Citrix Systems Inc. (CTXS - Analyst Report) , which offers cloud computing service to PC and laptop users, announced the enhancement of its popular Podio application. The social collaboration tool is now available in Apple Inc.’s (AAPL - Analyst Report) iPhone and Google Inc.’s Android based devices.
The application will allow iPhone users to get faster access to their Podio workspace application, while the improved Android version consists of task management and calendar features. Additionally, CTXS has also added Dutch and Japanese language to expand Podio’s reach, which now brings the total number of languages supported by Podio to 11.
In today’s competitive environment, smartphones and social tools help employees to work unhindered even if they are away from their workplace. Adaptation of cloud based collaboration tool like Podio, helps organizations to arrange team communication or share data and content with a specific group. Podio allows users to build their own business application and stay connected with anyone from anywhere in their own device.
Podio has already made inroads to more than 200,000 organizations in more than 170 countries. Users can gain access to more than 2.6 million apps in Podio apps market, which not only makes their task easy within the organization but also improves their efficiency. According to research firm –Forrester– the market for enterprise social software is expected to reach $6.4 billion by 2016.
We believe that the availability of this innovative application in iOS and Android will expand Podio’s reach as these are the most dominating operating platform in the mobile space. The application will not only allow users to properly manage their work, but will also save their time.
However, the ongoing macroeconomic uncertainty may act as a headwind for the company as it restricts several firms from their targeted IT spending. Additionally, high cost associated with virtualization may restrict the long-term prospect of Citrix.
Citrix Currently carries a Zacks Rank #3 (Hold).
Other Stock to Consider
Another stock in the desktop virtualization market is VMware Inc. (VMW - Analyst Report) , which currently carries a Zacks Rank #3 (Hold).