Back to top

Image: Bigstock

Amazon (AMZN) Picked by Genesys as Preferred Cloud Provider

Read MoreHide Full Article

Amazon (AMZN - Free Report) has been focused on strengthening clientele of the cloud computing arm, Amazon Web Services (AWS), to expand presence in the cloud industry.

Recently, the company’s cloud computing arm — Amazon Web Services (AWS) — has been selected as the preferred cloud provider by Genesys for Genesys Cloud, a leading public cloud contact center platform. This has strengthened Amazon’s cloud client base.

Powered by AWS, Genesys Cloud relies on AWS’s comprehensive set of cloud services. It uses AWS’ robust database capabilities to deliver new features to customers, and enable organizations to deploy and scale the platform with ease.

Notably, the company is already utilizing AWS secure global infrastructure to help organizations transit from centralized contact centers to remote ones amid the pandemic.

In addition, the Genesys Cloud platform already utilizes AWS’ services like compute, database, analytics, machine learning, storage and security in order to enable organizations deliver personalized experiences to contact center customers.

Genesys’ selection of AWS as the preferred cloud provider highlights the efficiency and reliability of AWS’ innovative cloud products and services.

The expanding customer base will continue to drive AWS’ top line in the near and long term.

Amazon.com, Inc. Price and Consensus

 

Portfolio Strength

We believe AWS’ focus on enhancing service offerings is the key catalyst behind strong customer momentum.

Recently, AWS updated features of the fully managed data security and data privacy service — Amazon Macie. It has updated ML models of the underlined service for more accurate detection of Personally Identifiable Information. Further, the company has added support for customer-defined data to it.

Apart from this, AWS made Amazon Augmented Artificial Intelligence (A2I) generally available to customers.

Further, AWS made the new, highly performant, fully managed, low-cost warm storage tier called UltraWarm for Amazon Elasticsearch Service available to customers.

Furthermore, AWS made ML-backed enterprise search service — Amazon Kendra — available to customers. Notably, the service allows businesses to search internal documents across portals and wikis, as well as get precise answers to natural language queries.

We believe the expanding cloud services portfolio will continue to help AWS in winning clientele.

Bottom Line

AWS is an integral part of the company. Amazon is gaining from the well-performing AWS, which holds a dominant position in the booming cloud market.

Recently, the company secured an 111,000-square-foot office space in Redmond, WA in a bid to expand AWS.

The expanding AWS presence is likely to keep Amazon ahead of Redmond, WA-headquartered Microsoft (MSFT - Free Report) , which is also gaining strong traction in the cloud computing space on the back of its robust Azure.

Moreover, strengthening AWS operations are expected to continue providing Amazon a competitive edge against Alphabet’s (GOOGL - Free Report) Google Cloud and International Business Machines’ (IBM - Free Report) cloud platform, IBM Cloud.

Zacks Rank

Currently, Amazon carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Zacks’ Single Best Pick to Double

From thousands of stocks, 5 Zacks experts each picked their favorite to gain +100% or more in months to come. From those 5, Zacks Director of Research, Sheraz Mian hand-picks one to have the most explosive upside of all.

This young company’s gigantic growth was hidden by low-volume trading, then cut short by the coronavirus. But its digital products stand out in a region where the internet economy has tripled since 2015 and looks to triple again by 2025.

Its stock price is already starting to resume its upward arc. The sky’s the limit! And the earlier you get in, the greater your potential gain.

Click Here, See It Free >>