RingCentral Takes Top Spot in IHS Markit UCaaS Scorecard

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Tuesday, May 8, 2018 9:00 am EDT

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LONDON
"8x8 has consistently been near the top of our scorecard, and its market-leading financial position keeps it ahead of providers with larger installed bases"

LONDON (May 8, 2018) – Business information provider IHS Markit (Nasdaq: INFO) today released excerpts from its 2018 UC as a Service (UCaaS) North America Vendor Scorecard, which analyzes and rates the top 10 UCaaS providers in North America: RingCentral, 8x8, Verizon, Mitel, Comcast, Vonage, West, Star2Star, Nextiva and Fuze.  

After tying with 8x8 for the top spot last year, RingCentral emerged as the sole number-one UCaaS provider in this year’s scorecard, thanks to its above average market growth and market share leadership position. “Over the past few years, RingCentral has worked to expand its customer base, continually moving upmarket with a focus on servicing larger businesses. Its investments in professional services and customer care have paid off,” said Diane Myers, senior research director for VoIP and UC at IHS Markit.

Coming in at second and third by the slimmest of margins, respectively, were 8x8 and Verizon. 8x8 had the strongest financials among the top 10 providers, demonstrating an ability to expand its business while maintaining a solid balance sheet. “8x8 has consistently been near the top of our scorecard, and its market-leading financial position keeps it ahead of providers with larger installed bases,” Myers said.

Verizon, meanwhile, continued to show strong acceleration in customer adoption in 2017. The operator is now the third-largest provider based on seats, up from fourth the previous year, and tied for the highest momentum score.

The most significant jump in this year’s scorecard was made by Mitel, which leapfrogged from eighth position to fourth, due in large part to its acquisition of ShoreTel. The acquisition added to Mitel’s UCaaS customer base and gave it a platform to sell its own branded services to the mid-market and smaller companies.

Comcast rounds out the top five UCaaS providers. In the past year, Comcast has become the fifth-largest provider in terms of installed base of UCaaS seats, moving up from seventh as it continues to outpace average market growth. Comcast also received a solid financial score.

“Our scorecard this year shows that while the leading pure-play providers are a force, they have serious competition, particularly among older, more established companies — namely incumbent operators like Verizon, traditional UC vendors such as Mitel, and cable operators like Comcast,” Myers said. “The ongoing demand for UCaaS services is vast, with a broad set of customers and requirements.”

About the IHS Markit UCaaS Scorecard

The 10th edition of the annual IHS Markit UCaaS scorecard identifies the service providers that currently lead the UCaaS market and are best positioned to succeed in the long term. Provider ratings are based on criteria such as installed base of seats, financial stability, market share momentum, service development and support options. Companies making the top 10 include RingCentral, 8x8, Verizon, Mitel, Comcast, Vonage, West, Star2Star, Nextiva and Fuze.

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About IHS Markit (www.ihsmarkit.com)

IHS Markit (Nasdaq: INFO) is a world leader in critical information, analytics and solutions for the major industries and markets that drive economies worldwide. The company delivers next-generation information, analytics and solutions to customers in business, finance and government, improving their operational efficiency and providing deep insights that lead to well-informed, confident decisions. IHS Markit has more than 50,000 business and government customers, including 80 percent of the Fortune Global 500 and the world’s leading financial institutions. Headquartered in London, IHS Markit is committed to sustainable, profitable growth.

 

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