BASKING RIDGE, N.J. - A leading global growth consulting company has named Verizon Business tops for global network services to large-business and government customers.
Verizon Business is the 2006 recipient of Frost & Sullivan's Product Line Strategy Award for Enterprise wide area networking (WAN) services. Verizon Business was recognized for its ability to introduce new wide-area networking products that are strategically positioned to balance its already robust overall product line.
The Frost & Sullivan Award for Product Line Strategy is presented each year to a company that has demonstrated the most insight into customer needs and product demands.
"This award further validates our strategy of delivering a global suite of WAN services with a consistent look and feel," said Nancy Gofus, senior vice president and chief marketing officer, Verizon Business. "Our product set underpins the next-generation services our customers require to do business better around the world. As a global networking and IT leader, we will continue to invest in and lay the right foundation for large businesses and government agencies to communicate and operate reliably and seamlessly around the globe."
Rolling out new and enhanced service offerings continues to be a key priority for Verizon Business. In a separate announcement Wednesday (March 21), the company unveiled global enhancements to its fast-growing Private IP service that include extended in-country reach, improved service level agreements, a sixth class of service and enhanced reporting features.
Frost & Sullivan specifically highlighted Verizon Business' November 2006 expansion of its Ethernet Virtual Private Line (EVPL) International service from the United States to six countries and territories in the Asia-Pacific region as a key enhancement to the company's existing Enterprise WAN portfolio. That expansion enables U.S. and multinational companies with locations in Australia, Hong Kong, Japan, Korea, Singapore and Taiwan to have access to Verizon Business EVPL International as a standard service and also may enable such companies to connect within their respective regions, Frost & Sullivan noted.
"Since its purchase of MCI, Verizon has been aggressively expanding its reach and service portfolio on a global basis," said Maria Zeppetella, research analyst with Frost & Sullivan. "The expansion of Verizon Business' EVPL International service enhances its already strong Ethernet portfolio."
In addition to the EVPL expansion, Frost & Sullivan also noted Verizon Business' plans to introduce Ethernet Virtual Private LAN Service in the United States - which was announced March 12 - and the company's plans to expand that service to other countries in 2008 as support for its winning product-line strategy to increase the variety and depth of services available to multinational corporations. Frost & Sullivan also noted that Verizon Business plans to extend its reach via additional fiber deployment and extending transmission service to more buildings where fiber has already been deployed, and is open to exploring WiMax as another access option.
Frost & Sullivan noted that Verizon Business' recent product rollouts are strategically positioned to balance the company's Global Enterprise WAN solutions product line. That portfolio currently includes: Ethernet Private Line, Ethernet Virtual Private Line, Ethernet Access for Private IP and the Internet, and Ethernet Virtual Private LAN Service; Private IP and IP VPN Dedicated; Frame Relay; ATM; and Global Private Line Service.
The total Global Enterprise WAN Services market is expected to grow at a compound annual rate of 10.8 percent through 2013, with market revenues expected to reach $40.6 billion by 2013, the report said.
According to Frost & Sullivan, market drivers in the enterprise WAN services market are dominated by globalization and the expansion of multinational corporations, which require communications that are immediate and real-time. This includes both enterprises that are just starting to expand to other regions as well as already established multinationals that are continuing to expand into additional regions. In both cases, the report noted, global WAN connectivity is key for communications between headquarters and branch offices, as well as manufacturing facilities.
Steady migration from legacy services to newer technologies will continue as enterprises seek more bandwidth, convergence, better management and increasing value-added services for their enterprise WAN expenditures, the report said.
About The Frost & Sullivan Product Line Strategy Award
The Frost & Sullivan Award for Product Line Strategy is presented each year to a company that has demonstrated the most insight into customer needs and product demands. The recipient company should have optimized its product line by leveraging products with the various price, performance, and feature points required by the market.
About Frost & Sullivan
Frost & Sullivan, a global growth consulting company, has been partnering with clients to support the development of innovative strategies for more than 40 years. The company's industry expertise integrates growth consulting, growth partnership services and corporate management training to identify and develop opportunities. Frost & Sullivan serves and extensive clientele that includes Global 1000 companies, emerging companies and the investment community by providing comprehensive industry coverage that reflects the unique global perspective and combines ongoing analysis of markets, technologies, econometrics and demographics. For more information, visit www.awards.frost.com.
About Verizon Business
Verizon Business, a unit of Verizon Communications (NYSE: VZ), is a leading provider of advanced communications and information technology (IT) solutions to large business and government customers worldwide. Combining unsurpassed global network reach with advanced technology and professional service capabilities, Verizon Business delivers innovative and seamless business solutions to customers around the world. For more information, visit www.verizonbusiness.com.