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Financials : Banks | Large Cap Value
Company profile

U.S. Bancorp is a financial services holding company. The Company provides a range of financial services, including lending and depository services, cash management, capital markets, and trust and investment management services. It also engages in credit card services, merchant and automated teller machine (ATM) processing, mortgage banking, insurance, brokerage and leasing. Its banking subsidiary, U.S. Bank National Association, is engaged in the general banking business and offers commercial and consumer lending, lending services, depository services and ancillary services. Its non-banking subsidiaries offer investment and insurance products to the Company's customers principally within its domestic markets, and fund administration services to a range of mutual and other funds. The Company's bank and trust subsidiaries provide a range of asset management and fiduciary services for individuals, estates, foundations, business corporations and charitable organizations.


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Avaya Cloud Office(TM) UCaaS Solution Introduced in Five Additional Markets

3:30 am ET November 12, 2020 (BusinessWire) Print

Avaya (NYSE: AVYA) and RingCentral Inc. (NYSE: RNG) today announced that Avaya Cloud Office(TM) by RingCentral(R), the unified communications solution offering team messaging, video meetings, and cloud PBX is expanding availability to five of the largest economies in Europe in December - Austria, Belgium, Germany, Italy, and Spain.

With the addition of these five new countries, Avaya Cloud Office has expanded its global market presence to 12 countries since its U.S. launch in March, with additional markets planned for 2021. Today's announcement comes just weeks after Avaya and RingCentral announced the general availability of Avaya Cloud Office in Ireland, France, and the Netherlands.

"The ongoing global rollout of Avaya Cloud Office is proceeding rapidly in response to high levels of partner and customer interest, and our efforts to meet that demand," said Dennis Kozak, SVP, Business Transformation, Avaya. "Today's announcement brings greater opportunities for European businesses to leverage a compelling UCaaS solution that meets the new needs of a mobile and distributed workforce. Avaya Cloud Office is becoming an important pillar in a meaningful number of our customers' digital transformation strategies, many of which have been significantly accelerated as the world continues to adopt new ways of working. The solution delivers advanced communications features in a flexible and reliable package that meets increasingly varied business needs."

Flexibility is a key draw for businesses adopting Avaya Cloud Office. According to the European Commission's Summer 2020 Economic Forecast(1), the euro area economy is expected to rebound from 2020 and grow by 6.1 percent in 2021. Avaya Cloud Office helps to reduce business uncertainty associated with fluctuating economic forecasts with scalability, migration tools, enhanced devices support, and advanced telephony management among other capabilities.

"Frost & Sullivan's latest analysis of the European UCaaS market finds that European businesses are expected to become increasingly distributed due to a growing number of remote and mobile workers, as well as expanding customer bases, reseller channels and supply chains across multiple countries and regions," said Elka Popova, Vice President - Information & Communications Technologies, Frost & Sullivan. "This trend will drive demand for flexible technology consumption models, mobility, and advanced collaboration tools. In fact, 83% of global IT/telecom investment decision makers responding to a Frost & Sullivan survey report that they will have moved parts or all of their enterprise telephony workloads to the cloud by 2021. Avaya Cloud Office may provide considerable value to businesses looking to adopt feature-rich, flexible cloud solutions to improve business continuity and boost collaboration across distributed teams."

In addition to the features that address current market needs, Avaya Cloud Office customers will enjoy new capabilities, such as:

Enhanced user experience: Avaya Cloud Office will now offer dark theme for easier viewing, integration with Microsoft O365 and Google contacts for easy communication, and desktop phone updates for better navigation. New call features: will enable users to switch from a voice call to a video call with a single click, pick-up calls that are directed to another user's extension, and setup queue overflow to extensions so that more calls are answered vs. getting routed to voicemail. Enhanced video meeting experience and security: Avaya Cloud Office will include admin, host and moderator controls, and password protection. Also, participants will now have the ability to switch their view of the video gallery to one of two new layouts: Film Strip and Active Speaker. This will provide an improved user experience so if users choose, they can focus on who is speaking or presenting without distraction from other users. Continued enhancement of migration tools: will help expedite the customer on-boarding to Avaya Cloud Office. Existing customer configurations such as page groups & user greetings, can now be quickly ported over to Avaya Cloud Office

"As European businesses continue to adapt to the impact from COVID-19, they need reliable, flexible communication solution that gives their workforce the power to communicate from anywhere, using any device, and in any mode," said Phil Sorgen, Chief Revenue Officer, RingCentral. "Since jointly launching Avaya Cloud Office in March, and expanding its availability in new countries thereafter, we've helped organizations adapt quickly to the changing business environment, and now we look forward to doing the same for more customers across Europe."

Avaya Cloud Office is scheduled to be available to new customers in these five countries starting December 2020. To support the latest geographic expansion of the solution, Avaya continues to pursue new master agent partnerships and extend existing partners to new countries to help meet growing regional demand. To date, six new partnership agreements have been implemented across five countries, with more to come.

About Avaya

Businesses are built by the experiences they provide, and everyday millions of those experiences are delivered by Avaya Holdings Corp. (NYSE: AVYA). Avaya is shaping what's next for the future of work, with innovation and partnerships that deliver game-changing business benefits. Our cloud communications solutions and multi-cloud application ecosystem power personalized, intelligent, and effortless customer and employee experiences to help achieve strategic ambitions and desired outcomes. Together, we are committed to help grow your business by delivering Experiences that Matter. Learn more at http://www.avaya.com

About RingCentral

RingCentral, Inc. (NYSE: RNG) is a leading provider of cloud Message Video Phone(TM) (MVP), customer engagement and contact center solutions for businesses worldwide. More flexible and cost-effective than legacy on-premise PBX and video conferencing systems that it replaces, RingCentral empowers modern mobile and distributed workforces to communicate, collaborate, and connect via any mode, any device, and any location. RingCentral's open platform integrates with leading third-party business applications and enables customers to easily customize business workflows. RingCentral is headquartered in Belmont, California, and has offices around the world.

(C) 2020 RingCentral, Inc. All rights reserved. RingCentral and the RingCentral logo are trademarks of RingCentral, Inc.

All trademarks identified by (R), TM, or SM are registered marks, trademarks, and service marks, respectively, of Avaya Inc. All other trademarks are the property of their respective owners.

Cautionary Note Regarding Forward-Looking Statements

This document contains certain "forward-looking statements." All statements other than statements of historical fact are "forward-looking" statements for purposes of the U.S. federal and state securities laws. These statements may be identified by the use of forward looking terminology such as "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "might," "our vision," "plan," "potential," "preliminary," "predict," "should," "will," or "would" or the negative thereof or other variations thereof or comparable terminology. The Company has based these forward-looking statements on its current expectations, assumptions, estimates and projections. While the Company believes these expectations, assumptions, estimates and projections are reasonable, such forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond its control. The factors are discussed in the Company's Annual Report on Form 10-K and subsequent quarterly reports on Form 10-Q filed with the Securities and Exchange Commission (the "SEC") available at www.sec.gov, and may cause the Company's actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by these forward-looking statements. The Company cautions you that the list of important factors included in the Company's SEC filings may not contain all of the material factors that are important to you. In addition, in light of these risks and uncertainties, the matters referred to in the forward-looking statements contained in this press release may not in fact occur. The Company undertakes no obligation to publicly update or revise any forward-looking statement as a result of new information, future events or otherwise, except as otherwise required by law.

Source: Avaya Newsroom

(1) Summer 2020 Economic Forecast: An even deeper recession with wider divergences https://ec.europa.eu/commission/presscorner/detail/en/ip_20_1269

View source version on businesswire.com: https://www.businesswire.com/news/home/20201112005252/en/

SOURCE: Avaya">

For Avaya Media Inquiries: 
Alex Alias

RingCentral media inquiries: 
Jyotsna Grover
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