Parallels’ CEO Will Help Cloud Services Providers 'Profit from the Cloud'

Parallels Summit 2010 Keynote: CEO Announces Realignment of Business and Engineering Functions to Focus on Cloud Services, not Products

MIAMI, FL – February 23rd, 2010 – Parallels CEO Serguei Beloussov outlined the company’s vision for the Cloud in his keynote presentation at Parallels Summit 2010. Beloussov advised more than 1100 service provider, telco, VAR and ISV attendees to recognize the huge opportunity presented by the small business need for Cloud services, a market which he predicted will grow to nearly $19 billion by 2013. To meet this considerable opportunity and “Profit from the Cloud”, Beloussov explained Cloud services providers and ISVs must innovate, optimize and grow to develop full-service offerings. He pledged Parallels’ ongoing and increased support for this through the company’s investment in partnerships and complete realignment to a Cloud services-oriented company structure.

“Considerable growth is predicted in Cloud services for small businesses as they provide a low cost, easy solution for these organizations, who need an increasing range of IT services, but have very little IT knowledge and limited budgets,” said Beloussov. “The complexity of IT requirements can easily become an expensive and time-consuming distraction from the core business. Buying services through the Cloud removes both the significant initial expense of buying in-house IT operations, and simplifies decision-making as small businesses can get a range of business IT services from a single provider at a low monthly subscription rate.

“For Cloud services providers, this represents a significant opportunity; however, it is essential for businesses to innovate, optimize and grow if they are going to compete successfully and increase profitability. Innovation is critical in order to keep meeting evolving customer needs: Cloud services providers need to drive better bundled services and develop new “sticky” offerings, while ISVs need to refine their technology. This will help them open new revenue streams and attract new customers,” added Beloussov.