CIO Review >> Magazine >> March - 2013 issue

BYOD: Empowered by the Cloud

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Thursday, March 7, 2013

Mike Burkland Founded in 2001, Five9 is a pure cloud-based contact center software provider. The California headquartered company has received a total funding of $49.6 million from Mosaic Venture Partners, Hummer Winblad Venture Partners, Partech International and Adams Street Partners.

The software industry is at an inflection point; aging, premised-based solutions are being replaced with cloud solutions. This shift to the cloud is allowing businesses to move beyond outdated technology paradigms to new, more flexible and cost effective models. Cloud based solutions are helping businesses achieve tangible results while also controlling costs with a "Pay As You Go" model. Today, many cloud solutions are as sophisticated and innovative as traditional software, but at a cost of ownership that is far lower than premise-based solutions. Cloud software providers can deliver robust, enterprise applications as a service that is affordable, scalable and reliable.

In the near future mobile devices will outnumber PCs; this is a radical change in the market, which cloud enables. This consumer trend and proliferation of mobile devices is rapidly moving into the enterprise. Many organizations today have or are considering "Bring Your Own Device" strategies for the workforce. This is forcing IT organizations to re-think infrastructure management, data storage and security. In the future, the old model of knowledge workers using laptops and PCs in a corporate office park will change to tablets being used from coffee shops and home offices. This move toward mobility, enabled by the cloud, will lead to a far more distributed workforce than ever before.

Dodging the Darts

Entrepreneurs rarely have a shortage of product and business ideas, however critical challenges do exist. Entrepreneurs must first find a large market opportunity, and then create a product that addresses the market need and has strong competitive differentiators and barriers to entry. The next step in value creation is building a repeatable and scalable business model with a strong leadership team capable of executing on the vision. Five9 has been fortunate in the ability to meet these challenges head on to become the breakaway market leader in cloud contact center software.