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Ericsson (ERIC) Subsidiary Vonage Enhances Voice Communication

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Vonage, a wholly owned subsidiary of Ericsson (ERIC - Free Report) , recently introduced the Vonage Enhanced Noise Cancellation to boost customer support agents’ productivity and deliver a premium client experience.

Voice communication plays a crucial role in businesses, particularly in the customer support domain. However, in a busy contact center environment, maintaining top-notch audio quality is challenging due to a multitude of reasons, such as background voices, fan sounds, acoustic echo and more. Lack of communication clarity during inbound calls can severely impact the productivity of agents, delay issue resolutions and negatively affect business prospects.

Vonage Enhance Noise Cancellation effectively addresses these issues. Leveraging machine learning capability, it effectively mitigates disruptive background noises and voices, speeding up the issue resolution time. Vonage’s noise cancellation embedded with Krisp’s voice AI technology ensures clear communication regardless of the environment on either side. To avail these advanced features, users simply have to click add the noise canceling feature on their VCC dashboard.

The solution boosts call recording capability and captures call data with greater precision. The meaningful insights drawn from superior data analytics enable businesses to solve issues faster and establish clear, concise and uninterrupted two-way communication. Currently in beta, this advanced technology is set to be widely available in April 2024.

The solution will be a game changer for organizations seeking to foster stronger connections with customers. Vonage Noise Cancellation feature is already witnessing healthy traction across industries. A leader in power generation equipment, Champion Power Equipment, and financial institutions like Lowell Five Savings Bank have already deployed the solution in their Vonage Contact Centers. Both organizations have reported solid improvement in agent’s productivity and customer satisfaction.

Headquartered in New Jersey, Vonage became a wholly-owned subsidiary of Ericsson in 2022. This global leader in cloud communication services offers a comprehensive suite of communications APIs, including voice, video, messaging and verification, as well as a portfolio of AI-capable, low-code/no-code programmable components that leverage and simplify the development of applications.

In 2023, Ericsson witnessed solid net sales growth in the Enterprise segment driven by the acquired Vonage businesses. ERIC is well positioned to cash in on the market momentum with its competitive 5G product portfolio. The company continues to execute its strategy to become a leading mobile infrastructure provider and establish a focused enterprise business. The acquisition of Vonage underscores Ericsson’s strategy to expand its presence in the wireless enterprise market. It currently has 158 live 5G networks across the globe, spanning 67 countries.

The stock has lost 1.3% over the past year against the industry’s growth of 21%.

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Zacks Rank & Stocks to Consider

Ericsson currently carries a Zacks Rank #3 (Hold).

Nokia Corporation (NOK - Free Report) , carrying a Zacks Rank #2 (Buy). It has a long-term earnings growth expectation of 9.4%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

The company is well-positioned for the ongoing technology cycle, given the strength of its end-to-end portfolio. Its installed base of high-capacity AirScale products, which enables customers to upgrade to 5G quickly, is growing fast.

Pinterest (PINS - Free Report) , carrying a Zacks Rank #2 at present, delivered a trailing four-quarter average earnings surprise of 37.42%. In the last reported quarter, it delivered an earnings surprise of 3.92%.

Pinterest is increasingly establishing a unique value proposition to advertisers that could provide a competitive advantage in the long haul. Through various innovations, it continues to dramatically improve the advertising platform, which appears to be one of the best ad platforms for consumer discretionary brands looking for ways to reach customers and stretch smaller ad budgets.

Qualcomm Incorporated (QCOM - Free Report) , carrying a Zacks Rank #2 at present, delivered a trailing four-quarter average earnings surprise of 5.90%. In the last reported quarter, it delivered an earnings surprise of 15.55%.

With the accelerated rollout of 5G technology, it is benefiting from investments toward building a licensing program in mobile. The company is well-positioned to meet its long-term revenue targets driven by solid 5G traction, greater visibility and a diversified revenue stream. The company is increasingly focusing on the seamless transition from a wireless communications firm for the mobile industry to a connected processor company for the intelligent edge. This augurs well for the long-term growth proposition of the company.

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