NEWS
Avaya reduces debt by over 75%
Avaya has successfully completed a major financial restructuring, reducing its total debt by more than 75%. The company’s prepackaged plan of reorganisation, which includes “slashing some $2.6 billion of debt,” was confirmed by the U.S. Bankruptcy Court for the Southern District of Texas. This is a significant milestone for the company, which has been in a precarious financial position for some time. The approval of Avaya’s restructuring plan means that the company can move forward with its plans to emerge from bankruptcy and become a private company. The plan has the backing of a majority of the company’s financial stakeholders, including investment firms Apollo Global Management and Brigade Capital Management, who have each invested significant incremental capital as part of the process. Avaya’s CEO, Alan Masarek, has said that the restructuring will provide the financial flexibility needed to accelerate investment in the company’s cloud-based communications portfolio, including its customer experience offerings. He added that he is pleased with the progress made during the restructuring process and grateful for the support
of customers, partners, team members, and investors. Despite the financial difficulties that led to its bankruptcy filing in February, Avaya has continued to serve its customers and partners without interruption. The company has a competitive industry position and a strong partner ecosystem, and its long-range product roadmaps are expected to bring significant value to the market. Overall, the completion of this financial restructuring is a positive development for Avaya, its customers, and its partners. With its debt significantly reduced and a renewed focus on cloud-based communications, the company is well-positioned to deliver exceptional experiences to its customers and partners and remain a leading provider in the industry.
Alan Masarek CEO
avaya.com
RingCentral see (Ring)Sense
RingCentral has announced the launch of RingSense, a new AI platform that brings conversation intelligence to business communications and collaboration. RingSense leverages generative AI to enable organisations to turn their conversation data into valuable insights, unlocking productivity and driving business outcomes. The platform uses AI models to deliver conversational speech analysis, emotional sentiment recognition, and it enables users to catch up on missed meetings or take automated notes. RingSense for Sales, the first offering in the RingSense AI portfolio, is designed to help salespeople and sales managers surface key insights and performance measures, increasing their sales efficiency. It provides sales leaders with insights to help them
better train, mentor, and drive their teams to greater levels of success. Key capabilities of RingSense for Sales include automated follow-ups, AI-generated summary scoring, integrations with 3rd party apps, and the ability to track keywords and phrases. RingCentral has also introduced AI APIs that give developers and customers access to their own data from RingCentral, enabling them to extract transcriptions, summarisations, sentiment analysis, and interaction analysis for voice, video, and chat. This will allow users to leverage their data to gain deeper insights into all of their customer interactions, regardless of platform. The platform is built with an open approach to AI, which enables developers and customers to build public or private applications or integrations using RingCentral APIs.
ringcentral.com
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