RingCentral RNG recently rolled out a video-conferencing product — RingCentral Video (RCV) — amid a work-from-home boom due to the coronavirus-led lockdown. The company is offering the video product as another component of its RingCentral Office at no additional cost across North America.
With message video-phone capabilities, RingCentral’s RCV offers services, including business voice, SMS and fax. Built on RingCentral’s open platform, RCV provides a complete browser-based experience to users. Therefore, users won’t have to download and install an application for joining, hosting or scheduling a meeting or conference.
RingCentral has picked Google’s Chrome browser as its debut platform for RCV. Additionally, the company noted that users can use this UCaaS tool, along with their other office tools, including Microsoft’s MSFT Office 365, Alphabet’s GOOGL Google G-Suite, and Salesforce CRM.
Two of its key channel partners, AT&T T and Avaya Holdings AVYA, will also begin offering RCV through their cloud-based office platforms. While AT&T would be offering this office tool via its AT&T Office@Hand, Avaya will offer under the recently-launched Avaya Cloud Office.
The company has also decided to offer RCV solution for free to healthcare providers, educators, NGOs, news organizations and the public sector.
Ringcentral, Inc. Price and Consensus
Well Timed Amid Coronavirus-Led Lockdown
RingCentral’s launch of its RCV product is well timed amid the coronavirus-led global lockdown which has spurred the necessity of remote working. As the demand for offsite working surges, companies offering remote-working software and services are expected to grow exponentially.
Apart from remote workers, RingCentral’s RCV solution is anticipated to be rapidly adopted by online educators and tele-health providers. Remote diagnosis would help tele-health providers adhere to social-distancing norms without compromising on patient healthcare.
The recently-launched RCV has enhanced RingCentral Office’s capabilities. This UC-as-a-Service (UCaaS) Office tool now provides a comprehensive solution for calling, chat, video and audio meetings and collaborations, file and desktop sharing, task management and other services.
Furthermore, the RCV launch might tarnish RingCentral’s long-term partnership with Zoom Video Communications ZM, as the video chat product now directly competes with the latter’s video conferencing expertise. Zoom Video provides a unified communications platform that combines video, audio, phone, screen sharing and chat functionalities.
While RingCentral carries a Zacks Rank #3 (Hold), Zoom Video has a Zacks Rank of 2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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