Frost & Sullivan Awards RingCentral for its Innovation-backed Growth in the Hosted IP Telephony and UCaaS Market
The company's solid technological foundation ensures that it continues to innovate, scale operations, deliver excellent service performance, and enhance customer value
SANTA CLARA, California, Dec. 3, 2019 /PRNewswire/ -- Based on its recent analysis of the North American hosted Internet protocol (IP) telephony and Unified Communication-as-a-Service (UCaaS) market, Frost & Sullivan recognizes RingCentral, Inc. with the 2019 North American Market Leadership Award. RingCentral has achieved user and revenue share leadership on the back of innovation and a vision to deliver comprehensive, secure, and reliable communications solutions to businesses. With approximately 2 million users globally and a compound annual growth rate (CAGR) of approximately 33 percent over the past five years RingCentral was declared by Frost & Sullivan the clear market leader in the region.
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"RingCentral's portfolio meets the requirements of global businesses with geographically dispersed teams in need of harmonized communications and collaboration tools," said Elka Popova, Vice President of Connected Work research. "As businesses become increasingly customer-centric, RingCentral is responding with advanced contact center and customer experience capabilities integrated with its UCaaS solutions. Besides portfolio enhancements aimed at serving new business segments, international expansion, and a greater focus on the reseller channel, RingCentral consistently employs strategies that enable it to maintain or accelerate growth rates despite rising market maturity and competition."
RingCentral stands out with one of the richest UCaaS feature sets in the market. The company's service bundles comprise a broad array of communications and collaboration services, including cloud private branch exchange (PBX); voicemail and visual voicemail; instant messaging and presence (IM/P); online fax; audio, video, and web conferencing; mobility; contact center; call recording; and team collaboration. RingCentral recently introduced several new capabilities such as RingCentral Embeddable, which allows developers to quickly and easily embed communications features into business applications, and an expanded application programming interfaces (API) library.
Using a proprietary cloud-based platform enables RingCentral to innovate more rapidly and gain a competitive edge over providers reliant on third-party technologies. RingCentral supplements internal development with strategic technology acquisitions and partnerships. For instance, in 2015, RingCentral acquired Glip, adding chat and team collaboration capabilities to its portfolio. RingCentral also has a long-standing partnership with business video collaboration leader Zoom and leading cloud contact center provider NICE inContact to deliver advanced video conferencing capabilities and customer care solutions as part of its UCaaS portfolio. The partnerships enable the participating providers to cross-sell and deliver greater value to their customers.
"To ensure its cloud solutions deliver the desired outstanding user experience, RingCentral provides robust IT management capabilities and administrative controls," noted Popova. "Its high user growth rates underline its ability to offer excellent customer purchase and ownership experiences. Continued improvements in the areas of service quality, management, security, and deployment will ensure that RingCentral continues to deliver exceptional customer experiences and expand its user base. Strategic resale partnerships with important industry leaders such as AT&T and Avaya will create additional growth opportunities for RingCentral."
Each year, Frost & Sullivan bestows this award upon the company that demonstrates excellence in growth and customer value. Attaining loyal customers who become brand advocates allows the company to grow and achieve a market leadership position. By committing to the customer at each stage of the buying cycle and continuing to nurture the relationship, the Market Leadership Award recognizes a company's increased market share over time.
Frost & Sullivan 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 to identify best practices in the industry.
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About RingCentral
RingCentral, Inc. (NYSE:RNG) is a leading provider of global enterprise cloud communications, collaboration, and contact center solutions. More flexible and cost-effective than legacy on-premises systems, the RingCentral platform empowers employees to work better together, from any location, on any device, and via any mode to serve customers, improving business efficiency and customer satisfaction. The company provides unified voice, video meetings, team messaging, digital customer engagement, and integrated contact center solutions for enterprises globally. RingCentral's open platform integrates with leading business apps and enables customers to easily customize business workflows. RingCentral is headquartered in Belmont, California, and has offices around the world.
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