Iron Mountain (IRM) Rolls Out Iron Cloud For Video Content
Zacks Investment Research | Apr 10, 2018 09:43PM ET
Of late, Iron Mountain Incorporated (NYSE:IRM) has been adding capabilities to its cloud platform. Specifically, the company recently announced rolling out the Iron Cloud for Video, which is a secure and scalable cloud-based solution enabling organizations to manage video content efficiently.
Particularly, the solution offers organizations a scope to lower the cost and complexity of management of video data and content while increasing compliance. In fact, without bearing the upfront capital expenses for purchase of additional on-premise video infrastructure, organizations can progress with video-content management and access requirements. The solution is available as part of the company’s Iron Cloud purpose-built portfolio of cloud-based enterprise-class data management and access solutions.
Notably, the volume of video data is growing at an exponential pace, thanks to the increasing use of video technology across sectors and industries. In fact, with the arrival of new video sources and technologies such as the Internet of Things (IoT), drone surveillance and high-definition cameras, the volume of data and content is likely to supersede the capacity of on-premise solutions. However, this rapid growth is also leading to cost escalations and complexity, in turn throwing up challenges for management. Amid this, the company’s addition to the Iron cloud platforms seems a strategic fit.
Apart from this, Iron Mountain recently announced that it has added new capabilities to its online policy management platform — Policy Center — that will enable companies to understand and comply with policies relating to privacy and retention of data.
The latest capability additions will improve the services offered by the company’s cloud-based platform amid a challenging regulatory landscape. Nevertheless, Iron Mountain’s service revenues remain modest due to shrinking activity rates, as stored records are becoming less active. Also, recycled paper prices continue to fall. The recovery is expected to be slow in the near term, thus making it difficult for the company to achieve any robust top-line growth. Furthermore, the company has a highly-leveraged balance sheet.
Amid these, shares of this Zacks Rank #5 (Strong Sell) company have underperformed its Zacks Investment Research
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