RingCentral CEO Forecasts Hybrid Work Lasting for ‘Foreseeable Future’

With COVID-19 vaccines being distributed, many businesses are beginning to prepare for a “hybrid work environment,” with some workers based in the physical office and others working from home for “the foreseeable future,” said RingCentral CEO Vlad Shmunis on a Q4 call Tuesday. As companies adapt to this new “work from anywhere norm,” digital transformation of business communications will become more critical, with “cloud-based communications solutions” enabling that, he said. “We are increasingly confident in the size of the opportunity.” The company’s annualized recurring revenue in 2020 grew 35% year over year to $1.3 billion, he said.