Everbridge ( EVBG Quick Quote EVBG - Free Report) recently announced the launch of a new digital operations platform module — Service Intelligence.
Service Intelligence is a correlation and analytics module, which provides IT organizations with advanced analytics for instant insights into digital disruptions, service component dependency inspection and analysis, and dynamic runbook automation to recover data fast and reduce the impact on businesses.
The recently released module has been designed to address the strong demand for critical event management and public safety technology. The COVID-19-induced pandemic has amplified the adoption of cloud services, distributed teams globally and provided precedence to remote work and accelerated the pace of digitization for several organizations.
The Russia-Ukraine war has also highlighted the issue of increased cyber-attacks globally. These events have underscored the importance of risk intelligence services like critical event management (CEM) to protect customers’ business operations.
In order to provide various IT teams with unified resolver tools and console to streamline the response and minimize the business impacts, Everbridge is integrating its Service Intelligence services with industry-leading AI for IT operations service (AIOT) companies like
Datadog ( DDOG Quick Quote DDOG - Free Report) and Dynatrace ( DT Quick Quote DT - Free Report) .
Service Intelligence has collaborated with companies like Datadog and Dynatrace to enable full system synchronization and help users in tracking responses, comments and actions.
Datadog’s AIOT services help Service Intelligence to receive anomaly alerts and incidents with all necessary information needed by IT teams to help solve the issue before it impacts end users and harms business operations in the process.
Dynatrace helps Service Intelligence in providing automated diagnosis and rich intelligent mobilization notifications to help teams save time as it eliminates the need for searching for the root cause of the problems.
Everbridge is collaborating with
Microsoft’s ( MSFT Quick Quote MSFT - Free Report) communication channel Microsoft Teams, as it is one of the most effective communicating channels used by corporates to communicate.
Microsoft Teams will help Everbridge to communicate timely during incidence response by automatically notifying team members of an incidence.
The launch of Everbridge’s recent digital operations platform module is in sync with its realigned operations module to focus on four CEM models.
Launch of Service Intelligence to Impact Growth
The prevailing negative sentiments due to the current macro-economic turmoils — rising inflation and probable recession and the Russia-Ukraine war — have hurt the share price movement of the company.
Everbridge’s shares have fallen 61.1% compared with the Zacks
Internet Software industry’s decline of 51.8% in the year-to-date period.
In order to address this issue, Everbridge has been simplifying its product offerings from several dozen individual point products to focus on four strategic CEM bundles.
Service Intelligence addresses two of these four CEM bundles — CEM for digital operations and CEM for business operations.
Amid the prevailing geopolitical tensions, there has been a huge demand for CEM solutions, and Everbridge is expected to experience strong demand for its simplified product offerings like Service Intelligence. This, in turn, will drive both top and bottom lines in the long run.
Everbridge expects that the change in business operations will drive annualized savings between $13 million and $18 million and help in expanding margins.
Everbridge currently carries a Zacks Rank #3 (Hold). You can see
the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.