Opportunities to innovate based on just stand-alone UCaaS products are becoming increasingly rare, according to Samuel Wilson, 8x8's Interim CEO.
He made the comments during the company's third-quarter fiscal 2023 earnings call, in which it was revealed that 8x8's service revenue and total revenue had increased 18 per cent year-over-year.
The company saw its cash flow from operations during Q3 increase 72 per cent year-over-year to $15.5 million.
Wilson commented: "We continued to invest in innovation while reducing our service delivery costs and increasing operational efficiency across the organisation.
"As a result, customer retention was at its highest level in several years. GAAP and non-GAAP operating margins were at multi-year highs, and we generated solid operational cash flow.
"I believe our industry is at an inflection point. With our increased focus and investment in research and development, we can leverage our XCaaS first-mover advantage, accelerate CCaaS innovation, and become a true leader across customer experience communications."
Using UC to Drive the Contact Centre
Wilson's comments surrounding opportunities within the UCaaS space further emphasise the company's XCaaS platform to drive customer-focused products as it looks for areas to innovate.
Describing the contact centre marker as "an inflection", the interim CEO admitted the company has not taken advantage of its existing UC customer base, stating: "The first and most important thing, and we have not done a great job of this yet, is cross-selling our contact centre into that UC base."
It appears that 8x8 will use its XCaaS platform to drive its current UC customer base into adopting CCaaS by innovating its features within its portfolio.
"While UCaaS migration continues to create revenue and profit opportunities for efficient providers like 8x8, I believe the opportunities to differentiate based on stand-alone UCaaS are becoming increasingly rare," Wilson added.
