RingCentral has won a 1,000+ seat contact center megadeal with a Fortune 500 company.
The deal will see the business migrate to the RingCX CCaaS platform, which couples with RingCentral’s MVP UCaaS suite.
That tight integration is crucial to the deal, which also includes 25,000 MVP licenses.
Sharing more details, Tarek Robbiati, CEO of RingCentral, said during an earnings call:
Using a combination of RingCentral MVP and RingCX, we’re able to help them reliably connect drivers to dispatchers while integrating seamlessly into their other technology workflows.
Such large-scale deployments of RingCX are an impressive feat, with the platform still in controlled availability.
Nonetheless, Vlad Shmunis, Founder & Executive Chairman at RingCentral, revealed that approximately 50 companies have already selected RingCX, and many more are in the pipeline.
“We’ve seen a robust demand for contact centers and especially for a contact center that’s closely integrated with [our] UCaaS solution,” he concluded.
RingCX Enterprise Wins a “Pleasant Surprise”
Much of the demand for RingCX comes from the enterprise, surprising Shumnis. He confirmed:
We’re already seeing multi-thousand-seat wins. Frankly, it’s been a pleasant surprise.
By making this point, Shumnis reaffirms that RingCX is not strictly limited to the SMB and midmarket – as many first expected.
Indeed, Shumnis initially introduced the solution by stating: “We’ve recognized an additional need for a native intelligent contact center solution that would be better suited towards addressing simpler use cases.”
That seemed to suggest that the enterprise was not the target market. Yet, RingCentral’s founder highlights how many larger customers are prioritizing these “simpler” use cases as a foundation to build from.
Still, that foundation includes the latest AI, with RingCentral recently embedding RingSense capabilities into RingCX, bolstering the platform’s native conversational intelligence features.
Yet, it’s not the all-encompassing platform that enterprise contact centers typically leverage to overcome the complexity within their service environments.
For this, enterprises often seek the support of a CCaaS stalwart.
Recognizing this, RingCentral retains its close partnership with Forrester Wave market leader NICE – a vendor it has often worked with on larger CCaaS deals.
However, news of these enterprise wins perhaps signals a shift in this relationship.
The vendor may now nurture many of these opportunities for itself and collaborate with NICE when customers have several specific, niche requirements.
RingCentral also works with many other CCaaS platform providers, tightly integrating its MVP suite with Avaya, Five9, and – most recently – AWS.
But, when brands wish to keep their service proposition streamlined and build gradually on top of it – RingCX may prove the best-placed solution.
RingCentral Becomes the CCaaS Vendor That Offers Choice
In CCaaS, RingCentral seems determined to offer customers greater choice in their CCaaS migrations.
Yet, the evolution of RingCX also highlights the vendor’s vision to become a multiproduct business.
“RingCX is just one example of a new product we’ve recently introduced,” said Robbiati. “Going forward, we will focus on continuing to invest in our new products, as well as their related go-to-market rollouts, to ensure they will be successful.”
Such investment aligns with the first of the new CEO’s five critical focuses for helping RingCentral deliver on its potential. These are:
- Continuing to innovate and build a multiproduct business
- Focusing more deeply on customer segments and key verticals
- Expanding partnerships
- Growing internationally
- Increasing operational productivity.
To achieve this first goal, RingCentral also rolled up Hopin – introducing several new big-name brands to the business. These include DELL, Spotify, and Reddit.
That acquisition proved a prominent focus of the analysts who joined RingCentral’s earnings call.
During the call, the vendor revealed that its revenue jumped 10 percent year-on-year (YoY), causing RingCentral stock to surge by seven percent overnight.
