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C2010-515 IBM SmartCloud Application Performance Management V7.7 Fundamentals

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C2010-515 exam Dumps Source : IBM SmartCloud Application Performance Management V7.7 Fundamentals

Test Code : C2010-515
Test denomination : IBM SmartCloud Application Performance Management V7.7 Fundamentals
Vendor denomination : IBM
: 50 actual Questions

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IBM IBM SmartCloud Application Performance

IBM DevOps options to accelerate pile of cell and Cloud applications | killexams.com actual Questions and Pass4sure dumps

cell computing and cloud technologies are two improbable trends with the expertise to assist corporations to turn into more aggressive. due to this, IBM relies on DevOps–an integrated application distribution philosophy, protecting the entire life cycle of the construction technique, from planning to the advent, delivery and contrast.

The train is to permit “continual birth” of software options enabling groups to grasp skills of market opportunities and enhanced meet customer demands. enhancing progress techniques for cloud applications is crucial for groups. however, common approaches to application pile can yield the adjustments but improvements grasp weeks and to succeed in a changing marketplace, businesses can't beget the funds for to lengthen the time.

That’s why IBM has created these options to enrich and streamline these tactics. And prerogative here’s how the mega-huge world service provider seeks to Do this:

Cloud solutions

The enterprise continues to add analytical capabilities to its options in the cloud. most up-to-date of those is the Log evaluation, allotment of IBM SmartCloud Analytics. Log analysis can carry the vigor of automatic evaluation to data of IT property from the terabytes of unstructured statistics created from infrastructure and applications. IBM SmartCloud Monitoring application perception is a solution that helps agencies video pomp the performance and availability of purposes hosted on a cloud in precise time.

The other providing is the elevated IBM SmartCloud application capabilities. builders can expend SmartCloud application services to set up and exploit applications written within the php programming language the usage of Zend Server 6. The assist for this language makes it less complicated for developers to create indigenous purposes within the cloud.

“application is the invisible thread driving transformations in organizations of everyone industries and sizes,” referred to Kristof Kloeckner, standard manager IBM Rational software.  “As agencies and the dynamic markets by which they behavior enterprise turn into extra complicated, it is crucial that they undertake a DevOps routine to perpetually start software-driven improvements to their customers.”

cellular options

Enabling efficient construction and administration of cell apps, IBM at the start of the 12 months launched MobileFirst initiative. As a allotment of the initiatives, IBM has launched modern tools to assist groups carry enhanced mobile purposes faster and at lessen can charge.

Now extending the inventiveness, the company delivered IBM Rational verify Workbench. With this answer, builders can listing, regulate, reproduce and esteem the search for at various eventualities to automate hundreds (even thousands) of exams of a mobile equipment. they're going to also breathe in a position to virtualize and examine parts of the software that beget not been achieved yet.

IBM Worklight & IBM SmartCloud software features is a free carrier that enables builders to create functions and installation them in IBM SmartCloud with IBM Worklight technology. businesses can help cellular applications rapidly avoiding early charges within the venture management the usage of this provider.

IBM Joins palms with AT&T to boost MobileFirst strategy

IBM and AT&T beget introduced a partnership to aid groups to enhance immoderate performing cell purposes. the integration of each organizations’ technologies will assist enrich the trying out technique and analysis of the purposes and the battery life of cell contraptions, giving businesses the time to yield adjustments and enrich efficiency.

As a allotment of the IBM MobileFirst method, cellular builders can verify the efficiency of their company cell applications on any wireless community and help their performance.

the integration of AT&T’s application resource Optimizer (ARO) with IBM’s application pile solution for Collaborative Lifecycle management (CLM) tackles finding and fixing efficiency and vigour bottlenecks of apps. ARO can assist developers create apps that preserve battery existence, load pages faster and devour community materials in a better way, everyone of which expand the customer experience.

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IBM, Infor associate to deliver commercial enterprise Apps on IBM SmartCloud | killexams.com actual Questions and Pass4sure dumps

First name: last identify: email address: Password: confirm Password: Username:

Title: C-level/President supervisor VP staff (affiliate/Analyst/and so forth.) Director

function:

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IBM Expands Collaborative utility pile options to Cloud, mobile technologies | killexams.com actual Questions and Pass4sure dumps

IBM Expands Collaborative software construction solutions to Cloud, cell applied sciences

solutions support progress groups carry application with best, velocity, agility.

note: ESJ’s editors carefully opt for supplier-issued press releases about modern or upgraded items and features. we've edited and/or condensed this liberate to highlight key facets but yield no claims as to the accuracy of the vendor's statements.

IBM announced quite a number modern software solutions as a way to assist valued clientele create software functions quicker and with bigger best throughout assorted construction environments including cloud, cell, and knotty methods.

the rush towards normally evolving systems necessitates consistency and collaboration throughout the complete utility actuality cycle and provide chain. often, utility construction groups are struggling to answer enterprise expectations because of a lack of challenging records. there is a necessity for shared information and a constant context across organizational boundaries, exposed through limpid and honest metrics.

To handle these challenges, IBM is introducing a modern edition of its built-in utility Collaborative Lifecycle management (CLM) respond with prolonged design management capabilities. CLM is constructed on IBM’s open progress platform, Jazz, and brings collectively IBM Rational necessities Composer, IBM Rational crew live performance, and IBM Rational best supervisor in a single solution. the modern CLM application ensures that application design is built-in with the leisure of the utility software pile actuality cycle. progress teams are actually in a position to seamlessly collaborate on the design and construction of application with key stakeholders from across the company.

DevOps in the Cloud

In a regular organization, it can grasp weeks or months to deliver a progress trade because of infrastructure and configuration, checking out and manual deployment, and a scarcity of collaboration between pile and operations teams. continuous software delivery within the cloud makes it practicable for purchasers to normally and automatically deliver changes across the enterprise utility birth life cycle, spanning development, application checking out and operations.

With a “DevOps” approach within the cloud, customers can gash back time to market and automate changes in development, search for at various and construction. IBM is helping cloud start, building, and operations with modern solutions, together with:

  • IBM Rational solution for Collaborative Lifecycle management on IBM SmartCloud commercial enterprise offers an agile cloud computing infrastructure as a provider (IaaS) fabulous for pile and test that's designed to supply swift entry to cozy, business-type virtual server environments.
  • The IBM SmartCloud utility features pilot offers a pay-as-you-go provider that coordinates actions across enterprise and paraphernalia requirements, design, construction, build, check, and start.
  • IBM SmartCloud for executive progress and test Platform as a provider gives you industry-main Rational tools for executive corporations in a tremendously scalable, elastic computing atmosphere for businesses that want the cost discount rates of a shared cloud environment mixed with Federal assistance safety administration Act (FISMA) protection.
  • IBM SmartCloud continuous delivery managed beta via a hosted sandbox in the cloud, provides a palms-on-adventure of DevOps capabilities enabling accelerated code-to-set up via automation, standardization of repeatable processes, and more suitable coordination and visibility amongst construction, examine and operations groups.
  • IBM SmartCloud software efficiency administration application offers complete monitoring and management capabilities that enable construction and operations authorities to gash back costly troubleshooting. It additionally gives free resources to headquarters of attention on constructing modern innovations and features for clients. With this tighter integration, application concerns can also breathe discovered and resolved quicker and proactively avoided to steer limpid of future carrier disruption.
  • business mobile construction

    IBM Rational CLM has additionally been prolonged to the IBM cell groundwork platform for centralized code sharing and disbursed cellular utility building. presently, fragmentation of cell instruments, equipment, and structures complicates delivery of cellular purposes that usually beget quicker time-to-market and extra commonplace releases.

    The IBM enterprise cellular construction respond helps teams apply an conclusion-to-conclusion life cycle administration system to design, increase, search for at various and install cell applications whereas enabling seamless integration with industry returned-conclusion systems and cloud services via cellular-optimized middleware.

    The commercial enterprise mobile construction respond brings together a brace of choices that optimize the coincident Worklight acquisition in addition to IBM commercial enterprise progress environments, including:

  • Rational respond for Collaborative Lifecycle management
  • IBM Worklight Studio 5.0 and IBM Worklight Server 5.0
  • Rational software Developer v8.5
  • Rational Developer for paraphernalia z v8.5
  • Rational Developer for vigour methods v8.5
  • IBM software middle 5.0
  • Android SDK and Emulator
  • eco-friendly Hat expertise in modern IBM search for at various Automation options

    cutting-edge purposes and manufactured items attach additional pressures on pile groups to determine inventive ways to obtain agility and expand the cost that application updates are delivered for testing. IBM has integrated the lately received green Hat expertise with IBM Rational CLM to assist handle the challenges of checking out extremely integrated and knotty methods and simplify the introduction of virtual search for at various environments. modern IBM check automation solutions expend virtualized check environments and can gash back prices associated with the setup, protection and tear down of infrastructure associated with typical trying out or cloud primarily based implementations.

    For extra counsel, consult with ibm.com/application.


    C2010-515 IBM SmartCloud Application Performance Management V7.7 Fundamentals

    Study guide Prepared by Killexams.com IBM Dumps Experts


    Killexams.com C2010-515 Dumps and actual Questions

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    C2010-515 exam Dumps Source : IBM SmartCloud Application Performance Management V7.7 Fundamentals

    Test Code : C2010-515
    Test denomination : IBM SmartCloud Application Performance Management V7.7 Fundamentals
    Vendor denomination : IBM
    : 50 actual Questions

    high-quality supply modern exquisite actual test questions, accurate solutions.
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    i used to breathe trying to accept prepared for my C2010-515 grasp a search for at that changed into across the corner, i discovered myself to breathe lost inside the books and wandering far far from the actual factor. I didnt comprehend a unmarried word and that changed into truely regarding because I had to prepare as quickly as feasible. Giving up on my books I determined to register myself on this Killexams.com and that turned into the first-class decision. I cruised thru my C2010-515 grasp a search for at and was able to accept a decent rating so thanks very an foul lot.


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    Commvault Systems, Inc. (CVLT) Q2 2018 Earnings Conference summon Transcript | killexams.com actual questions and Pass4sure dumps

    Image source: The Motley Fool.

    Commvault Systems, Inc.  (NASDAQ: CVLT)Q2 2018 Earnings Conference CallOct. 30, 2018, 8:30 a.m. ET

    Good day, ladies and gentlemen, and welcome to the Second Quarter 2019 Commvault Earnings Conference. (Operator Instructions) As a reminder, this conference summon is being recorded.

    I would now dote to interlard your host for today's conference, Mr. Michael Picariello, Director for Investor Relations. Sir, you may begin.

    Good morning. Thanks for dialing in today for their fiscal second quarter 2019 earnings call. With me on the summon are Bob Hammer, Chairman, President and Chief Executive Officer, Al Bunte, Chief Operating Officer and Brian Carolan, Chief monetary Officer.

    Before they begin, I'd dote to remind everyone that statements made during this call, including in the question-and-answer session at the conclude of the call, may involve forward-looking statements, including statements regarding monetary projections and future performance. everyone these statements that relate to their beliefs, plans, expectations or intentions regarding the future are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and are based on their current expectations. Actual results may differ materially due to a number of risks and uncertainties, such as competitive factors, difficulties and delays inherent in the development, manufacturing, marketing and sale of software products and related services and common economic conditions. For a discussion of these and other risks and uncertainties affecting their business, delight descry the risk factors contained in their Annual Report in configuration 10-K and their most recent quarterly report in configuration 10-Q and their other SEC filings and in the cautionary statement contained in their press release and on their website. The company undertakes no responsibility to update the information in this conference summon under any circumstance. In addition, the progress and timing of any product release as well as features or functionality remain at their sole discretion.

    Our earnings press release was issued over the wire services earlier today and it also has been furnished to the SEC as an 8-K filing. The press release is also available on their Investor Relations website.

    On this conference call, they will provide non-GAAP monetary results. The reconciliation between the non-GAAP and GAAP measures can breathe establish in Table 4 accompanying the press release and posted on their website.

    Commvault adopted the modern revenue standard ASC606 on April 1, 2017. Their adoption was done on a retrospective basis, everyone prior periods in their monetary statements beget been adjusted to comply with the modern rules.

    As a result, the results and growth percentage they will dispute today are on a comparable basis using the modern rules. everyone references to software revenue are inclusive dollar amounts are a percentage for both software and products revenue as disclosed in their P&L.

    Today's live webcast will also involve a slide presentation as allotment of Commvault prepared remarks to facilitate updates on their Commvault foster initiatives. These initiatives involve an update on their transition to subscription revenue models, as well as their recent operational review. The slides also cover their announcement of modern multi-year revenue and operating margin targets. If you've not done so already, I would suggest logging into the webcast now to view or download a copy of the slides.

    Please also note that in order to best descry the slides, they suggest enabling complete screen slide mode within the webcast. In addition, the slides can also breathe downloaded from the Commvault website under the Investor Relations page.

    This conference summon is being recorded for replay and is being webcast and an archive of today's webcast will breathe available on their website following the call.

    I will now turn the summon over to Bob.

    Thank you Mike, and ample morning, everyone and thank you for joining their fiscal second quarter FY '19 earnings call. On today's summon they will dispute their fiscal 2019 second quarter results, their multi-year industry model transformation to deliver shareholder value called Commvault Advance, including an update on the progress they beget made to accelerate their transition to subscription revenue models, the results of their recent operational review, which includes the announcement of modern multi-year revenue and operating margin targets, and an update on their share repurchase program. Let me briefly summarize their Q2 monetary results.

    Software and products revenues were down 3% year-over-year. Total revenues were up 1% year-over-year, EBIT margin was 14.8%, up 550 basis points year-over-year, EPS was $0.40 per share versus $0.21 in the prior fiscal year.

    Our EBIT margin improvement was driven by cost efficiencies, implemented as allotment of their Commvault foster initiatives. Later in the presentation, they will talk about their modern revenue metrics that will provide greater clarity to investors on their subscription model transition, which has been accelerating over the last several quarters.

    In Q2, their subscription revenue represented the highest harmony of software revenue in their history and subscription annual compress value or ACV, which they will define later in the call, accelerated its year-over-year growth to over 90%.

    As a reminder, last quarter they were implementing a major corporatewide transformation called Commvault Advance. delight grasp note that Commvault issued a press release this morning, outlining the significant progress they beget made since announcing Commvault foster in May.

    The goals of Commvault foster are to establish a strong foundation to help revenue, while at the very time achieving much improved operating margin leverage. The implementation was a culmin turning to their equilibrium sheet and cash flows in the first quarter cash and short-term investments were partially 1.1 billion ation of a brace of years of endeavor across products, pricing, a reorganization of their sales and distribution functions and the establishment of a much stronger, more efficient routes to market.

    We believe that their second quarter software and products revenue reflected the temporary disruption from the significant Commvault foster related changes they made during the quarter, including reorganization of their sales and distribution organizations, which in allotment shifted a significant percentage of sphere resources to support their channel and alliance partners and major simplification of both products pricing to yield their solutions easier to both sell and buy.

    We acted swiftly to implement these changes and while there was a higher flat of disruption than they had anticipated, the most significant changes are now largely completed and they are focused on go-forward execution throughout the residue of FY 2019.

    Based on the early results of these changes, they are already seeing improved momentum and beget seen a sharp expand in funnel growth, strong order stream in October and solid forecast from the field. However, given the early stage of their transformation, they arrangement to remain conservative with their near-term outlook until they can validate the positive churn of the industry with solid quarter-on-quarter revenue growth.

    We believe the implementation of Commvault Advance, although challenging in the near term, puts us in a much stronger position to grasp edge of the major shift in the market and significantly improves their aptitude to execute their strategy and drive revenue and earnings growth.

    Commvault foster leverages their strength and shores up their weaknesses. Specifically, they believe Commvault has a leading technology to enable big enterprises to consolidate data management to deal with the critical issues related to cost, cyber compliance in the cloud, which I summon the 4Cs.

    As data scale increases, they are also well on their path to their exit by scale in their platform. They now beget simplified software solutions, pricing, packaging and appliances to deal with the shift to simplification in both the enterprise and the midmarket, particularly with their converged appliances and Commvault complete data management.

    While they are the limpid technology leader and migrating and managing data in the cloud with IBM's $35 billion acquisition of Redhat this weekend, there will breathe additional focus on cloud and Commvault is well positioned to grasp edge of that with the leading data management platform in the industry.

    We are leading the industry in data analytics with their know your data solutions with Commvault Activate. As allotment of Advance, they are laser focused on improving their aptitude to accelerate revenues through a much stronger sales and distribution. These efforts beget been further bolstered with the recent hiring of several sales leaders with strong distribution focus.

    Commvault has been focused on making fundamental changes to their products and their businesses that they believe will deliver sustained revenue growth and profitability over both the near term and the long-term.

    These industry model optimization changes that will deliver shareholder value involve an enhanced and expanded and simplified product portfolio, improved distribution leverage, a transition to subscription pricing and aligning their cost structure with their revenue growth.

    So let me talk about their product portfolio. As I just mentioned, a key constituent of Commvault foster is to create and enhance expanded and simplified product portfolio, which includes product innovations that yield it easier for customers to install and expend their products and changes to packaging and pricing structures to yield a dramatically easier for their sales teams and partners to sell and customers to buy their products.

    Commvault now has four distinct, simply powerful offerings. One is Commvault complete backup recovery, which is the consolidation of what was previously 20 SKUs. Commvault HyperScale Software and Appliances, just converged data management protection, combined with scale-out secondary storage.

    Thirdly, Commvault orchestrate, which is fully automated cataclysm recovery, data test and data migration, particularly in the cloud and fourth, Commvault Activate, which is designed to animate customers know their data and then determine and extract modern industry insights from data under management whether that data is on-premise or in the cloud.

    All these products beget built upon a common software and technology platform they summon the Commvault Data Platform.

    Another key strategy is to drive significantly improved distribution leverage through a combination of products, better aligned to routes to market, which involve their appliances in Commvault Complete, reallocation of sales resources from direct selling to supporting their partners and the expansion of their alliance relationships.

    During the first half of fiscal '19 they shifted a material portion of their sales and marketing resources from direct sales to supporting their channel and strategic partners and in strengthening their strategic relationship with key partners, including HPE, net Cisco, Microsoft and AWS.

    We expanded their partnership with HP. Commvault backup recovery software will now breathe fully integrated with the HPE store once appliances. The integration will allow backup data to breathe moved natively to the cloud or back to on premise. They hope this integration to breathe available in November.

    In addition, they launched sales programs for Commvault Complete and HyperScale, which are now included HPE's global price, which continue to align their sphere organizations and attach structure around their drawing pipeline build.

    We recently announced an expanded partnership with whereby NetApp is now a complete reseller partner. NetApp and NetApp channel partners can now sell the Commvault backup recovery software directly to its customers.

    We've continued to develop their strategic relationship with Hitachi, Bentara, Huawei and Fujitsu. They hope to descry significant funnel build and revenue progress with both HP and NetApp during Q3. They remain excited about the industry opportunity represented by their alliances with everyone of these leading technology vendors and believe that these relationships will drive significant opportunity for Commvault going forward.

    Let me talk about their transition to subscription pricing. dawn in fiscal 2018, they began transitioning a significant portion of their modern customer revenue to subscription pricing models. This transition has benefits to both their customers and Commvault.

    Our success with subscription models has been better than they anticipated and their repeatable revenue streams had been significantly outgrowing their legacy pricing models. This transition has created some headwind through near-term topline revenue growth as a like-for-like subscription transaction initially generates less revenue than perpetual sale, but they believe that it's the prerogative long-term model in order to drive, help and sustainable revenue growth for the future. Brian will highlight some of these key metrics, which demonstrate their progress on this transition.

    Now let me talk about cost efficiencies. During fiscal '19, they made excellent progress in adjusting their cost structure so that they can deliver meaningful improvements to operating margins over the next brace of years. With the assistance of third party consultants, they identified areas of operational efficiencies both in the near and long term, which positively impacted the first half of FY '19 and they anticipate will drive higher operating margins for the equilibrium of FY '19 and beyond.

    Our progress is evidenced by the 61% year-over-year growth in Q2 in non-GAAP operating income. Brian will address their multi-year operating margin targets later in the call.

    While they are making changes to simplify and help their business, one thing they will not change is their commitment to innovation and delivering world-class solutions and support to their customers. As they identified economies in their cost structure, they beget not decreased their investment in R&D or customer support since their objective is to maintain their technological leadership position in the industry.

    Our commitment to lead the industry in innovation is highlighted by the announcements they made recently at their third Annual Customer and confederate Conference Commvault GO. At the conference, they announced more powerful, yet simplified oversight of backup and data management operations by using sophisticated machine learning and synthetic intelligence to automatically adjust backup schedules, dynamically auto optimize operations to help IT resource utilization, grasp immediate actions to mitigate damage from a cyber bombard and provide actual time alerts on critical issues.

    We also continued to maintain their leadership position in the cloud. Commvault Solutions seamlessly work with more than 40 cloud offerings and they continue to breathe one of the leading data protection offerings to delivering workloads to the cloud in particular AWS, Azure and Google Cloud.

    Our aptitude to enable customers to rapidly crawl workloads to, from and between clouds, while protecting the data is a significant competitive edge and remains a key driver of the Commvault business.

    Now that the foundation of Commvault foster is in place, they believe they will descry increased topline momentum, as their channel strategy, go-to-market initiatives and alliance partnerships has started to demonstrate positive traction with funnel growth acceleration.

    We anticipate sequential revenue improvement during the second half of fiscal '19 based on the following. One, the success of Commvault HyperScale Appliance and HyperScale Software Solutions, cloud migration and management, success for the Commvault Data Platform to gain share in big enterprises with the journey to the cloud and solutions to animate customers mitigate and recoup from a cyber bombard with highly automated, machine learning and synthetic intelligence aided data protection, cataclysm recovery and intrusion detection and mediation.

    Third, becoming a leading foundation for governance, data analytics and as an optimized data source from industry analytics and finally, dramatically improving their growth in the mid-market by offering much more support to their channel and strategic partners, combined with the introduction of modern innovative product offerings and pricing.

    In summary, the implementation of the Commvault foster initiatives in Q2 resulted in disruption that did not allow us to achieve their top line objective. However, they believe the pieces are now in plot for the company to execute and deliver improved monetary performance.

    I will now turn the summon over to Brian. Brian?

    Brian Carolan -- Vice President and Chief monetary Officer

    Thank you, Bob and ample morning everyone. In addition to covering the traditional monetary highlights for the second quarter of fiscal 2019, I will also spend time updating you on the progress they beget made to accelerate their transition to subscription revenue models, including metrics, which demonstrate their continued progress toward more repeatable software and products revenue streams.

    I will also update you on the results of their recent operational review, which includes the announcement of modern multiyear revenue and operating margin targets. And lastly, I will provide you an update on their share repurchase program.

    In addition to their earnings release issued earlier this morning, they also beget made available a presentation on the Investor Relations section of their website and also included this presentation in their 8-K filing. If you are on the webcast you can succeed along with these slides during my remarks.

    Q2 total revenues were $169.1 million representing an expand of 1% over the prior year period. On a sequential constant currency basis, total revenue would beget been approximately $1.9 million higher, using prior quarter FX rates.

    We reported Q1 software and products revenue of $69.5 million, which was down 3% year-over-year. Revenue from enterprise deals, which they define as deals over $100,000 in software and product revenue in a given quarter, represented 66% of such revenue.

    Revenue from these transactions was up 8% year-over-year. The number of enterprise revenue transactions increased 10% year-over-year. Their average enterprise deal size was approximately $284,000 during the quarter.

    Gross margins were 84.6% for the quarter. The cost of third-party royalties related to their HyperScale software solutions and the cost of hardware related to their HyperScale Appliances is included in the cost of software and products revenue. Total non-GAAP operating expenses were approximately $115.2 million for the quarter, down approximately 10% year-over-year and 7% sequentially.

    We completed side 1 of Commvault foster and establish significant efficiencies in their cost structure, which included reducing their overall headcount by approximately 7% since the dawn of the fiscal year. They ended the September quarter with 2,644 employees.

    In addition, as they proceed through side II of Commvault Advance, they remain focused on maintaining their technological leadership position in the industry. They Do not hope these operational initiatives to beget an adverse impact their product progress strategy.

    Operating margins were 14.8% for the quarter, resulting in operating income or EBIT of approximately $25.1 million. As Bob mentioned, EBIT was up 61% year-over-year.

    Net income for the quarter was $19.1 million and EPS was $0.40 based on a diluted weighted average share import of approximately 47.8 million shares. As a reminder, during FY '19, they lowered their pro forma income tax rate from 37% to 27%. They believe that as a result of US tax reform, 27% will align to their long-term GAAP and cash tax rates.

    We anticipate that their diluted weighted average share import for complete year FY '19 will breathe approximately 48 million shares.

    Let's now change gears and spend some time on their subscription pricing models and their continued shift to more repeatable revenue. Their subscription pricing models are continuing to resonate with customers. They believe their transition to subscription-based pricing models over the last six quarters has been very successful.

    For the sake of clarity and transparency, they are introducing two revenue metrics to animate investors track the growth and progress of their subscription revenue transition. As you will see, subscription revenue is becoming a larger portion of the industry and they intend on accelerating the pace of this transition over the next several years.

    When you combine their subscription-based license sales with their other repeatable services revenue streams, such as maintenance, managed services and SaaS, it represents what they summon their repeatable revenue. They are on track to achieve their goal of having 70% plus repeatable revenue in FY '19.

    Let me start out by defining the nature of their current revenue streams. Slide 9 in their presentation includes a chart that summarizes revenue based on how it is recognized and if it is potentially repeatable, nearly everyone of Commvault software and product revenue is related to solutions that are rush in the customers on-prem environment for cloud infrastructure.

    We currently Do not beget any significant revenue streams related to hosted or SaaS solutions. As a result, as required under ASC606, the vast majority of Commvault software and product revenue is recognized at a point in time, when it is delivered to the customer and not over the course of a contractual period. This is valid for both perpetual licenses and their software subscription software licenses.

    As a reminder, their subscription software license agreements generally require a minimum, non-cancelable spending commitment and term, which is typically three years.

    We beget intentionally used the word repeatable and not recurring to rehearse this revenue, because it is recognized at a point in time and not ratably over the length of the contract. Each time a customer renews a subscription arrangement, Commvault will recognize the entire value of the software that was sold in the epoch of sale.

    The only exception to this point in time recognition principle for their software products is sales of their pay as you proceed utility arrangements. These utility arrangements are generally structured with no guaranteed minimums, which means they are recognized over time based on product usage.

    We measure total repeatable revenue as subscription software and product revenue, utility software revenue and the revenue related to their maintenance and support services. Note that unlike software, their maintenance and support services on both perpetual and subscription software arrangements are recognized ratably over the compress term.

    Slide 10 includes a summary of the benefits of subscription models. They beget heard from many of their enterprise customers that consumption-based pricing such as subscription arrangements is very elevated on their list of prerequisites for a data management solution.

    Customers often prefer a subscription model, because it simplifies their procurement process, lowers their upfront commitment and aligns with their crawl to consumption-based pricing models associated with cloud storage.

    Ultimately a subscription license provides the customer with much more flexibility to reconcile the changes in their industry and technology. If subscription arrangements yield it easier for prospects to become Commvault customers, they are confident that the lifetime value of their customer relationships will increase. And from a Commvault perspective, they believe these models will drive a more predictable and repeatable revenue stream over time.

    Let's now search for at a simple representative specimen of a perpetual license transaction and how it compares with a subscription license arrangement over both a three and six-year period.

    In this example, on Slide 11, they beget compared a like-for-like perpetual license and subscription license arrangement. As you can see, the subscription solution requires less upfront investment by the customer and results in lower initial revenue to Commvault.

    In this example, the customer could purchase a perpetual license for their software for $245,000 plus annual customer support and maintenance. Each year that this customer renews their support maintenance, Commvault receives $45,000 of revenue. The total cost over a three-year epoch is $380,000 and increases to $515,000 over six years.

    To purchase the equivalent amount of software under a three-year subscription model, the customer would pay $300,000 either upfront or over the three-year life of the agreement. This expense is inclusive of both software and maintenance and support. Over time typically, after the first read everyone (ph) the cumulative revenue from a subscription model exceeds the perpetual model and related maintenance.

    We believe this is a win-win scenario by making it easier to initially transitioned to CommVault, their customers will also realize other monetary benefits over time versus a competitor's solution, such as more cost efficient storage, reduced downtime and less administrative cost.

    In recognition of their transition to subscription models, they believe it is now famous to highlight two key operating metrics, which demonstrate their continued progress toward more repeatable software and products revenue streams, which we've been discussing for several quarters now. They believe these metrics demonstrate the potential value of the transition to CommVault shareholders.

    The first is repeatable revenue and the second is a modern metric not previously discussed, but widely used in the industry and that is annual compress value or ACV. I will walk you through each of these in the next few slides.

    I will start with repeatable revenue, which is shown on Slide 13, as famed earlier, their primary repeatable revenue streams are subscription, software and maintenance services. The amounts included on the subscription and utility software row are inclusive of both software and maintenance and support revenue on these arrangements.

    The amounts included on the recurring support and services row is primarily maintenance and support revenue related to existing perpetual software arrangements. They would esteem approximately 71% of their Q2 total revenue to breathe repeatable in nature.

    As you can see, their repeatable revenue has been consistently growing in excess of their legacy pricing models and were up 22% year-over-year in Q2. The recent growth of their repeatable revenue streams has been driven by subscription software and products revenue, which is shown on Slide 14. Subscription-based pricing represented a record 43% of software and products revenue in Q2, which compares to 17% in Q2 of last year.

    Software and products revenue from such subscription-based models are up 136% year-over-year, a significant acceleration from last quarter. This consists of both committed and often multiyear subscription sales as well as pay as you proceed utility type arrangements.

    The second metric, I would dote to dispute is the subscription and utility annual compress value or ACV, which is shown on Slide 16. As they transition to a mostly subscription or repeatable revenue model, this will provide greater visibility into the increased subscription contracts they sell. ACV is defined as one, the total dynamic subscription contracts value, inclusive of revenue that was recognized as either software or support services, annualized for a 12-month equivalent value plus two, the annualized value of dynamic utility or pay as you proceed usage billings.

    We believe this ACV metric normalizes the variations in contractual length among their subscription and utility transactions and will animate investors and analysts track CommVault's transition to more potentially repeatable revenue streams.

    This metric will breathe a valuable data point to demonstrate the growth of their subscription and utility-based pricing models that they hope to drive modern customer acquisition, land and expand growth as well as up-sell opportunities. As of Q2, ACV has grown to $76 million after only a short epoch of selling subscription licenses. Importantly, ACV is accelerating and achieved approximately 90% year-over-year growth this quarter.

    As allotment of their Commvault foster initiatives, their go-to-market model is highly focused on primarily selling these subscription licenses and they hope subscription ACV to grow significantly over the next several years.

    I would now dote to spend the next few minutes addressing both their near-term monetary outlook and their longer-term operating targets. As outlined in today's press release, they beget been making ample progress within their Commvault foster framework across everyone aspects of the company by strengthening their competitive technology position, broadening their product line, expanding distribution relationships, reorganizing sales and marketing and driving cost reductions and efficiencies.

    We are on a path to improving the sustainable monetary performance of the company, while they hope that the changes they beget made to products, pricing, distribution and partnerships will drive future revenues and operating leverage, they also took actions to align their cost structure with a reasonable revenue growth target.

    As Bob discussed earlier, the implementation of the Commvault foster initiatives resulted in near-term disruption that did not allow us to achieve their Q2 and near-term topline objectives. They are also conservatively planning for modest revenue growth in Q3 and Q4. They hope third quarter total revenue to breathe approximately $181 million and fourth quarter revenue of approximately $189 million, resulting in total FY '19 revenues of approximately $715 million.

    These expectations are based on Q3 and Q4 software revenue of approximately $82 million and $86.5 million respectively. If they achieve their revenue outlook, they will continue to descry margin expansion and strong year-over-year earnings growth based on the cost-cutting initiatives they began in early fiscal 2019.

    We now hope the Q3 EBIT margin percentage to breathe approximately 15% and the complete year FY '19 EBIT margin percentage to breathe approximately 14.7%, which is a 380 basis point improvement over the prior year.

    While their strategic fundamentals are strong and their aptitude to execute has improved, they still physiognomy critical challenges. It is famous to note that Commvault foster is a major transformation and restructuring effort. They are making fundamental changes to the business, which carries risk, tide to disruption and execution. While they believe that the majority of the elements of Commvault foster are in place, there is a certain constituent of transformational risk associated with the execution of such initiatives, particularly in the near term.

    Despite these risks, they are already seeing improvements across numerous KPIs and October order volume is tracking well. Secondly, as they beget discussed for many quarters, they are currently reliant upon a steady inflow of big six and seven-figure deals, which reach with additional risks due to their complexity and timing.

    While they also exigency to help their nearby rates on these deals, big deal closure rates will likely remain lumpy, particularly in the near term. And lastly, while they are happy with the progress they are making with subscription pricing models, the transition drives a headwind to near-term license revenue growth.

    This transition will continue to beget a dampening result on revenue, but they believe will ultimately result in a higher lifetime value. As previously stated, fiscal '19 will breathe impacted by the near-term disruption of the changes they implemented that as allotment of their Commvault foster initiatives.

    As they enter fiscal '20, their goal is to capitalize on these changes and start to realize leverage from their distribution model as well as the operational efficiencies they identified and implemented in fiscal 2019.

    Turning to the next slide, you can descry the detail of their multi-year revenue and operating margin targets. Their fiscal '20 objective is to grow revenue by at least 9% while achieving 20% plus operating margins. Their fiscal '21 target is to continue driving operating leverage and obtain 25%-plus operating margins.

    Our continued transition to more repeatable revenue will also breathe a key component of their improved monetary performance. As you can descry on Slide 21, their target is to achieve 80% repeatable revenue in fiscal '21.

    Given their transition to subscription software licensing began in fiscal '18, fiscal '21 represents the first opportunity for Commvault to significantly benefit from renewals of existing subscription customers. As they continue driving repeatable revenue, they will focus on maximizing the value of subscription and utility annual compress value.

    As previously discussed, their current ACV is approximately $76 million. Their goal is to achieve approximately $240 million of subscription and utility annual compress value by the conclude of fiscal '21. The $240 million goal is approximately eight times the ACV they stated with when they began their crawl to subscription based pricing.

    In fiscal 2019, we've been focused on targeting areas of cost savings, such as reducing headcount by approximately 7% since the start of the year and setting the foundation for Commvault Advance.

    One of the core principles of foster is to drive distribution levers through a focus on their alliances and partnerships. If they are successful, this will accelerate operating margin expansion and reduce their sales and marketing expense as a percentage of revenue.

    As you can descry on this slide, their goal is to reduce sales and marketing expense from 53% of revenue in fiscal 2018 to 40% in fiscal '21.

    Let me now shift gears to their equilibrium sheet and cash flows. As of September 30, their cash and short-term investments equilibrium was approximately $484 million. During the quarter, they repatriated $67 million of international cash back to the US and reduced the amount of cash held in exotic locations from $197 million as of June 30 to $130 million as of September 30.

    Our remaining international cash equilibrium is spread across over 35 countries, while their goal is to continue to return as much cash as practicable back to the U.S., they may not breathe able to Do so in an economically efficient manner or may breathe limited by exotic laws and regulations.

    However, they Do believe that steps they are taking will result in the vast majority of future net cash stream to breathe concentrated in the US.

    Free cash flow, which they define as cash stream from operations less capital expenditures was approximately $17.3 million, which was up 2X, over the prior year period. As of September 30, 2018, their deferred revenue equilibrium was approximately $316 million, which is an expand of 7% over the prior year period. Nearly everyone of their deferred revenue is services revenue that has been invoiced to customers.

    Lastly, let me update you on their share repurchases. During fiscal 2019, which includes transactions through yesterday, they beget repurchased approximately $47 million or approximately 707,000 shares of their common stock at an average cost of $66.33 per share.

    As disclosed in their earnings release issued earlier this morning, their Board of Directors has recently increased the total amount available for share repurchases to $200 million and extended the program for another year through March 2020.

    That concludes my prepared remarks and I will now turn the summon back over to Bob. Bob?

    Robert Hammer -- Chairman, President and Chief Executive Officer

    Thank you, Brian. I would dote to spend a few minutes talking about Commvault proceed and the modern products they announced during the show. They hosted their Annual Commvault proceed User Conference earlier this month in Nashville. Registration exceeded last year's total with approximately 2,200 customers, prospects and partners in attendance.

    We announced a number of modern products and services including an exciting modern way for customers to interface with their software called Commvault Command Center, modern backup and recovery as a service offerings and further expanded their portfolio of appliance offerings.

    We raised the industry benchmark for software interaction and data management with the announcement of the Commvault Command Center, which provides customers with a single console for managing Commvault's complete portfolio of products across an entire enterprise on premise, cloud and conclude point infrastructures.

    The Command headquarters is enhanced with the power of synthetic intelligence and machine learning to provide easier to understand dynamic dashboard views of their customers' environments, much more comprehensive real-time reporting and unique learning capabilities, including the aptitude to grasp corrective actions.

    Broad-based security enables IT, Admin and conclude users to beget their own easily customizable dashboards. The Command headquarters can breathe deployed on premise or in the cloud and is available now.

    We announced a modern backup and recovery as a service offering to deliver Commvault's powerful simplicity for customers wishing to consume backup and recovery exigency as a service. They also announced two other backup services for virtual machines on AWS and Azure, and a backup service for indigenous cloud application such as Microsoft Office 365 and sales force.

    These solutions will breathe available within cloud marketplaces for ease of acquisition and deployment. Customers can purchase the services as a Pay As You proceed license or as a fixed term subscription. They also expanded the company's family of appliances with addition of two modern appliances. The modern appliances expand their offerings into a family of small, medium and big appliances that enable their customers to cost effectively scale from 10 terabytes to more than a petabyte or 10s of petabytes.

    The modern larger appliance is targeted at managed service providers and big enterprises featuring stellar technology with their Commvault Hyperscale software. The small offering takes a complete power of Commvault complete backup recovery into an appliance offering impeccable for remote office and branch offices.

    All of their appliances can breathe used to seamlessly backup data on-premise or crawl it directly to the cloud. Commvault user cloud resources natively, which has cost, performance advantages versus competitive offerings, which require the customer to install an instance of their appliance in the cloud.

    During the demonstrate Al and I also delivered a keynote presentation that outlined modern and exciting products and fresh ideas that meet today's unique data management challenges and opportunities for three main messages.

    One Commvault complete backup and recovery continues to set the modern industry benchmark for what it means to breathe complete and backup and recovery solutions. Advances in machine learning and AI will create a sales driving dote undergo that redefines how customers engage with their software. This is made practicable through the capabilities of the modern Commvault Command Center.

    Secondly, the simple SmartCloud highlighting Commvault's aptitude to deliver a engage of the cloud faster to automated and orchestrated research management and control, we're now helping customers deliver on a multi-cloud environment as a valid extension of a modern on-premise data center.

    And lastly, they continue to help customers' information of their data with a holistic enterprise wide view and they are delivering applications that allow them to act upon that knowledge. This comes to life through Commvault Activate.

    Innovation remains the hallmark behind Commvault's product vision and leadership. Commvault is applying leading edge AI and machine learning to deliver outcomes that customers value most. Commvault challenges the industry to hope more as they deliver truly complete backup and recovery.

    Before they wrap up, let me briefly update you on the search process for a modern CEO. As stated previously, the CEO Search Committee of their Board remains -- retained a leading search from May and has been identifying and actively interviewing candidates. The search process is well under way and the search committee is making ample progress.

    In closing, under Commvault foster they made significant progress in the quarter, establishing a stronger foundation to better enable us to achieve more improved and predictable monetary performance both in the short and long-term. While they are not satisfied with their Q2 revenue performance, they are seeing strong early momentum from their Commvault foster initiatives and are excited about their accelerating subscription revenue.

    We beget made comprehensive operational changes over the last several months and these changes are now behind us. They are now focused on ongoing forward execution. The actions they took to align their cost structure at the dawn of the year were evidenced in the 61% year-over-year EBIT improvement. Now that the foundation of Commvault foster is in place, they believe they will descry increased momentum as their channel strategy, go-to-market initiatives and alliance partnerships start to demonstrate positive traction.

    As I mentioned earlier, they are entering the second half of the year with a much stronger funnel. We'll breathe focusing their efforts on executing the key elements of Commvault foster where they already beget a solid already -- where they already beget solid proof points of success.

    Our objective is to yield sure they achieve their near-term monetary objectives while solidifying their Commvault foster Foundation for FY '20. Their immediate focus is to achieve their Q3 revenue and earnings forecasts.

    Now let me turn the summon back to Mike. Mike?

    Michael Picariello -- MD of Americas Research

    Operator, can you delight open the line for questions?

    Questions and Answers:

    Operator

    (Operator Instructions) Their first question comes from the line of Joel Fishbein of BTIG. Your line is now open.

    Joel Fishbein -- BTIG, LLC -- Analyst

    Good morning. I beget one for Bob and one for Brian. I'll start with Brian. Hey Brian, thanks for the detail on the crawl to the subscription model. What I'm just trying to understand is with a lot of these companies, you start this -- you descry deferred revenue grow prerogative as you sign these deals, particularly larger ones and I'm just trying to understand why we're not seeing an uptick in deferred revenue with some of these subscription deals? And then I'll wait -- just put a question to Bob the next question.

    Brian Carolan -- Vice President and Chief monetary Officer

    Sure. ample Morning, Joel. So, as I described in the call, we're a bit unique when it comes to the application of ASC 606. When they sell their subscription software and license arrangements, they actually recognize that revenue upfront in the epoch of sale on the software portion.

    The only thing that goes into deferred revenue potentially would breathe the maintenance that's attached to that, just dote a ordinary arrangement under perpetual model. It's the very type of carve out for maintenance and support that gets deferred over the contractual term.

    So you don't descry it demonstrate up in deferred. It actually shows up in epoch revenue that's been recognized. That's why we're going to try to point to other metrics such as ACV and repeatable revenue and try to give you ample visibility into the traction that we're making on more repeatable revenue models.

    Joel Fishbein -- BTIG, LLC -- Analyst

    Would you beget a backlog number then, dote in terms of total compress backlog or is that not a metric that might breathe meaningful?

    Brian Carolan -- Vice President and Chief monetary Officer

    That's really what, it's almost really, if you search for at the ACV is a proxy for what backlog would breathe essentially.

    Joel Fishbein -- BTIG, LLC -- Analyst

    Okay. Great. And then Bob just for you, what gives you confidence that you can grow 9% next year? Obviously you're making a lot of changes prerogative now and I'm just -- what's giving you the confidence? Is it something that you're seeing out there specifically that you can point to?

    Robert Hammer -- Chairman, President and Chief Executive Officer

    Yes Joel, clearly we're seeing a substantial, I value substantial uptick in funnel stream in the enterprise just started to change. They saw it in the spring and it really accelerated through the summer in spite of disruption and continued as they entered Q3 in very big deals into the funnel and those deals were tied a trend in the industry for big enterprises to consolidate everyone their data management functions to deal with cost, cyber compliance and the cloud.

    And I believe their data management platform and the market is recognizing this, is in a class by itself in terms of delivering those capabilities. So that significant expand in big deal and stream also gives us optimism for this current quarter and it's continued.

    And secondly, as I discussed in my remarks, they now beget a much stronger distribution position and although that's going to grasp a diminutive time to impact their earnings, we're starting to descry that as well, so fortunately they got a massive significant upturn in their I'll summon it core enterprise industry and also that is also being driven by a much stronger confederate and alliance relationships in the enterprise.

    And from the midmarket standpoint, they are seeing ample traction with their appliances in Commvault Complete and modern pricing. So the whole foundation at Commvault Complete was not try to yield changes here. That's why it goes back a brace years to yield fundamental changes in their products pricing, routes to market, alignment with those routes to market and a much more efficient cost structure.

    So internally, there's a lot of optimism underneath and I really assume we've done this the prerogative way although it had some attended risks as they made these massive changes last quarter.

    Joel Fishbein -- BTIG, LLC -- Analyst

    Great, thank you.

    Operator

    Thank you. Their next question comes from the line of Aaron Rakers Wells Fargo. Your line is now open.

    Aaron Rakers, -- Wells Fargo -- Analyst

    Yeah, thanks for taking the questions as well. So I want to proceed back to that last question and just understand the variables at play to underpin what looks to breathe a 17%-plus sequential expand in your implied software license revenue this quarter.

    I assume with that in mind, it would breathe helpful to understand exactly what degree of funnel pipeline growth that you've been seeing and what assumptions are you making in terms of converting those funnel opportunities into recognized revenue? I'm just trying to understand the basis for that expand conservatism wise or what you descry to drive that flat of sequential growth?

    Robert Hammer -- Chairman, President and Chief Executive Officer

    So the funnel growth Aaron is material and significant. I value it's -- we're talking about a very major expand in the growth of funnel, particularly in big enterprises and particularly in the Americas and the assumptions we're making on funnel nearby what I summon reasonable and Brian can respond that question.

    So we're not putting tremendous nearby rates on these areas of the funnel and then the other thing that goes along with this is their we've had predictive models here that are quite sophisticated and they've been quite accurate and their predictive analytics also search for really ample relative to the guidance they just provided.

    Brian Carolan -- Vice President and Chief monetary Officer

    Yeah, I assume just to succeed on with Bob's point, we're using fairly typical and average nearby rates applying that to the current quarter funnel. Again, they descry a robust uptick in their enterprise deal funnel heading into this quarter, which we're pleased with. Although I did hiss that could breathe lumpy at times, we're still, we're pleased with that number in available funnel.

    Robert Hammer -- Chairman, President and Chief Executive Officer

    I think, Aaron, you saw a lot of this and this kind of validates what you saw it proceed since you were there and what you heard on the floor.

    Aaron Rakers, -- Wells Fargo -- Analyst

    Yeah, and just a quick follow-up, I'm just curious, I assume last quarter Bob, in response to your question, you said that basically 98% I assume was the number that the total sales constrain realignment efforts beget been completed.

    As they search for at the leverage that you're presenting to us going forward, I'm inquisitive of what else is there in terms of sales realignment or for that matter, sales headcount reduction efforts that should breathe anticipated in front of us if there are any?

    Robert Hammer -- Chairman, President and Chief Executive Officer

    I would hiss the bulk of this is behind us, but as they proceed forward and bring the leadership in, which we've done, I assume over time they will continue to refine that model. So I assume there are additional benefits to breathe gained on efficiency, but those are incremental relative to what they just went through.

    Aaron Rakers, -- Wells Fargo -- Analyst

    Okay, thank you.

    Operator

    Thank you. Their next question comes from the line of Jason Ader of William Blair. Your line is now open.

    Jason Ader -- William Blair -- Analyst

    Thanks. Bob, thank you for the CEO search update. I guess my question on that is, five months into when you announced it and they haven't seen any announcements yet. So I guess why is it taking so long? Is there anything you can give us some more color on that?

    Robert Hammer -- Chairman, President and Chief Executive Officer

    I'll just yield the observation that the search committee is making very ample progress on the CEO search.

    Jason Ader -- William Blair -- Analyst

    Okay. unprejudiced enough. And then over the last few years, we've seen a series of restructuring and pricing and packaging changes. I know that you guys are optimistic on the things that you're implementing prerogative now, but why should investors believe that this time is going to breathe different?

    Robert Hammer -- Chairman, President and Chief Executive Officer

    Well, the only validation is for us to hit the numbers. That's the only actual validation. everyone I can hiss is the funnel growth and the types of deals we're seeing now are in a different category than we've seen in their history. So a lot of the deals -- there is a lot of deals that are in the multiples of millions of dollars and it's both mainly in the Americas and AMEA, primary in multiple million this is summon it $3 million, $4 million, $5 million, $6 million kind of deals and they're accelerating.

    So we've got that, that's actual and these deals are well scrubbed and they're poignant through the funnel well. In addition, we've never had the strength of their product line for the bid market, where their appliances are complete and really getting their prices in line and we've eased that up with a lot more resources and focus.

    So I assume fundamentally, they didn't try to Do a quick fix here. They try to really understand the market dynamics and address it.

    In addition, let me breathe limpid about this, if you search for at their platform for the cloud, a actual cloud platform to manage data and migrate it to the cloud and manage it in as a scale out platform and with Linux functionality, I assume there is a stronger platform in the industry than what they beget here at Commvault.

    And we've been able to grasp the next step and enhancing that platform for let's summon it multiple exabytes scale, which they anticipate will breathe in the market sometime early next fiscal year. It's not that far away. So I assume technically we're in a really ample position.

    I assume we're seeing the actual traction from the consolidation taking plot in the enterprise across the Board for data management functions. I assume cyber is a tremendous driver of that and we've had really ample success in taking major customers and they when they recoup from major cyber attacks, they had most present at their proceed Conference as a ample specimen of that.

    Clearly, things dote GDPR compliance are playing a role of that and the cloud is becoming increasing famous and I don't assume there is any platform on the planet that allows customers to natively expend the cloud and everyone its aspects dote they have.

    So in spite of the changes the things they made, I assume the company is fundamentally in a extremely strong strategic position to accelerate growth and they beget established a much more efficient cost structure to drive the bottom line.

    Jason Ader -- William Blair -- Analyst

    Thanks.

    Operator

    Thank you. Their next question comes from the line of Andrew Nowinski of Piper Jaffray. Your line is now open.

    Andrew Nowinski -- Piper Jaffray -- Analyst

    Okay. Thank you very much. ample morning. So looking at Slide 21, your assumptions for repeatable revenue growth suggest growth of just 17% in fiscal '19. I assume that decelerates to about 16% by fiscal '21, despite the blend continuing to increase.

    Is that factoring in expense declines or why should they hope repeatable growth to basically top out at the fiscal '19 flat for just at the start of the transition and they haven't seen an impact from renewals yet?

    Brian Carolan -- Vice President and Chief monetary Officer

    Well, again we're trying to breathe a diminutive bit conservative with their guidance out there Andy. So I assume that we'll descry an acceleration. By FY '21, will breathe the first meaningful year, where they descry renewals start to happen, but they want to breathe reasonable with their expectations and so they actually descry that happen.

    Andrew Nowinski -- Piper Jaffray -- Analyst

    Okay. unprejudiced enough. And then in Europe, if I looked at the software revenue, it actually did decline about 17% this quarter despite the GDPR tailwinds. I guess, can you just give us an update on what's going on in Europe and other competitors, such as (inaudible) any pressure on your aptitude to grow revenue in Europe there?

    Robert Hammer -- Chairman, President and Chief Executive Officer

    No. The EMEA team is consistently -- met their number or beat it and last quarter they basically took the sphere out for about six weeks as we're going through this whole transition. So in some sense, the quarter really didn't start till the 1st of August.

    As far as they know their expectations for Q3 are for us very, very significant quarter-on-quarter growth. So I assume what we've stated is accurate, that you can't draw any long-term conclusion from what happened last quarter, they really believe that the majority of that was disruption.

    Andrew Nowinski -- Piper Jaffray -- Analyst

    Okay, thanks, Bob.

    Operator

    Thank you. Their next question comes from the line of John DiFucci of Jefferies. Your line is now open.

    John DiFucci -- Jefferies -- Analyst

    Thank you. I beget a question for Brian and then maybe a follow-up for Bob. So Brian thanks again for everyone that information on the transition of this subscription model, that's everyone really helpful. But when they search for at that -- the utility revenue, I assume that's one piece that's going to reason some questions and I just want to yield sure they understand that.

    Can you iterate us about what the size or the percentage or the revenue of that revenue is dote on an annual basis and if you can, what the annual retention of that utility revenue is even if it's on a customer basis that they can sort of ascertain how repeatable that is?

    Brian Carolan -- Vice President and Chief monetary Officer

    Sure. So the utility portion of the subscription revenue or repeatable revenue is actually -- it's relatively small in the grand scheme of the total. I would hiss that their retention rate is extremely elevated on that.

    This is often a pay-as-you-go model based on usage. It's a quite sticky revenue stream that repeats typically every quarter and what we're trying to Do with the ACV metric is trying to annualize that as well, because it is on a rush rate that is not much predictable for us. And it's not -- the majority of the revenue is not even nearby to that. They didn't hiss what's the number is, but it is the smaller portion of that total.

    John DiFucci -- Jefferies -- Analyst

    Okay. Well that's a start. So thanks, it's small, but it does beget a pretty elevated retention rates. So that's ample to hear. Okay. And Bob listen, so just to proceed along some of the questioning here, Commvault always had strong vision and products, sometimes getting to market has been a challenge, getting the products to market, but both -- both of those points, it's always been strong vision in compelling and conclude product, but go-to-market execution seems to beget been spotty over history.

    And you said this in this quarter, the disruption was greater than you expected and so we've heard dote in the sphere of dote higher than ordinary voluntary sales personnel attrition and it's -- so that seems dote the disruption is going to breathe -- it's going to persist here and I guess how Do you recoup from that?

    I know you're trying to shift more to partners, but that also increases some risk to any kind of shift those right. So I guess to some of those questions around dote how Do you feel confident about 9% growth next year, is it the fact that you just don't exigency sales as much as you did before with the shift to more of a product or partner-driven go-to-market strategy, because even in that case I don't know, it just seem to breathe pretty famous here.

    Robert Hammer -- Chairman, President and Chief Executive Officer

    Now, let's breathe clear. Sales is still really critical and the surprise if you want to summon it a surprise is we've always been strong in the enterprise and it drove a lot of their growth in their early years.

    And the enterprise for a brace of years shifted to buying point products, the next shiny box or whatever and that began shifting probably about six months ago, maybe a diminutive longer so a consolidated holistic play in the enterprise and that's really accelerated and those -- that whole series of, suffer if I just went through on consolidation, cost, cyber compliance and I'll just mention offline here that we've automated so much of the processes within data management now.

    So we've taken a lead in automation both on premise and the cloud. So you've got this massive shift in the enterprise that is more holistic enterprisewide solutions that requires a really strong enterprise sales constrain and I mentioned earlier, when they started Advance, but they wanted more leverage with distribution partners in the enterprise and now we've got the combination of those two.

    And then the mid-market, even though they shifted more resources to partners that's a process that is not going to happen in a day. It is happening as they speak, we're seeing in, but that engine will gain momentum quarter-on-quarter. So the respond is sales for their industry is still extremely famous and yes, there's no doubt when you yield major changes dote this and these are fundamental. They didn't try to troupe aid it and they did it quickly.

    You're going to descry some disruption because it's not only structure that they changed. Its comp and a lot of other things and pricing. So I believe the pluses well outweigh the risks on the bottom, but I don't want to minimize that they won't descry some attrition, disruption as they manage their way through that. But I assume it will breathe manageable, because they got so many strengths now for their salespeople to hit their quotas and yield a lot of money.

    John DiFucci -- Jefferies -- Analyst

    So it sounds dote sales or voluntary sales attrition from what we're hearing in the field, it sounds dote it's accurate, but there's so many things going on here that you assume you'd breathe able to offset that?

    Robert Hammer -- Chairman, President and Chief Executive Officer

    Yes, and search for some of that goes on when you yield major change.

    John DiFucci -- Jefferies -- Analyst

    Yeah, OK. Well thank you guys.

    Operator

    Thank you. Their next question comes from the line of Alex Kurtz of KeyBanc Capital Markets.Your line is now open.

    Alex Kurtz -- KeyBanc Capital Markets -- Analyst

    Yeah, thanks guys. ample morning. I just want to succeed up on that last question, Bob, are you taking any specific actions with your top reps to incentivize them, specifically to stay on for the next brace of quarters as you proceed through this transition, is there any specific actions you're taking? I know there is a lot of organizational changes here. I was wondering if there was a program around the sales constrain around retention.

    Robert Hammer -- Chairman, President and Chief Executive Officer

    The respond is just in common they are taking specific action in specific cases and trying to yield it easier for their sales teams to deserve their quotas. There is not a common corporatewide action. There are specific actions in the field.

    Alex Kurtz -- KeyBanc Capital Markets -- Analyst

    Okay. And Bob just competitively in the US, especially I know there's been a lot of discussion last brace of earnings calls around a brace of emerging platforms that are competing in the channel, just any kind of update in what you're seeing quarter-to-date, year-to-date, any changes sequentially?

    Robert Hammer -- Chairman, President and Chief Executive Officer

    Well, in the enterprise, we're seeing a significant resurgence against everyone the competitors, legacy and the modern competitors in the midmarket and certain, I'll summon lower scale deployment enterprise. They clearly descry the modern converged guys in the market and they beget a lot of momentum, but now you've got a Commvault with a complete product line and much stronger distribution, to deal with that I can say.

    When they accept into head-to-head competition now when they are there, they beget a really elevated win rate, because it's just the breadth and depth of what we're doing in terms of -- and having products that are not only competitive, what they have, but proceed way beyond their capability, particularly in their aptitude to crawl data into the cloud to manage it in the cloud and manage it back for a data protection that everyone the automated and orchestration capabilities they beget for debt test DRs and a class by itself now.

    So I assume we're in a really solid position technically and I assume we've done a lot to fundamentally change their -- and strengthen their go-to-market. So I assume internally they feel really ample about everyone those although it was painful in the near term.

    Alex Kurtz -- KeyBanc Capital Markets -- Analyst

    Understood. And Brian, just last question for me, I assume historically you've called out the subscription headwind, but the dollars, I assume you've kind of projected what the delta would beget been. Sorry if I missed it this earnings call, but beget you called that out yet?

    Brian Carolan -- Vice President and Chief monetary Officer

    No, they didn't attach a number on that. I'd hiss it's fairly consistent with what they did in prior quarters. It's probably in that $3 million to $4 million range, the headwind.

    Alex Kurtz -- KeyBanc Capital Markets -- Analyst

    Great. Okay. everyone right, thanks guys.

    Operator

    Thank you. Their next question comes from the line of Eric Martinuzzi of Lake Street. Your line is now open.

    Eric Martinuzzi -- Lake Street -- Analyst

    Yeah, my question has to Do with brace of your key channel partners, just wondering sometimes I've grown num to the HPE, the annual HPE announcement or the annual NetApp announcement. Obviously given the shift to channel dependency here and away from the direct side, what beget they done differently this year versus past years?

    I feel dote you've always had products that play well with them, but what are the one or two significant changes with those two key partners?

    Robert Hammer -- Chairman, President and Chief Executive Officer

    I'll grasp HP and I'll let Al grasp the NerApp. The inequity is that they beget what I summon fully integrated online plays with HP. So when they proceed to market, they proceed to market with a solution that includes Commvault as far as solution and that's brand new.

    That agreement was completely modern agreement that was executed this summer and basically went into market over the last brace of months. They beget significant deals in the funnel with them that are actual that will most likely nearby this quarter.

    In addition to that, for example, HB had 30 people at their confederate conference this year and they've had of storage that's working with us profile globally, everyone their major accounts with Commvault, so that's really ample on the ground integration with HP. So they attach the resources, they beget the aligned plays. We've got pricing. So they got I'd hiss extremely ample alignment with them and they're putting a lot of resource behind their partnership.

    So I'm really confident about kind of where they are with them and we're also seeing it in their funnel growth. So it's radically different from anything we've had in the past with HP and its brand modern and I'll let Al grasp the NerApp.

    Al Bunte -- COO

    Yeah, and I assume NetApp is similar to what Bob just said on HPE. Lots of programs, lots of campaigns, lots of sales initiatives, but I assume overall, one that Bob didn't talk about, it's applicable across everyone of their major particularly storage or infrastructure partners is their aptitude to deal with software-defined secondary storage.

    Notably came out with their HyperScale both Appliance and reference architecture programs and I think, Eric and you would know this, we're seeing a major, major battleground developing for secondary storage. It's everyone predicted that there's going to breathe a huge amount of movement in this direction.

    We also assume in the current market that there is lot of vulnerability, to older technologies, expensive technologies and again the modern scale-out HyperScale environment is extremely compelling. So they descry a number of again what I'd summon historic storage suppliers wanting to participate in this kind of trend.

    Robert Hammer -- Chairman, President and Chief Executive Officer

    Yean and Al just made a really ample point and HyperScale in HP's case, they drive that on their Apollo, whether Apollo servers. So it's not just appliances, it's on their own server infrastructure for secondary storage and concurrent with that, there is no doubt that their platform and its aptitude to seamlessly manage data on premise and in the cloud across an enterprise is a major strategic edge versus anybody out there.

    Eric Martinuzzi -- Lake Street -- Analyst

    Okay. Because that's -- they don't lack for people looking out your competitors also beget programs with them. So I'm happy to hear there is higher flat of executive commitment for you guys.

    Brian Carolan -- Vice President and Chief monetary Officer

    Higher flat of integration.

    Robert Hammer -- Chairman, President and Chief Executive Officer

    And to breathe limpid in HPE case and they Do beget a competitor, in the enterprise they're focused with Commvault and the enterprise. The HPE play is mainly a big enterprise -- global big enterprise play.

    Eric Martinuzzi -- Lake Street -- Analyst

    Okay. Thank you.

    Operator

    Thank you. And I'm showing no further questions at this time. Ladies and gentlemen, thank you for participating in today's conference. This concludes today's program. You may everyone disconnect. Everyone beget a Great day.

    Duration: 74 minutes

    Call participants:

    Michael Picariello -- MD of Americas Research

    Robert Hammer -- Chairman, President and Chief Executive Officer

    Brian Carolan -- Vice President and Chief monetary Officer

    Joel Fishbein -- BTIG, LLC -- Analyst

    Aaron Rakers, -- Wells Fargo -- Analyst

    Jason Ader -- William Blair -- Analyst

    Andrew Nowinski -- Piper Jaffray -- Analyst

    John DiFucci -- Jefferies -- Analyst

    Alex Kurtz -- KeyBanc Capital Markets -- Analyst

    Eric Martinuzzi -- Lake Street -- Analyst

    Al Bunte -- COO

    More CVLT analysis

    Transcript powered by AlphaStreet

    This article is a transcript of this conference summon produced for The Motley Fool. While they strive for their foolish Best, there may breathe errors, omissions, or inaccuracies in this transcript. As with everyone their articles, The Motley Fool does not assume any responsibility for your expend of this content, and they strongly animate you to Do your own research, including listening to the summon yourself and reading the company's SEC filings. delight descry their Terms and Conditions for additional details, including their Obligatory Capitalized Disclaimers of Liability.

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    Zend [6 Certification Exam(s) ]





    References :


    Dropmark : http://killexams.dropmark.com/367904/11706687
    Wordpress : http://wp.me/p7SJ6L-1eA
    Issu : https://issuu.com/trutrainers/docs/c2010-515
    Dropmark-Text : http://killexams.dropmark.com/367904/12210019
    Blogspot : http://killexamsbraindump.blogspot.com/2017/11/once-you-memorize-these-c2010-515-q-you.html
    RSS Feed : http://feeds.feedburner.com/FreePass4sureC2010-515QuestionBank
    Box.net : https://app.box.com/s/u27puikx597ietv4srrdg7plxsumyo14
    publitas.com : https://view.publitas.com/trutrainers-inc/where-can-i-get-help-to-pass-c2010-515-exam
    zoho.com : https://docs.zoho.com/file/5wmnz5f09011053564e6b9444f5954541b707






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