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C2010-515 | IBM SmartCloud Application Performance Management V7.7 Fundamentals

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C2010-515 - IBM SmartCloud Application Performance Management V7.7 Fundamentals - braindump

Vendor IBM
Exam Number C2010-515
Exam Name IBM SmartCloud Application Performance Management V7.7 Fundamentals
Questions 50 Q & A
Recent Update February 14, 2019
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C2010-515 exam Dumps Source : IBM SmartCloud Application Performance Management V7.7 Fundamentals

Test Code : C2010-515
Test Name : IBM SmartCloud Application Performance Management V7.7 Fundamentals
Vendor Name : IBM
Q&A : 50 Real Questions

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IBM IBM SmartCloud Application Performance

IBM Drives Watson AI in all places | killexams.com Real Questions and Pass4sure dumps

IBM kicked off its annual consider partner and developer conference with a focus on making Watson accessible everywhere. Watson has historically been a solution only purchasable through IBM’s Cloud functions. however nowadays, IBM introduced it is opening Watson to run on any deepest, public, hybrid or multi-cloud answer. moreover, IBM is providing an on-premises solution operating Watson. IBM is nearly looking to make Watson probably the most accessible synthetic Intelligence (AI) answer that can execute where ever the facts resides, notwithstanding it's split between systems.

IBM has been a leader in AI expertise with the building of Watson, an intelligent platform able to processing a wide range of tips and adapting to very nearly any application. considering its introduction, Watson has been utilized to a to pretty much everything from competing with people in video games to client service to scientific and company modeling. Watson is recognized as an creative breakthrough that's paving the course of applied AI. all over the keynote handle, a couple of corporations, including Geico and Hyundai economic, discussed how they're already leveraging Watson AI because the foundation of their business options.

IBM Cloud inner most for DataIBM

IBM is now extended the attain of Watson platform (Watson Studio, Watson Assistant, Watson OpenScale, and so on) on the brand new IBM Cloud inner most for records (ICP for statistics), which can be deployed on IBM Cloud or any inner most, public, hybrid, or multi-cloud environment by utilizing Kubernetes technology. moreover, IBM announced an extension of Watson computing device gaining knowledge of with the Watson laptop researching Accelerator for prime-efficiency GPU clustering.

while Watson will run on each power and X86 techniques, there's a performance improvement to running on IBM’s vigour-based mostly methods, and in AI, efficiency concerns. whether it's developing new AI fashions or processing information in actual-time, delays can charge businesses in productivity, nice, and/or safeguard. IBM’s energy AI platform combines distinct Power9 CPUs with Nvidia snap shots Processing devices (GPUs) with high GPU memory bandwidth. The PowerAI platform is the handiest GPU-accelerated platform that links the processors to the GPUs using Nvidia high-pace NVLink interface. The AC922 will also be configured with up to 2 20-core Power9 CPUs and up to six Tesla V100 GPUs. distinct systems will also be linked to scale to as much as 256 GPUs. in accordance with IBM, recent checks established the means to developed AI models up to ten times quicker than competing systems. in consequence, IBM is now making Watson accessible on the PowerAI platform for on-premises deployments. As a part of the announcement, IBM is additionally renaming the PowerAI commercial enterprise platform to the “Watson computing device Accelerator”.

Watson has develop into a key groundwork for the company’s product and service offerings, due to this fact, IBM is carrying on with to put money into new capabilities for the platform that might be brought in the future. IBM also offers company capabilities to support consumers in enforcing AI of their business, which makes IBM stand out from the rest of the AI crowd.

whereas IBM did not spotlight how the business’s different analysis efforts will influence the Watson platform, TIRIAS research believes that IBM’s leadership in quantum and neuromorphic computing will further develop the platform and when mixed with IBM’s business services, will relaxed the business a number one position within the evolving AI landscape.

The creator and members of the TIRIAS analysis personnel don't dangle fairness positions in any of the companies mentioned. TIRIAS research tracks and consults for companies all through the electronics ecosystem from semiconductors and sensors to the cloud. individuals of the TIRIAS research crew have consulted for IBM, NVIDIA, and different organizations throughout the electronics ecosystem.


IBM Db2 query Optimization the usage of AI | killexams.com Real Questions and Pass4sure dumps

In September 2018, IBM introduced a new product, IBM Db2 AI for z/OS. This artificial intelligence engine monitors data access patterns from executing SQL statements, makes use of computer discovering algorithms to decide upon most excellent patterns and passes this tips to the Db2 question optimizer for use with the aid of subsequent statements.

computer discovering on the IBM z Platform

In may of 2018, IBM announced edition 1.2 of its desktop gaining knowledge of for z/OS (MLz) product. this is a hybrid zServer and cloud application suite that ingests performance facts, analyzes and builds fashions that characterize the health fame of a number of indicators, monitors them over time and offers precise-time scoring capabilities.

a couple of facets of this product providing are aimed toward helping a group of model developers and managers. for instance:

  • It supports distinct programming languages comparable to Python, Scala and R. This makes it possible for statistics modelers and scientists to use a language with which they're popular;
  • A graphical user interface referred to as the visible model Builder courses mannequin developers devoid of requiring tremendously-technical programming advantage;
  • It contains distinct dashboards for monitoring mannequin outcomes and scoring functions, as well as controlling the system configuration.
  • This computing device researching suite was at the start aimed at zServer-primarily based analytics purposes. probably the most first evident choices became zSystem performance monitoring and tuning. gadget administration Facility (SMF) records that are immediately generated with the aid of the working equipment provide the raw facts for system useful resource consumption equivalent to relevant processor utilization, I/O processing, memory paging etc. IBM MLz can assemble and keep these statistics over time, and construct and train models of equipment conduct, ranking those behaviors, determine patterns not readily foreseen by way of humans, improve key efficiency indications (KPIs) and then feed the mannequin outcomes back into the equipment to affect equipment configuration adjustments that can improve performance.

    The subsequent step became to put into effect this suite to analyze Db2 efficiency facts. One answer, referred to as the IBM Db2 IT Operational Analytics (Db2 ITOA) answer template, applies the machine studying expertise to Db2 operational facts to benefit an understanding of Db2 subsystem fitness. it could possibly dynamically build baselines for key performance indicators, supply a dashboard of these KPIs and give operational body of workers true-time perception into Db2 operations.

    while well-known Db2 subsystem efficiency is a crucial ingredient in average software fitness and performance, IBM estimates that the DBA guide personnel spends 25% or extra of its time, " ... combating access path complications which cause efficiency degradation and service influence.". (See Reference 1).

    AI comes to Db2

    agree with the plight of contemporary DBAs in a Db2 environment. In state-of-the-art IT world they need to support one or greater big statistics applications, cloud application and database services, utility installation and configuration, Db2 subsystem and software performance tuning, database definition and management, catastrophe recuperation planning, and more. query tuning has been in existence given that the origins of the database, and DBAs are usually tasked with this as smartly.

    The coronary heart of question course evaluation in Db2 is the Optimizer. It accepts SQL statements from functions, verifies authority to access the information, studies the places of the objects to be accessed and develops a list of candidate data access paths. These access paths can include indexes, desk scans, quite a few table be part of methods and others. within the information warehouse and big records environments there are constantly further choices attainable. One of these is the existence of abstract tables (now and again called materialized question tables) that comprise pre-summarized or aggregated information, therefore enabling Db2 to steer clear of re-aggregation processing. an additional option is the starjoin entry direction, standard within the statistics warehouse, where the order of table joins is changed for performance explanations.

    The Optimizer then reviews the candidate access paths and chooses the access route, "with the lowest cost." charge during this context potential a weighted summation of aid utilization including CPU, I/O, reminiscence and different components. finally, the Optimizer takes the lowest can charge access path, outlets it in memory (and, optionally, within the Db2 listing) and begins entry route execution.

    huge records and records warehouse operations now consist of utility suites that enable the company analyst to use a graphical interface to construct and manipulate a miniature information model of the statistics they want to analyze. The packages then generate SQL statements in keeping with the users’ requests.

    The issue for the DBA

    to be able to do first rate analytics in your distinct statistics stores you need a pretty good realizing of the records necessities, an understanding of the analytical functions and algorithms attainable and a excessive-efficiency information infrastructure. lamentably, the number and location of records sources is expanding (each in measurement and in geography), statistics sizes are transforming into, and applications continue to proliferate in number and complexity. How should IT managers aid this atmosphere, principally with the most skilled and mature workforce nearing retirement?

    take into account also that a huge part of decreasing the entire cost of possession of these methods is to get Db2 functions to run faster and extra correctly. This constantly interprets into the use of fewer CPU cycles, doing fewer I/Os and transporting less records across the network. considering the fact that it's regularly complex to even identify which purposes might improvement from performance tuning, one strategy is to automate the detection and correction of tuning issues. this is where laptop studying and artificial intelligence can be used to awesome impact.

    Db2 12 for z/OS and artificial Intelligence

    Db2 version 12 on z/OS uses the computer discovering facilities outlined above to accumulate and store SQL query textual content and entry path particulars, as well as specific efficiency-related historic counsel such as CPU time used, elapsed times and result set sizes. This providing, described as Db2 AI for z/OS, analyzes and outlets the information in machine gaining knowledge of fashions, with the mannequin evaluation results then being scored and made obtainable to the Db2 Optimizer. The subsequent time a scored SQL commentary is encountered, the Optimizer can then use the mannequin scoring statistics as input to its entry route alternative algorithm.

    The outcomes may still be a discount in CPU consumption because the Optimizer makes use of model scoring enter to choose superior access paths. This then lowers CPU costs and speeds utility response instances. a significant abilities is that the use of AI application doesn't require the DBA to have records science potential or deep insights into question tuning methodologies. The Optimizer now chooses the most excellent access paths primarily based no longer only on SQL query syntax and records distribution information however on modelled and scored ancient performance.

    This may also be especially important if you keep facts in distinct locations. as an instance, many analytical queries against big records require concurrent entry to certain facts warehouse tables. These tables are commonly referred to as dimension tables, and that they comprise the information aspects always used to control subsetting and aggregation. for instance, in a retail ambiance trust a desk known as StoreLocation that enumerates every keep and its region code. Queries against keep revenue information may want to aggregate or summarize income through location; therefore, the StoreLocation desk could be used by means of some massive records queries. in this ambiance it is average to take the dimension tables and duplicate them consistently to the large information software. within the IBM world this location is the IBM Db2 Analytics Accelerator (IDAA).

    Now feel about SQL queries from both operational applications, facts warehouse users and massive statistics company analysts. From Db2's standpoint, all these queries are equal, and are forwarded to the Optimizer. although, in the case of operational queries and warehouse queries they should still definitely be directed to access the StoreLocation desk within the warehouse. however, the query from the company analyst against massive records tables may still doubtless access the replica of the desk there. This results in a proliferations of abilities entry paths, and more work for the Optimizer. fortuitously, Db2 AI for z/OS can provide the Optimizer the tips it needs to make wise entry course decisions.

    how it Works

    The sequence of routine in Db2 AI for z/OS (See Reference 2) is commonly right here:

  • right through a bind, rebind, prepare or explain operation, an SQL remark is handed to the Optimizer;
  • The Optimizer chooses the data entry path; as the option is made, Db2 AI captures the SQL syntax, entry course option and query efficiency information (CPU used, and so forth.) and passes it to a "studying assignment";
  • The studying assignment, which will also be finished on a zIIP processor (a non-general-purpose CPU core that doesn't ingredient into software licensing prices), interfaces with the computer getting to know application (MLz model services) to save this suggestions in a model;
  • because the quantity of data in every mannequin grows, the MLz Scoring service (which can also be performed on a zIIP processor) analyzes the model records and ratings the habits;
  • all through the subsequent bind, rebind, prepare or clarify, the Optimizer now has access to the scoring for SQL models, and makes applicable adjustments to access route selections.
  • There are additionally a lot of person interfaces that supply the administrator visibility to the fame of the amassed SQL remark performance information and mannequin scoring.

    abstract

    IBM's computer researching for zOS (MLz) offering is getting used to incredible impact in Db2 version 12 to enrich the performance of analytical queries as well as operational queries and their linked purposes. This requires management attention, as you ought to assess that your enterprise is ready to consume these ML and AI conclusions. How will you measure the fees and benefits of the usage of machine learning? Which IT guide workforce must be tasked to reviewing the result of mannequin scoring, and perhaps approving (or overriding) the results? How will you review and justify the assumptions that the software makes about access direction choices?

    In other phrases, how well do you know your records, its distribution, its integrity and your present and proposed entry paths? this could examine where the DBAs spend their time in helping analytics and operational software performance.

    # # #

    Reference 1

    John Campbell, IBM Db2 amazing EngineerFrom "IBM Db2 AI for z/OS: raise IBM Db2 application performance with laptop gaining knowledge of"https://www.worldofdb2.com/events/ibm-db2-ai-for-z-os-increase-ibm-db2-utility-performance-with-ma

    Reference 2

    Db2 AI for z/OShttps://www.ibm.com/support/knowledgecenter/en/SSGKMA_1.1.0/src/ai/ai_home.html


    massive Blue at last Brings IBM i To Its personal Public Cloud | killexams.com Real Questions and Pass4sure dumps

    February 18, 2019 Timothy Prickett Morgan

    smartly, that took reasonably a very long time. After what seems like eons of nudging and cajoling and pushing, IBM is making the IBM i operating system and its built-in database management gadget, as neatly because the utility building equipment and other programs software, purchasable on its self-branded IBM Cloud public cloud.

    huge Blue previewed its plans to convey each IBM i and AIX to the IBM Cloud at its annual feel convention in Las Vegas, on scale out machines geared toward small and medium companies in addition to to valued clientele who are looking to run clusters of machines, and on scale up systems that have NUMA electronics that more tightly cluster them into shared reminiscence systems.

    There are loads of questions about how this might be all be packaged up and sold beneath the unwieldy name of the IBM energy techniques virtual Server on IBM Cloud. however we will let you know all that we comprehend and fill you in as we study more.

    The vigour techniques slices served up on the IBM Cloud working IBM i and AIX have been first rolled out for early access to selected consumers to check the APIs for the manage plane, which we presume is in keeping with the PowerVC implementation of OpenStack. The preliminary valued clientele who're kicking the tires had been supposed to simplest install development and look at various environments or protype code, in no way anything else operating in creation. This become completely intended to be a proof of thought setup at this element, as that you may see from the rollout roadmap:

    The alpha and beta testing for the energy methods slices on the IBM Cloud is on an exquisite quick track, operating from February into March, as you can see, and established availability is slated for a while in March. probably someplace towards the conclusion, we might bet. IBM is at the beginning making the vigour puffs – what else can you call them as shorthand? – attainable within the early access tests in its US East datacenter within the Washington DC metro area; it isn't clear what iron became used. The alpha and beta checking out is being done on a group of energy S922 scale out machines, which might be in keeping with a pair of Power9 processors and which frankly is a large field for many IBM i retail outlets all through itself, as well as on power E880 scale up programs, which are being scaled up to sixteen sockets and which use the older Power8 processors. all of the machines use ten-core processors, which might be the sweet spot between efficiency, chip yield, and value in the vigour methods line. The Power9 chips within the vigor S922 servers run at 2.eight GHz and may rapid as much as three.9 GHz if there's ample thermal headroom; these chips look like they can also have four threads per core (also referred to as SMT4), which is not as a lot threading as the standard Power8 chip offers in scale out machines with SMT8 threading (eight threads per core) and twice as many cores per die (24 cores versus 12 cores). Anyway, it feels like the vigour S922 is being fitted with the heavy cores, no longer the gentle ones. The Power8 chips in the energy E880 are operating at 4.19 GHz and additionally assist SMT8 threading (there changed into handiest a heavy core right here); all sixteen cores are populated with ten-core Power8 chips, with a optimum scalability of a hundred and sixty cores in a single logical partition on the IBM Cloud.

    both of the machines are being configured with 32 GB memory sticks, that are once again on the sweet spot between ability, bandwidth, and value per bit, and IBM is allowing customers to configure the machines with anywhere from 8 GB to 64 GB of leading memory per core. if you need denser memory to bolster the ability, that you can double it up using sixty four GB reminiscence sticks, after which double it up once more to 128 GB sticks, however this should be a customized order and it'll can charge considerably greater, we consider. IBM is providing disk and flash storage up to 2 TB for native storage on the cases and growing at 10 GB increments. exterior storage for functions and databases is on Storwize V7000 disk arrays within the racks close this power iron, and are linked to the servers with the aid of Fibre Channel switches. shoppers can share machines or rent committed iron, reckoning on their proclivities for absolute safety and coping with noisy neighbors on the virtual infrastructure.

    Steve Sibley vp and offering manager for the Cognitive programs division at IBM, gave me a sneak peek at the future vigour cloud slices on a talk over with to the Austin, Texas labs closing week, ahead of the believe convention. right here is how the features and services of the logical partitions on the IBM Cloud are shaping up:

    Sibley informed us that the pricing was not yet set in stone for the digital energy potential on the IBM Cloud, but when pressed about evaluating the charge between buying equipment and renting it on the cloud, Sibley estimated that for a given IBM i or AIX workload operating on similarly configured hardware and logical partitions, working the cloud instance would charge about 30 % to 40 % more on the illustration working full out over three years compared to buying the iron and the usage of it for three years. The difference, of direction, is that IBM is managing the vigor systems and procuring the datacenter, the electrical energy, the cooling, the safety, patch updates on firmware, the installing of the PowerVM hypervisor and its update, and the installation of the IBM i or AIX working device. When companies buy their own vigor techniques machines, unless they get augmented services from IBM or a company partner, it’s all on them. Pricing for the virtual machines, the reminiscence, the storage, and the operating device and databases are all set per hour.

    by the way, it is not clear what IBM i and AIX releases are supported on the machines, but presumably the present IBM i 7.2 and IBM i 7.three releases are supported on the IBM Cloud in addition to AIX 7.1 and AIX 7.2, which can be additionally existing. Linux is not mentioned as a supported platform, but SAP HANA workloads are and that means that there is a Linux – and chiefly pink Hat business Linux – underneath it considering the fact that HANA in-memory databases aren't supported on any Unix variant, or IBM i for that count number.

    through March, IBM plans to have the IBM i and AIX instances accessible in construction in its US East (Washington DC) and US South (Dallas) regions, and within the 2d quarter IBM plans to roll it in its European datacenter in its ecu relevant (Frankfurt) region, with different datacenters popping out as demand pulls and IBM pushes.

    we can take a look on the pricing as soon as it turns into accessible and see the way it all stacks up, and get the strategies of other IBM i cloud players about what massive Blue is doing.

    linked reports

    Public Cloud Dreaming For IBM i

    Skytap Says It’s building a ‘true Cloud’ offering for IBM i

    a more robust strategy to epidermis The IBM i Cloud Cat

    What Cloud providers ought to Do To appeal to IBM i

    Google near Launching IBM i Cloud provider, Will Says

    Is The ‘Golden Age’ of Computing Leaving IBM i in the back of?\

    Ensono Emerges With IBM i Cloud providing

    Clouds grow, but Can IBM i comply with?

    IBM finally gets Power8 Machines On SoftLayer Cloud

    All signals aspect To The Cloud, but Will IBM i Crowd observe?

    cellular Apps And The IBM i concern factory

    Infor Readies IBM i Cloud

    IBM i Finds a spot within the Cloud

    vigour systems Coming To The SoftLayer Cloud

    IBM Brags About Its Cloud Prowess due to SoftLayer

    IBM Buys SoftLayer To construct Out hosting, Cloud organizations

    Two Ask TPM Questions: real IBM i Clouds And Apple purchasing IBM i

    IBM i 7.1 Tech Refresh activities reside Partition Mobility

    AWS/400: Amazon Builds An AS/400-oid Cloud

    I, Cloud-i-us

    wanted: Cloud-i i-nfrastructure

    The X component: Head in the Clouds


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    Commvault Systems, Inc. (CVLT) Q2 2018 Earnings Conference Call Transcript | killexams.com real questions and Pass4sure dumps

    Image source: The Motley Fool.

    Commvault Systems, Inc.  (NASDAQ: CVLT)Q2 2018 Earnings Conference CallOct. 30, 2018, 8:30 a.m. ET

    Good day, ladies and gentlemen, and welcome to the Second Quarter 2019 Commvault Earnings Conference. (Operator Instructions) As a reminder, this conference call is being recorded.

    I would now like to introduce your host for today's conference, Mr. Michael Picariello, Director for Investor Relations. Sir, you may begin.

    Good morning. Thanks for dialing in today for our fiscal second quarter 2019 earnings call. With me on the call are Bob Hammer, Chairman, President and Chief Executive Officer, Al Bunte, Chief Operating Officer and Brian Carolan, Chief Financial Officer.

    Before we begin, I'd like to remind everyone that statements made during this call, including in the question-and-answer session at the end of the call, may include forward-looking statements, including statements regarding financial projections and future performance. All these statements that relate to our beliefs, plans, expectations or intentions regarding the future are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and are based on our current expectations. Actual results may differ materially due to a number of risks and uncertainties, such as competitive factors, difficulties and delays inherent in the development, manufacturing, marketing and sale of software products and related services and general economic conditions. For a discussion of these and other risks and uncertainties affecting our business, please see the risk factors contained in our Annual Report in Form 10-K and our most recent quarterly report in Form 10-Q and our other SEC filings and in the cautionary statement contained in our press release and on our website. The company undertakes no responsibility to update the information in this conference call under any circumstance. In addition, the development and timing of any product release as well as features or functionality remain at our sole discretion.

    Our earnings press release was issued over the wire services earlier today and it also has been furnished to the SEC as an 8-K filing. The press release is also available on our Investor Relations website.

    On this conference call, we will provide non-GAAP financial results. The reconciliation between the non-GAAP and GAAP measures can be found in Table 4 accompanying the press release and posted on our website.

    Commvault adopted the new revenue standard ASC606 on April 1, 2017. Our adoption was done on a retrospective basis, all prior periods in our financial statements have been adjusted to comply with the new rules.

    As a result, the results and growth percentage we will discuss today are on a comparable basis using the new rules. All references to software revenue are inclusive dollar amounts are a percentage for both software and products revenue as disclosed in our P&L.

    Today's live webcast will also include a slide presentation as part of Commvault prepared remarks to facilitate updates on our Commvault Advance initiatives. These initiatives include an update on our transition to subscription revenue models, as well as our recent operational review. The slides also cover our announcement of new multi-year revenue and operating margin targets. If you've not done so already, I would suggest logging into the webcast now to view or download a copy of the slides.

    Please also note that in order to best see the slides, we suggest enabling full screen slide mode within the webcast. In addition, the slides can also be downloaded from the Commvault website under the Investor Relations page.

    This conference call is being recorded for replay and is being webcast and an archive of today's webcast will be available on our website following the call.

    I will now turn the call over to Bob.

    Thank you Mike, and good morning, everyone and thank you for joining our fiscal second quarter FY '19 earnings call. On today's call we will discuss our fiscal 2019 second quarter results, our multi-year business model transformation to deliver shareholder value called Commvault Advance, including an update on the progress we have made to accelerate our transition to subscription revenue models, the results of our recent operational review, which includes the announcement of new multi-year revenue and operating margin targets, and an update on our share repurchase program. Let me briefly summarize our Q2 financial results.

    Software and products revenues were down 3% year-over-year. Total revenues were up 1% year-over-year, EBIT margin was 14.8%, up 550 basis points year-over-year, EPS was $0.40 per share versus $0.21 in the prior fiscal year.

    Our EBIT margin improvement was driven by cost efficiencies, implemented as part of our Commvault Advance initiatives. Later in the presentation, we will talk about our new revenue metrics that will provide greater clarity to investors on our subscription model transition, which has been accelerating over the last several quarters.

    In Q2, our subscription revenue represented the highest proportion of software revenue in our history and subscription annual contract value or ACV, which we will define later in the call, accelerated its year-over-year growth to over 90%.

    As a reminder, last quarter we were implementing a major corporatewide transformation called Commvault Advance. Please take note that Commvault issued a press release this morning, outlining the significant progress we have made since announcing Commvault Advance in May.

    The goals of Commvault Advance are to establish a strong foundation to improve revenue, while at the same time achieving much improved operating margin leverage. The implementation was a culmin turning to our balance sheet and cash flows in the first quarter cash and short-term investments were partially 1.1 billion ation of a couple of years of effort across products, pricing, a reorganization of our sales and distribution functions and the establishment of a much stronger, more efficient routes to market.

    We believe that our second quarter software and products revenue reflected the temporary disruption from the significant Commvault Advance related changes we made during the quarter, including reorganization of our sales and distribution organizations, which in part shifted a significant percentage of field resources to support our channel and alliance partners and major simplification of both products pricing to make our solutions easier to both sell and buy.

    We acted swiftly to implement these changes and while there was a higher level of disruption than we had anticipated, the most significant changes are now largely completed and we are focused on go-forward execution throughout the remainder of FY 2019.

    Based on the early results of these changes, we are already seeing improved momentum and have seen a sharp increase in funnel growth, strong order flow in October and solid forecast from the field. However, given the early stage of our transformation, we plan to remain conservative with our near-term outlook until we can validate the positive churn of the business with solid quarter-on-quarter revenue growth.

    We believe the implementation of Commvault Advance, although challenging in the near term, puts us in a much stronger position to take advantage of the major shift in the market and significantly improves our ability to execute our strategy and drive revenue and earnings growth.

    Commvault Advance leverages our strength and shores up our weaknesses. Specifically, we believe Commvault has a leading technology to enable large enterprises to consolidate data management to deal with the critical issues related to cost, cyber compliance in the cloud, which I call the 4Cs.

    As data scale increases, we are also well on our path to our exit by scale in our platform. We now have simplified software solutions, pricing, packaging and appliances to deal with the shift to simplification in both the enterprise and the midmarket, particularly with our converged appliances and Commvault complete data management.

    While we are the clear technology leader and migrating and managing data in the cloud with IBM's $35 billion acquisition of Redhat this weekend, there will be additional focus on cloud and Commvault is well positioned to take advantage of that with the leading data management platform in the industry.

    We are leading the industry in data analytics with our know your data solutions with Commvault Activate. As part of Advance, we are laser focused on improving our ability to accelerate revenues through a much stronger sales and distribution. These efforts have been further bolstered with the recent hiring of several sales leaders with strong distribution focus.

    Commvault has been focused on making fundamental changes to our products and our businesses that we believe will deliver sustained revenue growth and profitability over both the near term and the long-term.

    These business model optimization changes that will deliver shareholder value include an enhanced and expanded and simplified product portfolio, improved distribution leverage, a transition to subscription pricing and aligning our cost structure with our revenue growth.

    So let me talk about our product portfolio. As I just mentioned, a key element of Commvault Advance is to create and enhance expanded and simplified product portfolio, which includes product innovations that make it easier for customers to install and use our products and changes to packaging and pricing structures to make a dramatically easier for our sales teams and partners to sell and customers to buy our products.

    Commvault now has four distinct, simply powerful offerings. One is Commvault complete backup recovery, which is the consolidation of what was previously 20 SKUs. Commvault HyperScale Software and Appliances, just converged data management protection, combined with scale-out secondary storage.

    Thirdly, Commvault orchestrate, which is fully automated disaster recovery, data test and data migration, particularly in the cloud and fourth, Commvault Activate, which is designed to help customers know their data and then discover and extract new business insights from data under management whether that data is on-premise or in the cloud.

    All these products have built upon a common software and technology platform we call the Commvault Data Platform.

    Another key strategy is to drive significantly improved distribution leverage through a combination of products, better aligned to routes to market, which include our appliances in Commvault Complete, reallocation of sales resources from direct selling to supporting our partners and the expansion of our alliance relationships.

    During the first half of fiscal '19 we shifted a material portion of our sales and marketing resources from direct sales to supporting our channel and strategic partners and in strengthening our strategic relationship with key partners, including HPE, net Cisco, Microsoft and AWS.

    We expanded our partnership with HP. Commvault backup recovery software will now be fully integrated with the HPE store once appliances. The integration will allow backup data to be moved natively to the cloud or back to on premise. We expect this integration to be available in November.

    In addition, we launched sales programs for Commvault Complete and HyperScale, which are now included HPE's global price, which continue to align our field organizations and put structure around our drawing pipeline build.

    We recently announced an expanded partnership with whereby NetApp is now a full reseller partner. NetApp and NetApp channel partners can now sell the Commvault backup recovery software directly to its customers.

    We've continued to develop our strategic relationship with Hitachi, Bentara, Huawei and Fujitsu. We expect to see significant funnel build and revenue progress with both HP and NetApp during Q3. We remain excited about the business opportunity represented by our alliances with all of these leading technology vendors and believe that these relationships will drive significant opportunity for Commvault going forward.

    Let me talk about our transition to subscription pricing. Beginning in fiscal 2018, we began transitioning a significant portion of our new customer revenue to subscription pricing models. This transition has benefits to both our customers and Commvault.

    Our success with subscription models has been better than we anticipated and our repeatable revenue streams had been significantly outgrowing our legacy pricing models. This transition has created some headwind through near-term topline revenue growth as a like-for-like subscription transaction initially generates less revenue than perpetual sale, but we believe that it's the right long-term model in order to drive, improve and sustainable revenue growth for the future. Brian will highlight some of these key metrics, which show our progress on this transition.

    Now let me talk about cost efficiencies. During fiscal '19, we made excellent progress in adjusting our cost structure so that we can deliver meaningful improvements to operating margins over the next couple of years. With the assistance of third party consultants, we identified areas of operational efficiencies both in the near and long term, which positively impacted the first half of FY '19 and we anticipate will drive higher operating margins for the balance of FY '19 and beyond.

    Our progress is evidenced by the 61% year-over-year growth in Q2 in non-GAAP operating income. Brian will address our multi-year operating margin targets later in the call.

    While we are making changes to simplify and improve our business, one thing we will not change is our commitment to innovation and delivering world-class solutions and support to our customers. As we identified economies in our cost structure, we have not decreased our investment in R&D or customer support since our objective is to maintain our technological leadership position in the industry.

    Our commitment to lead the industry in innovation is highlighted by the announcements we made recently at our third Annual Customer and Partner Conference Commvault GO. At the conference, we announced more powerful, yet simplified oversight of backup and data management operations by using sophisticated machine learning and artificial intelligence to automatically adjust backup schedules, dynamically auto optimize operations to improve IT resource utilization, take immediate actions to mitigate damage from a cyber attack and provide real time alerts on critical issues.

    We also continued to maintain our leadership position in the cloud. Commvault Solutions seamlessly work with more than 40 cloud offerings and we continue to be one of the leading data protection offerings to delivering workloads to the cloud in particular AWS, Azure and Google Cloud.

    Our ability to enable customers to rapidly move workloads to, from and between clouds, while protecting the data is a significant competitive advantage and remains a key driver of the Commvault business.

    Now that the foundation of Commvault Advance is in place, we believe we will see increased topline momentum, as our channel strategy, go-to-market initiatives and alliance partnerships has started to show positive traction with funnel growth acceleration.

    We anticipate sequential revenue improvement during the second half of fiscal '19 based on the following. One, the success of Commvault HyperScale Appliance and HyperScale Software Solutions, cloud migration and management, success for the Commvault Data Platform to gain share in large enterprises with the journey to the cloud and solutions to help customers mitigate and recover from a cyber attack with highly automated, machine learning and artificial intelligence aided data protection, disaster recovery and intrusion detection and mediation.

    Third, becoming a leading foundation for governance, data analytics and as an optimized data source from business analytics and finally, dramatically improving our growth in the mid-market by offering much more support to our channel and strategic partners, combined with the introduction of new innovative product offerings and pricing.

    In summary, the implementation of the Commvault Advance initiatives in Q2 resulted in disruption that did not allow us to achieve our top line objective. However, we believe the pieces are now in place for the company to execute and deliver improved financial performance.

    I will now turn the call over to Brian. Brian?

    Brian Carolan -- Vice President and Chief Financial Officer

    Thank you, Bob and good morning everyone. In addition to covering the traditional financial highlights for the second quarter of fiscal 2019, I will also spend time updating you on the progress we have made to accelerate our transition to subscription revenue models, including metrics, which demonstrate our continued progress toward more repeatable software and products revenue streams.

    I will also update you on the results of our recent operational review, which includes the announcement of new multiyear revenue and operating margin targets. And lastly, I will provide you an update on our share repurchase program.

    In addition to our earnings release issued earlier this morning, we also have made available a presentation on the Investor Relations section of our website and also included this presentation in our 8-K filing. If you are on the webcast you can follow along with these slides during my remarks.

    Q2 total revenues were $169.1 million representing an increase of 1% over the prior year period. On a sequential constant currency basis, total revenue would have been approximately $1.9 million higher, using prior quarter FX rates.

    We reported Q1 software and products revenue of $69.5 million, which was down 3% year-over-year. Revenue from enterprise deals, which we define as deals over $100,000 in software and product revenue in a given quarter, represented 66% of such revenue.

    Revenue from these transactions was up 8% year-over-year. The number of enterprise revenue transactions increased 10% year-over-year. Our average enterprise deal size was approximately $284,000 during the quarter.

    Gross margins were 84.6% for the quarter. The cost of third-party royalties related to our HyperScale software solutions and the cost of hardware related to our HyperScale Appliances is included in the cost of software and products revenue. Total non-GAAP operating expenses were approximately $115.2 million for the quarter, down approximately 10% year-over-year and 7% sequentially.

    We completed Phase 1 of Commvault Advance and found significant efficiencies in our cost structure, which included reducing our overall headcount by approximately 7% since the beginning of the fiscal year. We ended the September quarter with 2,644 employees.

    In addition, as we go through Phase II of Commvault Advance, we remain focused on maintaining our technological leadership position in the industry. We do not expect these operational initiatives to have an adverse impact our product development strategy.

    Operating margins were 14.8% for the quarter, resulting in operating income or EBIT of approximately $25.1 million. As Bob mentioned, EBIT was up 61% year-over-year.

    Net income for the quarter was $19.1 million and EPS was $0.40 based on a diluted weighted average share count of approximately 47.8 million shares. As a reminder, during FY '19, we lowered our pro forma income tax rate from 37% to 27%. We believe that as a result of US tax reform, 27% will align to our long-term GAAP and cash tax rates.

    We anticipate that our diluted weighted average share count for full year FY '19 will be approximately 48 million shares.

    Let's now change gears and spend some time on our subscription pricing models and our continued shift to more repeatable revenue. Our subscription pricing models are continuing to resonate with customers. We believe our transition to subscription-based pricing models over the last six quarters has been very successful.

    For the sake of clarity and transparency, we are introducing two revenue metrics to help investors track the growth and progress of our subscription revenue transition. As you will see, subscription revenue is becoming a larger portion of the business and we intend on accelerating the pace of this transition over the next several years.

    When you combine our subscription-based license sales with our other repeatable services revenue streams, such as maintenance, managed services and SaaS, it represents what we call our repeatable revenue. We are on track to achieve our goal of having 70% plus repeatable revenue in FY '19.

    Let me start out by defining the nature of our current revenue streams. Slide 9 in our presentation includes a chart that summarizes revenue based on how it is recognized and if it is potentially repeatable, nearly all of Commvault software and product revenue is related to solutions that are run in the customers on-prem environment for cloud infrastructure.

    We currently do not have any significant revenue streams related to hosted or SaaS solutions. As a result, as required under ASC606, the vast majority of Commvault software and product revenue is recognized at a point in time, when it is delivered to the customer and not over the course of a contractual period. This is true for both perpetual licenses and our software subscription software licenses.

    As a reminder, our subscription software license agreements generally require a minimum, non-cancelable spending commitment and term, which is typically three years.

    We have intentionally used the word repeatable and not recurring to describe this revenue, because it is recognized at a point in time and not ratably over the length of the contract. Each time a customer renews a subscription arrangement, Commvault will recognize the entire value of the software that was sold in the period of sale.

    The only exception to this point in time recognition principle for our software products is sales of our pay as you go utility arrangements. These utility arrangements are generally structured with no guaranteed minimums, which means they are recognized over time based on product usage.

    We measure total repeatable revenue as subscription software and product revenue, utility software revenue and the revenue related to our maintenance and support services. Note that unlike software, our maintenance and support services on both perpetual and subscription software arrangements are recognized ratably over the contract term.

    Slide 10 includes a summary of the benefits of subscription models. We have heard from many of our enterprise customers that consumption-based pricing such as subscription arrangements is very high on their list of prerequisites for a data management solution.

    Customers often prefer a subscription model, because it simplifies their procurement process, lowers their upfront commitment and aligns with their move to consumption-based pricing models associated with cloud storage.

    Ultimately a subscription license provides the customer with much more flexibility to adapt the changes in our business and technology. If subscription arrangements make it easier for prospects to become Commvault customers, we are confident that the lifetime value of our customer relationships will increase. And from a Commvault perspective, we believe these models will drive a more predictable and repeatable revenue stream over time.

    Let's now look at a simple representative example of a perpetual license transaction and how it compares with a subscription license arrangement over both a three and six-year period.

    In this example, on Slide 11, we have compared a like-for-like perpetual license and subscription license arrangement. As you can see, the subscription solution requires less upfront investment by the customer and results in lower initial revenue to Commvault.

    In this example, the customer could purchase a perpetual license for our software for $245,000 plus annual customer support and maintenance. Each year that this customer renews their support maintenance, Commvault receives $45,000 of revenue. The total cost over a three-year period is $380,000 and increases to $515,000 over six years.

    To purchase the equivalent amount of software under a three-year subscription model, the customer would pay $300,000 either upfront or over the three-year life of the agreement. This price is inclusive of both software and maintenance and support. Over time typically, after the first read all (ph) the cumulative revenue from a subscription model exceeds the perpetual model and related maintenance.

    We believe this is a win-win scenario by making it easier to initially transitioned to CommVault, our customers will also realize other financial benefits over time versus a competitor's solution, such as more cost efficient storage, reduced downtime and less administrative cost.

    In recognition of our transition to subscription models, we believe it is now important to highlight two key operating metrics, which demonstrate our continued progress toward more repeatable software and products revenue streams, which we've been discussing for several quarters now. We believe these metrics show the potential value of the transition to CommVault shareholders.

    The first is repeatable revenue and the second is a new metric not previously discussed, but widely used in the industry and that is annual contract value or ACV. I will walk you through each of these in the next few slides.

    I will start with repeatable revenue, which is shown on Slide 13, as noted earlier, our primary repeatable revenue streams are subscription, software and maintenance services. The amounts included on the subscription and utility software row are inclusive of both software and maintenance and support revenue on these arrangements.

    The amounts included on the recurring support and services row is primarily maintenance and support revenue related to existing perpetual software arrangements. We would consider approximately 71% of our Q2 total revenue to be repeatable in nature.

    As you can see, our repeatable revenue has been consistently growing in excess of our legacy pricing models and were up 22% year-over-year in Q2. The recent growth of our repeatable revenue streams has been driven by subscription software and products revenue, which is shown on Slide 14. Subscription-based pricing represented a record 43% of software and products revenue in Q2, which compares to 17% in Q2 of last year.

    Software and products revenue from such subscription-based models are up 136% year-over-year, a significant acceleration from last quarter. This consists of both committed and often multiyear subscription sales as well as pay as you go utility type arrangements.

    The second metric, I would like to discuss is the subscription and utility annual contract value or ACV, which is shown on Slide 16. As we transition to a mostly subscription or repeatable revenue model, this will provide greater visibility into the increased subscription contracts we sell. ACV is defined as one, the total active subscription contracts value, inclusive of revenue that was recognized as either software or support services, annualized for a 12-month equivalent value plus two, the annualized value of active utility or pay as you go usage billings.

    We believe this ACV metric normalizes the variations in contractual length among our subscription and utility transactions and will help investors and analysts track CommVault's transition to more potentially repeatable revenue streams.

    This metric will be a valuable data point to demonstrate the growth of our subscription and utility-based pricing models that we expect to drive new customer acquisition, land and expand growth as well as up-sell opportunities. As of Q2, ACV has grown to $76 million after only a short period of selling subscription licenses. Importantly, ACV is accelerating and achieved approximately 90% year-over-year growth this quarter.

    As part of our Commvault Advance initiatives, our go-to-market model is highly focused on primarily selling these subscription licenses and we expect subscription ACV to grow significantly over the next several years.

    I would now like to spend the next few minutes addressing both our near-term financial outlook and our longer-term operating targets. As outlined in today's press release, we have been making good progress within our Commvault Advance framework across all aspects of the company by strengthening our competitive technology position, broadening our product line, expanding distribution relationships, reorganizing sales and marketing and driving cost reductions and efficiencies.

    We are on a path to improving the sustainable financial performance of the company, while we expect that the changes we have made to products, pricing, distribution and partnerships will drive future revenues and operating leverage, we also took actions to align our cost structure with a reasonable revenue growth target.

    As Bob discussed earlier, the implementation of the Commvault Advance initiatives resulted in near-term disruption that did not allow us to achieve our Q2 and near-term topline objectives. We are also conservatively planning for modest revenue growth in Q3 and Q4. We expect third quarter total revenue to be approximately $181 million and fourth quarter revenue of approximately $189 million, resulting in total FY '19 revenues of approximately $715 million.

    These expectations are based on Q3 and Q4 software revenue of approximately $82 million and $86.5 million respectively. If we achieve our revenue outlook, we will continue to see margin expansion and strong year-over-year earnings growth based on the cost-cutting initiatives we began in early fiscal 2019.

    We now expect the Q3 EBIT margin percentage to be approximately 15% and the full year FY '19 EBIT margin percentage to be approximately 14.7%, which is a 380 basis point improvement over the prior year.

    While our strategic fundamentals are strong and our ability to execute has improved, we still face critical challenges. It is important to note that Commvault Advance is a major transformation and restructuring effort. We are making fundamental changes to the business, which carries risk, tide to disruption and execution. While we believe that the majority of the elements of Commvault Advance are in place, there is a certain element of transformational risk associated with the execution of such initiatives, particularly in the near term.

    Despite these risks, we are already seeing improvements across numerous KPIs and October order volume is tracking well. Secondly, as we have discussed for many quarters, we are currently reliant upon a steady inflow of large six and seven-figure deals, which come with additional risks due to their complexity and timing.

    While we also need to improve our close rates on these deals, large deal closure rates will likely remain lumpy, particularly in the near term. And lastly, while we are happy with the progress we are making with subscription pricing models, the transition drives a headwind to near-term license revenue growth.

    This transition will continue to have a dampening effect on revenue, but we believe will ultimately result in a higher lifetime value. As previously stated, fiscal '19 will be impacted by the near-term disruption of the changes we implemented that as part of our Commvault Advance initiatives.

    As we enter fiscal '20, our goal is to capitalize on these changes and start to realize leverage from our distribution model as well as the operational efficiencies we identified and implemented in fiscal 2019.

    Turning to the next slide, you can see the detail of our multi-year revenue and operating margin targets. Our fiscal '20 objective is to grow revenue by at least 9% while achieving 20% plus operating margins. Our fiscal '21 target is to continue driving operating leverage and obtain 25%-plus operating margins.

    Our continued transition to more repeatable revenue will also be a key component of our improved financial performance. As you can see on Slide 21, our target is to achieve 80% repeatable revenue in fiscal '21.

    Given our transition to subscription software licensing began in fiscal '18, fiscal '21 represents the first opportunity for Commvault to significantly benefit from renewals of existing subscription customers. As we continue driving repeatable revenue, we will focus on maximizing the value of subscription and utility annual contract value.

    As previously discussed, our current ACV is approximately $76 million. Our goal is to achieve approximately $240 million of subscription and utility annual contract value by the end of fiscal '21. The $240 million goal is approximately eight times the ACV we stated with when we began our move to subscription based pricing.

    In fiscal 2019, we've been focused on targeting areas of cost savings, such as reducing headcount by approximately 7% since the start of the year and setting the foundation for Commvault Advance.

    One of the core principles of Advance is to drive distribution levers through a focus on our alliances and partnerships. If we are successful, this will accelerate operating margin expansion and reduce our sales and marketing expense as a percentage of revenue.

    As you can see on this slide, our goal is to reduce sales and marketing expense from 53% of revenue in fiscal 2018 to 40% in fiscal '21.

    Let me now shift gears to our balance sheet and cash flows. As of September 30, our cash and short-term investments balance was approximately $484 million. During the quarter, we repatriated $67 million of international cash back to the US and reduced the amount of cash held in foreign locations from $197 million as of June 30 to $130 million as of September 30.

    Our remaining international cash balance is spread across over 35 countries, while our goal is to continue to return as much cash as possible back to the U.S., we may not be able to do so in an economically efficient manner or may be limited by foreign laws and regulations.

    However, we do believe that steps we are taking will result in the vast majority of future net cash flow to be concentrated in the US.

    Free cash flow, which we define as cash flow from operations less capital expenditures was approximately $17.3 million, which was up 2X, over the prior year period. As of September 30, 2018, our deferred revenue balance was approximately $316 million, which is an increase of 7% over the prior year period. Nearly all of our deferred revenue is services revenue that has been invoiced to customers.

    Lastly, let me update you on our share repurchases. During fiscal 2019, which includes transactions through yesterday, we have repurchased approximately $47 million or approximately 707,000 shares of our common stock at an average cost of $66.33 per share.

    As disclosed in our earnings release issued earlier this morning, our Board of Directors has recently increased the total amount available for share repurchases to $200 million and extended the program for another year through March 2020.

    That concludes my prepared remarks and I will now turn the call back over to Bob. Bob?

    Robert Hammer -- Chairman, President and Chief Executive Officer

    Thank you, Brian. I would like to spend a few minutes talking about Commvault GO and the new products we announced during the show. We hosted our Annual Commvault GO User Conference earlier this month in Nashville. Registration exceeded last year's total with approximately 2,200 customers, prospects and partners in attendance.

    We announced a number of new products and services including an exciting new way for customers to interface with our software called Commvault Command Center, new backup and recovery as a service offerings and further expanded our portfolio of appliance offerings.

    We raised the industry benchmark for software interaction and data management with the announcement of the Commvault Command Center, which provides customers with a single console for managing Commvault's complete portfolio of products across an entire enterprise on premise, cloud and end point infrastructures.

    The Command Center is enhanced with the power of artificial intelligence and machine learning to provide easier to understand dynamic dashboard views of our customers' environments, much more comprehensive real-time reporting and unique learning capabilities, including the ability to take corrective actions.

    Broad-based security enables IT, Admin and end users to have their own easily customizable dashboards. The Command Center can be deployed on premise or in the cloud and is available now.

    We announced a new backup and recovery as a service offering to deliver Commvault's powerful simplicity for customers wishing to consume backup and recovery need as a service. We also announced two other backup services for virtual machines on AWS and Azure, and a backup service for native cloud application such as Microsoft Office 365 and sales force.

    These solutions will be available within cloud marketplaces for ease of acquisition and deployment. Customers can purchase the services as a Pay As You Go license or as a fixed term subscription. We also expanded the company's family of appliances with addition of two new appliances. The new appliances expand our offerings into a family of small, medium and large appliances that enable our customers to cost effectively scale from 10 terabytes to more than a petabyte or 10s of petabytes.

    The new larger appliance is targeted at managed service providers and large enterprises featuring stellar technology with our Commvault Hyperscale software. The small offering takes a full power of Commvault complete backup recovery into an appliance offering perfect for remote office and branch offices.

    All of our appliances can be used to seamlessly backup data on-premise or move it directly to the cloud. Commvault user cloud resources natively, which has cost, performance advantages versus competitive offerings, which require the customer to install an instance of their appliance in the cloud.

    During the show Al and I also delivered a keynote presentation that outlined new and exciting products and fresh ideas that meet today's unique data management challenges and opportunities for three main messages.

    One Commvault complete backup and recovery continues to set the new industry benchmark for what it means to be complete and backup and recovery solutions. Advances in machine learning and AI will create a sales driving like experience that redefines how customers engage with their software. This is made possible through the capabilities of the new Commvault Command Center.

    Secondly, the simple SmartCloud highlighting Commvault's ability to deliver a promise of the cloud faster to automated and orchestrated research management and control, we're now helping customers deliver on a multi-cloud environment as a true extension of a modern on-premise data center.

    And lastly, we continue to improve customers' knowledge of their data with a holistic enterprise wide view and we are delivering applications that allow them to act upon that knowledge. This comes to life through Commvault Activate.

    Innovation remains the hallmark behind Commvault's product vision and leadership. Commvault is applying leading edge AI and machine learning to deliver outcomes that customers value most. Commvault challenges the industry to expect more as we deliver truly complete backup and recovery.

    Before we wrap up, let me briefly update you on the search process for a new CEO. As stated previously, the CEO Search Committee of our Board remains -- retained a leading search from May and has been identifying and actively interviewing candidates. The search process is well under way and the search committee is making good progress.

    In closing, under Commvault Advance we made significant progress in the quarter, establishing a stronger foundation to better enable us to achieve more improved and predictable financial performance both in the short and long-term. While we are not satisfied with our Q2 revenue performance, we are seeing strong early momentum from our Commvault Advance initiatives and are excited about our accelerating subscription revenue.

    We have made comprehensive operational changes over the last several months and these changes are now behind us. We are now focused on ongoing forward execution. The actions we took to align our cost structure at the beginning of the year were evidenced in the 61% year-over-year EBIT improvement. Now that the foundation of Commvault Advance is in place, we believe we will see increased momentum as our channel strategy, go-to-market initiatives and alliance partnerships start to show positive traction.

    As I mentioned earlier, we are entering the second half of the year with a much stronger funnel. We'll be focusing our efforts on executing the key elements of Commvault Advance where we already have a solid already -- where we already have solid proof points of success.

    Our objective is to make sure we achieve our near-term financial objectives while solidifying our Commvault Advance Foundation for FY '20. Our immediate focus is to achieve our Q3 revenue and earnings forecasts.

    Now let me turn the call back to Mike. Mike?

    Michael Picariello -- MD of Americas Research

    Operator, can you please open the line for questions?

    Questions and Answers:

    Operator

    (Operator Instructions) Our first question comes from the line of Joel Fishbein of BTIG. Your line is now open.

    Joel Fishbein -- BTIG, LLC -- Analyst

    Good morning. I have one for Bob and one for Brian. I'll start with Brian. Hey Brian, thanks for the detail on the move to the subscription model. What I'm just trying to understand is with a lot of these companies, you start this -- you see deferred revenue grow right as you sign these deals, particularly larger ones and I'm just trying to understand why we're not seeing an uptick in deferred revenue with some of these subscription deals? And then I'll wait -- just ask Bob the next question.

    Brian Carolan -- Vice President and Chief Financial Officer

    Sure. Good Morning, Joel. So, as I described in the call, we're a bit unique when it comes to the application of ASC 606. When we sell our subscription software and license arrangements, we actually recognize that revenue upfront in the period of sale on the software portion.

    The only thing that goes into deferred revenue potentially would be the maintenance that's attached to that, just like a normal arrangement under perpetual model. It's the same type of carve out for maintenance and support that gets deferred over the contractual term.

    So you don't see it show up in deferred. It actually shows up in period revenue that's been recognized. That's why we're going to try to point to other metrics such as ACV and repeatable revenue and try to give you good visibility into the traction that we're making on more repeatable revenue models.

    Joel Fishbein -- BTIG, LLC -- Analyst

    Would you have a backlog number then, like in terms of total contract backlog or is that not a metric that might be meaningful?

    Brian Carolan -- Vice President and Chief Financial Officer

    That's really what, it's almost really, if you look at the ACV is a proxy for what backlog would be essentially.

    Joel Fishbein -- BTIG, LLC -- Analyst

    Okay. Great. And then Bob just for you, what gives you confidence that you can grow 9% next year? Obviously you're making a lot of changes right now and I'm just -- what's giving you the confidence? Is it something that you're seeing out there specifically that you can point to?

    Robert Hammer -- Chairman, President and Chief Executive Officer

    Yes Joel, clearly we're seeing a substantial, I mean substantial uptick in funnel flow in the enterprise just started to change. We saw it in the spring and it really accelerated through the summer in spite of disruption and continued as we entered Q3 in very large deals into the funnel and those deals were tied a trend in the industry for large enterprises to consolidate all their data management functions to deal with cost, cyber compliance and the cloud.

    And I believe our data management platform and the market is recognizing this, is in a class by itself in terms of delivering those capabilities. So that significant increase in large deal and flow also gives us optimism for this current quarter and it's continued.

    And secondly, as I discussed in my remarks, we now have a much stronger distribution position and although that's going to take a little time to impact our earnings, we're starting to see that as well, so fortunately we got a massive significant upturn in our I'll call it core enterprise business and also that is also being driven by a much stronger partner and alliance relationships in the enterprise.

    And from the midmarket standpoint, we are seeing good traction with our appliances in Commvault Complete and new pricing. So the whole foundation at Commvault Complete was not try to make changes here. That's why it goes back a couple years to make fundamental changes in our products pricing, routes to market, alignment with those routes to market and a much more efficient cost structure.

    So internally, there's a lot of optimism underneath and I really think we've done this the right way although it had some attended risks as we made these massive changes last quarter.

    Joel Fishbein -- BTIG, LLC -- Analyst

    Great, thank you.

    Operator

    Thank you. Our next question comes from the line of Aaron Rakers Wells Fargo. Your line is now open.

    Aaron Rakers, -- Wells Fargo -- Analyst

    Yeah, thanks for taking the questions as well. So I want to go back to that last question and just understand the variables at play to underpin what looks to be a 17%-plus sequential increase in your implied software license revenue this quarter.

    I think with that in mind, it would be helpful to understand exactly what degree of funnel pipeline growth that you've been seeing and what assumptions are you making in terms of converting those funnel opportunities into recognized revenue? I'm just trying to understand the basis for that increase conservatism wise or what you see to drive that level of sequential growth?

    Robert Hammer -- Chairman, President and Chief Executive Officer

    So the funnel growth Aaron is material and significant. I mean it's -- we're talking about a very major increase in the growth of funnel, particularly in large enterprises and particularly in the Americas and the assumptions we're making on funnel close what I call reasonable and Brian can answer that question.

    So we're not putting big close rates on these areas of the funnel and then the other thing that goes along with this is our we've had predictive models here that are quite sophisticated and they've been quite accurate and our predictive analytics also look really good relative to the guidance we just provided.

    Brian Carolan -- Vice President and Chief Financial Officer

    Yeah, I think just to follow on with Bob's point, we're using fairly typical and average close rates applying that to the current quarter funnel. Again, we see a healthy uptick in our enterprise deal funnel heading into this quarter, which we're pleased with. Although I did say that could be lumpy at times, we're still, we're pleased with that number in available funnel.

    Robert Hammer -- Chairman, President and Chief Executive Officer

    I think, Aaron, you saw a lot of this and this kind of validates what you saw it go since you were there and what you heard on the floor.

    Aaron Rakers, -- Wells Fargo -- Analyst

    Yeah, and just a quick follow-up, I'm just curious, I think last quarter Bob, in response to your question, you said that basically 98% I think was the number that the total sales force realignment efforts have been completed.

    As we look at the leverage that you're presenting to us going forward, I'm curious of what else is there in terms of sales realignment or for that matter, sales headcount reduction efforts that should be anticipated in front of us if there are any?

    Robert Hammer -- Chairman, President and Chief Executive Officer

    I would say the bulk of this is behind us, but as we go forward and bring the leadership in, which we've done, I think over time we will continue to refine that model. So I think there are additional benefits to be gained on efficiency, but those are incremental relative to what we just went through.

    Aaron Rakers, -- Wells Fargo -- Analyst

    Okay, thank you.

    Operator

    Thank you. Our next question comes from the line of Jason Ader of William Blair. Your line is now open.

    Jason Ader -- William Blair -- Analyst

    Thanks. Bob, thank you for the CEO search update. I guess my question on that is, five months into when you announced it and we haven't seen any announcements yet. So I guess why is it taking so long? Is there anything you can give us some more color on that?

    Robert Hammer -- Chairman, President and Chief Executive Officer

    I'll just make the comment that the search committee is making very good progress on the CEO search.

    Jason Ader -- William Blair -- Analyst

    Okay. Fair enough. And then over the last few years, we've seen a series of restructuring and pricing and packaging changes. I know that you guys are optimistic on the things that you're implementing right now, but why should investors believe that this time is going to be different?

    Robert Hammer -- Chairman, President and Chief Executive Officer

    Well, the only validation is for us to hit the numbers. That's the only real validation. All I can say is the funnel growth and the types of deals we're seeing now are in a different category than we've seen in our history. So a lot of the deals -- there is a lot of deals that are in the multiples of millions of dollars and it's both mainly in the Americas and AMEA, primary in multiple million this is call it $3 million, $4 million, $5 million, $6 million kind of deals and they're accelerating.

    So we've got that, that's real and these deals are well scrubbed and they're moving through the funnel well. In addition, we've never had the strength of our product line for the bid market, where our appliances are complete and really getting our prices in line and we've eased that up with a lot more resources and focus.

    So I think fundamentally, we didn't try to do a quick fix here. We try to really understand the market dynamics and address it.

    In addition, let me be clear about this, if you look at our platform for the cloud, a real cloud platform to manage data and migrate it to the cloud and manage it in as a scale out platform and with Linux functionality, I think there is a stronger platform in the industry than what we have here at Commvault.

    And we've been able to take the next step and enhancing that platform for let's call it multiple exabytes scale, which we anticipate will be in the market sometime early next fiscal year. It's not that far away. So I think technically we're in a really good position.

    I think we're seeing the real traction from the consolidation taking place in the enterprise across the Board for data management functions. I think cyber is a big driver of that and we've had really good success in taking major customers and they when they recover from major cyber attacks, we had most present at our Go Conference as a good example of that.

    Clearly, things like GDPR compliance are playing a role of that and the cloud is becoming increasing important and I don't think there is any platform on the planet that allows customers to natively use the cloud and all its aspects like we have.

    So in spite of the changes the things we made, I think the company is fundamentally in a extremely strong strategic position to accelerate growth and we have established a much more efficient cost structure to drive the bottom line.

    Jason Ader -- William Blair -- Analyst

    Thanks.

    Operator

    Thank you. Our next question comes from the line of Andrew Nowinski of Piper Jaffray. Your line is now open.

    Andrew Nowinski -- Piper Jaffray -- Analyst

    Okay. Thank you very much. Good morning. So looking at Slide 21, your assumptions for repeatable revenue growth suggest growth of just 17% in fiscal '19. I think that decelerates to about 16% by fiscal '21, despite the mix continuing to increase.

    Is that factoring in price declines or why should we expect repeatable growth to basically top out at the fiscal '19 level for just at the start of the transition and we haven't seen an impact from renewals yet?

    Brian Carolan -- Vice President and Chief Financial Officer

    Well, again we're trying to be a little bit conservative with our guidance out there Andy. So I think that we'll see an acceleration. By FY '21, will be the first meaningful year, where we see renewals start to happen, but we want to be reasonable with our expectations and so we actually see that happen.

    Andrew Nowinski -- Piper Jaffray -- Analyst

    Okay. Fair enough. And then in Europe, if I looked at the software revenue, it actually did decline about 17% this quarter despite the GDPR tailwinds. I guess, can you just give us an update on what's going on in Europe and other competitors, such as (inaudible) any pressure on your ability to grow revenue in Europe there?

    Robert Hammer -- Chairman, President and Chief Executive Officer

    No. The EMEA team is consistently -- met their number or beat it and last quarter we basically took the field out for about six weeks as we're going through this whole transition. So in some sense, the quarter really didn't start till the 1st of August.

    As far as we know their expectations for Q3 are for us very, very significant quarter-on-quarter growth. So I think what we've stated is accurate, that you can't draw any long-term conclusion from what happened last quarter, we really believe that the majority of that was disruption.

    Andrew Nowinski -- Piper Jaffray -- Analyst

    Okay, thanks, Bob.

    Operator

    Thank you. Our next question comes from the line of John DiFucci of Jefferies. Your line is now open.

    John DiFucci -- Jefferies -- Analyst

    Thank you. I have a question for Brian and then maybe a follow-up for Bob. So Brian thanks again for all that information on the transition of this subscription model, that's all really helpful. But when we look at that -- the utility revenue, I think that's one piece that's going to cause some questions and I just want to make sure we understand that.

    Can you tell us about what the size or the percentage or the revenue of that revenue is like on an annual basis and if you can, what the annual retention of that utility revenue is even if it's on a customer basis that we can sort of ascertain how repeatable that is?

    Brian Carolan -- Vice President and Chief Financial Officer

    Sure. So the utility portion of the subscription revenue or repeatable revenue is actually -- it's relatively small in the grand scheme of the total. I would say that our retention rate is extremely high on that.

    This is often a pay-as-you-go model based on usage. It's a quite sticky revenue stream that repeats typically every quarter and what we're trying to do with the ACV metric is trying to annualize that as well, because it is on a run rate that is somewhat predictable for us. And it's not -- the majority of the revenue is not even close to that. We didn't say what's the number is, but it is the smaller portion of that total.

    John DiFucci -- Jefferies -- Analyst

    Okay. Well that's a start. So thanks, it's small, but it does have a pretty high retention rates. So that's good to hear. Okay. And Bob listen, so just to go along some of the questioning here, Commvault always had strong vision and products, sometimes getting to market has been a challenge, getting the products to market, but both -- both of those points, it's always been strong vision in compelling and end product, but go-to-market execution seems to have been spotty over history.

    And you said this in this quarter, the disruption was greater than you expected and so we've heard like in the field of like higher than normal voluntary sales personnel attrition and it's -- so that seems like the disruption is going to be -- it's going to persist here and I guess how do you recover from that?

    I know you're trying to shift more to partners, but that also increases some risk to any kind of shift those right. So I guess to some of those questions around like how do you feel confident about 9% growth next year, is it the fact that you just don't need sales as much as you did before with the shift to more of a product or partner-driven go-to-market strategy, because even in that case I don't know, it just seem to be pretty important here.

    Robert Hammer -- Chairman, President and Chief Executive Officer

    Now, let's be clear. Sales is still really critical and the surprise if you want to call it a surprise is we've always been strong in the enterprise and it drove a lot of our growth in our early years.

    And the enterprise for a couple of years shifted to buying point products, the next shiny box or whatever and that began shifting probably about six months ago, maybe a little longer so a consolidated holistic play in the enterprise and that's really accelerated and those -- that whole series of, bear if I just went through on consolidation, cost, cyber compliance and I'll just mention offline here that we've automated so much of the processes within data management now.

    So we've taken a lead in automation both on premise and the cloud. So you've got this massive shift in the enterprise that is more holistic enterprisewide solutions that requires a really strong enterprise sales force and I mentioned earlier, when we started Advance, but we wanted more leverage with distribution partners in the enterprise and now we've got the combination of those two.

    And then the mid-market, even though we shifted more resources to partners that's a process that is not going to happen in a day. It is happening as we speak, we're seeing in, but that engine will gain momentum quarter-on-quarter. So the answer is sales for our business is still extremely important and yes, there's no doubt when you make major changes like this and these are fundamental. We didn't try to band aid it and we did it quickly.

    You're going to see some disruption because it's not only structure that we changed. Its comp and a lot of other things and pricing. So I believe the pluses well outweigh the risks on the bottom, but I don't want to minimize that we won't see some attrition, disruption as we manage our way through that. But I think it will be manageable, because we got so many strengths now for our salespeople to hit their quotas and make a lot of money.

    John DiFucci -- Jefferies -- Analyst

    So it sounds like sales or voluntary sales attrition from what we're hearing in the field, it sounds like it's accurate, but there's so many things going on here that you think you'd be able to offset that?

    Robert Hammer -- Chairman, President and Chief Executive Officer

    Yes, and look some of that goes on when you make major change.

    John DiFucci -- Jefferies -- Analyst

    Yeah, OK. Well thank you guys.

    Operator

    Thank you. Our next question comes from the line of Alex Kurtz of KeyBanc Capital Markets.Your line is now open.

    Alex Kurtz -- KeyBanc Capital Markets -- Analyst

    Yeah, thanks guys. Good morning. I just want to follow up on that last question, Bob, are you taking any specific actions with your top reps to incentivize them, specifically to stay on for the next couple of quarters as you go through this transition, is there any specific actions you're taking? I know there is a lot of organizational changes here. I was wondering if there was a program around the sales force around retention.

    Robert Hammer -- Chairman, President and Chief Executive Officer

    The answer is just in general we are taking specific action in specific cases and trying to make it easier for our sales teams to earn their quotas. There is not a general corporatewide action. There are specific actions in the field.

    Alex Kurtz -- KeyBanc Capital Markets -- Analyst

    Okay. And Bob just competitively in the US, especially I know there's been a lot of discussion last couple of earnings calls around a couple of emerging platforms that are competing in the channel, just any kind of update in what you're seeing quarter-to-date, year-to-date, any changes sequentially?

    Robert Hammer -- Chairman, President and Chief Executive Officer

    Well, in the enterprise, we're seeing a significant resurgence against all the competitors, legacy and the new competitors in the midmarket and certain, I'll call lower scale deployment enterprise. We clearly see the new converged guys in the market and they have a lot of momentum, but now you've got a Commvault with a full product line and much stronger distribution, to deal with that I can say.

    When we get into head-to-head competition now when we are there, we have a really high win rate, because it's just the breadth and depth of what we're doing in terms of -- and having products that are not only competitive, what they have, but go way beyond their capability, particularly in our ability to move data into the cloud to manage it in the cloud and manage it back for a data protection that all the automated and orchestration capabilities we have for debt test DRs and a class by itself now.

    So I think we're in a really solid position technically and I think we've done a lot to fundamentally change our -- and strengthen our go-to-market. So I think internally we feel really good about all those although it was painful in the near term.

    Alex Kurtz -- KeyBanc Capital Markets -- Analyst

    Understood. And Brian, just last question for me, I think historically you've called out the subscription headwind, but the dollars, I think you've kind of projected what the delta would have been. Sorry if I missed it this earnings call, but have you called that out yet?

    Brian Carolan -- Vice President and Chief Financial Officer

    No, we didn't put a number on that. I'd say it's fairly consistent with what we did in prior quarters. It's probably in that $3 million to $4 million range, the headwind.

    Alex Kurtz -- KeyBanc Capital Markets -- Analyst

    Great. Okay. All right, thanks guys.

    Operator

    Thank you. Our next question comes from the line of Eric Martinuzzi of Lake Street. Your line is now open.

    Eric Martinuzzi -- Lake Street -- Analyst

    Yeah, my question has to do with couple of your key channel partners, just wondering sometimes I've grown num to the HPE, the annual HPE announcement or the annual NetApp announcement. Obviously given the shift to channel dependency here and away from the direct side, what have we done differently this year versus past years?

    I feel like you've always had products that play well with them, but what are the one or two significant changes with those two key partners?

    Robert Hammer -- Chairman, President and Chief Executive Officer

    I'll take HP and I'll let Al take the NerApp. The difference is that we have what I call fully integrated online plays with HP. So when they go to market, they go to market with a solution that includes Commvault as far as solution and that's brand new.

    That agreement was completely new agreement that was executed this summer and basically went into market over the last couple of months. We have significant deals in the funnel with them that are real that will most likely close this quarter.

    In addition to that, for example, HB had 30 people at our partner conference this year and they've had of storage that's working with us outline globally, all their major accounts with Commvault, so that's really good on the ground integration with HP. So they put the resources, we have the aligned plays. We've got pricing. So we got I'd say extremely good alignment with them and they're putting a lot of resource behind our partnership.

    So I'm really confident about kind of where we are with them and we're also seeing it in our funnel growth. So it's radically different from anything we've had in the past with HP and its brand new and I'll let Al take the NerApp.

    Al Bunte -- COO

    Yeah, and I think NetApp is similar to what Bob just said on HPE. Lots of programs, lots of campaigns, lots of sales initiatives, but I think overall, one that Bob didn't talk about, it's applicable across all of our major particularly storage or infrastructure partners is our ability to deal with software-defined secondary storage.

    Notably came out with our HyperScale both Appliance and reference architecture programs and I think, Eric and you would know this, we're seeing a major, major battleground developing for secondary storage. It's all predicted that there's going to be a huge amount of movement in this direction.

    We also think in the current market that there is lot of vulnerability, to older technologies, expensive technologies and again the modern scale-out HyperScale environment is extremely compelling. So we see a number of again what I'd call historic storage suppliers wanting to participate in this kind of trend.

    Robert Hammer -- Chairman, President and Chief Executive Officer

    Yean and Al just made a really good point and HyperScale in HP's case, they drive that on their Apollo, whether Apollo servers. So it's not just appliances, it's on their own server infrastructure for secondary storage and concurrent with that, there is no doubt that our platform and its ability to seamlessly manage data on premise and in the cloud across an enterprise is a major strategic advantage versus anybody out there.

    Eric Martinuzzi -- Lake Street -- Analyst

    Okay. Because that's -- they don't lack for people looking out your competitors also have programs with them. So I'm glad to hear there is higher level of executive commitment for you guys.

    Brian Carolan -- Vice President and Chief Financial Officer

    Higher level of integration.

    Robert Hammer -- Chairman, President and Chief Executive Officer

    And to be clear in HPE case and they do have a competitor, in the enterprise they're focused with Commvault and the enterprise. The HPE play is mainly a large enterprise -- global large enterprise play.

    Eric Martinuzzi -- Lake Street -- Analyst

    Okay. Thank you.

    Operator

    Thank you. And I'm showing no further questions at this time. Ladies and gentlemen, thank you for participating in today's conference. This concludes today's program. You may all disconnect. Everyone have a great day.

    Duration: 74 minutes

    Call participants:

    Michael Picariello -- MD of Americas Research

    Robert Hammer -- Chairman, President and Chief Executive Officer

    Brian Carolan -- Vice President and Chief Financial Officer

    Joel Fishbein -- BTIG, LLC -- Analyst

    Aaron Rakers, -- Wells Fargo -- Analyst

    Jason Ader -- William Blair -- Analyst

    Andrew Nowinski -- Piper Jaffray -- Analyst

    John DiFucci -- Jefferies -- Analyst

    Alex Kurtz -- KeyBanc Capital Markets -- Analyst

    Eric Martinuzzi -- Lake Street -- Analyst

    Al Bunte -- COO

    More CVLT analysis

    Transcript powered by AlphaStreet

    This article is a transcript of this conference call produced for The Motley Fool. While we strive for our Foolish Best, there may be errors, omissions, or inaccuracies in this transcript. As with all our articles, The Motley Fool does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company's SEC filings. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability.

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    Leveraging Cloud Services | killexams.com real questions and Pass4sure dumps

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    Clouds provide a number of services to support running applications. IBM SmartCloud Enterprise provides services for compute resources, image development, network resources, virtual block-storage devices, software bundle management, and SSH key management. Fully leveraging these services requires a new mindset, because they typically replace services that you might traditionally have asked someone else to provide (and then taken for granted). Suppose you're planning to host a new deployment. In a traditional IT environment, you might interact with an administrator in a data center, who would ask you a number of questions. Then, after some investigation and negotiation, you would add your server to a rack in the data center, assign an IP address to it, and set a firewall rule. Finally, the system administrator would leave you to manage data storage, backup, patching, and other tasks independently. On the cloud, these services become part of the cloud's self-service user interface or API.

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