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C9560-515 IBM SmartCloud Application Performance Management V7.7 Fundamentals

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C9560-515 exam Dumps Source : IBM SmartCloud Application Performance Management V7.7 Fundamentals

Test Code : C9560-515
Test title : IBM SmartCloud Application Performance Management V7.7 Fundamentals
Vendor title : IBM
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IBM IBM SmartCloud Application Performance

Settling In With IBM i For The lengthy Haul | real Questions and Pass4sure dumps

February eleven, 2019 Timothy Prickett Morgan

If nothing else, the IBM i platform has exhibited outstanding toughness. One could even content legendary toughness, if you are looking to purchase its background each and every of the means again to the gadget/3 minicomputer from 1969. this is the wholehearted starting aspect within the AS/400 family tree and here's when massive Blue, for terribly sound felony and technical and advertising motives, determined to fork its items to address the pleasing needs of tremendous corporations (with the gadget/360 mainframe and its observe-ons) and small and medium organizations (beginning with the gadget/3 and touching on throughout the equipment/34, gadget/32, equipment/38, and device/36 within the Nineteen Seventies and early Eighties and passing throughout the AS/400, AS/400e, iSeries, gadget i, after which IBM i on vigour methods systems.

It has been an extended eschew certainly, and many purchasers who've invested within the platform began course returned then and there with the early versions of RPG and moved their purposes ahead and altered them as their organizations developed and the depth and breadth of corporate computing changed, touching on up via RPG II, RPG III, RPG IV, ILE RPG, and now RPG free form. Being on this platform for even three a long time makes you a relative newcomer.

there's a longer eschew forward, on account that they correspond with that the corporations which are nevertheless running IBM i systems are the actual diehards, the ones who don't own any expostulate of leaving the platform and that, at the least according to the survey statistics we've been privy too, are signification to proceed investing in, or even expand their investments in, the IBM i platform.

so far, they aren't in a recession and heaven inclined there are not one, so the priorities that IBM i stores own aren't the ones that they had a decade ago each and every over the top of the exquisite Recession. back then, as became the case in basically each and every IT organizations, IBM i stores had been hunkering down and own been trying to reduce fees in each and every approaches feasible, including deferring system improvements and migrations in addition to slicing lower back on other projects. simplest 29 p.c of the 750 IBM i retail outlets that participated in the 2019 IBM i marketplace Survey, which HelpSystems did returned in October 2018, were involved about decreasing IT spending. here is a remarkably low stage, and i contemplate is indicative of how fantastically powerful the pecuniary system is – excepting probably the most fits and begins they noticed on the discontinuance of 2018 and here in early 2019 that Make us nervous and could beginning placing constrain on issues. here are the revise issues as culled from the survey:

coping with the boom in statistics and in deciding the analytics to chew on that facts ranked a bit bit larger on the 2019 IBM i market Survey than did cutting back expenses, and that i believe over the long haul these considerations will become extra famous than modernizing applications and dealing with the IBM i competencies shortages which are a perennial agonize. each of those concerns are being solved as novel programmers and novel apparatus to Make novel interfaces to database applications are becoming greater ordinary and as technologies akin to free kindhearted RPG, which looks more fancy Java, Python, and php, are being more commonly deployed and, importantly, may furthermore exist picked up extra at once by means of programmers skilled with these different languages.

Given the nature of the consumer base, it looks not going to me that protection and extravagant availability will no longer continue to exist basic concerns, youngsters that the IBM i platform is among the many most relaxed structures in the world (and not simply since it is vague, however since it is enormously tricky to hack) and it has various extravagant availability and calamity recovery tools (from IBM, Syncsort, Maxava, and HelpSystems) available for people that are looking to double up their programs and protect their purposes and records. The bar is regularly larger than fundamental backup and recuperation for many IBM i shops within the banking, assurance, manufacturing, and distribution industries that dominate the platform. These organizations can’t own protection breaches, and they can’t own downtime.

there's a outstanding amount of equipoise within the IBM i consumer groundwork that they feel, at this factor, is reflective in the stability of the IBM i platform and big Blue’s own faith that it needs a in shape IBM i platform to own an commonplace match power programs business. they each and every exist conscious of that the power systems hardware commerce has simply grew to become in five quarters of income enlarge – some thing they discussed currently in setting up their own salary mannequin for the energy systems enterprise – but what they did not understand, and what exist positive you understand, is that within the 2nd and third quarters of 2018, the IBM i element of the company grew greatly quicker than the ordinary vigour systems enterprise, and the most effectual purpose that this did not happen in the closing quarter of 2018 is that sales of IBM i machinery in q4 2017 was rather fabulous and represented a extremely challenging evaluate. The aspect is, the IBM i enterprise has been elevating the punch programs kind typical. (These guidelines in regards to the IBM i company approach compliments of Steve Sibley, vice chairman and providing manager of Cognitive methods at IBM.)

IBM’s personal economic equipoise of the vigour platform – which has been bolstered via a circulation into Linux clusters for analytics and extravagant efficiency computing simulation and modeling in addition to through the adoption of the HANA in-reminiscence database by SAP valued clientele on big iron machines including Power8 and now Power9 programs – helps IBM i purchasers believe greater assured in investing in the current IBM i platform. The fresh evidence from a few distinct surveys, not simply the one executed by means of HelpSystems every year, means that agencies are through and stout either continuing to Make investments in the platform and even in some circumstances are planning to raise their spending on the IBM i platform in 2019.

As you could see, the pattern of investment plans for the IBM i platform, as shown within the chart above, has not changed very a lot at each and every in the past four years. it is a remarkably solid pattern with however a shrimp wiggling here and there that may additionally now not even exist statistically massive. simply beneath 1 / 4 of IBM i shops own mentioned in the past four years that they contrivance to boost their investment within the platform in every yr, and simply below half content that they're retaining consistent. This doesn't weigh in that the equal companies, 12 months after 12 months, are investing greater and other agencies are staying pat, yr after year. it's course more seemingly that each handful of years – extra fancy four or five – consumers upgrade their methods and expand their capability, and they then sit down tight. The query yourself is that the wreck up isn’t displaying some distance fewer companies investing and far extra sitting tight. That greater than a tenth of the shops don’t know what their contrivance is as each and every prior yr involves a particular is reasonably traumatic, but it surely is honest and shows that a significant portion of outlets own other priorities apart from hardware and operating device upgrades. they own observed this before and they can content it once again: They contemplate that the americans who respond to surveys and read weekly publications focused on the IBM i platform are the most energetic retail outlets – those more more likely to dwell particularly existing on hardware and software. So the pace of adoption for brand novel technologies, and the rate of funding, should silent exist greater than within the exact base, tons of which doesn't exchange a all lot in any respect.

So if they needed to alter this records to purchase on the entire base, there can exist a long course fewer sites that are investing more funds, course more groups that are sitting tight, and perhaps fewer websites which are considering touching off the IBM i platform. I deem the distribution of data is probably anything fancy 10 % of retailers own no view what they're doing investment perspicacious with IBM this yr, 5 % are considering relocating some or each and every of their applications to a different platform, possibly 10 % are investing extra this yr, and the final seventy five % are sitting tight. here's just a wager, of direction. so far as they are able to tell, the cost of attrition – what number of sites they in fact lose each 12 months – only a tad over 1 %. So the fee of movement of purposes off the platform, or incidences of unplugging IBM i databases and applications, may now not exist anywhere immediate as extravagant in the tolerable groundwork because the facts above suggests. what is alarming, possibly, is that the fee of relocating some or each and every purposes off the platform is balanced in opposition t people who content they're going to enhance investments. possibly these are hopeful survey takers, and people who suppose it is effortless to hurry ascertain it isn't and those who suppose they're going to find the funds to Make investments will now not.

What they Do understand is that if the cost of application attrition turned into anywhere near as lofty as these surveys suggest, then the IBM i company would not exist transforming into, however shrinking. And they understand it isn't shrinking, so they believe there is a disconnect between planning and reality, both on the upside and the draw back.

if you drill down into the statistics for the 2019 IBM i marketplace Survey, there were 13 percent of outlets that said they'd exist touching some purposes to a novel platform, and one other 9 % that said they were going to circulate each and every of their purposes off IBM i. (This quantity is consistent with the concurrent ALL400s survey completed via John Rockwell.)

Anyway, respectable success with that.

Porting functions from one platform to another, of purchasing a brand novel suite on that novel platform, is an exceptionally problematic project. It is not fancy trying to trade a fatigue whereas riding down the highway, as is a typical metaphor, but reasonably fancy attempting to purchase the fatigue off one car relocating down the motorway and installing it on an extra motor vehicle using beside it within the adjacent lane with out crashing either automobile or smashing into anyone else on the road. Optimism abounds, however when propel comes to shove, very few organizations are trying this sort of maneuver, and when they do, it's usually as a result of there's a corporate mandate, greater instances than not led to by using a merger or acquisition, that pits another platform against IBM i operating on energy programs. groups that content they are making such a hurry off IBM i are sanguine for their personal personal motives, most likely, but they aren't always practical about how lengthy it may take, what disruption it'll cost, and what top-quality advantage, if any, could exist realized.

in case you Do the math on the chart above, eight-tenths of the bottom has no thought how long a flood will take, an additional 1.7 percent thinks it's going to purchase more than five years, and three percent content it'll purchase between two years and five years. handiest 3.4 p.c of the total groundwork content they can Do it in beneath two years. They believe each and every of those numbers are positive, and the groups who may easily depart OS/four hundred and IBM i already did a very long time ago and people that are continue to exist own a harder time, now not a less complicated time, moving. If this own been now not true, the IBM i groundwork can exist a hell of lots smaller than the one hundred twenty,000 shoppers they suppose are accessible, in accordance with what huge Blue has informed us in the past. this is the change between solicitude or power or course of life and the veracity of trying to stream a company off one platform and onto an extra. These moves are each and every the time lots more durable than they contemplate on the front conclusion, and they suspect lots of the advantages furthermore don’t materialize for those who Do leap platforms.

on the typical attrition cost suggested with the aid of this survey records – 9 % flood off the platform in someplace between twelve months and more than 5 years, with most companies now not being able to descry more than five years into the long eschew this is a super trick – the locality in groundwork would subside dramatically. it is tough to pretension how some distance because of the wide selection of timeframes within the survey. If it become 9 % of the groundwork within two years – title it 4.5 % of the bottom per yr – then within a decade the accustomed groundwork would shrink from a hundred and twenty,000 IBM i websites international privilege down to about seventy two,000. this is able to melodramatic indeed. but at a 1 p.c attrition cost per year, the groundwork continues to exist at 107,500 wonderful valued clientele (now not websites and not locality in machines, both of which are larger) by means of 2029. They feel there is each opening that the attrition cost will definitely leisurely and drop below 1 percent as IBM demonstrates commitment to the power systems platform and its IBM i operating device. There are always some novel customers being brought in novel markets, to exist sure, however the bleed cost (besides the fact that it is small) continues to exist doubtless an order of magnitude higher than the feed price.

once they Do believe about making the circulation, IBM i stores recognize precisely where they need to go, and this retort has been steadily altering over the years: Linux as an alternative election to IBM i is on the upward propel and home windows Server as an option is on the wane. within the newest survey, fifty two % of the groups that spoke of they had been relocating each and every or a few of their functions to an extra platform said they were choosing home windows Server, whereas 34 percent chose Linux. This displays the relative popularity of windows Server and Linux in the datacenters of the realm at giant, and can exist tipped just a shrimp greater heavily towards Linux compared to the relaxation of the area. interestingly, 10 percent of these polled who spoke of they own been relocating own been taking a contemplate at AIX systems, and one other four % had been going upscale to system z mainframes – as not likely as this might furthermore seem to be. platforms are inclined to roll downhill; they Do not continually brave gravity fancy that.

The aspect about such surveys is that they demonstrate intent, no longer motion. They frequently intend to Do a lot more than they in fact can accomplish, and relocating platforms after spending decades of build up competencies isn't always a extremely sensible hurry unless the platform is in actual crossroad – fancy the Itanium methods from Hewlett Packard commerce running OpenVMS or HP-UX or the HP 3000s working MPE or the Sparc methods from Oracle working Solaris. These were once first rate systems with big locality in bases and tremendous revenue streams, but now, IBM is the closing of these Unix and proprietary structures with its energy methods line. And it is by using a long course the greatest and for positive the only one showing any increase.

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The IBM i groundwork no longer As Jumpy because it Has Been

The Feeds And Speeds Of The IBM i Base

IBM i Priorities For 2017: Pivot To protection

IBM i trends, considerations, And Observations

IBM i Survey gets more advantageous As Numbers grow

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IBM i market Survey Fills within the Blanks

IBM Updates Its Storage Portfolio | real Questions and Pass4sure dumps

February 5th, 2019 by means of Adam Armstrong

per week out from its annual feel event (this 12 months in San Francisco) IBM has made a handful of enhancements to its storage portfolio. These enhancements eschew the gamut from containers to blockchain to IBM’s Cloud deepest. The enterprise has furthermore made enhancements to its AI apparatus and information protection portfolio. 

because the technological landscape stays in a condition of flux, providers deserve to constantly innovate to hold tempo and Make purchasers jubilant and productive. ultimate year they own been delivered to IBM Storage options, a line of all-in-one choices. in accordance the enterprise, IBM Storage options are driven by means of pre-verified and validated reference architectures (blueprints) designed to Make deployment of those solutions simpler, quicker, and reduce risk. IBM Storage options cover capability, hardware, utility, and servers. considering that its introduction IBM has been including novel options to tackle novel precise-world topic that need to exist tackled. 

For the very promising blockchain expertise, the company has added the brand novel IBM Storage retort for IBM Blockchain. As blockchain can assist secure and maintain data sovereignty necessities it has a couple of uses in a considerable number of industries. IBM storage is supple ample for expend with blockchain to both store records on-chain or off-chain. Capabilities of the novel solution consist of:

  • Improves on- and off-chain data resiliency and performance with business-proven NVMe-based IBM FlashSystem 9100 or LinuxONE Rockhopper II infrastructure.
  • Reduces verify, edifice and deployment time for each on/off-chain solutions, enhancing time to novel gains from days to hours.
  • raises blockchain safety with a hundred% application and statistics encryption aid.
  • raises information resiliency with a utility-defined architecture that includes IBM Spectrum Virtualize, IBM Spectrum reproduction facts administration and IBM Spectrum protect Plus.
  • IBM has two bulletins surrounding its IBM Cloud inner most for facts offering. The retort is now supported on its NVMe-primarily based IBM FlashSystem 9100. And the company delivered the IBM Storage solution for Analytics. This options helps with the infrastructure challenges of imposing the newest multicloud records analytics and AI applications. advantages encompass:

  • Unifies and hurries up facts assortment, orchestration and evaluation, while decreasing time to value.
  • Simplifies Docker or Kubernetes container utilization for brand spanking novel analytics-based functions.
  • raises statistics safety inner the inner most cloud by means of assisting FIPS 140-2 encryption.
  • Leverages on-premises statistics storage while adding cloud-based mostly analytics equipment.
  • besides the above, IBM furthermore better its Spectrum Storage household. These enhancements encompass:

  • improved the blueprint for IBM Storage retort for IBM Cloud inner most with unstructured facts assist through IBM Spectrum Scale, giving consumers an uncompromised alternative of persistent file storage together with the latest back for obstruct and expostulate storage resources.
  • IBM Cloud expostulate Storage (COS) now presents an integrated NFS/SMB entry for expostulate storage that gives an easier and more within your budget solution to examine and write file statistics at once to IBM COS.
  • IBM Storage

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    IBM aims To hurry SAP consumers to Its SmartCloud provider | real Questions and Pass4sure dumps

    IBM aims To flood SAP purchasers to Its SmartCloud service

    IBM has offered SAP consulting, integration and implementation capabilities for decades so it's going to approach as shrimp amaze that it's seeking to migrate these purchasers to the cloud. What's outstanding is that an not likely rival beat big Blue to the punch -- and i'm now not relating to Accenture, Capgemini or Hewlett-Packard.

    Amazon web capabilities and SAP made a stout splash together at re: Invent, AWS's first-ever consumer, developer and partner convention held in late November. AWS has certified SAP's key choices to eschew in EC2, including the SAP commerce Suite, HANA One, company All-in-One, commerce Objects BI options, SAP speedy Deployment options (RDS) and Afaria.

    while greater consumers by course of a long course expend Amazon's EC2 to host their systems and apps than another cloud carrier issuer, IBM officers are not concerned about their consumers fleeing. Dennis Quan, IBM's VP of SmartCloud capabilities, argues Amazon cannot suit IBM's 99.7 percent SLA combined with its commerce Consulting capabilities and trade-certain SAP capabilities. As you may don't forget, IBM again in October launched SmartCloud application capabilities (SCAS), a platform as a carrier (PaaS) offering for organizations to eschew production applications. this is the primary SCAS deliverable and Quan instructed me on Monday that it goes beyond simply letting shoppers host SAP circumstances.

    "What we're doing is edifice on a groundwork of committed services to commercial enterprise valued clientele and coupling that with particular potential in SAP," Quan stated. For now, IBM is simply providing the SAP company Suite and company Objects BI portfolio as a managed PaaS offering. requested if there are plans to back other SAP products, in particular HANA, the company's swiftly becoming in-reminiscence database platform, Quan referred to IBM is rarely organized to dispute future choices.

    IBM of course has its own database choices, particularly DB2, and a lot of of its SAP shoppers already expend it. requested if his enterprise has issues that purchasers will elect HANA over DB2, Quan didn't rule out providing SAP's database. "Our purchasers eschew a number of workloads," he stated. "a lot of then Make expend of IBM technologies and plenty expend technology from competitors."

    The SAP carrier is the first of a few software as a service (SaaS) offerings IBM will tender beneath its SmartCloud umbrella within the coming year, in response to Quan.

    Posted by course of Jeffrey Schwartz on 01/29/2013 at 12:48 PM

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    Commvault Systems, Inc. (CVLT) Q2 2018 Earnings Conference summon Transcript | real 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 fancy to introduce 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 pecuniary Officer.

    Before they begin, I'd fancy to remind everyone that statements made during this call, including in the question-and-answer session at the discontinuance of the call, may comprehend forward-looking statements, including statements regarding pecuniary projections and future performance. each and every 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, gladden descry the risk factors contained in their Annual Report in profile 10-K and their most recent quarterly report in profile 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 development 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 furthermore has been furnished to the SEC as an 8-K filing. The press release is furthermore available on their Investor Relations website.

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

    Commvault adopted the novel revenue benchmark ASC606 on April 1, 2017. Their adoption was done on a retrospective basis, each and every prior periods in their pecuniary statements own been adjusted to comply with the novel rules.

    As a result, the results and growth percentage they will dispute today are on a comparable basis using the novel rules. each and every 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 furthermore comprehend a skid presentation as fragment of Commvault prepared remarks to facilitate updates on their Commvault forward initiatives. These initiatives comprehend an update on their transition to subscription revenue models, as well as their recent operational review. The slides furthermore cover their announcement of novel multi-year revenue and operating margin targets. If you've not done so already, I would intimate logging into the webcast now to view or download a copy of the slides.

    Please furthermore note that in order to best descry the slides, they intimate enabling complete screen skid mode within the webcast. In addition, the slides can furthermore exist 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 exist available on their website following the call.

    I will now turn the summon over to Bob.

    Thank you Mike, and well-behaved 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 commerce model transformation to deliver shareholder value called Commvault Advance, including an update on the progress they own made to accelerate their transition to subscription revenue models, the results of their recent operational review, which includes the announcement of novel multi-year revenue and operating margin targets, and an update on their participate repurchase program. Let me briefly summarize their Q2 pecuniary 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 participate versus $0.21 in the prior fiscal year.

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

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

    As a reminder, final quarter they were implementing a major corporatewide transformation called Commvault Advance. gladden purchase note that Commvault issued a press release this morning, outlining the significant progress they own made since announcing Commvault forward in May.

    The goals of Commvault forward are to establish a tenacious foundation to better revenue, while at the same time achieving much improved operating margin leverage. The implementation was a culmin turning to their equipoise sheet and cash flows in the first quarter cash and short-term investments were partially 1.1 billion ation of a couple of years of pains 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 forward related changes they made during the quarter, including reorganization of their sales and distribution organizations, which in fragment shifted a significant percentage of realm resources to back their channel and alliance partners and major simplification of both products pricing to Make 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 remainder of FY 2019.

    Based on the early results of these changes, they are already seeing improved momentum and own seen a keen enlarge in funnel growth, tenacious order flood in October and solid forecast from the field. However, given the early stage of their transformation, they contrivance to remain conservative with their near-term outlook until they can validate the positive churn of the commerce 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 purchase odds of the major shift in the market and significantly improves their faculty to execute their strategy and drive revenue and earnings growth.

    Commvault forward leverages their force 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 faultfinding issues related to cost, cyber compliance in the cloud, which I summon the 4Cs.

    As data scale increases, they are furthermore well on their path to their exit by scale in their platform. They now own 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 lucid technology leader and migrating and managing data in the cloud with IBM's $35 billion acquisition of Redhat this weekend, there will exist additional focus on cloud and Commvault is well positioned to purchase odds 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 fragment of Advance, they are laser focused on improving their faculty to accelerate revenues through a much stronger sales and distribution. These efforts own been further bolstered with the recent hiring of several sales leaders with tenacious 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 commerce model optimization changes that will deliver shareholder value comprehend 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 element of Commvault forward is to create and enhance expanded and simplified product portfolio, which includes product innovations that Make it easier for customers to install and expend their products and changes to packaging and pricing structures to Make 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 calamity recovery, data test and data migration, particularly in the cloud and fourth, Commvault Activate, which is designed to back customers know their data and then ascertain and extract novel commerce insights from data under management whether that data is on-premise or in the cloud.

    All these products own 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 comprehend 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 exist fully integrated with the HPE store once appliances. The integration will allow backup data to exist moved natively to the cloud or back to on premise. They hope this integration to exist 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 realm organizations and locality 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 commerce opening represented by their alliances with each and every of these leading technology vendors and believe that these relationships will drive significant opening for Commvault going forward.

    Let me talk about their transition to subscription pricing. beginning in fiscal 2018, they began transitioning a significant portion of their novel 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 privilege long-term model in order to drive, better 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 couple 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 equipoise 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 better their business, one thing they will not change is their commitment to innovation and delivering world-class solutions and back to their customers. As they identified economies in their cost structure, they own not decreased their investment in R&D or customer back 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 partner 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 better IT resource utilization, purchase immediate actions to mitigate damage from a cyber assail and provide real time alerts on faultfinding issues.

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

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

    Now that the foundation of Commvault forward 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 participate in big enterprises with the journey to the cloud and solutions to back customers mitigate and regain from a cyber assail with highly automated, machine learning and synthetic intelligence aided data protection, calamity recovery and intrusion detection and mediation.

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

    In summary, the implementation of the Commvault forward 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 locality for the company to execute and deliver improved pecuniary performance.

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

    Brian Carolan -- Vice President and Chief pecuniary Officer

    Thank you, Bob and well-behaved morning everyone. In addition to covering the traditional pecuniary highlights for the second quarter of fiscal 2019, I will furthermore expend time updating you on the progress they own 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 furthermore update you on the results of their recent operational review, which includes the announcement of novel multiyear revenue and operating margin targets. And lastly, I will provide you an update on their participate repurchase program.

    In addition to their earnings release issued earlier this morning, they furthermore own made available a presentation on the Investor Relations section of their website and furthermore 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 enlarge of 1% over the prior year period. On a sequential constant currency basis, total revenue would own 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 tolerable 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 forward and found significant efficiencies in their cost structure, which included reducing their overall headcount by approximately 7% since the beginning of the fiscal year. They ended the September quarter with 2,644 employees.

    In addition, as they depart 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 own an adverse impact their product development 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 tolerable participate weigh 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 tolerable participate weigh for complete year FY '19 will exist approximately 48 million shares.

    Let's now change gears and expend 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 final six quarters has been very successful.

    For the sake of clarity and transparency, they are introducing two revenue metrics to back investors track the growth and progress of their subscription revenue transition. As you will see, subscription revenue is becoming a larger portion of the commerce 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. skid 9 in their presentation includes a chart that summarizes revenue based on how it is recognized and if it is potentially repeatable, nearly each and every of Commvault software and product revenue is related to solutions that are eschew in the customers on-prem environment for cloud infrastructure.

    We currently Do not own 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 wholehearted 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 own intentionally used the word repeatable and not recurring to characterize 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 era of sale.

    The only exception to this point in time recognition principle for their software products is sales of their pay as you depart 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 back services. Note that unlike software, their maintenance and back services on both perpetual and subscription software arrangements are recognized ratably over the condense term.

    Slide 10 includes a summary of the benefits of subscription models. They own heard from many of their enterprise customers that consumption-based pricing such as subscription arrangements is very lofty 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 hurry 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 commerce and technology. If subscription arrangements Make 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 contemplate at a simple representative illustration 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 skid 11, they own 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 back and maintenance. Each year that this customer renews their back maintenance, Commvault receives $45,000 of revenue. The total cost over a three-year era 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 cost is inclusive of both software and maintenance and support. Over time typically, after the first read each and every (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 furthermore realize other pecuniary 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 novel metric not previously discussed, but widely used in the industry and that is annual condense 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 skid 13, as eminent 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 back revenue on these arrangements.

    The amounts included on the recurring back and services row is primarily maintenance and back revenue related to existing perpetual software arrangements. They would deem approximately 71% of their Q2 total revenue to exist 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 skid 14. Subscription-based pricing represented a record 43% of software and products revenue in Q2, which compares to 17% in Q2 of final year.

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

    The second metric, I would fancy to dispute is the subscription and utility annual condense value or ACV, which is shown on skid 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 lively subscription contracts value, inclusive of revenue that was recognized as either software or back services, annualized for a 12-month equivalent value plus two, the annualized value of lively utility or pay as you depart usage billings.

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

    This metric will exist a valuable data point to demonstrate the growth of their subscription and utility-based pricing models that they hope to drive novel 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 era of selling subscription licenses. Importantly, ACV is accelerating and achieved approximately 90% year-over-year growth this quarter.

    As fragment of their Commvault forward 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 fancy to expend the next few minutes addressing both their near-term pecuniary outlook and their longer-term operating targets. As outlined in today's press release, they own been making well-behaved progress within their Commvault forward framework across each and every 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 pecuniary performance of the company, while they hope that the changes they own made to products, pricing, distribution and partnerships will drive future revenues and operating leverage, they furthermore took actions to align their cost structure with a reasonable revenue growth target.

    As Bob discussed earlier, the implementation of the Commvault forward initiatives resulted in near-term disruption that did not allow us to achieve their Q2 and near-term topline objectives. They are furthermore conservatively planning for modest revenue growth in Q3 and Q4. They hope third quarter total revenue to exist 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 tenacious 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 exist approximately 15% and the complete year FY '19 EBIT margin percentage to exist approximately 14.7%, which is a 380 basis point improvement over the prior year.

    While their strategic fundamentals are tenacious and their faculty to execute has improved, they silent kisser faultfinding challenges. It is famous to note that Commvault forward 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 forward are in place, there is a certain element 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 own discussed for many quarters, they are currently reliant upon a constant inflow of big six and seven-figure deals, which approach with additional risks due to their complexity and timing.

    While they furthermore need to better their immediate rates on these deals, big deal closure rates will likely remain lumpy, particularly in the near term. And lastly, while they are jubilant 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 own a dampening sequel on revenue, but they believe will ultimately result in a higher lifetime value. As previously stated, fiscal '19 will exist impacted by the near-term disruption of the changes they implemented that as fragment of their Commvault forward 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 furthermore exist a key component of their improved pecuniary performance. As you can descry on skid 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 opening 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 condense value.

    As previously discussed, their current ACV is approximately $76 million. Their goal is to achieve approximately $240 million of subscription and utility annual condense value by the discontinuance of fiscal '21. The $240 million goal is approximately eight times the ACV they stated with when they began their hurry 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 forward 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 equipoise sheet and cash flows. As of September 30, their cash and short-term investments equipoise 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 alien locations from $197 million as of June 30 to $130 million as of September 30.

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

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

    Free cash flow, which they define as cash flood 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 equipoise was approximately $316 million, which is an enlarge of 7% over the prior year period. Nearly each and every of their deferred revenue is services revenue that has been invoiced to customers.

    Lastly, let me update you on their participate repurchases. During fiscal 2019, which includes transactions through yesterday, they own repurchased approximately $47 million or approximately 707,000 shares of their common stock at an tolerable 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 participate 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 fancy to expend a few minutes talking about Commvault depart and the novel products they announced during the show. They hosted their Annual Commvault depart User Conference earlier this month in Nashville. Registration exceeded final year's total with approximately 2,200 customers, prospects and partners in attendance.

    We announced a number of novel products and services including an exciting novel course for customers to interface with their software called Commvault Command Center, novel 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 lone console for managing Commvault's complete portfolio of products across an entire enterprise on premise, cloud and discontinuance point infrastructures.

    The Command seat 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 faculty to purchase corrective actions.

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

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

    These solutions will exist available within cloud marketplaces for ease of acquisition and deployment. Customers can purchase the services as a Pay As You depart license or as a fixed term subscription. They furthermore expanded the company's family of appliances with addition of two novel appliances. The novel 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 novel 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 perfect for remote office and branch offices.

    All of their appliances can exist used to seamlessly backup data on-premise or hurry 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 furthermore delivered a keynote presentation that outlined novel 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 novel industry benchmark for what it means to exist complete and backup and recovery solutions. Advances in machine learning and AI will create a sales driving fancy experience that redefines how customers engage with their software. This is made viable through the capabilities of the novel Commvault Command Center.

    Secondly, the simple SmartCloud highlighting Commvault's faculty to deliver a plight 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 wholehearted extension of a modern on-premise data center.

    And lastly, they continue to better customers' scholarship 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 novel 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 course and the search committee is making well-behaved progress.

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

    We own made comprehensive operational changes over the final 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 beginning of the year were evidenced in the 61% year-over-year EBIT improvement. Now that the foundation of Commvault forward 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 exist focusing their efforts on executing the key elements of Commvault forward where they already own a solid already -- where they already own solid proof points of success.

    Our objective is to Make positive they achieve their near-term pecuniary objectives while solidifying their Commvault forward 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 gladden open the line for questions?

    Questions and Answers:


    (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 own one for Bob and one for Brian. I'll start with Brian. Hey Brian, thanks for the detail on the hurry 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 privilege as you badge 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 query Bob the next question.

    Brian Carolan -- Vice President and Chief pecuniary Officer

    Sure. well-behaved 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 era of sale on the software portion.

    The only thing that goes into deferred revenue potentially would exist the maintenance that's attached to that, just fancy a commonplace arrangement under perpetual model. It's the same kind of carve out for maintenance and back that gets deferred over the contractual term.

    So you don't descry it demonstrate up in deferred. It actually shows up in era 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 well-behaved visibility into the traction that we're making on more repeatable revenue models.

    Joel Fishbein -- BTIG, LLC -- Analyst

    Would you own a backlog number then, fancy in terms of total condense backlog or is that not a metric that might exist meaningful?

    Brian Carolan -- Vice President and Chief pecuniary Officer

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

    Joel Fishbein -- BTIG, LLC -- Analyst

    Okay. Great. And then Bob just for you, what gives you aplomb that you can grow 9% next year? Obviously you're making a lot of changes privilege 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 weigh in substantial uptick in funnel flood 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 each and every 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 enlarge in big deal and flood furthermore gives us optimism for this current quarter and it's continued.

    And secondly, as I discussed in my remarks, they now own a much stronger distribution position and although that's going to purchase a shrimp 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 commerce and furthermore that is furthermore being driven by a much stronger partner and alliance relationships in the enterprise.

    And from the midmarket standpoint, they are seeing well-behaved traction with their appliances in Commvault Complete and novel pricing. So the all foundation at Commvault Complete was not try to Make changes here. That's why it goes back a couple years to Make 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 contemplate we've done this the privilege course although it had some attended risks as they made these massive changes final quarter.

    Joel Fishbein -- BTIG, LLC -- Analyst

    Great, thank you.


    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 depart back to that final question and just understand the variables at play to underpin what looks to exist a 17%-plus sequential enlarge in your implied software license revenue this quarter.

    I contemplate with that in mind, it would exist 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 enlarge conservatism sane 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 weigh in it's -- we're talking about a very major enlarge in the growth of funnel, particularly in big enterprises and particularly in the Americas and the assumptions we're making on funnel immediate what I summon reasonable and Brian can retort that question.

    So we're not putting stout immediate 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 furthermore contemplate really well-behaved relative to the guidance they just provided.

    Brian Carolan -- Vice President and Chief pecuniary Officer

    Yeah, I contemplate just to succeed on with Bob's point, we're using fairly typical and tolerable immediate rates applying that to the current quarter funnel. Again, they descry a well uptick in their enterprise deal funnel heading into this quarter, which we're pleased with. Although I did content that could exist 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 kindhearted of validates what you saw it depart 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 contemplate final quarter Bob, in response to your question, you said that basically 98% I contemplate was the number that the total sales constrain realignment efforts own been completed.

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

    Robert Hammer -- Chairman, President and Chief Executive Officer

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

    Aaron Rakers, -- Wells Fargo -- Analyst

    Okay, thank you.


    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 Make the remark that the search committee is making very well-behaved progress on the CEO search.

    Jason Ader -- William Blair -- Analyst

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

    Robert Hammer -- Chairman, President and Chief Executive Officer

    Well, the only validation is for us to hit the numbers. That's the only real validation. each and every I can content 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 kindhearted of deals and they're accelerating.

    So we've got that, that's real and these deals are well scrubbed and they're touching through the funnel well. In addition, we've never had the force 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 contemplate 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 exist lucid about this, if you contemplate at their platform for the cloud, a real 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 contemplate there is a stronger platform in the industry than what they own here at Commvault.

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

    I contemplate we're seeing the real traction from the consolidation taking locality in the enterprise across the Board for data management functions. I contemplate cyber is a stout driver of that and we've had really well-behaved success in taking major customers and they when they regain from major cyber attacks, they had most present at their depart Conference as a well-behaved illustration of that.

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

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

    Jason Ader -- William Blair -- Analyst



    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. well-behaved morning. So looking at skid 21, your assumptions for repeatable revenue growth intimate growth of just 17% in fiscal '19. I contemplate that decelerates to about 16% by fiscal '21, despite the mingle continuing to increase.

    Is that factoring in cost 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 pecuniary Officer

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

    Andrew Nowinski -- Piper Jaffray -- Analyst

    Okay. honest 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 faculty 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 final quarter they basically took the realm out for about six weeks as we're going through this all 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 contemplate what we've stated is accurate, that you can't draw any long-term conclusion from what happened final quarter, they really believe that the majority of that was disruption.

    Andrew Nowinski -- Piper Jaffray -- Analyst

    Okay, thanks, Bob.


    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 own a question for Brian and then maybe a follow-up for Bob. So Brian thanks again for each and every that information on the transition of this subscription model, that's each and every really helpful. But when they contemplate at that -- the utility revenue, I contemplate that's one piece that's going to cause some questions and I just want to Make positive they understand that.

    Can you order us about what the size or the percentage or the revenue of that revenue is fancy 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 pecuniary Officer

    Sure. So the utility portion of the subscription revenue or repeatable revenue is actually -- it's relatively small in the august scheme of the total. I would content that their retention rate is extremely lofty 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 eschew rate that is reasonably predictable for us. And it's not -- the majority of the revenue is not even immediate to that. They didn't content 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 own a pretty lofty retention rates. So that's well-behaved to hear. Okay. And Bob listen, so just to depart along some of the questioning here, Commvault always had tenacious 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 tenacious vision in compelling and discontinuance product, but go-to-market execution seems to own been spotty over history.

    And you said this in this quarter, the disruption was greater than you expected and so we've heard fancy in the realm of fancy higher than commonplace willing sales personnel attrition and it's -- so that seems fancy the disruption is going to exist -- it's going to persist here and I guess how Do you regain from that?

    I know you're trying to shift more to partners, but that furthermore increases some risk to any kindhearted of shift those right. So I guess to some of those questions around fancy how Do you feel confident about 9% growth next year, is it the fact that you just don't need 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 exist pretty famous here.

    Robert Hammer -- Chairman, President and Chief Executive Officer

    Now, let's exist clear. Sales is silent really faultfinding and the amaze if you want to summon it a amaze is we've always been tenacious in the enterprise and it drove a lot of their growth in their early years.

    And the enterprise for a couple of years shifted to buying point products, the next shiny box or whatever and that began shifting probably about six months ago, maybe a shrimp longer so a consolidated holistic play in the enterprise and that's really accelerated and those -- that all sequence of, stand 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 tenacious 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 retort is sales for their commerce is silent extremely famous and yes, there's no doubt when you Make major changes fancy this and these are fundamental. They didn't try to troop 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 course through that. But I contemplate it will exist manageable, because they got so many strengths now for their salespeople to hit their quotas and Make a lot of money.

    John DiFucci -- Jefferies -- Analyst

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

    Robert Hammer -- Chairman, President and Chief Executive Officer

    Yes, and contemplate some of that goes on when you Make major change.

    John DiFucci -- Jefferies -- Analyst

    Yeah, OK. Well thank you guys.


    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. well-behaved morning. I just want to succeed up on that final question, Bob, are you taking any specific actions with your top reps to incentivize them, specifically to abide on for the next couple of quarters as you depart 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 retort is just in common they are taking specific action in specific cases and trying to Make it easier for their sales teams to rate 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 final couple of earnings calls around a couple of emerging platforms that are competing in the channel, just any kindhearted 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 each and every the competitors, legacy and the novel competitors in the midmarket and certain, I'll summon lower scale deployment enterprise. They clearly descry the novel converged guys in the market and they own 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 own a really lofty 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 depart course beyond their capability, particularly in their faculty to hurry data into the cloud to manage it in the cloud and manage it back for a data protection that each and every the automated and orchestration capabilities they own for debt test DRs and a class by itself now.

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

    Alex Kurtz -- KeyBanc Capital Markets -- Analyst

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

    Brian Carolan -- Vice President and Chief pecuniary Officer

    No, they didn't locality a number on that. I'd content 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. each and every right, thanks guys.


    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 couple 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 own they done differently this year versus past years?

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

    That agreement was completely novel agreement that was executed this summer and basically went into market over the final couple of months. They own significant deals in the funnel with them that are real that will most likely immediate this quarter.

    In addition to that, for example, HB had 30 people at their partner conference this year and they've had of storage that's working with us profile globally, each and every their major accounts with Commvault, so that's really well-behaved on the ground integration with HP. So they locality the resources, they own the aligned plays. We've got pricing. So they got I'd content extremely well-behaved alignment with them and they're putting a lot of resource behind their partnership.

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

    Al Bunte -- COO

    Yeah, and I contemplate NetApp is similar to what Bob just said on HPE. Lots of programs, lots of campaigns, lots of sales initiatives, but I contemplate overall, one that Bob didn't talk about, it's applicable across each and every of their major particularly storage or infrastructure partners is their faculty 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 each and every predicted that there's going to exist a huge amount of movement in this direction.

    We furthermore contemplate 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 kindhearted of trend.

    Robert Hammer -- Chairman, President and Chief Executive Officer

    Yean and Al just made a really well-behaved 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 faculty to seamlessly manage data on premise and in the cloud across an enterprise is a major strategic odds versus anybody out there.

    Eric Martinuzzi -- Lake Street -- Analyst

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

    Brian Carolan -- Vice President and Chief pecuniary Officer

    Higher flat of integration.

    Robert Hammer -- Chairman, President and Chief Executive Officer

    And to exist lucid in HPE case and they Do own 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.


    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 each and every disconnect. Everyone own a much 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 pecuniary 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

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