Vonage Awarded for Cloud Communications
The early part of January is often filled with awards of recognition from the previous year. Frost and Sullivan last week completed its annual review of the cloud communications market, and awarded Vonage with the 2016 North America Award for Product Line Strategy Leadership. The company cited Vonage’s recent efforts to expand and diversify its cloud based communications offerings to better suit a wide range of clients.
Vonage’s growth in the cloud communications market has been both internal and external. While the New Jersey based communications provider has done some work to improve its cloud communications options that have been developed in house, the company has also made a series of strategic acquisitions of smaller companies that specialize in different aspects of cloud communications in order to diversify its offerings. This is a strong example of a company being aware of both its strengths and weaknesses, recognizing that it has a strong presence in some aspects of cloud communications but that it is also severely lacking in others. Rather than waste resources trying to build up these areas from scratch, Vonage elected instead to absorb and acquire smaller companies that had already begun to specialize in these areas.
This willingness to expand its business offerings through both internal and external development was reportedly the driving factor motivating Frost and Sullivan to present Vonage with this award. Much like a professional sports team that realizes it needs to develop players internally as well as acquire established talent from other teams, Vonage realized that it takes a multifaceted approach to successfully grow a business in the 21st century. The result? Voyage today has one of the most diverse and successful portfolios of cloud based communications offerings, and has been recognized by Frost and Sullivan as a leader in the field.
With the demands of businesses seeking cloud based communications becoming more and more diverse, greater variety of offerings are being asked of communications providers than ever before. Vonage has shown how internal developments and a strategic acquisition strategy can serve to effectively build that offer portfolio.
Edited by Alicia Young