March 23, 2012 / Guy Fardone Company valuations in cloud services aren’t just heating up, they’re already red-hot. Buzz around the cloud has been building for years, but a string of recent acquisitions, investments, and public valuations prove it’s more than just hype. Companies are snatching up players left and right in all areas of the cloud: hosting, applications, unified communications, and data center infrastructure.These aren’t just economic buys for revenue, scale, and expansion. Companies are acquiring talent, technology, knowledge, and product sets to navigate their way into the cloud posthaste.So if you’re just ramping up your cloud business (read: monthly recurring revenues), accelerate it. If you’re a VAR or other service provider selling legacy systems and services, augment or replace those services NOW and get into cloud services. Sitting on the sidelines to see how things play out is no longer a viable strategy.Now is the time to get into the cloud business. Change your business model and bank on the new paradigm. A fork in the road isn’t coming, it’s already here, and you’re standing right in front of it. You can steer one way and reap the business benefits of the cloud or take the road of legacy infrastructure and end up losing your customer base. Don’t let that happen.There are essentially two options for jumping into the cloud space and pulling ahead of the pack. You can either provide your own cloud services on your own platforms or through your own data center, or partner with a provider that can assist you. If you’re going to go it alone, good luck with that. That’s where we were six years ago, and let us tell you — it’s not easy. It takes a lot of capital, time, knowledge, and patience waiting out the time to market and opportunity costs.But whether you plan to do it yourself or partner with a provider, you better get started soon. It’s a crowded field already. The guys who run faster and harder now are the ones who will own this space tomorrow.Any company seeking a partner for its cloud services will need to closely examine any providers it’s considering. Since the space is so hot, some providers might not last long. Here are some questions to think about when considering a cloud services partner:
What kind of investment does the provider have in the technology? For example, how many data centers does it have? Has it invested in diverse, secure, and redundant networks and security? What kind of platform does it offer?
What kind of services does the provider offer in addition to the technology? Does it provide sales support, training, or other end-customer assistance? Is the offering strictly about a portal or the technology, or will the provider help you help your customers?
Does the provider offer a single service or can you use its platform for multiple services? (Keep in mind that customers that buy one cloud service generally buy many.)
How much experience does the provider have? What’s its track record owning and operating companies?
Who has already partnered with this provider? What kind of success have they had?
What do the provider’s financials look like? Is it on the brink of an exit or sale that could leave you dealing with another organization at a crucial time? Is the provider growing and profitable or at least marching towards it?
Cloud providers are typically a good bet when they are visible, have credible business partners, invest in recognized best-of-breed platforms and technologies, and offer a breadth and depth of products. Some added intellectual property helps differentiate them as well.Now let me make our pitch. We want to help you run down the right fork in the road. Evolve IP is actively seeking qualified partners to enter the cloud space. Here are two examples of companies that have joined up with us and reaped the benefits:
A mid-Atlantic company used to offer a legacy service, selling phone systems with lots of customer premise base equipment and servers. It understood that that was a think of the past, recognized the value of the cloud, and partnered with us. Now it’s generating new, long-term, highly profitable revenue through our cloud platform. As a result, it’s about to win a large deal that it couldn’t even respond to 60 days ago. As a partner, it’s benefiting from sales and training support just as much as the platform and technology.
A traditional master agent in New Jersey was selling basic telecom and data services. It could have continued down that path with service providers, but instead chose to come on board with us 18 months ago. Now it’s billing a couple million dollars a year and has become one of our largest partners. It utilized our training, webinars, events, and sales support. As a result, it has even outpaced some of our more technical partners. While very visible, publicly traded telecom companies are touting how traditional master agents are a thing of the past and want to look in other directions, we are empowering them and helping make them successful.
Both of these companies saw success because they recognized the value of jumping into the cloud when they did. Recognizing that they couldn’t build and scale their own cloud services, they found a partner in Evolve IP. We offered them a cloud platform and support, from sales and training to implementation and support.Transitioning your company to cloud services has never been more urgent, and a partner company can help you make the necessary changes. So if you’re still invested in legacy systems, it’s time to get your head in the cloud and your butt in gear.Categories: ChannelFeatured Posts
About Guy Fardone
As Evolve IP's Chief Operating Officer, I run the company's day-to-day management. I also serve on advisory boards for various startups, technology organizations, schools, non-profits, and county agencies. Before I joined Evolve IP, I was the Executive Vice President and General Manager of ATX Communications. I love to talk about technology, M&A, and corporate performance management, and I'm a self-professed data visualization geek. I'm a Villanova grad and currently live in Chester Springs with my wife and three children. In my spare time I'm an outdoor sports enthusiast, youth league football coach, and co-author of a cookbook with my father. I also own Chester Springs Winery, a soon-to-be-licensed Pennsylvania winery.
Compliance is a way to do business … not an afterthought when clients need it.
At Evolve IP we have a dedicated compliance and security practice and work with two of the world’s top 3rd-party compliance auditors, Grant Thornton and Ernst & Young, to enable customers to extend their compliance to our fully audited cloud. This focus allows us to deliver the documentation and assurances that other’s simply cannot including HIPAA / HITRUST, PCI-DSS (all 12 sections), SOC 2/3 and more. The Compliance CloudTM includes true client isolation, encryption in transit and at rest, private VLANs, firewalls and dozens of other security measures.
What Our Clients Say
“That’s the type of proposition I like to bring to a Board of Directors. When I can say, ‘we can get everything new, be completely redundant, it can meet all of our needs and oh, by the way, we are going to save over $300,000 a year.’ It makes it easy for me to sell!”
"The people that Evolve IP are more personable; you don't feel like there's necessarily a script when you're talking with them, they’re easy to understand, quick to get a hold of, and they follow through on what they say they're going to do."
“The system’s been bulletproof. Period. I don’t know how else to say it. I mean, the volume, the expansion, and the reliability. It’s been bulletproof …We don’t worry about our call center’s stability anymore. And for me, a CEO, my lifeblood is the call center generating our revenue and our customer service – it’s a great feeling.”
- Howard Pearl, Chief Executive Officer Charitable Adult Rides and Services
“The combination of rapid integration and cost savings has allowed us to acquire more practices in a faster and more profitable way. That is resulting in bottom-line cost savings and top-line business benefits.”
Our analyst-acclaimed solutions are built on a world-class, compliant architecture that leverages the blue-chip technologies organizations already know and trust.
We deploy best-of-breed solutions including: Disaster Recovery, Contact Center, Unified Communications, DaaS, IaaS. Our services are analyst-acclaimed, vendor-validated, client recommended and award-winning.
Evolve IP is proud to have achieved the honor of being HITRUST CSF certified! Certification to the HITRUST Common Security Framework (CSF) affirms that all of Evolve IP’s cloud computing and cloud communications services adhere to the strictest security standards for electronic protected health information (PHI). The HITRUST security standard was developed by and for the healthcare industry as a means of going above and beyond the compliance requirements of HIPAA.
The HITRUST Common Security Framework (CSF) was developed to address the multitude of security, privacy and regulatory challenges facing healthcare organizations. The HITRUST CSF was developed by healthcare and IT professionals to provide an efficient and prescriptive framework for managing the security requirements inherent in HIPAA. HITRUST CSF rationalizes healthcare-relevant regulations and standards into a single overarching security framework. An important part of the “What is HITRUST” answer is understanding that the CSF is risk-based and compliance-based so that organizations can tailor the security control baselines and vendor management programs that they follow based on their specific organization type, size, systems, and regulatory requirements.
The Privacy regulations of the U.S. Health Insurance Portability and Accountability Act (HIPAA) require health care providers, organizations, and their business associates, develop and follow procedures that ensure the confidentiality and security of protected health information (PHI) when it is transferred, received, handled, or shared. This applies to all forms of PHI — paper, oral, and electronic, etc. Those who fail to adhere to HIPAA can suffer from huge fines climbing into the millions of dollars for major violations.
The Compliance Cloud™ fully enables covered entities and their business associates subject to HIPAA regulations to leverage a secure environment to process, maintain, and store protected health Information (PHI) featuring among other controls.
SSAW 16 Service Organization Control II (SOC 2)
Evolve IP has received an SSAE 16 SOC 2 Type II report on our internal controls relating to how we assess and address the potential risks associated with the security, availability, and confidentiality of not only the cloud-based services that we provide, but also our physical and logical infrastructure. Evolve IP utilizes the Certified Public Accounting firm of Grant Thornton to perform its annual audit and attestation in accordance with the Statements on Standards for Attestation Engagements No. 16 and the associated Trust Services Principles, as published by the AICPA, to evaluate the effectiveness of Evolve IP’s service organizations controls.
While Forbes regularly features coverage and recognition about Evolve IP, they've most recently recognized Evolve IP as being the "Best Cloud Computing Companies And CEOs To Work For In 2017". They've ranked Evolve IP in the Top 3 just behind Google and Microsoft in the Cloud Infrastructure classification. (Feb 2017). Forbes also recently recognizes Evolve IP for bringing Singer Equipment Corporation, a mainstream business based in PA, into the cloud by means of unified communication. (Sept 2017). Last year, Forbes recognized Evolve IP's survey of 1,080 executives citing that the number one reason to go to the cloud is the same reason that it is avoided. (Mar 2016).
Unified Communications Product of the Year
TMC and Internet Telephony Magazine have named Evolve IP’s unified communications platform as a 2017 Unified Communications Product of the Year Award winner. This marks the 6th time Evolve IP has been honored with this prestigious award and follows a series of product innovations that have allowed the company to rapidly expand its international coverage.
Evolve IP’s business collaboration tools and IP phone system dramatically improve employee productivity in the office and on the road with a Unified Communications as a Service (UCaaS) platform that fully integrates voice, video, instant messaging & presence (IM&P), desktop sharing, audio/web conferencing and more. The company also provides a sophisticated Web-based management portal, OSSmosis®, that allows administrators to easily configure system functions and quickly modify users without the need to reach out to a third party for changes.
Inc. magazine has recognized Evolve IP in the 34th annual Inc. 500|5000, an exclusive listing of the nation's fastest-growing private companies. The list will be unveiled in the September issue of Inc.
The story of this year's Inc. 5000 is the story of great leadership. In an incredibly competitive business landscape, it takes something extraordinary to take your company to the top," says Inc. President and Editor-In-Chief Eric Schurenberg. "You have to remember that the average company on the Inc. 5000 grew nearly six-fold since 2012. Business owners don't achieve that kind of success by accident.
Payment Card Industry Data Security Standard (PCI DSS)
Evolve IP has achieved Payment Card Industry (PCI) Data Security Standard (DSS) compliance covering all 12 sections of the PCI DSS. The PCI data security standard is a comprehensive set of standards that require merchants and service providers that store, process, or transmit customer payment card data to adhere to strict information security controls and processes. It was created by the founding brands of the PCI Security Standards Council, which includes American Express, Discover Financial, JCB International, MasterCard Worldwide, and Visa Inc.
Evolve IP is also a registered and participating member of the CSA Security, Trust & Assurance Registry (STAR). The CSA was formed to encourage transparency of security practices within cloud providers. It is a free, publicly accessible registry that documents the security controls provided by various cloud computing offerings, thereby helping users assess the security of cloud providers they currently use or are considering contracting with. CSA STAR is open to all cloud providers, and allows them to submit assessment reports that document compliance to CSA published best practices. The searchable registry will allow potential cloud customers to review the security practices of providers, accelerating their due diligence and leading to higher quality procurement experiences. CSA STAR represents a major leap forward in industry transparency, encouraging providers to make security capabilities a market differentiator.
Deloitte’s Technology Fast 500TM
Evolve IP has been ranked for the second consecutive year on Deloitte’s Technology Fast 500™, a ranking of the 500 fastest growing technology, media, telecommunications, life sciences and energy tech companies in North America – both public and private. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2012 to 2015. The list is a veritable Who’s Who of technology that has included tech companies like Google, VMware and Facebook.
Technology Fast 500 provides a ranking of the fastest growing technology, life sciences, and energy the companies – both public and private – in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth during the period from 2012 – 2016.
Red Herring has named Evolve IP as one of the Top 100 Companies in North America. Red Herring’s Top 100 recognizes the leading and most promising private companies from around the world. Among the over 20 criteria used to analyze companies for the award, Evolve IP was noted for its financial performance, technological innovation, customer footprint, the DNA of its founders and addressable market.
Red Herring selects the award winners for North America from approximately 1,200 privately financed companies each year in the US and Canada. Since 1996, Red Herring has kept tabs on these organizations and its editors were among the first to recognize that companies such as Facebook, Twitter, Google, Yahoo, Skype, Salesforce.com, YouTube, Palo Alto Networks and eBay would change the way we live and work.
Evolve IP has been recognized as one of the “Best Entrepreneurial Companies in America” in Entrepreneur magazine’s Entrepreneur360™ Performance Index, a study involving a comprehensive analysis of private companies in America. Based on this study forged by Entrepreneur, Evolve IP is recognized as a company that exemplifies growth, not just in top and bottom line, but in sustainability and the ability to achieve lasting success.
According to Entrepreneur, after evaluating approximately 10,000 U.S. based firms, the team of editors and researchers behind the E360 Performance Index collected more than 250 pieces of data from the finalists, focusing on growth drivers and challenges, goal setting, resource allocations, and reward systems. The analysis uncovered a class of leading companies, including Evolve IP, whose continued success is largely based on superior value creation for their customers, building an adaptive learning culture, and aggressive geographic expansion—placing them amongst the most dynamic firms in America today.
Evolve Cares Program Extended to Analyst-Acclaimed Remote Working Solutions WAYNE, Pa. — March 12, 2020 — Evolve IP®, the world's leading provider of Purpose-Built® cloud solutions, today announced that it is offering…