“The company’s cloud business hasn’t been able to make up for declining sales in its services, hardware, and financing businesses."
Eric Shander, who had been with the software firm since 2015, helped guide it through its acquisition by IBM.
The new network increases efficiency and reduces fraud and error risk.
The company said its cloud revenue continued to grow.
The 2018 revenue growth reflected "growing demand for our services and leadership solutions in hybrid cloud, AI, analytics, and security."
The deal includes the Lotus Notes, Domino, and Portal products that were at one time major contributors to IBM's enterprise business.
Technological advancement also promises huge strides for many industries but perhaps a dire fate for others, a futurist tells accountants and auditors.
The computing giant recorded a 2% fall in revenue for the third quarter but boosted gross margins.
"We've done the work to reposition our company. We are seeing our investments ... now paying off," CFO James Kavanaugh says.
“In a nutshell, patience is wearing thin on the Street around the IBM turnaround story, which continues to be elusive,” one analyst says.
The new service "is clearly IBM's move to beat its more consumer-bent competitors to a smart assistant for commercial partners."
IBM, Avison Young, Sabre, Cole Haan, Presidio, Darling Ingredients, Guidewire Software, Nortech Systems, Blackboard, DataPath
