfonline.com/doi/full/10.1080/17583004.2017.1386533 Question: 205 Which two actions are critical when communicating with executives? (Choose two.) A. Keep services as a primary topic B. Focus on the value achieved C. Incorporate the sales team’s plan D. Target executive priorities E. Focus on technical details Answer: BD Question: 206 From a Customer Success perspective, which reason to monitor your customer’s health is the most important? A. It provides the opportunity to address any changes in the customer’s experience or actions around the solution B. It allows the customer to identify unused licenses so they can be addressed via a service improvement plan C. Understanding your customer’s health directly enables renewals D. It gives the customer valuable insight so they can automatically renew critical on time Answer: C Explanation: Reference: https://www.gainsight.com/customer-success-best-practices/how-to-score-customer-health/ Question: 207 In an onboarding session, introductions to new stakeholders were made, new KPIs were collated, and desired use cases were discussed. Which step does the Customer Success Manager take next? A. Document the session, stakeholder interests, and metrics for leadership B. Create a success plan to be reviewed with the customer at the next review meeting C. Provide technical configuration for development D. Discuss new opportunities and new products to purchase Answer: A Question: 208 Which list of components of a Customer Success Quarterly Success Review is common? A. results from prior quarter, product roadmap, proposed marketing new products, and confirm goals for the next quarter B. results from prior quarter, agreed actions completed, benchmarking with the market, and confirm goals for next quarter C. results from prior quarter, services delivered, issues and open services cases, and confirm goals for next quarter D. results from prior quarter, cover roadmap and promote new products, and confirm goals for next quarter Answer: C Question: 209 A customer is coming up for renewal in 180 days for three solutions. One of the solutions has not been fully enabled. The other two solutions are in regular use in production. How should the Customer Success Manager address the one solution that has not been fully enabled? A. Contact the services team and request that they reach out to the customer to address the solution B. Make the renewals manager aware that the one solution is not fully implemented but the other two are fine C. Investigate why the customer has not enabled the solution and work with the sales and renewals teams to address the issue D. No action is needed because the customer will probably renew and you can address the issue after the renewal Answer: B Question: 210 Your customer’s business outcome is to drive employee efficiencies. Which key metrics measure this outcome? A. increase in new subscribers or increase in end users B. number of incidents reported or number of compliance issues C. reduction in headcount or operational support costs D. customer and employee feedback E. number of activities completed or increase in direct time Answer: E Question: 211 The Customer Success Manager notices that their customer has delayed going into production. Which action does the Customer Success Manager consider? A. Suggest that the customer replace their existing staff B. Provide the customer with a chargeable deployment service C. Re-enforce the time to value of the solution D. deliver the customer a discount on a future purchase Answer: C Question: 212 Which item should the Customer Success Manager focus on to enable the adoption of a software solution? A. KPI that will be improved by the new product solution B. current existing products that are being displaced by the solution C. current configuration guide of the product solution D. product use case that will achieve the desired outcome Answer: D Explanation: Reference: https://sixteenventures.com/improve-adoption Question: 213 Which of these is included in a success plan? A. confidential customer information B. customer business outcomes C. customer HR processes D. services cost Answer: BD Question: 214 Which definition of customer success is true? A. It is the business methodology of ensuring that customers achieve their expected and unexpected outcomes while using your product or service. B. It is a business methodology for increasing recurring revenues by minimizing the risk of churn while driving adoption and expansion. C. It is the business methodology of ensuring that customers are always on the latest software releases and subscription contracts so that they can focus on the core business activities that make them successful. D. It is a measure of the Net Promoter Score that results from a disciplined engagement of sales, services, marketing, and customer success teams working seamlessly to deliver a positive experience for the customer. Answer: B Explanation: Reference: https://www.gainsight.com/guides/the-essential-guide-to-customer-success/ Question: 215 What are two barriers of adoption in an organization? (Choose two.) A. new product sales motion B. lack of knowledge on solution C. organizational announcements D. implementation issues E. hiring practices Answer: BD Question: 216 What is a financial implication of churn? A. loss of revenue B. increased production C. reduced product utilization D. contract expansion Answer: A Explanation: Reference: https://www.clientsuccess.com/blog/true-cost-customer-churn-part-1/ Question: 217 You notice a decline over time in your customer’s usage of your product. Which action do you consider? A. Tell the customer a new solution will soon be available B. Carefully tell the customer to get more people to use your product C. Re-assess the customer’s business process and outline the capability of the solution D. Show the customer a comparison of the solution versus the competition Answer: C For More exams visit https://killexams.com/vendors-exam-list Kill your exam at First Attempt....Guaranteed! | ||||||||
Earning specialized certifications is a surefire way to advance your career in the IT field, regardless of industry or current career level. The right certification validates your skills and knowledge, which makes you more desirable to future employers who want to attract and retain the best employees. Below, we’ll explore the top IT certifications and share how to examine your goals to choose the right path forward. We’ve narrowed IT certifications into specific categories to help IT professionals assess what’s available and pursue the best certifications to show their willingness to learn and develop the in-demand career skills employers want. Best database certificationsÂDatabase platforms have changed greatly over the years, but database technology remains important for various applications and computing tasks. Available certifications for IT professionals include those for database administrators (DBAs), database developers, data analysts and architects, business intelligence, and data warehousing specialists, and other data professionals. Obtaining database certifications demonstrates an understanding of database concepts, design, implementation, administration and security. This can boost your credibility in the job market and show potential employers that you have the skills needed to work with databases. The best database certifications include the following: Best SAS certificationsÂSAS is one of the world’s leading firms for business analytics, data warehousing and data mining. Today, the SAS Global Certification Program offers 23 credentials across categories including foundation tools, advanced analytics, business intelligence, data management and administration. SAS programmers remain in high demand, with a quick search of job boards showing thousands of open positions. Obtaining SAS certification shows employers that you are proficient in the company’s popular suite of tools. Some of SAS’s certification programs include the following: Many professionals earn certifications to help navigate their career paths. According to the IT Salary Report, 92 percent of information technology professionals have at least one certification. Best Cisco certificationsÂCisco Systems is a market leader not only in networking and communications products, but also storage networking and solutions for data centers. Cisco offers a variety of certifications for IT professionals, ranging from entry level credentials to expert-level exams. These certifications prepare professionals for Cisco-related careers. A search of job boards reveals thousands of open positions for Cisco experts, underscoring the continued relevance of these skills. Some of Cisco’s certifications include the following: Best Dell certificationsÂDell Technologies remains one of the world’s leading computing companies. In addition to its well-known hardware lineup, Dell also offers solutions for networks, storage, servers, gateways and embedded computing, as well as a broad range of IT and business services. Becoming certified in Dell products can help make IT professionals competitive in engineering roles for server, virtualization, networking, systems, integration and data security. Additional roles include consultants, account executives, system administrators, IT managers and deployment managers. Best mobility certificationsÂIn the mobile era, it has become increasingly important for network engineers to support local, remote and mobile users, as well as provide proper infrastructure. The focus on application and app development now leans more toward mobile environments, requiring security professionals to thoroughly address mobility from all perspectives. Due to the fast-changing nature of mobile technology, not many mobility certifications have become widely adopted. However, a few of the top mobility certifications can help IT professionals stand out in this rapidly evolving field. If part of your job includes selling and implementing an IT solution, you may want to pursue the best sales certifications. You’ll show your organization that you’re willing to go above and beyond to reach sales targets. Best computer hardware certificationsÂAs remote and computer-based work has become more common, it’s more important than ever that businesses and individuals be able to maintain their hardware. While discussions about potential computer-related jobs often revolve around software work and coding, jumping into the IT field by becoming a computer technician is an excellent starting point. Today, thousands of hardware technician jobs are available across the country. Entering this industry becomes more accessible for those who acquire computer hardware certifications. These certifications can showcase your expertise and proficiency in the upkeep of computers, mobile devices, printers and other hardware components. Best Google Cloud certificationsÂIT pros with solid cloud computing skills continue to be in high demand as more companies adopt cloud technologies. Today, Google Cloud is one of the market leaders in the cloud computing space. Regardless of where you are in your IT career, engaging with certification programs can demonstrate your willingness to keep on top of rapidly evolving cloud technologies. To that end, Google has introduced a host of certifications for its cloud platform, including the following: Best evergreen IT certificationsIn the fast-changing world of technology, it can help to focus on certifications that have stood the test of time. “Evergreen” refers to certifications that remain popular year after year. The top evergreen certifications are based on accurate pay surveys in IT, reports from IT professionals about certifications they want or pursue the most, and those that appear most frequently in online job postings. Obtaining these credentials is one step toward ensuring that your skills remain relevant for a long time: Best IT governance certificationsÂIT governance provides structure for aligning a company’s IT with its business strategies. Organizations faced with compliance rigors always need experienced IT pros who can see the big picture and understand technology risks. This means certified IT governance professionals are likely to remain in high demand. Earning one of the following certifications proves a commitment to understanding the role of IT governance and its position in a company’s current and future success. Getting certified can validate your expert knowledge and lead to advanced career opportunities. Best system administrator certificationsÂAn IT system administrator is responsible for managing and maintaining the information technology infrastructure within an organization. The position demands sought-after career skills, ranging from configuring and maintaining servers and clients to managing access controls, network services, and addressing application resource requirements. If you’re in charge of managing modern servers, there’s a long list of tools and technologies that system administrators must master. Obtaining some of the most prominent system administrator certifications can demonstrate your mastery to potential employers. Best ITIL certificationsÂITIL, or Information Technology Infrastructure Library, was developed to establish standardized best practices for IT services within government agencies. Over the ensuing four decades, businesses of all types embraced, modified, and extended ITIL, shaping it into a comprehensive framework for managing IT service delivery. The ITIL framework remains the benchmark for best practices in IT service and delivery management, offering certification programs that cater to IT professionals at all levels. These training and certification courses ensure that IT professionals stay well-prepared for the ongoing evolution in IT service delivery management. There are four certifications in the ITIL certification program: Best enterprise architect certificationsÂAn IT enterprise architect is responsible for designing and managing the overall structure and framework of an organization’s information technology system. Enterprise architect certifications are among the highest that an IT professional can achieve; fewer than 1 percent ultimately reach this level. Enterprise architects are among the highest-paid employees and consultants in the tech industry. These certifications can put IT professionals on a path to many lucrative positions. The average worker earns over six figures annually. Some top enterprise architect certifications are listed below: To become an enterprise IT architect, you’ll need knowledge of systems deployment, design and architecture, as well as a strong business foundation. Best CompTIA certificationsCompTIA is a nonprofit trade association made up of more than 2,000 member organizations and 3,000 business partners. The organization’s vendor-neutral certification program is one of the best recognized in the IT industry. Since CompTIA developed its A+ credential in 1993, it has issued more than two million certifications. CompTIA certifications are grouped by skill set and focus on the real-world skills IT professionals need. Armed with these credentials, you can demonstrate that you know how to manage and support IT infrastructure. Best Oracle certificationsÂA longtime leader in database software, Oracle also offers cloud solutions, servers, engineered systems, storage, and more. The company has more than 430,000 customers in 175 countries. Today, Oracle’s training program offers six certification levels that span 16 product categories with more than 200 individual credentials. Considering the depth and breadth of this program — and the number of Oracle customers — it’s no surprise that Oracle certifications are highly sought after. Vendor-specific certifications address a particular vendor’s hardware and software. For example, you can pursue Oracle certifications and Dell certifications to become an expert in those companies’ environments. Best business continuity and disaster recovery certificationsBusiness continuity and disaster recovery keep systems running and data available in the event of interruptions or faults. These programs bring systems back to normal operation after a disaster has occurred. Business continuity and disaster recovery certifications are seeing a healthy uptrend as new cloud-based tools grow in popularity. While business continuity planning and disaster recovery planning have always been essential, they’re becoming more critical than ever — and IT certifications are following suit. Published 20 hours ago Submitted by Cisco Systems, Inc. ![]() Defense personnel are often unsung heroes—potentially putting their lives on the line to serve their communities. Giving back to those who choose to serve, or are transitioning out of the armed forces, is clearly the right thing to do. We’re proud that Cisco Networking Academy partners with organizations around the world looking after the unique needs of current and former military service people. Training-up down under Soldier On is a not-for-profit organization delivering support services that enable current and former Australian Defence Force personnel—and their families—to lead meaningful civilian lives. It does this by providing psychology support services, employment support, education programs, and community-building activities. Amy Cooper, CEO of Soldier On, is particularly aware of those needs—her father-in-law and partner are respectively former and current Australian Defence Forces personnel. Amy also sits on the Royal Commission into Defence and Veteran Suicide reference committee, which gives her an even greater insight into the challenges facing current and former veterans and their families. In Australia, a Royal Commission is a public hearing, independent of government, with broad powers to summon witnesses or seize documents and receive public submissions. The Royal Commission into Defence and Veteran Suicide was established in 2021 to inquire into systemic issues and risk factors relevant to veteran deaths by suicide, or other lived experience of suicide risk factors, and to provide a systemic analysis of the contributing factors. To date, the Commission has received more than 4,000 submissions. Unique challenges “One of the interesting pieces that have come out of the Royal Commission is the fact that around 80 percent of the veterans go on to have really successful civilian lives,” says Amy. “Unfortunately, 20 percent face really significant challenges.” She says this is significant because an increasing number of service people are transitioning out of the armed forces. “Those numbers have traditionally tracked around the 5,000 mark,” she says. “This year it’s anticipated it will be closer to 7,000 people making that transition, and that number has risen over the last three years.” “We’re also seeing trends with younger veterans discharging, so from an increased number from 25-year-olds right up to mid-30s, which changes the nature of the support that might be required for transitioning veterans.” Soldier On is supporting around 11,000 service people, veterans, and their families this year, with programs designed to aid with health and wellbeing, employment support, and education, as well as helping make connections within the community. Values-driven “What attracts people to serve their nation is often very values-driven,” says Amy. “It’s about being able to serve and support the community and often they’re looking for roles that have that same altruistic service or are an intrinsic value to them.” “Cisco Networking Academy is a strong part of our mission, particularly for our veterans and family members to thrive,” she says. “It is really focused on that positive aspect of being able to offer practical support through a range of education opportunities that the partnership provides… the courses have been a great opportunity to get many of our participants into the IT industry.” “The very nature of the program, being very skills directed, provides good options for participants as they balance serving, or starting to think about that transition time, which is often a very busy time with relocating,” says Amy. “I think that’s a tremendous investment in veterans and their families.” Helping veterans around the world Soldier On is not alone in its mission to help veterans transition into new careers. In the UK, TechVets is another Cisco Networking Academy partner that helps more than 20 people per month to start new careers in IT. TechVets was founded to address a fast-growing skills gap with the rise of tech, and a national issue with unemployment and underemployment within the British Military Forces community. And in the US, Cisco—which has consistently been recognized as a Top 10 Military Friendly Employer—has a range of veteran programs to assist veterans transitions into meaningful IT careers, including Onward to Opportunity, a program run by Syracuse University’s D’Aniello Institute for Veterans and Military Families (IVMF) to help service members, veterans, and spouses on their journey to meaningful employment after military service. IVMF is also a Cisco Networking Academy partner, dedicated to serving military personnel and part of CyberVetsUSA, a fully-sponsored “veterans-first” workforce development initiative, do amazing work helping veterans transition into in-demand tech jobs. Cisco also runs CX Apprenticeship Programs in the US and India to develop networking skills for non-traditional candidates leading to the opportunity to interview for the highly technical, customer-facing role of a Technical Consulting Engineer in Cisco’s Customer Experience organization. Around a third of the current cohort are veterans. Cisco Networking Academy success stories In France, Arnaud found he wasn’t academically-inclined and joined the Army, where he realized that his colleagues’ lives depended on reliable communications. After serving his country, Arnaud knew his future was in IT, and after undertaking Cisco Networking Academy training now works for a French ISP as a Network Engineer. Vanessa was in the Brazilian Army while doing postgraduate studies in Computer Networks. Unfortunately, that knowledge wasn’t required for her job. After leaving the Army she became interested in cybersecurity, eventually taking the CyberOps Associate course with Cisco Networking Academy and landing a job as a cybersecurity analyst. Michael joined the fire service to contribute to his community, but was called up twice to serve in Iraq. An injury ultimately ended his firefighting career, leading him to pursue a career in cybersecurity incident response. Through Cisco Networking Academy training, Michael has found a new passion in the field, driven by his commitment to service and continuous learning. Transition to tech with View original content here. ![]() Cisco has a variety of new partnerships and programs aimed at helping enterprises build AI-ready infrastructure. Cisco is taking a collaborative approach to helping enterprise customers build AI infrastructures. At its accurate partner summit, Cisco talked up a variety of new programs and partnerships aimed at helping enterprises get their core infrastructure ready for AI workloads and applications. "While AI is driving a lot of changes in technology, we believe that it should not require a wholesale rethink of customer data center operations," said Todd Brannon, senior director, cloud infrastructure marketing, with Cisco's cloud infrastructure and software group. As AI projects move from science projects in an organization's backroom to mission-critical applications, enterprise infrastructure and operations teams are being challenged because they are dealing with new workloads running on familiar infrastructure but with new requirements, Brannon said. "The idea is that we want to help our customers deploy and manage AI workloads efficiently, find that right mix of acceleration, and not over provision or leave stranded resources or create new islands of operations," added Sean McGee, cloud & data center technology strategist with Cisco. One of the ways Cisco intends to help customers is by offering a suite of validated designs that can easily be deployed as enterprise AI needs evolve. The company recently announced four new Cisco Validated Designs for AI blueprints from Red Hat, Nvidia, OpenAI, and Cloudera to focus on virtualized and containerized environments as well as converged and hyperconverged infrastructure options. Cisco already had validated AI models on its menu from AMD, Intel, Nutanix, Flashstack and Flexpod. The validated designs allow customers to use these models and fine tune what they want to do for their business, McGee said. Cisco is building Ansible-based automation playbooks on top of these models that customers can use with Cisco's Intersight cloud-based management and orchestration system to automatically inject their own data into the models and build out repositories that can be used in their infrastructure, including at the edge of the network and in the data center, McGee said. Cisco's Intersight package manages a variety of systems from Kubernetes containers to applications, servers, and hyperconverged environments from a single location. "Utilizing Intersight and our systems stack, customers can deploy and manage AI-validated workloads," Brannon said. "The message is that we don’t want our customers and partners having to completely rethink the operation side, even though they’re having to rethink some things on the GPU provisioning side for AI, for example," Brannon said. In addition, as Cisco gets feedback from its customers on AI-specific features or additional validated designs, it will augment Intersight with new features, Brannon said. Also, over time these models will evolve as more data is used to tune them, and customers can easily adjust them to fit the needs of their enterprise infrastructure, McGee said. "Our partners, too, can utilize these models to significantly expand their services. [They can] really deliver them a head start and relieve a lot of the engineering expense and time that they need to put these services together for customers." Cisco recently unveiled Data Center Networking Blueprint for AI/ML Applications that defines how organizations can use existing data center Ethernet networks to support AI workloads now. A core component of the data center AI blueprint is Cisco's Nexus 9000 data center switches, which support up to 25.6Tbps of bandwidth per ASIC and "have the hardware and software capabilities available today to provide the right latency, congestion management mechanisms, and telemetry to meet the requirements of AI/ML applications," Cisco stated. "Coupled with tools such as Cisco Nexus Dashboard Insights for visibility and Nexus Dashboard Fabric Controller for automation, Cisco Nexus 9000 switches become ideal platforms to build a high-performance AI/ML network fabric." Cisco has also published scripts so customers can automate specific settings across the network to set up this network fabric and simplify configurations, Cisco stated. PR Newswire SAN JOSE, Calif., Oct. 5, 2023 SAN JOSE, Calif., Oct. 5, 2023 /PRNewswire/ -- Cisco (NASDAQ: CSCO) today announced it is making changes to its product categories and customer markets to simplify and enhance its reporting to investors and other stakeholders. Effective Q1 FY 2024, Cisco will report its product and service revenue in the following categories:Â
The reclassified and previously reported product category revenue by quarter for fiscal 2021 through fiscal 2023, as well as other information is available on Cisco's Investor Relations website at https://investor.cisco.com/investor-relations/financial-information/Financial-Results/default.aspx Cisco will report its customer markets in the following categories effective Q1 FY 2024:
These revised product categories and customer markets will be used in the Q1 FY 2024 conference call scheduled for Wednesday, November 15, 2023. Cisco's reportable segments will continue to be based on its geographies which consist of the Americas, EMEA, and APJC. About Cisco Cisco (Nasdaq: CSCO) is the worldwide technology leader that securely connects everything to make anything possible. Our purpose is to power an inclusive future for all by helping our customers reimagine their applications, power hybrid work, secure their enterprise, transform their infrastructure, and meet their sustainability goals. Discover more at newsroom.cisco.com and follow us on X at @Cisco. Copyright © 2023 Cisco and/or its affiliates. All rights reserved. Cisco and the Cisco logo are trademarks or registered trademarks of Cisco and/or its affiliates in the U.S. and other countries. To view a list of Cisco trademarks, go to: www.cisco.com/go/trademarks. Third-party trademarks mentioned in this document are the property of their respective owners. The use of the word partner does not imply a partnership relationship between Cisco and any other company. This document is Cisco Public Information. SOURCE Cisco Systems, Inc. Shares of Cisco Systems Inc. fell more than 11% in extended trading today as the company warned it will likely miss analysts’ expectations in its fiscal second quarter by a wide margin. The company expects this to have a knock-on effect, and its forecast for the current fiscal year also came in low. The disappointing guidance came in the wake of a solid earnings beat. The company reported first quarter earnings before certain costs such as stock compensation of $1.11 per share, with revenue up 8% from a year earlier to $14.67 billion. The results were better-than-expected, with analysts looking for earnings of just $1.03 per share on sales of $14.61 billion. All told, Cisco reported a net income of $3.64 billion for the quarter, up from $2.67 billion a year earlier. Cisco said its problem is that it has experienced a notable slowdown in new product orders during the quarter. This is because many of its clients are currently busy installing and implementing products that were delivered recently, over the prior three quarters, Cisco Chief Executive Chuck Robbins (pictured) said in a conference call with analysts. During the COVID-19 pandemic, the company had been stuck with a backlog of unfulfilled orders caused by component shortages. But its supply chain constraints eased rapidly about a year ago as China exited its lockdown strategy, leading to a glut of product deliveries over the last four quarters. Now, customers have their hands full implementing all of those products. “Our customers and our sales organizations have been very clear with us over the last 90 days that this is the issue,” Robbins said, though he also admitted that sales cycles are still longer than is usually the case. According to Robbins, “customers are now taking time to onboard and deploy these heightened product deliveries,” hence the slowdown in new orders. He said it’s mainly larger enterprises, service providers and cloud customers that are facing these challenges, adding that the issue was “most pronounced in October.” On average, Cisco’s biggest customers are waiting to implement one to two quarters’ worth of shipped products, he added. Cisco had a good quarter, but is now suffering from its post pandemic high, when it was finally able to deliver pandemic orders it could not fulfill due to supply chain challenges. Now that it has fulfilled those orders, the demand has weakened as enterprises are implementing and the channel reducing inventories. The good news is all product lines are growing, which has not been too often the case, and Cisco delivered approximately 1B more in profit on roughly 1B more in revenue, which means Chuck Robbins and team have kept costs constant and EPS per share are up a quarter. Let’s see if this trends continues. Because of these customer issues, Cisco could only offer a much lower forecast than Wall Street analysts had been anticipating. Officials said they’re looking for earnings of between 82 and 84 cents in the second quarter, with revenue of $12.6 billion to $12.8 billion, implying a 7% decline from one year earlier. That compares very badly with the Street’s forecast of 99 cents pre share in earnings and $14.19 billion in sales. For the full year, Cisco is reducing its revenue forecast while bumping up its view on earnings. The company now sees full-year earnings of between $3.87 and $3.93 on revenue of $53.8 billion to $55 billion. Previously, it had forecast a range of $3.19 to $3.32 in earnings and $57.0 billion to $58.2 billion in revenue. In any case, the new forecast is not great, as Wall Street is hoping for earnings of $4.05 per share on sales of $57.7 billion. The after-hours stock decline masks the fact that Cisco delivered strong quarterly results, thanks to it finally being able to deliver pandemic-era orders that could not be fulfilled earlier, said Holger Mueller of Constellation Research Inc. “But now those orders have been shipped, it is faced with weakening demand as enterprise implement those products and the channel reduces inventories,” he explained. Charles King of Pund-IT Inc. said Cisco has been caught on one of those “damned if you do, damned if you don’t situations”, because it did a great job in recovering from the pandemic-related supply chain chaos and has gotten back its manufacturing mojo. However, he said many of its customers have been slower off the mark. “Many are still struggling to deploy and configure the new kit they ordered months ago, so you can’t really blame them for slowing or stopping orders to deal with the backlog,” King said. “But investors appear to be blaming Cisco anyway, for failing to live up to analysts’ consensus. That may be short-sighted, but no one ever said that life, let alone the markets, are fair.” In the longer term, Cisco’s prospects do look better. During the quarter, it announced that it intends to buy the data analytics and cybersecurity software giant Splunk Inc. in a bumper $28 billion deal, which would be its largest-ever acquisition. The move catapults Cisco, which is best known for its networking gear as well as other data center equipment, to the leading ranks of cybersecurity providers. Robbins said at the time the deal was announced that the combination of Cisco’s and Splunk’s data would have real value for enterprises, allowing them to “move from threat detection and response to threat prediction and prevention.” He said it will enable Cisco to become one of the world’s largest software companies. Besides its cybersecurity ambitions, Cisco has a lot of hope for artificial intelligence in the longer term. During the conference call, Robbins told analysts that his company believes it can win more than $1 billion worth of orders in fiscal 2025 for AI infrastructure from cloud providers alone. He said cloud providers are looking to move to “more of a standard, broad-based technology like Ethernet, where they can have multiple sources” to support AI networking workloads. Mueller said it’s also notable that Cisco is running a tight ship in terms of its business expenditures. “Investors can be pleased that all of Cisco’s product lines grew during the previous quarter, which has not been the case too often,” he added. “That allowed Cisco to deliver approximately $1 billion in profit on almost $15 billion in revenue. That shows Cisco has kept its cost base constant, resulting in increased earnings per share. Cisco needs to continue this trend.” The after-hours stock decline means that Cisco’s shares are now up just 12% in the year-to-date, trailing the wider S&P 500 index, which is up 17% for the year. Photo: Fortune GLOBAL FORUM/FlickrYour vote of support is important to us and it helps us keep the content FREE.One click below supports our mission to provide free, deep, and relevant content. 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THANK YOU Cisco (NASDAQ: CSCO) published its 2023 Consumer Privacy Survey, an annual global review of consumers’ perceptions and behaviors on data privacy. This year’s survey highlights how younger consumers are taking deliberate action to protect their privacy, as 42% of consumers aged 18-24 exercise their Data Subject Access Rights, compared with just 6% for consumers 75 and older. Many say they have lost trust in organizations because of their use of Artificial Intelligence (AI), and 50% of respondents look to the government to set rules and enforce privacy protections. The survey also provides early insights on Generative AI (Gen AI), revealing that only 12% of respondents identify as regular users. Artificial Intelligence and Privacy ConcernsFrom shopping to streaming services and to healthcare, 48% of survey respondents agree that AI can be useful in improving their lives. A majority of respondents (54%) said they are willing to share their anonymized personal data to help Boost AI products and decision-making. Nevertheless, 62% of surveyed consumers expressed concern about how organizations are using their personal data for AI today, with 60% saying that they have already lost trust in organizations because of their AI use. Organizations can implement measures to (re)gain customer trust, such as auditing products and solutions for bias, being more transparent and explaining how the AI works, ensuring human involvement, and instituting an AI Ethics Management Program.
Generative AI: The Privacy ContradictionThe survey also provides an early snapshot of the use of Gen AI and some of the potential risks and privacy challenges. Generative AI is still relatively new to most people. Over half (52%) of survey respondents said they were not aware of it. Of those that use Gen AI regularly (12%), only half indicated that they were refraining from entering personal or confidential information into Gen AI applications. It is notable that the other 50% may indeed be entering personal or confidential information. This is despite 88% of respondents indicating that they would be “Somewhat” or “Very” concerned if their data entered in Gen AI were to be shared. Young Consumers Championing Data PrivacyThis year, 33% of respondents qualify as “Privacy Actives”: they care about privacy, are willing to act to protect it, and have acted, for example by switching companies or providers because of their data policies or data sharing practices. Younger consumers are the most willing to take action to protect their privacy. Forty-two percent of consumers, aged 18-34, are Privacy Actives, a percentage that steadily decreases with age. The percentage of consumers requesting data deletions or change rose to 19%, up from 14% last year. Again, this is highly correlated with age: thirty-two percent of consumers aged 18-24 make data deletion or change requests compared to only 4% of older consumers. Public awareness of privacy laws continues to be relatively low with 46% of respondents aware of their country’s privacy law. Those who are aware of the law are more likely to feel they can adequately protect their data: only 40% of those unaware of their country’s law feel they can protect their data compared to 74% of those who are aware of the law. Sixty-eight percent of consumers aged 18-24 feel they can protect their data, and this gradually declines to 47% of consumers over age 65 saying so. Role of Laws and GovernmentsMany consumers look to the government to set the standard of care and enforce privacy protections. Half (50%) of respondents said national or local government should have the primary role in protecting data, whereas 21% said private companies should be primarily responsible for protecting data.
Consumers are split on the value of data localization. Most have heard about such requirements, and 76% indicated initially that data localization might be good. However, when considering the cost associated with it, thereby making products and services more expensive, only 44% were in favor of data localization. Brisbane-headquartered managed service provider Data#3 has been named Cisco Asia-Pacific, Japan and China (APJC) customer experience partner of the year. The company was honoured at Cisco's partner conference in Miami, where it also picked up the software partner of the year award for the sixth consecutive year. "We are very excited to be named APJC CX partner of the year," Data#3's national manager for annuity and customer success Amanda Toogood said. "This is fantastic recognition for the team within Data#3 who work tirelessly with our customers, helping them to maximise the value from their technology investments." "This award further solidifies the unique lifecycle approach we've developed with Cisco, which is a cornerstone of our strategy." The award recognises Data#3's commitment to delivering outstanding customer experiences in collaboration with Cisco. "Data#3 has been on this CX journey with Cisco for many years, and we are delighted to be recognised by Cisco in this area of joint strategic transformation," Data#3's COO John Tan said. "We've built a strong customer-centric business with Cisco to ensure our customers benefit from the value and outcomes made possible with Cisco technology." HERNDON, Va., Nov. 10, 2023 /PRNewswire/ -- ePlus inc. (NASDAQ NGS: PLUS – news) today announced it has been named the Global Customer Experience (CX) Partner of the Year at Cisco Partner Summit 2023. Cisco's Partner Summit Global Awards recognize top-performing partners across 21 categories demonstrating innovation in delivering solutions that help customers succeed in new ways. Awarded to partners for standout success and exemplary sales and service, Partner Summit Global Awards are the highest form of recognition for Cisco partners. "We have a services-led and customer-first approach to countless daily interactions where we provide innovative solutions that help our customers drive adoption and extract value from their investments in technology," said Darren Raiguel, chief operating officer of ePlus. "We are committed to enabling our customers to leverage technology and achieve their desired business outcomes. We spend the time to deeply understand our customers' challenges as well as their goals, always keeping their best interest at the core of what we do. We're honored to be recognized for our results-driven focus on behalf of our customers and the tremendous value we provide." "The theme at Partner Summit 2023 is 'Greater Together' and our Partner Summit Global Award winners are fantastic examples of our shared success and the power of partnering," said Jeff Sharritts, EVP and Chief Customer and Partner Officer at Cisco. "Congratulations to ePlus for being Customer Experience Partner of the Year for 2023. You have demonstrated your ability to deliver outstanding results, respond to customers' challenges, and lead in a dynamic competitive landscape." ePlus carries multiple Cisco Master Specialization Certifications across Data Center and Hybrid Cloud, Collaboration, Networking, Service Provider and Security. The company also has earned advanced architecture specializations in Collaboration, Advanced Enterprise Networks, Customer Experience, Data Center, Unified Contact Center Enterprise, Service Provider and Security, and holds specializations in Hyperflex, IOT, IOT Advantage, Umbrella for MSSPs, Webex Contact center, Collaboration SaaS, Environmental Sustainability, Full-Stack Observability Solution, Hybrid Work from Office Solution and Secure Access Service Edge Solutions. ePlus also carries Cisco Powered Service designations in Cisco SD-WAN, Meraki SD-WAN, Meraki Access, Webex Contact Center, Cloud Calling, Cloud Managed Security, Managed Business Communications, and Managed Security. Earlier this year, ePlus, as well as its London-based subsidiary, IGXGlobal UK Limited, successfully achieved renewal of the Cisco Gold Certified Provider Partner and Gold Integrator designations. For more information about Cisco solutions from ePlus, visit www.eplus.com/cisco. About ePlusinc. ePlus has an unwavering and relentless focus on leveraging technology to create inspired and transformative business outcomes for its customers. Offering a robust portfolio of solutions, as well as a broad range of consultative and managed services across the technology spectrum, ePlus has proudly achieved more than 30 years of success, carrying customers forward through adversity, rapidly changing environments, and other obstacles. ePlus is a trusted advisor, bringing expertise, credentials, talent and a thorough understanding of innovative technologies, spanning security, cloud, data center, networking, collaboration and emerging solutions, to organizations across all industry segments. With complete lifecycle management services and flexible payment solutions, ePlus' more than 1,850 associates are focused on cultivating positive customer experiences and are dedicated to their craft, harnessing new knowledge while applying decades of proven experience. ePlus is headquartered in Virginia, with locations in the United States, UK, Europe, and Asia‐Pacific. For more information, visit www.eplus.com, call 888-482-1122, or email info@eplus.com. Connect with ePlus on LinkedIn, Twitter, Facebook, and Instagram. ePlus, Where Technology Means More®. ePlus®, Where Technology Means More®, and ePlus products referenced herein are either registered trademarks or trademarks of ePlus inc. in the United States and/or other countries. The names of other companies, products, and services mentioned herein may be the trademarks of their respective owners. Forward-Looking Statements This press release contains information about management's view of ePlus' future expectations, plans and prospects that are not historical facts and may be deemed to be "forward-looking statements." genuine and anticipated future results may vary materially due to certain risks and uncertainties. Certain risks and uncertainties that may affect such "forward-looking statements" are detailed in our reports filed with the Securities and Exchange Commission, especially under the heading "Risk Factors". All information set forth in this press release is current as of the date of this release and ePlus expressly disclaims any duty or obligation to update this information, except as may be required by law.
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