VMWare International Limited

Kevin McSweeney, Finance 3

Executive Summary

As part of the BSc Finance programme in UCC, I got the opportunity to experience work placement for six months. The purpose of the work placement programme in BSc Finance is to compliment classroom teaching with an exposure to work processes in the Financial Services sector. For my placement, I went to VMWare International Limited, based in Ballincollig. VMWare is a multinational software company which specialises in Virtualisation Technology. I worked in the Finance Department as part of the Global Revenue Support Team.

I was responsible for a number of daily tasks. These included running Detailed Revenue Reports for both our International and Domestic Regions to see what new deals were booked by VMWare and to see what revenue should be recognised from these deals. I carried out Install Base reviews, where a review was done on a delivery quote from VMware to a customer and to see if it matches back to our database in Oracle. These reviews were done to check that all the elements of the delivery were correct, like the price and quantity of a product, so that the revenue for this purchase can be recognised accordingly. I also assisted with the printing of Professional Services information packs so the PSO analysts can review it. I also had other tasks, such as scanning reviewed deal packs up to the company’s hard drive and updating the Intern Induction pack over the course of my internship.

From my experience in VMWare, I have ascertained a number of important skills, such as teamwork, computer literacy and timekeeping. These skills were essential in carrying out my daily tasks, especially at the busier times of the year. I am now far more proficient with computers then when I started. I had to communicate effectively to members within the GRS team when performing my tasks and also with other employees both here and abroad on any problems or queries that I had. My communication skills have also improved by seeing how information is transferred in different ways in the Finance Department, like email, telephone calls and Instant Messaging services.

From my studies in Finance, I was able to apply certain areas of my studies to my role at VMWare. An important area that benefited me was my knowledge of Revenue Recognition criteria from my Financial Reporting modules. Also, my knowledge of computer systems, such as Microsoft Excel in my Applications in Corporate Finance & Accounting module, helped to prepare me for the computer based role that I had.

This internship has given me a valuable insight to what working in the Finance Department of a multinational company is like. I was made to feel at home almost at once and I felt that I was able to integrate myself well with my co-workers. I gained valuable experience here that will benefit me in the future.