Vodafone Business Expands Global Communications Offerings to Include RingCentral’s Native Contact Center Solution, RingCX

Rhea-AI Summary

RingCentral (NYSE: RNG) is expanding its strategic partnership with Vodafone Business to offer Vodafone Business Contact Center with RingCentral, powered by RingCX™. This expansion adds Contact Center as a Service (CCaaS) to Vodafone's existing Unified Communications as a Service (UCaaS) offering. Vodafone Business will extend its UC with RingCentral to 30 markets globally by early 2025.

The new contact center solution features AI-driven tools for call summaries, transcripts, automated scorecards, and coaching. It also includes voice and 20+ digital channels. The rollout will start in the UK, followed by Germany later this year. This expansion aims to enhance customer experiences and drive operational efficiency for Vodafone's multinational customers.

Positive

• Expansion of strategic partnership with Vodafone Business to offer CCaaS
• Extension of Vodafone Business UC with RingCentral to 30 markets by early 2025
• Integration of AI-driven tools in the contact center solution
• Potential for customers to save up to 30% in operating costs

Negative

• None.

Insights

Financial Analyst

The expansion of Vodafone Business's global communications offerings to include RingCentral's contact center solution is a strategic move that has several financial implications. Firstly, this partnership allows Vodafone Business to tap into the growing demand for cloud-based communication solutions, which can be a significant revenue driver. The global shift towards remote and hybrid working models has accelerated the adoption of such technologies.

From a financial point of view, this move is likely to provide incremental revenue streams for both companies. Vodafone aims to cover 30 markets, which could potentially increase their customer base and enhance their market share. The financial benefit also extends to operational efficiencies. As highlighted, customers could save up to 30% in operating costs by switching from traditional systems to cloud-based solutions. This cost-saving aspect is enticing for potential clients, thereby improving customer acquisition and retention rates.

Furthermore, the global reach of this offering can diversify Vodafone's revenue sources, reducing dependence on any single market. However, the success of this initiative will depend on the execution and customer adoption rates. Investors should keep an eye on the adoption metrics and customer feedback in the initial markets like the UK and Germany.

Tech Expert

The integration of AI-driven tools such as call summaries, transcripts and automated scorecards within this offering is a notable advancement. These features can significantly enhance the efficiency and effectiveness of contact center operations. For example, AI-driven coaching tools can help agents improve their performance, leading to better customer interactions and higher satisfaction levels.

From a technology perspective, the inclusion of over 20 digital channels including social media platforms is a important aspect. This allows businesses to meet customers on their preferred platforms, ensuring a seamless and omnichannel customer experience. The AI tools provide valuable insights and analytics, which can be used to fine-tune customer service strategies and improve overall business outcomes.

However, one challenge could be the integration of these new AI tools with existing systems and ensuring data privacy and security, especially as the service spans multiple countries with different regulations. Continuous innovation and updates will be essential to maintain a competitive edge and customer trust.

Market Research Analyst

The partnership between Vodafone Business and RingCentral to offer a comprehensive cloud-based communication solution is strategically aligned with current market trends. The demand for Unified Communications as a Service (UCaaS) and Contact Center as a Service (CCaaS) is growing, driven by the increasing need for remote work solutions and enhanced customer interaction capabilities.

Market dynamics suggest that this collaboration positions Vodafone Business to cater to a broad range of enterprises looking to modernize their communication infrastructure. Entering new regions such as South America, the Middle East and Africa can open up additional revenue opportunities and strengthen Vodafone's global footprint. Market adoption will likely depend on how effectively Vodafone can localize the solutions to meet regional requirements and preferences.

While the benefits are clear, potential challenges include intense competition from other UCaaS and CCaaS providers like Microsoft Teams and Zoom, which also offer robust cloud communication solutions. The key differentiator will be how well Vodafone can integrate these advanced features and demonstrate tangible benefits to prospective customers.

Vodafone Business to extend current UC offering to more than 30 countries globally

BELMONT, Calif.--(BUSINESS WIRE)-- RingCentral, Inc. (NYSE: RNG), a leading provider of AI-driven cloud business communications, contact center, video and hybrid event solutions, today announced that it is expanding its strategic partnership with Vodafone Business to offer Vodafone Business Contact Center with RingCentral, powered by RingCX™. By offering Contact Center as a Service (CCaaS) along with its Unified Communications as a Service (UCaaS) offering, Vodafone Business UC with RingCentral, Vodafone Business will enable its multinational customer base to provide exceptional customer experiences. In addition, Vodafone Business will extend Vodafone Business UC with RingCentral to 30 markets in total during early 2025.

Vodafone Business Contact Center with RingCentral makes it simpler for companies to establish and operate contact centers by equipping agents with artificial intelligence (AI), including call summaries, transcripts, automated scorecards, conversational insights, and coaching to deliver seamless customer experiences. Vodafone Business Contact Center with RingCentral also features key data insights along with voice and 20+ digital channels including web, messaging, and leading social media channels. Starting in the UK followed by Germany later this year, Vodafone Business will progressively roll out the service to other markets.

As a comprehensive cloud-based communications solution that replaces traditional systems, Vodafone Business UC with RingCentral is already accessible in 20 markets across Europe, North America, and Asia-Pacific. This platform enables businesses to combine messaging, video meetings, fax, file sharing, and virtual phone systems through a single user interface accessible on any internet-enabled device. Supporting hybrid working models worldwide, it allows employees to quickly access the same set of services regardless of location and device, whether at home, in the office, or in the field.

"Our strategic partnership with Vodafone Business continues to drive innovation in global communications,” said Homayoun Razavi, EVP, Chief Business Development Officer, RingCentral. “With the addition of Vodafone Business Contact Center with RingCentral, powered by RingCX, we're ensuring businesses can meet their customers wherever they are in their journey, while also driving operational efficiency. As we work to empower organizations worldwide to adapt to the evolving digital workplace, we’re providing them with AI-driven tools that optimize communication workflows for better business outcomes.”

Vodafone will look to extend Vodafone Business UC with RingCentral to new regions, such as South America, the Middle East and Africa region, as well as cover additional EU and Asia Pacific countries during the first half of next year. Vodafone Business manages all local operator agreements, regulatory compliance, data sovereignty, and number porting, saving customers time and resources.

“Our expanding portfolio of unified communications services is ideal for customers looking to expand geographically whilst maintaining agile and sustainable hybrid working models,” said Marika Auramo, Chief Executive Officer, Vodafone Business. “By switching to the cloud from rigid fixed systems, customers can add services when required, paying only for what they need. We estimate this will save many of them up to 30% in operating costs by reducing administrative costs and IT operational expenses whilst boosting productivity and collaboration. On the customer service side, we’re excited to now deliver CCaaS to our growing customer base with Vodafone Business Contact Center with RingCentral, powered by RingCX, as organizations look for new, innovative ways to elevate customer engagement and provide superior customer experiences.”

About RingCentral

RingCentral is a leading provider of AI-driven cloud business communications, contact center, video and hybrid event solutions. RingCentral empowers businesses with conversation intelligence, and unlocks rich customer and employee interactions to provide insights and improved business outcomes. With decades of expertise in reliable and secure cloud communications, RingCentral has earned the trust of millions of customers and thousands of partners worldwide. Visit ringcentral.com to learn more.

©2024 RingCentral, Inc. All rights reserved. RingCentral, RingCX, and the RingCentral logo are trademarks of RingCentral, Inc.

About Vodafone Group

Vodafone is a leading European and African telecoms company. We provide mobile and fixed services to over 330 million customers in 15 countries (excludes Italy which is held as a discontinued operation under Vodafone Group), partner with mobile networks in 45 more and have one of the world’s largest IoT platforms. In Africa, our financial technology businesses serve almost 79 million customers across seven countries – managing more transactions than any other provider.

Our purpose is to connect for a better future by using technology to improve lives, businesses and help progress inclusive sustainable societies. We are committed to reducing our environmental impact to reach net zero emissions by 2040.

For more information, please visit www.vodafone.com, follow us on X at @VodafoneGroup or connect with us on LinkedIn at www.linkedin.com/company/vodafone.

Registered Office: Vodafone House, The Connection, Newbury, Berkshire RG14 2FN, England. Registered in England No. 183367

View source version on businesswire.com: https://www.businesswire.com/news/home/20240717870735/en/

RingCentral

Mariana Leventis

+1 650-562-6545

mariana.leventis@ringcentral.com



Vodafone

Investor Relations

Investors.vodafone.com

ir@vodafone.co.uk



Media Relations

Vodafone.com/media/contact

GroupMedia@vodafone.com

Source: RingCentral, Inc.

FAQ

What new service is RingCentral offering through its partnership with Vodafone Business?

RingCentral is offering Vodafone Business Contact Center with RingCentral, powered by RingCX™, which is a Contact Center as a Service (CCaaS) solution.

How many markets will Vodafone Business UC with RingCentral (RNG) expand to by early 2025?

Vodafone Business UC with RingCentral will expand to a total of 30 markets globally by early 2025.

What AI-driven features does the new Vodafone Business Contact Center with RingCentral (RNG) include?

The new contact center solution includes AI-driven features such as call summaries, transcripts, automated scorecards, conversational insights, and coaching tools.

Where will Vodafone Business first launch the new contact center service with RingCentral (RNG)?

Vodafone Business will first launch the new contact center service in the UK, followed by Germany later in the year.