RingCentral Press Releases

BELMONT, Calif.--(BUSINESS WIRE)-- RingCentral, Inc. (NYSE: RNG), a leading provider of AI-first global enterprise cloud communications, video, webinars, hybrid events, and contact center solutions, today announced that Tarek Robbiati and RingCentral mutually agreed that Robbiati would separate from the company and resign from the Board of Directors, effective December 8, 2023. Robbiati’s resignation is not a result of any disagreement with the Company or the Board, or any matter relating to the Company’s operations, policies, or practices. Vlad Shmunis, RingCentral’s founder and Executive Chairman of the Board, has returned to his full-time role as Chief Executive Officer. Shmunis will remain Chairman of the Board.

Rob Theis, Lead Independent Director of RingCentral, said, “RingCentral’s strategic product vision and operations are closely linked, and we determined it is best to have one leader with oversight for all aspects of the organization. As RingCentral’s founder and long-term CEO, Vlad has overseen the Company’s growth from inception to a leading SaaS provider with over $2.2 billion in revenue. We are confident that he will be effective in his return as CEO and will continue delivering for all our stakeholders. We appreciate Tarek’s contributions and wish him well.”

“We are at a tremendous inflection point in our industry and it is critical that our product and innovation strategy drives all that we do and is closely aligned with how we go to market,” Shmunis said. “We have a world-class team, battle-proven technology, and a clear roadmap with a large and untapped market opportunity ahead of us. I am fully committed to RingCentral and am confident in our ability to drive sustainable, profitable growth moving forward that is rooted in our core values of trust, innovation, and partnerships.”

Robbiati said, “I have the utmost respect for the RingCentral team. I wish the company and its people the very best. RingCentral has tremendous products and I believe the Company will continue to deliver for its customers and shareholders.”

Reiterates Fourth Quarter and Full Year 2023 Guidance

RingCentral reiterated its previously issued fourth quarter and full year 2023 guidance range on revenue, non-GAAP operating margin and adjusted, unlevered free cash flow, as previously issued on November 6, 2023.

About RingCentral

RingCentral is a leading global provider of AI-first cloud-based business communications and collaboration that seamlessly combines phone system, messaging, video, webinars and hybrid events, and contact center. 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.

©2023 RingCentral, Inc. All rights reserved. RingCentral, RingSense, RingCX, RingCentral Events, and the RingCentral logo are trademarks of RingCentral, Inc.

Forward-Looking Statements

This press release contains “forward-looking statements,” including but not limited to, statements regarding our business plans, initiatives, objectives and outlook, our ability to execute on such plans, initiatives and objectives successfully and in a timely manner, changes to the Company’s leadership and governance structure and the timing and benefits thereof and our future financial results, including our GAAP and non-GAAP guidance. Forward-looking statements are subject to known and unknown risks and uncertainties, and are based on assumptions that may prove to be incorrect, which could cause actual results to differ materially from those expected or implied by the forward-looking statements. Among the important factors that could cause actual results to differ materially from those in any forward-looking statements are the risks and uncertainties included under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” in our most recent Form 10-Q filed with the Securities and Exchange Commission, and in other filings we make with the Securities and Exchange Commission from time to time.

All forward-looking statements in this press release are based on information available to RingCentral as of the date hereof, and we undertake no obligation to update these forward-looking statements, to review or confirm analysts’ expectations, or to provide interim reports or updates.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231211482515/en/

Source: RingCentral, Inc.

BELMONT, Calif.--(BUSINESS WIRE)-- RingCentral, Inc. (NYSE:RNG), a leading provider of AI-first global enterprise cloud communications, video meetings, collaboration, and contact center solutions, today announced that Gartner has recognized RingCentral as a Leader in the 2023 Magic Quadrant for Unified Communications as a Service (UCaaS), Worldwide report, making this RingCentral’s ninth year in a row being named to the Leaders quadrant.

“Enterprise communications continues to be a rapidly evolving market, particularly with innovations in AI advancing capabilities across industries and job functions, including healthcare, sales, contact centers, and overall employee workflows,” said Kira Makagon, Chief Innovation Officer, RingCentral. “We believe RingCentral’s AI-first communications platform for messaging, video, phone, and contact center will continue to disrupt the market and drive optimal productivity and efficiency for businesses around the globe. We are truly proud to be recognized once again by Gartner as a Leader in this year’s Magic Quadrant for UCaaS, Worldwide report. As a pioneer in this industry, we feel this recognition is the result of RingCentral’s unwavering dedication to innovation.”

With more than 400,000 business customers worldwide, RingCentral continues to innovate by bringing the power of AI-first solutions across its product portfolio. In 2023 alone, the Company introduced its AI platform, RingSense™, with its first deployed solution in the market targeted at revenue-generating teams, RingSense for Sales. In addition, RingCentral launched its native, AI-first contact center, RingCX™, and its new events platform, RingCentral Events™, an all-in-one solution for virtual, onsite, and hybrid events.

The 2023 Gartner Critical Capabilities for UCaaS report, which accompanies the Magic Quadrant report, also reveals that RingCentral is ranked #1 in three out of the six product or service use case categories ranking, as follows:

• #1 for UC with Integrated Contact Center Use Case
• #1 for Midsize Enterprise Use Case
• #1 for Telephony Centric/Heavy Organizations Use Case.

To download a complimentary copy of the 2023 Gartner Magic Quadrant for Unified Communications as a Service, Worldwide report, click here.

Disclaimer

Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally, and MAGIC QUADRANT is a registered trademark of Gartner, Inc. and/or its affiliates and are used herein with permission. All rights reserved.

Gartner, Magic Quadrant for Unified Communications as a Service, Worldwide, Pankil Sheth, Megan Fernandez, November 30, 2023.

About RingCentral

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 businesses with AI-first conversation intelligence, and unlocks rich customer and employee interactions to gain insights and 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, RingSense, RingCX, RingCentral Events, and the RingCentral logo are trademarks of RingCentral, Inc.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231205271808/en/

Source: RingCentral, Inc.

RingCentral survey finds Australian workers positive about this year’s business outlook, and the impact of AI on the workforce; the jury is still out on the current quality of AI’s work, and its threat to jobs.

22 May 2023 — RingCentral, Inc. (NYSE: RNG), a leading provider of AI-powered global enterprise cloud communications, video meetings, collaboration, and contact centre solutions, today announced the findings of its recent worker survey, revealing positivity about overall business conditions and mixed feelings about the introduction of artificial intelligence (AI) in the workplace. Younger Australian workers and decision makers see more promise in the future of AI. However, fears for their future jobs do exist.

Key highlights include:

• Despite uncertain global economic conditions, workers have a favourable view of their company's outlook for 2023. Overall, 79% believe that their jobs are secure and 64% that their company’s financial performance will increase.

• Two-in-five (41%) of workers believe AI advancements will positively impact the Australian workforce, which goes up to 49% among 21–34-year-olds but down to around a third among those over 45.

• 43% of decision makers are most excited by the ability AI can have to free up their time. They cite virtual assistants, transcription, knowledge management, and meeting recaps the most valuable AI capabilities to them.

• One third of all workers (34%) and nearly four-in-ten (39%) decision makers believe AI will replace many work roles within 20 years, while just 22% of decision makers are nervous AI may take their job. Overall, 19% of workers are nervous that AI will take their job, which climbs to 26% for younger workers (21–34-year-olds).

• AI taking over our jobs is only the third highest prediction for how  technology will evolve over the next 20 years - the top was solar-powered everything (45%) and 3D print everything (34%).

• For workers who already know of AI being used in their industry, 51% have mixed feelings about the quality of the work produced by AI, 36% felt good about it, and just 2% felt the quality was poor and not worth the level of oversights and edits needed.

• Valuable capabilities of AI cited by workers include virtual assistance (27%), note-taking and transcription (26%) and knowledge management (24%)

“AI won’t necessarily be replacing human workers, but it will increasingly play a role in aspects of the work that many of us do today. With an estimate this month from Mandala Partners that 500,000 Australians are working in the top 10 occupations most exposed to generative AI technologies, the attitudes of these workers and others to the adoption of AI is absolutely critical. In our research, and in other research we have seen recently, we are still suffering from a skills shortage. Retaining and attracting staff continue to be the top challenges for most organisations. As we introduce greater levels of AI into the workplace, we need to be thinking about the impact it’s having on our teams, their morale and overall satisfaction," said Peter Hughes, Area Vice President, RingCentral.

Working arrangements
Workplace arrangements have stabilised, with most Australian full-time workers in an in-person work arrangement (68%) while one-quarter (27%) are hybrid and 5% full-time remote. Among the few who are fully remote, nearly two thirds have an in-person option but choose to stay remote. For information workers, 41% are in an in-person work arrangement, 48% are hybrid and 11% are full-time remote.

Preferences about hybrid working have remained steady from RingCentral’s earlier research. Australian workers are more likely to prefer a hybrid work arrangement (48%), which is nearly 3-in-5 among (59%) for information workers. Of those working full time in-person, 48% would prefer to be hybrid or fully remote, which climbs to 63% of information workers. Current hybrid workers are the happiest with their work arrangements, with just 5% preferring to work in-person (which drops to 2% for information workers).

RingCentral’s research found that the two biggest challenges companies will face this year are hiring good employees (48% of all respondents and 50% of decision makers) and retaining current workers  (44% of all respondents and 47% of decision makers). 

“It’s pretty clear from our research that to both retain and attract talent, you need to be offering your employees more options in how they work, especially your information workers. In this survey, we’ve seen a drop in people saying they have a good work/life balance and an increase in feelings of burnout, so we need to be careful not to tip the scales too far in changing our working arrangements,” said Hughes.

About RingCentral 

RingCentral is a leading global provider of cloud-based business communications and collaboration solutions that seamlessly combine phone, messaging, video meetings, and contact centre. RingCentral empowers customers with AI-powered conversation intelligence that unlocks insights from their 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 Contact Centre and the RingCentral logo are trademarks of RingCentral, Inc.

Research methodology
 

• Ipsos surveyed 1,000 Australian residents aged 21-65.  

• All respondents are currently full-time workers (defined as working full-time, having 2 part-time jobs, or being full-time self-employed). 

• Surveys were conducted in the United States, the United Kingdom, Australia, France, and Germany from 19/01/23 to 31/01/23. 

• Statistical margins of error are not applicable to online non-probability polls. All sample surveys and polls may be subject to other sources of error, including, but not limited to coverage error and measurement error. The precision of Ipsos online polls is measured using a credibility interval. In this case, the poll has a credibility interval of plus or minus 3.8 percentage points for all respondents. Ipsos calculates a design effect (DEFF) for each study based on the variation of the weights, following the formula of Kish (1965). This study had a credibility interval adjusted for design effect of the following (n=1,002, DEFF=1.5, adjusted Confidence Interval=+/-5.3 percentage points).