Why Lumen Applied sciences Inventory Was a Winner on Wednesday

What occurred

Veteran telecom inventory Lumen Applied sciences (LUMN 0.74%) weathered the inventory market’s downbeat Wednesday, inching up increased whereas many different titles sank. The corporate’s share worth rose by almost 1%, on a day when the bellwether S&P 500 index landed marginally within the crimson. The growth of an current partnership — and a ensuing new product providing — was the supply of investor optimism.

So what

On Wednesday morning, Lumen introduced the rollout of its Lumen Options for Contact Middle-Genesys Cloud. Because the identify implies, this can be a new contact-center-as-a-service (CCaaS) providing from the corporate that addresses that specific enterprise want. Lumen has developed and is providing the service together with its companion, name middle expertise specialist Genesys.

The telecom did not hesitate to level out that Options for Contact Middle consists of quite a few cutting-edge applied sciences, comparable to speech-enabled interactive voice response and automated name distribution. It additionally gives for the recording and storing of all interactions by way of its system.

The corporate touted the affordable worth of the brand new providing, though it did not specify precisely how a lot it could value. It quoted its Senior Director of UC&C (unified communications and collaboration) Product Administration Craig Richter as saying, “Legacy platforms are capital intensive, whereas newer cloud-based or hybrid options are way more versatile and value efficient.”

Now what

Prospects actually count on efficient and useful interactions with the businesses they need or have to contact, so Lumen’s new product ought to get some take-up from companies wanting to remain present with such options. Understandably, buyers can be at the very least cautiously optimistic in regards to the firm’s new product.

Eric Volkman has no place in any of the shares talked about. The Motley Idiot has no place in any of the shares talked about. The Motley Idiot has a disclosure coverage.

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