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…in Silicon Valley. We have about, on the premise side about just over 20,000 customers we’ve sold to over the last 16 years, and on the Cloud side we have about 2,000 customers that came to us through our M5 acquisition. Our target market is the worldwide IP telephony market. From a UC standpoint, everything that goes into UC, which is voice, collaboration, IM presence; in both markets, whether it’s premise or hosted, are expected to grow reasonably well. Premise side, I think the growth this year with CAGR over the next five years will be +30%. So, two growing markets, obviously hosted is growing a lot faster, it’s a little smaller. Premise side is about a $15 billion annual market when you put voice, contact center and UC applications altogether.
From a focus standpoint, our focus is certainly to continue to grow the premise business, get that growth rate back up into the 20%, but really focus on software, Cloud and mobility. The two newest areas of our portfolio are really Cloud and mobility. The reason we do so well and we take market share on the premise side is the brilliant simplicity that comes with the architecture that our founder developed 16 years ago, and still is with us today. It leads to great levels of customer satisfaction, a great product, easy to learn, easy to install and the lowest total cost of ownership in the industry. Most of that total cost of ownership doesn’t come from the capital cost up-front when customers buy from us, but it’s really the system management and maintenance of the system, whether it’s moves, adds and changes, or training, or getting users up. We don’t even, in the total cost of ownership we don’t even add in any productivity gains from the employees’ love with our system.