Veritas wants more revenue out of APAC

LAS VEGAS, USA-- #VeritasTechnologies is looking to Asia-Pacific to drive the company's growth, but acknowledges the need to first offer more localisation and increase its investment in the region. With economic expansion sluggish in Europe, although the software vendor still was growing "slightly" in the region, Asia offered the most potential in driving future growth for the company, said Veritas CEO @BillColeman. "The world's fast-growing markets are there and future largest global markets are there," he said, noting that China and India together already accounted for 35 percent of the world's population.  Speaking to ZDNet at the software vendor's annual Vision conference here this week, Coleman noted that China already was Veritas' largest market outside the US, the latter of which was growing at mid-single digits. "I would want Asia-Pacific to grow at least double that," he said. The region currently contributed just under 20 percent of the company's overall revenue, but with Asian economies growing much faster, this was expected to increase to 30 percent in early 2020s, the CEO said. He added that this figure would be equal to Europe's current revenue contribution of about a third. To get there, however, Veritas would have to better focus on meeting the needs of Asian countries, he said. "Frankly, we've under-invested in some markets including Japan and Malaysia," Coleman admitted, noting that a new Japanese business lead recently was appointed to plug this gap.  He added that the vendor had made good progress in other markets such as Australia, which was half the size of its Chinese business, and South Korea, as well as moderate progress in Singapore and Taiwan. "We've got to be better and faster in coming out with localised products for the region. For one, we need simultaneous releases instead of [making customers in Asia] wait a quarter or two," he said. "We're working on that."
http://www.zdnet.com/article/veritas-wants-more-revenue-out-of-apac/