Based on its recent analysis of the World Gigabit Ethernet test equipment market, Frost & Sullivan recognizes VeEX Inc. with the 2009 Global Frost & Sullivan Award for Price Performance Value of the Year, for its ability to provide superior value to customers. In addition to focusing on providing value-added services such as free online training and certification, 24/7 customer service and standard 3-year warranty, and meeting changing customer needs, the company is uniquely committed to offer a higher price/performance value to customers than its competitors.
"While the price difference between VeEX's products and comparable products from competitors has typically been in the 10 to 20 percent range, often reaching 30-40 percent, research indicates that in the Gigabit Ethernet test equipment market, VeEX's products are priced on average 40 percent lower than comparable solutions from the competition," says Frost & Sullivan Senior Research Analyst Prathima Bommakanti. "Offering quality products featuring the capabilities customers are looking for, but at a lower price than that of the competition, has led to increased recognition for VeEX in the communications test equipment industry and more particularly in the Ethernet test equipment market."
Key products for the company's performance in the Gigabit Ethernet test equipment market in 2008 were the MLX300, which is a 10G Loopback device, the MX300, which is a 10/100/1000 Ethernet and 10G Ethernet test product, and the TX300 that supports 10/100/1000 Ethernet, 10G Ethernet, OC192 SONET/SDH and 1/2/4/10G FC.
"Some of the strategies implemented by VeEX to "do more with less" include the use of new technologies such as FPGAs as well as its focus on latest technologies for mainstream items like CPUs, batteries, and chipsets," notes Bommakanti. "The company also focuses on balancing feature and price – no decision on features is made without considering the cost element to it. It also takes into consideration the applicability of a feature to various products."
Since its founding in 2006, VeEX has demonstrated its ability to maintain the highest level of operational readiness and execution. VeEX strives to offer better customer service than that of its rivals by training its extensive network of experienced partners and distributors (approximately 85 around the world) in order to retain its customers and achieve the highest customer satisfaction.
Customers' response to VeEX's offering has been very encouraging, with orders pouring in from leading service providers around the world. Over the past year, the company added between 150 and 200 new customers to its customer base. An important factor behind the rapidly increasing recognition of VeEX among customers is its close working relationships with them. However, the key reason behind its success is the company's ability to provide quality products with many features but at a lower price than the competition. Also, the company's ongoing R&D efforts ensure a strong future for the company in the world Gigabit Ethernet test equipment market.
VeEX's strong research efforts, complemented with partnerships for distribution, will be instrumental to ensure its growing presence in the world Gigabit Ethernet test equipment market. In recognition of its efforts and achievements, Frost & Sullivan is proud to present the 2009 Frost & Sullivan Price Performance Value of the Year Award in the World Gigabit Ethernet test equipment market to VeEX.
Each year, Frost & Sullivan presents this award to the company that has best demonstrated the ability to expand its customer base, while maintaining its existing customer base, with more innovative value creation and enhancement strategies than competing vendors. The award recognizes the company's successful sales entry, customer acquisition and service strategies, and the degree to which those strategies have met customers' stated needs and requirements. Such strategies are expected to significantly improve customer interaction and contribute to customer satisfaction.
Frost & Sullivan's Best Practices Awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research in order to identify best practices in the industry.
About VeEX Inc.
VeEX develops innovative test and measurement solutions for next generation communication equipment and networks. Founded in April 2006 by test and measurement industry veterans, VeEX products blend advanced technology and vast technical expertise with the discerning measurement needs of customers. VeEX products diligently address all stages of network deployment and field service turn-up and integrate Triple Play verification features across DSL, CATV, Mobile, and Metro Ethernet technologies.
About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, enables clients to accelerate growth and achieve best in class positions in growth, innovation and leadership. The company's Growth Partnership Service provides the CEO and the CEO's Growth Team with disciplined research and best practice models to drive the generation, evaluation, and implementation of powerful growth strategies. Frost & Sullivan leverages over 45 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from more than 35 offices on six continents.