After looking at several P2V-V2P solutions, we chose CA ARCserve. The choice has several benefits. The primary one is that it allows us to use a single tool for both data protection and for physical/virtual conversions. Essentially, this means a flat learning curve for my team. The other benefit is that CA ARCserve is significantly less expensive that dedicated P2V tools. CA did a case study on how we use their product and it is now online.
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