Cisco Systems, Inc. (CSCO) has announced a new telepresence product that can increase collaboration amongst employees leveraging the cloud on the one hand and a client computing device on the other.
While the product is a mobile application and the focus is on the mobile side of things, it can also be made to work on a desktop. The idea seems to be that people working on the field can communicate and collaborate with people positioned in the office through a virtual meeting room to speed up the decision-making process, also helping to communicate ideas to and control the activities of field personnel.
Collaboration is facilitated on multiple levels as the app integrates Box collaboration tools that facilitate content sharing, which adds to Cisco’s own capabilities of audio/video conferencing and text chat.
The app was launched at the 2014 Cisco Collaboration Summit in Los Angeles. The tool operates on Cisco’s Collaboration Cloud platform, and is therefore equipped with security capabilities that provide support for end-to-end encryption on the web.
The tool runs on Apple’s (AAPL) iOS or Google’s (GOOGL) Android mobile device and also on Google Chrome or Firefox web browsers. It is now available for free download on the App Store and Google Play.
Cisco expects Project Squared to enhance the collaboration experience. The app however joins the highly competitive enterprise collaboration market crowded with similar apps including Cotap for business mobile messaging, Slack for chat room-like interaction, Vidyo and Blue Jeans Network for cloud-based video conferencing and many others.
Partnering with Box will allow Cisco to include product integration, make it easier to share and access content directly from within the Project Squared app, thereby eliminating the requirement of downloading. Moreover, it is ideal for both mobile users and desktop users.
Cisco had acquired WebEx, a collaboration company, for over $3 billion in 2007. The WebEx tool, however, has not gone over well and seems a bit backdated when compared to consumer apps available these days. So, Project Squared seems a modern alternative for WebEx.
Cisco is the worldwide leader in networking for the Internet. Despite growing competition from several smaller players and challenges to its core business, Cisco continues to innovate to adjust to the changes.
Cisco currently has Zacks Rank #4 (Sell). A better-ranked stock in the sector is Emulex Corp. (ELX), sporting a Zacks Rank #1 (Strong Buy).
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