Pure Storage Delivers New Self-Service Storage Management Capabilities to Drive Enhanced Services Experience for Global Customers

Rhea-AI Summary

Pure Storage announces new self-service capabilities across its Pure1 storage management platform and Evergreen portfolio, empowering customers with more control over their data storage environment. The enhancements include autonomous upgrades, streamlined ransomware anomaly detection, automated disaster recovery as-a-Service, partner intelligence and performance tracking, simplified invoice management, and transparent sustainability compliance.

Positive

• Pure Storage is revolutionizing enterprise data storage with self-service capabilities.
• The company aims to meet the evolving demands of modern businesses with efficient and scalable storage solutions.
• Enhancements like autonomous upgrades and disaster recovery as-a-Service offer added value to customers.
• The new features aim to simplify operations, enhance partner intelligence, and improve sustainability compliance.
• Pure Storage's strategic shift towards a self-service experience sets a new standard in enterprise storage solutions.

Negative

• None.

Insights

Market Research Analyst

Pure Storage's announcement of new self-service capabilities and enhancements to its Pure1 storage management platform and Evergreen portfolio represents a strategic move to align with the growing demand for Storage as-a-Service (STaaS) and automated software service delivery. This evolution is indicative of the broader industry trend towards service-oriented models, which offer scalability, cost-efficiency and a more user-centric approach to enterprise storage solutions.

Market implications of such enhancements include potential market share gains as customers look for more agile and efficient IT infrastructure management tools. By reducing the manual effort required for upgrades and data resilience, Pure Storage may see an uptick in customer satisfaction and loyalty, which could translate to increased recurring revenue through its subscription-based services. Additionally, the emphasis on sustainability through ESG reporting aligns with the increasing investor and consumer focus on corporate responsibility, potentially attracting a new segment of environmentally-conscious clients.

However, the competitive landscape is fierce, with major players like Dell Technologies and NetApp also investing heavily in similar as-a-Service offerings. Pure Storage will need to continue innovating and differentiating its services to maintain a competitive edge. The impact on the stock market will depend on how effectively Pure Storage can capitalize on these enhancements to drive growth and profitability.

Financial Analyst

The financial implications of Pure Storage's platform enhancements are multifaceted. On one hand, the introduction of self-service capabilities and the expansion of the Evergreen portfolio could lead to operational cost savings, as the need for manual intervention is reduced. This could improve the company's operating margin over time. On the other hand, the investment in developing these capabilities and the potential need for aggressive marketing to promote adoption may result in short-term increases in operational expenses.

For investors, the key will be to monitor adoption rates of the new features and the subsequent effect on Pure Storage's revenue growth. The company's ability to upsell these enhancements to its existing customer base and attract new customers will be critical in determining the success of this strategic move. Moreover, the commitment to no-cost upgrades and features could put pressure on near-term revenues but may be a strategic decision to enhance long-term customer retention and lifetime value.

From a valuation perspective, the stock market's reaction will hinge on whether these enhancements are perceived as a value driver that can sustainably contribute to top-line growth and margin expansion. Investors will be watching closely for any changes in guidance or financial performance in upcoming earnings calls.

Sustainability Analyst

Pure Storage's emphasis on Environmental, Social and Governance (ESG) reporting through customized C-suite reports is a strategic move that caters to the increasing importance of sustainability in business operations. By providing tools for IT teams to better communicate the sustainability impact of their infrastructure, Pure Storage not only enhances its corporate responsibility profile but also supports its customers in achieving their own sustainability goals.

This focus on sustainability could improve Pure Storage's standing with ESG-focused investors and funds, which are becoming a larger and more influential segment of the market. Companies with strong ESG practices are often considered lower risk and may benefit from higher valuation multiples over time. The ability to track and report on sustainability metrics also positions Pure Storage favorably in the face of potential regulatory changes around environmental impact disclosures.

The long-term benefits of these enhancements may include a stronger brand reputation, customer loyalty and potentially, a more resilient stock price during market downturns. However, the company will need to balance these initiatives with the need to deliver consistent financial performance to maintain investor confidence.

Latest platform enhancements empower customers with more control over their data storage environment via a single management layer, simplifying end-to-end operations

SANTA CLARA, Calif., March 5, 2024 /PRNewswire/ -- Pure Storage^® (NYSE: PSTG), the IT pioneer that delivers the world's most advanced data storage technologies and services, today announced new self-service capabilities across its Pure1^® storage management platform and Evergreen^® portfolio as it delivers on its commitment to provide comprehensive, valuable software-based solutions, all via a single platform experience, to global customers.

Industry Significance:

Pure Storage has been at the forefront of revolutionizing enterprise data storage since its inception in 2009. What began as a commitment to high-performance storage hardware has evolved into a comprehensive platform that delivers outcomes, with an emphasis on Storage as-a-Service (STaaS) and automated software service delivery.

This strategic shift to further embrace as-a-Service outcomes delivers on Pure Storage's vision to meet the evolving demands of modern businesses that seek efficient, cost-effective, and scalable storage solutions.

Today's announcement is a testament to Pure Storage's unwavering efforts to provide a meaningful Software-as-a-Service (SaaS) experience to enterprises everywhere, eliminating time-intensive IT operations with expanded software capabilities that automate upgrades for the Purity flash storage operating environment , streamline data protection, simplify invoice management and ESG reporting, and enhance partner intelligence - all at no cost and available immediately with an Evergreen subscription.

News Highlights:

• Enhanced Self Service
  • Self-Service Autonomous Upgrades: More than 30% of Pure Storage's customer base uses ActiveCluster™. Upgrades to the Purity operating environment for ActiveCluster required time-consuming manual effort, as customers jumped from one upgrade to another in an effort to keep servers in sync. With new Autonomous Upgrades, customers can simply invoke a Purity upgrade, leaving the heavy lifting to Pure Storage via its Pure1 platform, and freeing up the time previously spent managing the process themselves.
• Simplified Data Resilience
  • Streamlined Ransomware Anomaly Detection: In Pure1, organizations can leverage AIOps for ransomware anomaly detection in their data estate. In the event of an anomaly, Pure1 now recommends snapshots from which customers can restore their affected data (both locally and remote), eliminating cumbersome, manual snapshot catalog reviews, which can take anywhere from hours to days.
  • Automated Disaster Recovery as-a-Service: On the heels of launching its first DRaaS offering, Pure Storage has now released DRaaS 1.1 within Pure1, enabling customers to deploy disaster recovery in their data center in just 15 minutes or less. Organizations running virtual machines (VMs) in a VMware environment can now leverage Pure1 to deploy a self-service environment for disaster recovery in the AWS cloud. Additionally, Pure Storage launched a new Auto-Enroll feature, where organizations can tag (auto-enroll) VMs in their data center for added protection.
• Empowered Partner Experience
  • Partner Intelligence/Performance Tracking: Now in Beta, Pure Storage Partners gain an extra layer of granularity in performance as well as an improved user experience.
  • Simplified Invoice Management: With new simplified invoice management, Pure Storage offers transparency across its Evergreen subscriptions - all in a single pane of glass view - for customers. The latest capability boosts traceability and the ability for partners to reconcile what customers are being charged for, which can often create strains in the partner-customer relationship.
• Transparent Sustainability Compliance
  • Customized C-Suite ESG Reports: In support of Pure Storage's previously announced Sustainability Assessment, Pure Storage now provides a customizable executive-level ESG report, including a summarized view of a customer's data center and overall fleet, while outlining areas of improvement. This helps IT teams better communicate the sustainability impact of their IT infrastructure to management and align better to organizational sustainability goals.

Executive Insight:

"Rooted in high-performance all-flash storage hardware, Pure has evolved into a transformative platform emphasizing Storage as-a-Service and automated software delivery. Today's milestone reflects our unwavering dedication to meeting the dynamic needs of modern businesses through scalable, self-service storage solutions. We're excited to deliver an enhanced services experience to our global customers, eliminating IT bottlenecks with expanded self-service capabilities." - Prakash Darji, General Manager, Digital Experience, Pure Storage

"As one of the fastest growing school districts in the Dallas/Fort Worth area, accommodating annual growth and ensuring a stable learning environment are paramount. Pure Storage's Pure1 management platform and its Evergreen//Forever subscription have truly modernized our storage infrastructure, offering powerful, scalable, and effortlessly managed solutions. The elimination of manual data storage maintenance through self-service capabilities has been a game-changer, enabling our team to instead focus efforts on feuling the school district's development and enhancing student services. We have truly found a reliable partner in Pure Storage, providing invaluable peace of mind in planning and safeguarding our mission to deliver continuous education." -  Chris Lee, Director of Technology, Northwest Independent School District 

"Pure Storage's strategic shift towards a self-service experience marks a pivotal moment in the evolution of enterprise storage solutions. By prioritizing Storage as-a-Service and enhancing self-service capabilities, Pure is not just adapting to industry trends but setting a new standard for customer empowerment. This move is a testament to their commitment to efficiency, flexibility, and providing customers with a seamless experience in managing their storage needs." - Steve McDowell, Chief Analyst and CEO, NAND Research 

Learn More:

• Simplified Storage Management with AIOps Storage Management Platform
• Evergreen: The Most Comprehensive Data Storage Subscriptions

About Pure Storage
Pure Storage (NYSE: PSTG) uncomplicates data storage, forever. Pure delivers a cloud experience that empowers every organization to get the most from their data while reducing the complexity and expense of managing the infrastructure behind it. Pure's commitment to providing true storage as-a-service gives customers the agility to meet changing data needs at speed and scale, whether they are deploying traditional workloads, modern applications, containers, or more. Pure believes it can make a significant impact in reducing data center emissions worldwide through its environmental sustainability efforts, including designing products and solutions that enable customers to reduce their carbon and energy footprint. And with the highest Net Promoter Score in the industry, Pure's ever-expanding list of customers are among the happiest in the world. For more information, visit www.purestorage.com.

Pure Storage, the Pure Storage P Logo, Pure1, and Evergreen are trademarks or registered trademarks of Pure Storage Inc. in the U.S. and/or other countries. The Pure Storage Inc. Trademark List can be found at www.purestorage.com/legal/productenduserinfo.html.

Analyst Recognition:
Leader in the 2023 Gartner Magic Quadrant for Primary Storage
Leader in the 2023 Gartner Magic Quadrant for Distributed File Systems & Object Storage

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SOURCE Pure Storage

FAQ

What self-service capabilities did Pure Storage announce for its Pure1 storage management platform and Evergreen portfolio?

Pure Storage announced autonomous upgrades, streamlined ransomware anomaly detection, automated disaster recovery as-a-Service, partner intelligence and performance tracking, simplified invoice management, and transparent sustainability compliance.

How does the autonomous upgrade feature benefit Pure Storage customers?

Customers can now invoke a Purity upgrade, leaving the heavy lifting to Pure Storage via its Pure1 platform, freeing up time previously spent managing the process themselves.

What is the new feature in Pure1 for ransomware anomaly detection?

Organizations can leverage AIOps for ransomware anomaly detection in their data estate, with Pure1 recommending snapshots for data restoration in case of anomalies.

What is the new feature in Pure1 for automated disaster recovery as-a-Service?

Pure Storage has released DRaaS 1.1 within Pure1, enabling customers to deploy disaster recovery in their data center in just 15 minutes or less.

What enhancements were made to partner intelligence and performance tracking?

Pure Storage Partners now gain an extra layer of granularity in performance as well as an improved user experience.

How does Pure Storage simplify invoice management for its customers?

With new simplified invoice management, Pure Storage offers transparency across its Evergreen subscriptions in a single pane of glass view for customers.

What sustainability compliance feature did Pure Storage introduce?

Pure Storage now provides a customizable executive-level ESG report, helping IT teams communicate the sustainability impact of their IT infrastructure to management.