Avaya Holdings (AVYA - Free Report) and RingCentral (RNG - Free Report) recently announced that the Avaya Cloud Office by RingCentral solution has been made available in the U.K., Canada and Australia. The companies also rolled out several new features and capabilities for the offering.
The latest announcement is in sync with Avaya’s focus on expanding Avaya Cloud Office’s international presence. Markedly, the company has formed master agent partnerships with CommsPlus, Telarus, SYNNEX Corporation and ScanSource, among others, to distribute the product in the aforementioned countries.
The companies also launched a promotional offer for Avaya Cloud Office that provides customers who sign up now with a 20% discount on purchase and full free month of service.
Avaya Cloud Office is a UC-as-a-Service (UCaaS), which is built on RingCentral’s open platform, offers services including video conferencing, messaging, calling, file sharing and collaboration across any device or user location. It is designed to aid customers reduce the cost and complexity of operations by providing all the services in a single solution.
The coronavirus-led lockdowns have increased the need for companies to enhance their communications infrastructure. As a result, the international launch of Avaya Cloud Office is likely to drive incremental adoption of the product. This, in turn, is expected to boost the company’s top line in the upcoming days.
Strengthening Capabilities Hold Promise
Since Avaya Cloud Office’s launch in March, Avaya has added several key capabilities to the product to make it more attractive for potential customers.
The product now comes with expanded support for Avaya endpoint devices which makes it easier for customers to organize meetings in conference rooms with enhanced sound quality.
Moreover, Avaya Cloud Office features migration tools which enable customers to move from Avaya UC premise-based platforms to Avaya Cloud Office in a seamless manner. Features like Call Park and Page allows customers to transition from existing Avaya platforms without changing their current processes.
Further, customers can use the UCaaS tool along with their other office tools, including Microsoft’s (MSFT - Free Report) Office 365 and Alphabet’s (GOOGL - Free Report) Google G-Suite. This allows them to complete their work without having to switch between applications.
These robust features are anticipated to drive adoption of the Avaya’s new offering amid the coronavirus-led global lockdown which has spurred the necessity of remote working. As the demand for offsite working surges, companies offering effective communications software and services are expected to grow exponentially.
Notably, Avaya Cloud Office has already been adopted by Canadian healthcare and social services provider –– CIUSSS Est-de-l’Ile-de-Montreal. The organization will leverage Avaya’s offering to maintain efficient and seamless communication amid the ongoing pandemic.
Additionally, the enhanced capabilities combined with the international launch are expected to strengthen Avaya’s position in the UCaaS market, which per Mordor Intelligence data, is expected to witness a CAGR of 25.7% between 2020 and 2025.
Nevertheless, Avaya, which currently carries a Zacks Rank #2 (Buy), is facing competition from the likes of Dropbox and Cisco, which is a headwind.. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Biggest Tech Breakthrough in a Generation
Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.
A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.
See 8 breakthrough stocks now>>