Cisco and Bank of America: Videoconferencing Giants

BusinessWeek has a great article about Cisco, HP, and Bank of America. It outlines the differences between Cisco's and HP's strategies for the fast-growing videoconferencing market, and it goes over details of a recent massive agreement between Cisco and Bank of America.

Basically, HP's videoconferencing solution is called is Halo Telepresence Solutions, which it developed with DreamWorks Animation back in 2005. DreamWorks has since then collaborated with HP on videoconferencing, including for creating the film How To Train Your Dragon. The HP Halo solution is geared more toward creative, fast collaboration. DreamWorld CTO Ed Leonard has said that HP's technology has allowed his studio to create films at its breakneck pace, three a year.

Cisco's videoconferencing products have also garnered high praise from high places. Proctor and Gamble Co. has stated that the company saved $4 for every $1 it spent on Cisco's TelePresence solution, which is good because the company installed 70 units. Each unite can cost more than $250,000. Proctor and Gamble said it saved money by reducing travel costs and increasing efficiency.

Now, Cisco is announcing its largest corporate partnership, yet. Bank of America plans to install 200 Csco TelePresence videoconferencing systems by the end of 2010. Presently, the banking giant uses 28 systems for employee meetings and training. Cisco's TelePresence solution will allow as many as 48 locations to collaborate simultaneously. As the workforce and economy spreads out on a global scale, this sort of massive videoconferencing solution will become more and more common. As for right now, it sure is exciting.