Cisco NZ revenue drops by more than $18.5 million

Cisco NZ released its latest financial report, showing the company’s total revenue was down more than $18.5 million year-over-year.

The report reveals that its revenue from customer contracts was $10,951,969 for the year ended July 31, 2021, compared to $29,530,044 for the same period in 2020.

Additionally, its cost of goods sold is $9,287,772 compared to $27,360,664 in 2020, with gross profit of $1,664,197 in 2021 compared to $2,169,380 in 2020.

Regarding Cisco’s operating activities, its revenue from customers totals $6,003,426 in 2021 compared to $24,047,320 in 2020.

Additionally, the company’s net cash flow from operating activities is $5,120,535 in 2021, a decrease of $6,003,309 from $11,123,844 in 2020.

However, Cisco’s assets have grown year on year.

The company’s total assets currently stand at $34,237,929, up $9,230,142 from $25,007,787 for the same period in 2021.

Cisco New Zealand’s audit was conducted independently by PricewaterhouseCoopers.

The release of its latest financial report comes after Cisco launched a new Webex Wholesale Route-to-Market (RTM) for service provider partners to meet the changing needs of SMBs.

The company says the new sales model includes a single commercial agreement with each partner and a self-service platform for service providers to deliver managed services for Webex, as well as the agility, scalability and flexibility to create their own co-branded offerings.

According to Cisco, the Wholesale Partner Program offers consumption-based billing with fixed and predictable flat pricing per user/per month and offers service providers multiple billing options.

Partner onboarding experience includes dedicated Cisco experts, combined with comprehensive online training and a robust set of migration and marketing toolkits to drive market demand and serve SMB customers.

Cisco notes that this new wholesale offering is designed to make it easier for service providers to leverage their brand with a co-branded offering, leverage their market position, and innovate with their own services.

Partner Portal APIs and features provide a simple management experience. And by using a monthly consumption model, they can offer low-friction transactions perfectly suited to SMBs.

Additionally, Cisco’s success planning process includes a fully managed onboarding process for service provider partners from pre-work through production.

A parallel go-to-market process accelerates customer acquisition and migration activities through content marketing, sales enablement, adoption assets, support training, and campaign launches.

Nexgen Australia, a wholly owned subsidiary of Spirit Technology Solutions ASX ST1, is among the first service provider partners to sign up to wholesale for Webex.

Cisco is also in active wholesale trials for Webex with several Tier 1 global service providers.

The initial managed services packages for Webex available through Wholesale RTM include Webex Calling, Common Area Calling, Webex Meetings, and Webex Suite.

Cisco says Managed Services for Webex is the first offering available through its wholesale partner program.

More Cisco devices and other Cisco cloud services for the SMB market will be launched this year.

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