The platform is one of four megatrends that are guiding innovation at RingCentral
RingCentral has recorded a 500 percent year-over-year growth in revenues generated by its Microsoft Teams integration.
The integration allows users to seamlessly access RingCentral through a Teams desktop or mobile app, making it easy for companies to combine Teams’ collaboration tools with a market-leading PBX.
Microsoft has struggled to replicate such a PBX, with many businesses sticking to the Microsoft Teams Phone. However, the tech giant is ramping up its contact center capabilities.
For now, though, many companies are searching for native integrations with leading CCaaS providers to grow the support function, increase collaboration, and share critical customer insights.
RingCentral is one of several providers to offer such an integration. Yet, its success perhaps lies in its additional routing and dialing capabilities, which differentiates its offering.
During a recent earnings call, Vlad Shmunis – Founder, Chairman, and CEO at RingCentral – articulated this point. He said:
“What we set out to do was simply to provide the world’s best Teams integration, which, at this point, we already have.
Between direct routing and embedded dialer, we really are the only sizable vendor to support both. That opens up a tremendous amount of opportunities for us.
As RingCentral evolves, it has established four growth drivers that it wishes to seize upon, with one of those being Microsoft Teams in the enterprise. Such a trend offers an opportunity for a well-integrated, enterprise-wide UCaaS and CCaaS solution.
The three other megatrends include hybrid work in the post-COVID era – for which Teams is again a critical differentiator – mobile business solutions, and the UCaaS-CCaaS convergence.
As Teams-enabled businesses start to scale and build bigger contact centers, this convergence becomes critical as they being to add telephony to the mix.
Shedding more light on this trend, Mo Katibeh, COO at RingCentral, said:
The large majority of Teams customers are on E1 or E3 licenses, which do not include any sort of phone or telephony service, a key part of any business identity. This creates an immediate opportunity to complete the cloud communication suite by adding a well-integrated UCaaS solution like RingCentral.
Many companies also have E5 licenses. Yet, these still require a calling plan to interact with people outside of the business. RingCentral can provide this alongside integrated contact center options.
The offering has facilitated rising revenues at RingCentral, with total earnings reaching $468 million in the first quarter of 2022.
Another factor that may have enabled this growth includes its March release of several new CX capabilities, such as its new virtual agent hub, custom reporting, and HubSpot integration.