2015 Global Video-as-a-Service (VaaS) Product Leadership Award

Transcription

1 2015 Global Video-as-a-Service (VaaS) Product Leadership Award 2015

2 Contents Background and Company Performance... 3 Industry Challenges... 3 Product Family Attributes and Business Impact... 3 Conclusion... 6 Significance of Product Leadership... 7 Understanding Product Leadership... 7 Key Benchmarking Criteria... 8 Best Practice Award Analysis for Lifesize... 8 Decision Support Scorecard... 8 Product Family Attributes... 9 Business Impact... 9 Decision Support Matrix The Intersection between 360-Degree Research and Best Practices Awards Research Methodology Best Practices Recognition: 10 Steps to Researching, Identifying, and Recognizing Best Practices About Frost & Sullivan Frost & Sullivan We Accelerate Growth

3 Background and Company Performance Industry Challenges At a time when business dynamics are changing rapidly in the global economy, with increasing globalization of businesses and costs of international operations skyrocketing, the need for video conferencing is becoming more and more crucial. Today s multinational organizations are faced with multiple challenges, from managing and maintaining efficient communication systems within their vastly dispersed offices across the globe, to streamlining their global supply chain and dealing with the ever-rising costs attached to integrating their global operations. This situation no longer pertains to just the corporate world; the world is changing, and technology is transcending boundaries, resulting in newer industries being faced with ever-evolving globalization needs and challenges. This scenario is more pronounced in industries such as Healthcare and Education, wherein the need for remote monitoring of patients and distance education programs and webinars is at an all-time high. One development that has been the answer to these pressing issues is the emergence of video conferencing. Video conferencing helps eliminate the need for physical presence and enables communication between the headquarters and offices scattered across the globe. It also facilitates cost savings worth billions of dollars for multinationals, along with improved productivity and enhanced outreach. Currently, enterprises pertaining to any industry have reached a point where remote monitoring and tele-consultations have become central to their day-to-day operations. In this context, video conferencing solutions are the key to ensuring consistent and efficient global connectivity. Product Family Attributes and Business Impact Match to Needs As organizations expand their global presence and penetrate newer geographies that span across different time zones, the key issue that every company tries to overcome pertains to inconsistency and lag in communication channels and connectivity. Offering privileges such as flexible working hours and telecommuting becomes essential in such circumstances to ensure the smooth running of operations. These challenges are especially prevalent in the oil and gas industry, wherein the streamlining of utility operations that span across a wide region becomes too expensive and inefficient if trained experts need to be deployed at multiple locations. Lifesize offers a best-in-class video conferencing solution in high definition (HD), which allows experts to monitor every nuance, from energy availability to lake levels, right from their office and in real time, thus eliminating the need for travel. Lifesize's belief in Frost & Sullivan We Accelerate Growth

4 providing its customers with simple, yet state-of-the-art, solutions that eliminate connectivity issues distinguishes Lifesize from its competition. Lifesize offers a range of products and solutions tailored to meet a variety of customer needs. The Lifesize Icon series that was launched in 2013 comprises the Lifesize Icon 400, 600, and 800 video conferencing systems. These systems come with a full package of accessories and software solutions designed to deliver the highest-quality video conferencing capabilities that best suit customer requirements. In addition, the company offers the Lifesize Icon Flex, a USB bring-your-own-device (BYOD) system that helps bring business-class audio and video conferencing to any meeting room, with the added benefit of being able to collaborate with applications like Microsoft Lync, Google Hangouts, Cisco Jabber, Skype, or the company s very own Lifesize Cloud. Reliability and Quality One common and recurring conferencing challenge for multinational corporations is dealing with multiple time zones. In addition, most free video conferencing options suffer from bad connectivity and poor quality. Lifesize, on the other hand, makes video conferencing a quality experience for its customers. Lifesize s solutions come with video cameras and speaker phones, and when paired with Lifesize Cloud, can work with any device (PCs, ios, Android devices, etc.); they are also backed by cloud, thereby making the whole operation easily adoptable by any company. When paired with Lifesize Cloud, the Lifesize Icon systems offer a shared directory, presence enablement in virtual meeting rooms across different connected devices, recording (this feature is expected to be introduced in the future), and reporting analytics and visualization. These features ensure greater reliability and quality of service, thus further distinguishing Lifesize's offering in the market. Product/Service Value Lifesize offers several compelling and extremely affordable options for its customers. The company also hosts demo sessions where customers can experience Lifesize s products, simplicity, and functionalities first-hand. Lifesize also offers a free trial service of its Lifesize Cloud solution, which includes state-of-the-art HD video quality; compatibility with Android and ios devices, including mobile phones, tablets, and laptops; the share-yourdesktop-while-on-a-call feature; as well as a safe and secure connection. These demos help illustrate the superiority in Lifesize s products and services. Because of its sensible pricing options and unrivaled service, Frost & Sullivan sees Lifesize continuing to be a pioneer in innovation and automated distribution in the global market over the coming years. Frost & Sullivan We Accelerate Growth

5 Positioning The global video conferencing market is highly competitive, and positioning is crucial for market participants. Lifesize caters to customers globally and across a diverse range of industries; with respect to some of Lifesize's core products, including Lifesize Cloud, Lifesize Icon and AMS, most of the company's revenue is attributed to the Americas region, while the rest comes from international markets. Lifesize operates in several upcoming industries, such as Healthcare, which presents immense growth opportunities for companies in video conferencing. Additionally, the company utilizes its deep knowledge and expertise in the field of video conferencing and constantly comes up with new and improved technology that ensures enhanced video quality and reliability. Customer Acquisition Recently, the application of video collaboration technology has transcended boundaries to enter the education sector as well. Universities across the globe are trying to provide its students with facilities to improve access to subject-matter experts and collaborate with other universities to enable broader exposure to its students. However, space, distance and time are major constraints. As an example of customer acquisition, Lifesize contributed to solving University of Alberta's need to implement technology initiatives that would enable its students to prepare better for their careers. What the Institution really needed was a video conferencing solution in classrooms a solution that was both portable and scalable, without creating a backlog for IT. The University deployed two of Lifesize s leading products, Lifesize Cloud and Lifesize Icon 400, to address this requirement. Lifesize Cloud provided an HD video conferencing experience and enabled students to interact with subject-matter experts from across the globe, thus eliminating the constraint of space and time. The solution benefited the institution in several ways, allowing collaboration with remote classrooms, making distance learning programs a reality, and facilitating regional staff meetings. The Lifesize Icon 400, on the other hand, is specially designed to support smaller meeting rooms. When paired with Lifesize Cloud, the Lifesize Icon 400 delivers seamless call escalations, offers firewall traversal, and allows participants from around the world to get together and share knowledge. By merely selecting the desired participants' names from the directory, Lifesize Icon 400 with Lifesize Cloud allows simple, point-to-point mobile calls to be converted into a multiple-participant video conference call with HD images and uninterrupted audio, thus tremendously enhancing the experience. Frost & Sullivan We Accelerate Growth

6 Growth Potential Video conferencing is evolving and is currently dominating the business communications space. It has become one of the most appealing communication channels, eliminating a lot of travel needs and providing excellent cost savings and operational efficiency. Because of this, Frost & Sullivan believes that the growth potential of Lifesize s products and solutions is immense, and the company is bound to remain an industry leader. The company s constant investment in innovation and R&D illustrates its commitment to "continued excellence" in the video conferencing space. Conclusion In short, Lifesize has excelled in the global video-as-a-service market, not only by demonstrating technological excellence, but also in terms of the quality of services it renders. By connecting its customers anywhere in the world with superior-quality, easyto-use, affordable, reliable, and highly secure video conferencing systems, Lifesize has certainly shown itself to be a powerhouse in today's video-as-a-service space. Because of its strong overall performance, Lifesize is recognized with Frost & Sullivan's 2015 Product Leadership Award. Frost & Sullivan We Accelerate Growth

7 Significance of Product Leadership Ultimately, growth in any organization depends upon customers purchasing from your company, and then making the decision to return time and again. A comprehensive product line, filled with high-quality, value-driven options, is the key to building an engaged customer base. To achieve and maintain product excellence, an organization must strive to be best in class in three key areas: understanding demand, nurturing the brand, and differentiating from the competition. Understanding Product Leadership Demand forecasting, branding, and differentiation all play a critical role in finding growth opportunities for your product line. This three-fold focus, however, must be complemented by an equally rigorous focus on pursuing those opportunities to a best-in-class standard. Customer communications, customer feedback, pricing, and competitor actions must all be managed and monitored for ongoing success. If an organization can successfully parlay product excellence into positive business impact, increased market share will inevitably follow. Frost & Sullivan We Accelerate Growth

8 Key Benchmarking Criteria For the Product Leadership Award, Frost & Sullivan analysts independently evaluated two key factors Product Family Attributes and Business Impact according to the criteria identified below. Product Family Attributes Criterion 1: Match to Needs Criterion 2: Reliability and Quality Criterion 3: Product/Service Value Criterion 4: Positioning Criterion 5: Design Business Impact Criterion 1: Financial Performance Criterion 2: Customer Acquisition Criterion 3: Operational Efficiency Criterion 4: Growth Potential Criterion 5: Human Capital Best Practice Award Analysis for Lifesize Decision Support Scorecard To support its evaluation of best practices across multiple business performance categories, Frost & Sullivan employs a customized Decision Support Scorecard. This tool allows our research and consulting teams to objectively analyze performance, according to the key benchmarking criteria listed in the previous section, and to assign ratings on that basis. The tool follows a 10-point scale that allows for nuances in performance evaluation; ratings guidelines are illustrated below. RATINGS GUIDELINES The Decision Support Scorecard is organized by Product Family Attributes and Business Impact (i.e., the overarching categories for all 10 benchmarking criteria; the definitions for each criteria are provided beneath the scorecard). The research team confirms the veracity of this weighted scorecard through sensitivity analysis, which confirms that small changes to the ratings for a specific criterion do not lead to a significant change in the overall relative rankings of the companies. Frost & Sullivan We Accelerate Growth

9 The results of this analysis are shown below. To remain unbiased and to protect the interests of all organizations reviewed, we have chosen to refer to the other key players as Competitor 2 and Competitor 3. Measurement of 1 10 (1 = poor; 10 = excellent) Product Leadership Product Family Attributes Business Impact Average Rating Lifesize Competitor Competitor Product Family Attributes Criterion 1: Match to Needs Requirement: Customer needs directly influence and inspire the design and positioning of the product family Criterion 2: Reliability and Quality Requirement: Products consistently meet or exceed customer expectations for performance and length of service Criterion 3: Product/Service Value Requirement: Products or services offer the best value for the price, compared to similar offerings in the market Criterion 4: Positioning Requirement: Products or services fulfill unique, unmet need that competitors cannot easily replicate or replace Criterion 5: Design Requirement: The product features an innovative design, enhancing both visual appeal and ease of use Business Impact Criterion 1: Financial Performance Requirement: Strong overall financial performance in terms of revenues, revenue growth, operating margin and other key financial metrics Criterion 2: Customer Acquisition Requirement: Product strength enables acquisition of new customers, even as it enhances retention of current customers Criterion 3: Operational Efficiency Requirement: Staff is able to perform assigned tasks productively, quickly, and to a highquality standard Frost & Sullivan We Accelerate Growth

10 Criterion 4: Growth Potential Requirements: Product quality strengthens brand, reinforces customer loyalty and enhances growth potential Criterion 5: Human Capital Requirement: Company culture is characterized by a strong commitment to product quality and customer impact, which, in turn, enhances employee morale and retention Decision Support Matrix Once all companies have been evaluated according to the Decision Support Scorecard, analysts can then position the candidates on the matrix shown below, enabling them to visualize which companies are truly breakthrough and which ones are not yet operating at best-in-class levels. High Lifesize Competitor 3 Business Impact Competitor 2 Low Low Product Family Attributes High Frost & Sullivan We Accelerate Growth

11 The Intersection between 360-Degree Research and Best Practices Awards Research Methodology 360-DEGREE RESEARCH: SEEING ORDER IN THE CHAOS Frost & Sullivan s 360-degree research methodology represents the analytical rigor of our research process. It offers a Emerging Technologies Industry 360-degree view of industry challenges, Evolution Smart Cities New Business Technology Cultures trends, and issues by integrating all seven Obsolescence Demographics Crowd Career Sourcing Development Industry of Frost & Sullivan's research Expansion Country Risk methodologies. Too often, companies Buying Competitive New Vertical Behavior Benchmarking Markets Capital Investments make important growth decisions based on Competitive Strategy CEO a narrow understanding of their Availability Emerging of Competition Capital environment, leading to errors of both New Applications Branding Economic and Trends Positioning omission and commission. Successful Needs Growth and Implementation Segmentation Growth Perceptions Strategies Sustainability growth strategies are founded on a GeoPolitical Stability Industry thorough understanding of market, Convergence Disruptive Technologies technical, economic, financial, customer, best practices, and demographic analyses. The integration of these research disciplines into the 360-degree research methodology provides an evaluation platform for benchmarking industry players and for identifying those performing at best-in-class levels. Frost & Sullivan We Accelerate Growth

12 Best Practices Recognition: 10 Steps to Researching, Identifying, and Recognizing Best Practices Frost & Sullivan Awards follow a 10-step process to evaluate award candidates and assess their fit with select best-practice criteria. The reputation and integrity of the Awards are based on close adherence to this process. STEP OBJECTIVE KEY ACTIVITIES OUTPUT 1 Monitor, target, and screen Identify award recipient candidates from around the globe Conduct in-depth industry research Identify emerging sectors Scan multiple geographies Pipeline of candidates who potentially meet all bestpractice criteria 2 Perform 360-degree research Perform comprehensive, 360-degree research on all candidates in the pipeline Interview thought leaders and industry practitioners Assess candidates fit with best-practice criteria Rank all candidates Matrix positioning all candidates performance relative to one another 3 Invite thought leadership in best practices Perform in-depth examination of all candidates Confirm best-practice criteria Examine eligibility of all candidates Identify any information gaps Detailed profiles of all ranked candidates 4 Initiate research director review Conduct an unbiased evaluation of all candidate profiles Brainstorm ranking options Invite multiple perspectives on candidates performance Update candidate profiles Final prioritization of all eligible candidates and companion best-practice positioning paper 5 Assemble panel of industry experts Present findings to an expert panel of industry thought leaders Share findings Strengthen cases for candidate eligibility Prioritize candidates Refined list of prioritized award candidates 6 Conduct global industry review Build consensus on award candidates eligibility Hold global team meeting to review all candidates Pressure-test fit with criteria Confirm inclusion of all eligible candidates Final list of eligible award candidates, representing success stories worldwide 7 Perform quality check Develop official award consideration materials Perform final performance benchmarking activities Write nominations Perform quality review High-quality, accurate, and creative presentation of nominees successes 8 Reconnect with panel of industry experts Finalize the selection of the best-practice award recipient Review analysis with panel Build consensus Select recipient Decision on which company performs best against all best-practice criteria 9 Communicate recognition Inform award recipient of award recognition Present award to the CEO Inspire the organization for continued success Celebrate the recipient s performance Announcement of award and plan for how recipient can use the award to enhance the brand 10 Take strategic action Upon licensing, company may share award news with stakeholders and customers Coordinate media outreach Design a marketing plan Assess award s role in future strategic planning Widespread awareness of recipient s award status among investors, media personnel, and employees Frost & Sullivan We Accelerate Growth

13 About Frost & Sullivan Frost & Sullivan, the Growth Partnership Company, enables clients to accelerate growth and achieve best-in-class positions in growth, innovation and leadership. The company's Growth Partnership Service provides the CEO and the CEO's Growth Team with disciplined research and best-practice models to drive the generation, evaluation and implementation of powerful growth strategies. Frost & Sullivan leverages 50 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from more than 40 offices on six continents. To join our Growth Partnership, please visit Frost & Sullivan We Accelerate Growth