BMC Software Inc. (BMC) announced that China Pacific Insurance Co. (“CPIC”) recently deployed its Business Service Management (BSM) platform. Financial details of the deal were not disclosed.
The CPIC Group holds the second largest position in property insurance and the third largest position in life insurance in Mainland China. It provides integrated insurance services, including life insurance, property insurance and reinsurance, through its subsidiaries.
The Group updated its existing information technology (IT) monitoring system with BMC Software’s ProactiveNet Performance Management solution. The system upgrade has enabled CPIC to quickly foresee problems and gauge business priority to reduce error resolution time and free the IT team of its constant fire-fighting activities through forewarnings.
This is not the first time that the BSM platform has been deployed by CPIC Group. In 2008, the Group first deployed the solutions to match its IT requirements with business needs. The latest agreement further strengthens business ties between the two.
Earlier this week, BMC Software secured a contract from NEC BIGLOBE of the NEC Group. Under this contract, NEC BIGLOBE will deploy BMC’s Remedy IT Service Management (ITSM) solutions to improve its incident handling efficiency by 30.0%.
The Remedy ITSM Suite, an integral part of the BSM portfolio, automates handling of incidents, leading to streamlined processes that ensure customer satisfaction.
BMC Software’s continuous deal wins keeps us positive on the stock. The company also reported decent first quarter results and provided a positive outlook for fiscal 2012. Acquisitions have expanded BMC’s product portfolio, helping in the creation of enhanced solutions.
Growth prospects in most of its business segments, a strong position in the government vertical and robust cash generation abilities are other positives. However, we are a tad apprehensive about the growing competition from big players such as International Business Machines Corp. (IBM), Hewlett-Packard Company (HPQ), EMC Corp. (EMC) and CA Inc. (CA), which bundle hardware and software offerings.
BMC currently holds a Zacks #3 Rank, which implies a short-term Hold rating.
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