Box
BOX
has got picked by BT for cloud content management. This highlights the efficiency and reliability of Box’s cloud solutions.
Notably, BT leverages content hubs in Box for organizing, managing and distributing digital assets.
In addition, Box helps BT to deliver an integrated content experience with Salesforce and enables content from the sales journey to be shareable among the companies’ sales as well as marketing teams.
Moreover, BT utilizes Box for secured collaboration with customer forums and external agencies.
BT has already been using Box as its safe platform for intelligent, workflow-driven content management at its Global unit. The recent move has further strengthened their partnership.
Expanding Clientele
Box is making strong efforts to offer cloud management solutions according to customer requirement. This in turn is driving the company’s customer loyalty and increasing the customer base.
Apart from the latest partnership, Box was chosen by U.S. Department of Health and Human Servicesfor providing an advanced technical edge to healthcare services in the country.
In addition, Box was selected by the Washington State Department of Health for offering critical information related to the coronavirus pandemic and healthcare facilities by leveraging the former’s cloud content management platform.
Moreover, Box signed a five-year contract with the Defense Contract Management Agency, wherein the latter will use Box’s cloud content management platform to support its workload and reduce operating costs over the coming years.
Further, Box’s partnership with the U.S. Department of Air Force for leveraging its platform to aid critical processes for the Air Education and Training Command and Air Combat Command remains noteworthy.
Cloud Computing Market Holds Promise
We note that the latest move poises Box well to expand presence in the booming cloud computing market.
This market is growing in recent times due to rising adoption of cloud-based solutions, and growing implementation of advanced technologies including machine learning as well as artificial intelligence.
Additionally, rising investments by the United States, the United Kingdom, China, India and other countries in various cloud-based projects are propelling this market.
As offices, schools and enterprises have been shut down due to the coronavirus pandemic, cloud computing companies are providing cost-effective and productive digital solutions to customers working from home and learning online. This is driving the market further.
According to Fortune Business Insights
report
, the global cloud computing market is expected to hit $792 billion in 2028 from $250 billion in 2021, progressing at a CAGR of 17.9% between 2021 and 2028.
Thus, Box remains well positioned to make the most of its efforts in this market by the abovementioned prospects.
However, rising cloud competition from players like
Alphabet
’s
GOOGL
Google and
Dropbox
DBX
remains risk for the company.
Zacks Rank & Stock to Consider
Box currently has a Zacks Rank #4 (Sell).
A better-ranked stock in the broader technology sector is
Marchex
MCHX
, carrying a Zacks Rank #2 (Buy) at present. You can see
the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here
.
Long-term earnings growth rate for Marchex is currently projected at 15%.
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