It’s been three years since Cisco had an in-person version of Cisco Live, the massive user event that typically draws over 20,000 attendees. I’ve been attending the show since the late 1990s, when I was an engineer and have noticed a significant change in the content in the show. When I first started attending, the event was a hardcore technical show centered around Cisco. Today, the show has become more of an industry show that drives thought leadership in the areas of networking, security and collaboration, similar to what NVIDIA GTC is to AI, VMware VMworld is to virtualization, and Salesforce Dreamforce is to customer experience.
Category: From: No Jitter
Zoom announced its quarterly results for Q1 of the fiscal year 2023 (FY 2023), and the results confirmed that its “land and expand strategy” is working. The company’s revenue rose 12.3% year over year (YoY) to $1.07 billion. It also reported two-quarters of sequential growth for its gross margin, which management attributed to optimizing usage across the public cloud and increasing the number of co-located data centers.
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Zoom’s Land-and-Expand Success Sets Up Its Next Wave of Growth
Two years ago, the entire cloud communications landscape got a kickstart when investors poured money into “work-from-home stocks,” which included the UCaaS and CCaaS providers. For example, Zoom, Five9 and RingCentral had peak market caps of $161 billion, $14 billion and $40 billion, respectively, compared to $28 billion, $6.8 billion and $6.4 billion today.
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The Money Doesn’t Lie: Hybrid Work Boosts Cloud Communications Growth
COVID-19 created a reset in the workforce, decoupling work from the traditional office location. This was the start of the Great Resignation, where an unprecedented amount of people moved on from their jobs in favor of better opportunities. Now more than two years into the pandemic, employee churn is at an all-time high.
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Great Resignation or Reset? Contact Centers Seize the Moment
Sustainability has been a major societal topic for years, but the pandemic thrust it into the business world. The “Great Reset” that we have been experiencing over the past two years has caused every person, city, country, and company to look at the way they operate, thrusting sustainability to the forefront. Almost all large tech companies now have sustainability programs to make the world a better place today but also for generations to come.