The companies also announced that they will make use of the solutions of Jasper Technologies, an Internet of Things (IoT) startup that Cisco acquired for $1.4 billion earlier this year.
Key Takeaways of the Deal
Smoother Communication: As an alternative to searching for a customer contact or sending an e-mail, going forward, sales personnel will be able to communicate with their clients via a text chat, or voice/video call just by clicking a button on the profile of the client.
Real-Time Updates: The new collaboration will offer real-time updates on deliveries from a fleet of trucks by relaying data to the Salesforce’s cloud with the help of Jasper’s software. Additionally, it will also help to gain timely alerts for maintenance of the trucks.
Enhanced Productivity: Together the companies will work toward improving customer service technology for enhanced productivity.
The companies intend to announce other such products later on.
As per some media reports, Rowan Trollope, Cisco’s head of IoT and applications stated that the company’s main focus is to do away with the ‘friction’ that users face on a daily basis in a bid to increase productivity.
We note that there is fierce competition in the IoT space with the presence of major players such as Microsoft Corporation MSFT Amazon, Oracle and Alphabet. However, Cisco’s collaboration with salesforce.com will position both the companies better to take on the competition together.
Zacks Rank & Key Picks
At present, Cisco carries a Zacks Rank #3 (Hold).
A better-ranked stock in the broader technology space is Lantronix, Inc. LTRX, sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Notably, Lantronix witnessed one positive estimate revision in the last 30 days.
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