New Independent Study Shows That Using RingCentral MVP And RingCentral Contact Center Together Help Customers Realize a ROI of 211% Over Three Years
RingCentral, Inc. (NYSE: RNG), a leading provider of AI-powered global enterprise cloud communications, video meetings, collaboration, and contact center solutions, today announced the findings of a commissioned Forrester Consulting Total Economic Impact™ (TEI) study showing that a composite organization representative of interviewed customers integrated RingCentral MVP® (Message Video Phone™) and RingCentral Contact Center™ realized a return on investment (ROI) of 211% over three years.
Forrester Consulting interviewed RingCentral customers in four industries, including in healthcare, fintech, automotive, and technology, to quantify the potential costs and benefits of replacing disparate, on-premises contact centers and unified communications applications with RingCentral's cloud-based, tightly integrated solutions.
"Today's macroeconomic environment is driving greater demand for demonstrable returns on IT investments. Enterprises focusing their IT spend on their customer and employee experiences using a seamlessly integrated solution will generate greater efficiencies and better outcomes," said Mo Katibeh, president and chief operating officer, RingCentral. "With RingCentral, customers have enterprise-grade message, video, and phone - with best-in-class contact center on a single platform, delivering quantifiable value to their organizations, as we believe is highlighted in the first Forrester TEI study for RingCentral's UCaaS and CCaaS."
The ongoing cost of infrastructure associated with on-premises contact centers was a huge burden for the customers that participated in the study. The global IT operations director at a inancial technology organization-who was interviewed for the study-said, "in FY19, we were spending around between $2.1 million and $2.4 million on running our legacy phone system. We've projected an annualized saving over three years of $1.25 million by switching to RingCentral."
With RingCentral, the composite organization representative of surveyed customers achieved the following benefits, which drove the 211% ROI:
Forrester Consulting also found additional, unquantified benefits, including better decision-making capabilities through the use of strong data analytics, improved customer experience, and higher revenue with the use of RingCentral's outbound dialer, as well as better contact center process standardization.
Forrester's TEI research is a methodology developed by Forrester Consulting that enhances a company's technology decision-making processes and assists vendors in communicating the value proposition of their products and services to clients. The TEI methodology helps companies demonstrate, justify, and realize the tangible value of IT initiatives to both senior management and other key business stakeholders. Forrester Consulting will walk through the details of the research methodology and findings from the Forrester TEI study in a webinar scheduled for June 28.
To view the full TEI study, visit https://www.ringcentral.com/report/rc-cc-mvp-forrester-tei.html
RingCentral is a leading global provider of cloud-based business communications and collaboration solutions that seamlessly combine phone, messaging, video meetings, and contact center. RingCentral empowers customers with AI-powered conversation intelligence, which unlocks insights from interaction data to accelerate 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.
© 2023 RingCentral, Inc. All rights reserved. RingCentral, RingCentral MVP, RingCentral Contact Center, and the RingCentral logo are trademarks of RingCentral, Inc.
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