RingCentral Named Leader in Magic Quadrant Study
Gartner's Magic Quadrant studies have done a lot of good in helping outside viewers better understand the nature of a particular market. By knowing who the top firms are, and which firms are likely to be up-and-coming in a market, it's easier to tell where to focus attention. In the 2016 version, Gartner named RingCentral as a Leader in its Unified Communications as a Service (UCaaS) category of Magic Quadrant study.
The Magic Quadrant study focuses on two main points: completeness of vision and ability to achieve that vision. Companies are then ranked according to these two points, and placed in a grid of four squares: the Magic Quadrant grid. Companies scoring high on both fronts are called Leaders, while those who score high in completeness but low in ability are called Visionaries. Low completeness and high ability are called Challengers, while those low on both scales are called Niche Players.
RingCentral, meanwhile, took a Leader ranking thanks to its completeness of vision and ability to execute, as demonstrated by a 42 percent growth in recurring subscriptions as compared between the second quarters of 2016 and 2015. RingCentral also offers a complete array of options for users, including standards like voice, video and conferencing functions as well as enhancements like short message service (SMS) options, online meetings, messaging tools and even fax service.
Current chairman, CEO and founder of RingCentral Vlad Shmunis commented, “Our mission at RingCentral is to empower global businesses with the most comprehensive cloud communications and collaboration solution that unifies all the capabilities they need to stay connected and be productive. We are honored to receive this recognition once again from Gartner and to be placed in the leaders quadrant and furthest to the right on vision. We believe this position validates our focus on innovation and the investments we’ve made in professional services and customer success. Our cloud solution uniquely addresses business needs in ways that legacy players cannot.”
The numbers don't lie here, and illustrate nicely why RingCentral has both the necessary completeness of vision and the ability to act on that vision to make it a Leader in the Magic Quadrant study. With these points in hand, it's safe to assume that RingCentral will carry on in its push to control the market. There will be plenty of other firms eager to take a slice of that market, though, and will bear watching.
Whether these are Challengers who add vision, Visionaries who bolster the ability to execute or just Niche Players who hit a sudden streak of sheer good luck, anyone can be a Leader, and anyone can turn the market on its head. That's the triumph and the challenge of the Magic Quadrant study, and soon, we'll see who holds the position and who makes some changes, for good or ill.
Edited by Alicia Young