It has been observed that the backups are failing with "Failed to acquire the shared resources. (Error: 2916 - CIFS cannot connect to share)"
From the vRanger server, it is possible to connect to CIFS share via DNS name but not with IP.
OR in 7.1.1, the error is:
Error: 2034 - FATAL cifs_cant_use_detail CIFS cannot connect to share \\<repository>\<repository folder> (The specified network password is not correct.) [at cifs_mount:125]
WORKAROUND
Update needs to be removed from the server or Domain Controllers in order to access the Repository with IP (or FQDN) and to run backups successfully.
STATUS
Enhancement request FT-707 has been submitted to Development for consideration in a future release of vRanger