RingCentral has once again been named a Gartner Magic Quadrant Leader for Unified Communications as a Service (UCaaS), Worldwide. Gartner evaluated 15 UCaaS vendors for 2017, assessing each on both ability to execute and completeness of vision. I’m proud to say that RingCentral continues to be positioned furthest for its completeness of vision and continues to be recognized for its ability to execute. To read the full report, download your complimentary copy here.
According to Gartner, “UCaaS capabilities now exceed those available from premises-based UC. The pace of UCaaS innovation is accelerating as vendors focus R&D resources on cloud delivery.”* I couldn’t agree more. I also believe there are many reasons for our continued success here at RingCentral.
Innovative at our core
One of our key values at RingCentral is to be relentlessly innovative. This means we are focused on delighting our customers and driving long-term business value. Our UCaaS offering is unique in the industry, providing our customers with today’s most complete cloud communications and collaboration solution that includes voice, video, conferencing, online meetings, team messaging, collaboration, SMS, and contact center in a single integrated platform. We provide a full replacement for on-premises systems on a global scale, along with many advanced features that other vendors in the market simply cannot offer at this time.
As the first UCaaS provider to include integrated team messaging and collaboration, RingCentral is pioneering a new era of collaborative communications that empowers today’s digital workforce to work however they want—in any mode, anywhere, anytime, and from any device. Collaborative communications goes beyond unifying different modes of communications, delivering an all-in-one user experience that changes the way people communicate, collaborate, and connect—all within a single cloud platform—to enable greater business productivity and efficiency.
Another key tenet of RingCentral’s innovative approach is our open platform. Technology platforms today must be open to deliver a seamless, integrated user experience across various business applications. The goal is unified experiences, not just unified communications, and enabling the digital workforce to work the way they want.
A global turning point
The market demand for global cloud business communications solutions is accelerating. The debate between on-premises vs. cloud in business communications is over. Industry analysts agree that the on-premises communications market is in decline, while the growth of cloud communications solutions continues to accelerate.
Over the past year, we’ve continued to scale our global delivery capabilities. Today, RingCentral Global Office is available in 32 countries, with more countries on the way. In addition, our flagship solution, RingCentral Office, is available in-market, localized in various languages and currencies in 14 countries. The rapid global adoption we’re seeing is indicative of the fact that global workforces must have access to reliable, secure, high-quality communications. In addition, it’s clear that communications solutions must transcend geographic boundaries and scale easily to meet the needs of global businesses.
Mid-market and enterprise traction
We believe our position as a Magic Quadrant Leader is acknowledgment of our upmarket success. Based on our Q2 2017 earnings results, annualized exit recurring software subscriptions for RingCentral Office grew 37% year-over-year. Our mid-market and enterprise customer segments have been growing the fastest by 80% year-over-year. During our recent earnings announcement, we reported closing seven $1 million+ Total Contract Value (TCV) deals, including one $5 million deal from a Fortune 1000 retailer.
We couldn’t be more proud of these results and believe our traction in the enterprise is further bolstered by continued channel momentum, where we are seeing channel bookings growth of over 100% year-over-year.
Success for 2017 and beyond
Putting it all together, 2017 is turning out to be a very exciting time for RingCentral. We’re accelerating our expansion in the enterprise segment, scaling globally, continuing to innovate, and focusing relentlessly on our customers’ success. I’m incredibly proud of our employees for everything we’ve accomplished and thankful to our more than 350,000 customers worldwide who have helped make RingCentral a leader in the UCaaS industry. Their success is our success.
Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
*Source: Gartner, Inc., Magic Quadrant for Unified Communications as a Service, Worldwide, Daniel O’Connell, Bern Elliot, September 6, 2017.