Cloud Company RingCentral Ups Growth Prospects
Providing a cloud solution to a business usually requires having several different communications protocols running within the cloud. Many times, businesses have to adopt various service providers for their communication needs. RingCentral has staked its claim on providing a proverbial “one-stop-shop” for communication for companies. The business’s revolutionary take on Communication-as-a-service (CaaS) has seen a lot of promise. The company posted its fourth-quarter results for 2019 on Monday, showing the business surpassing the $1 billion of annual revenue. The prospects for the company’s growth seem even better as they announced a new partnership with Atos.
The Consolidation of Necessary Software
The revolutionary element of RingCentral’s CaaS offering goes beyond the standard benefits that a company can get from the cloud, such as reliability and ease of access. Instead, RingCentral provides a single interface for text, voice, and video that a business can utilize in their everyday operations. The company’s programmable interface makes it ideal for companies that have different needs. RingCentral’s foreign presence has yet to be expanded upon, and the business may need to look into dedicating a larger budget to its marketing department to achieve that goal.
Leveraging Partners for Growth
RingCentral’s partnership with Atos, itself a market leader in digital productivity suites, is only the latest in a series of collaborations with high-profile companies. For the past few years, AT&T has been marketing RingCentral’s products to its cloud clients, and communication vendor Avaya signed on with the company to be its exclusive UCaaS provider. Over the next several years, RingCentral’s name may start showing up more often, as it starts leveraging the massive user bases that partnerships with Avaya and Atos will afford the company. So far, giant tech companies haven’t caught on to the viability of this space, and for the time being, RingCentral is dominating the market.
