Avaya — UBS Global Communications Conference 2003
74 slides from Avaya's conference presentation, Nov 17, 2003
Slide 1: UBS Global Communications Conference
UBS Global Communications Conference Garry K. McGuire CFO and SVP Corporate Development November 17, 2003 Copyright© 2002 Avaya Inc. All rights reserved
Slide 2: Forward Looking Statement
Forward Looking Statement The use of words, such as “may”, “might”, “will”, “should”, “expects”, “plans”, “anticipates”, “believes”, “estimates”, “intends”, “future”, “potential” or “continue”, the negative of these terms and other comparable terminology are intended to identify forward- looking sta
Slide 3: Accomplishments in the Past Year
Accomplishments in the Past Year • Stabilized revenue • Financial execution • Gained market share and mind share • Momentum in IP telephony • Significant sales wins • New and deepened partnerships • New IP telephony and services offerings • Strategic M&A transactions Avaya is WELL POSITIONED today 3
Slide 4: Gained Market Share
Gained Market Share Global Leadership TELEPHONY Position Share Position Share Position Share Position Share Position Share WW Enterprise Telephony (revenue) [1] #5 7% #2 14% #7 3% #3 11% #1 18% WW IP Telephony (lines) [2] #5 8% #1 20% #2 19% #3 17% #4 8% US Enterprise Telephony (lines) [3] #14 1% #1
Slide 5: Gained Market Share: Momentum in IP Telephony
Gained Market Share Momentum in IP Telephony Worldwide IP Telephony Market Share – Q2 CY03 50% Avaya 40% Cisco Nortel Market Share Alcatel 30% Siemens 20% 10% 0% 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q CY00 CY01 CY02 CY03 Time Period Source: Synergy Research Group 5
Slide 6: Gained Mind Share
Gained Mind Share Challengers Leaders Cisco Systems Avaya The Siemens Gartner Magic NEC Nortel Networks Quadrant Ability to Execute Inter-Tel Mitel Networks North American 3Com Alcatel Enterprise Telephony, Shoreline Communications Vertical Networks September 2003 Niche Players Visionaries Completen
Slide 7: Strategic Differentiation
Strategic Differentiation • Clear focus on the enterprise • Voice experience and expertise • Significant installed customer base • Comprehensive suite of industry-leading applications • Global services organization 7
Slide 8: Market Opportunity
Market Opportunity Avaya’s Global Addressable Market $136B 140 CAGR ’03-’07 = 10.7% $123B $112B 120 $100B $90B 100 Billions of 80 end-user $US 60 40 20 0 CY03 CY04 CY05 CY06 CY07 ($B) Segments Total CY03 Total CY07 CAGR CY03-07 ECG 21.7 38.4 15% SMBS 8.1 12.6 12% Services 60.5 84.6 9% Data sources i
Slide 9: IP Telephony Strategy: Capturing the Opportunity
IP Telephony Strategy Capturing the Opportunity • Avaya installed base – Compelling evolutionary choices and ROI – Leverage established brands • Greenfield opportunities – Lead with rich applications offering, established brands, and professional services capabilities – Leverage channel and partner
Slide 10: IP Telephony Strategy: Pursuing the Global Installed Base
IP Telephony Strategy Pursuing the Global Installed Base • Average age of the installed base = ~ 9 yrs • Typical lifespan of a PBX = ~ 7 to 10 yrs • Global installed lines = ~ 400M • Global installed IP lines = ~ 7M 400M North Migrate America Global 300M installed Leverage 7M of IP TDM base services
Slide 11: Telephony Line Shipments Growth
IP Telephony Strategy • U.S. IP adoption first Migrating Installed TDM Base • 10-plus year migration • Voice complexity = High • Incumbent advantage U.S. IP Telephony Line Shipments Growth WW IP U.S. IP U.S. Traditional WW Traditional WW IP 2002 Indexed To 100% WW Traditional U.S. Traditional 2002 2
Slide 12: IP Telephony Portfolio
IP Telephony Portfolio Avaya MultiVantage Communications Applications Telephony, Contact Center, Messaging, Unified Communication Offering Customers Path, Pace, and Choice Mobile worker Home office Branch office Unified Communication IP Office, IP Softphone, Small office IP Office, Survivable media
Slide 13: Services Strategy
Services Strategy Reinvent, Grow, Enable • Reinvent maintenance – IP telephony transition opportunities – Direct sales focus on contract renewals – Focus on customer value and ROI Accelerate Reinvent Growth • Accelerate growth initiatives Maintenance Delighted Initiatives – Professional services Cus
Slide 14: FY03 Key Transactions
FY03 Key Transactions 1/29/03: Completed LYONs exchange offer 4/30/03: Amended bank credit facility for financial flexibility 5/6/03: Issued $200M of senior secured notes 9/8/03: Sold 34.5M common shares 10/2/03: Purchased assets from Vista Throughout FY03: Retired 10/27/03: Announced $395M in face
Slide 15: Quarterly Run Rate
Quarterly Run Rate Expanets Deal 4Q 03 Announced Incremental Incremental 4Q 03 Pension / Pro Savings Savings Core Maintenance Margin on Quarterly ($M) Actuals Other Forma Connectivity Initiatives Initiatives Avaya Left Behind Sales Run Rate Revenue 1,118 1,118 (147) 971 10 981 Total Cost 654 5 658 (
Slide 16: Income Statement Goals
Income Statement Goals Targeted Metrics In Q4 FY04 In 2H FY05 Gross Margin 43% to 45% 45% to 47% SG&A 27% to 29% 25% to 27% R&D 8% to 10% 8% to 10% Operating Margin 6% to 7% 10% to 12% Achieving the Goal • PSO shift $78M • Revenue growth • Allocation refinement across cost and • Operating leverage o
Slide 17: Balance Sheet Goals
Balance Sheet Goals • Improve credit rating – ultimate goal is investment grade • Opportunistically de-lever the balance sheet • Maintain net cash position • FY04 core working capital goals – Inventory turnover goal from 8.5x at Q4 FY03 to 9x – Days sales outstanding goal from 60 days at Q4 FY03 to
Slide 18: Summary
Summary The Future • Focused on profitable market share gains The Present • Leverage competitive advantages • Global leadership The Past • Well positioned for • Strategic vision the imminent wave of • Gained market share • Operating leverage technology transition • Gained mind share • Energized • Re
Slide 19: UBS Global Communications Conference
UBS Global Communications Conference Garry K. McGuire CFO and SVP Corporate Development November 17, 2003 Copyright© 2002 Avaya Inc. All rights reserved
Slide 20: Appendix
Appendix
Slide 21: Financial Details
Financial Details
Slide 22: FY03 Goals and Results
FY03 Goals and Results GOALS RESULTS Maintain and strengthen Net cash position of financial position $239M at end of FY03 Breakeven model by Q3 Generated net income FY03 in Q3 & Q4 FY03 Growth in IP telephony Stabilize and grow offset decline in TDM revenue revenue; Services revenue stabilized 22
Slide 23: FY03 Results: Cash
FY03 Results: Cash Strengthened Financial Position 1,200 Cash 1,000 800 ($M) 600 1,192 400 843 651 724 597 200 0 9/30/02 12/31/02 3/31/03 6/30/03 9/30/03 300 200 Net Cash* 100 239 0 ($M) -100 -162 -150 -336 -283 -200 * Net cash is defined as cash and cash equivalents less total debt. At 9/30/03 this
Slide 24: FY03 Results: Earnings
FY03 Results: Earnings Improved Profitability Net Income (Loss) 100 Q1 FY03 Q2 FY03 Q3 FY03 Q4 FY03 50 66 - 8 ($M) (41) (50) (121) (100) (150) 0.20 EPS (Diluted) 0.10 0.15 - 0.02 (0.11) ($) (0.10) (0.33) (0.20) (0.30) (0.40) Q1 FY03 Q2 FY03 Q3 FY03 Q4 FY03 24
Slide 25: FY03 Results: Growth
FY03 Results: Growth 1,600 Revenue 1,400 1,200 1,000 ($M) 800 1,306 1,279 1,219 600 1,152 1,118 1,067 1,081 1,072 400 200 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 FY02 FY02 FY02 FY02 FY03 FY03 FY03 FY03 25
Slide 26: Core Avaya
Core Avaya 1,200 Revenue ($M) 1,000 800 600 400 200 0 Q1 FY02 Q2 FY02 Q3 FY02 Q4 FY02 Q1 FY03 Q2 FY03 Q3 FY03 Q4 FY03 Revenue 1,170 1,136 1,055 1,023 946 950 929 971 100 Operating Income (Loss) ($M) 50 0 8.4% -50 0.9% 2.6% 1.5% -2.3% -1.1% -100 -6.7% -18.2% -150 As reported -200 Q1 FY02 Q2 FY02 Q3 F
Slide 27: Revenue: Geographic Mix (%)
Revenue: Geographic Mix (%) Q4 FY02 Total Avaya Q4 FY03 International International 24.7% 26.1% U.S. U.S. 75.3% 73.9% Q4 FY02 Core Avaya Q4 FY03 International International 22.7% 23.0% U.S. U.S. 77.3% 77.0% 27
Slide 28: Working Capital Management: Inventory Turnover
Working Capital Management Inventory Turnover 10 8.5 7.8 8 7.2 7.1 7.3 6.2 Average Turns 5.7 5.7 6 6.4 6.4 6.1 6.0 6.1 5.6 5.3 5.0 4 2 Total Avaya Core Avaya 0 Q1 FY02 Q2 FY02 Q3 FY02 Q4 FY02 Q1 FY03 Q2 FY03 Q3 FY03 Q4 FY03 28
Slide 29: Working Capital Management: Days Sales Outstanding
Working Capital Management Days Sales Outstanding* 100 92 91 89 90 88 80 85 Average DSO 82 73 69 70 65 64 69 60 60 63 61 59 57 50 Total Avaya Core Avaya 40 Q1 FY02 Q2 FY02 Q3 FY02 Q4 FY02 Q1 FY03 Q2 FY03 Q3 FY03 Q4 FY03 *Q1 FY02 and Q2 FY02 accounts receivable have been normalized to exclude the imp
Slide 30: Cash Flow
Cash Flow Seven consecutive quarters of From Operations positive cash flow from operations 250 200 150 100 201 50 86 85 14 * * ($M) 58 50 39 48 50 0 -50 (79) (92) -100 (198) -150 -200 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 FY01 FY01 FY01 FY01 FY02 FY02 FY02 FY02 FY03 FY03 FY03 FY03 180 160 138 161 Busi
Slide 31: Capital Structure and Liquidity
Capital Structure and Liquidity ($M) 9/30/01 9/30/02 9/30/03 Commercial paper $432 $- $- Credit facilities 200 - - LYONs convertible bond - 476 287 Senior secured notes - 457 666 Other 13 - - TOTAL DEBT 645 933 953 SERIES B PREFERRED 395 - - TOTAL SHAREHOLDERS EQUITY 481 - 200 TOTAL CAPITALIZATION $
Slide 32: Operating Leverage
Operating Leverage Fixed Cost Reduction (Core Avaya) 1,500 39% R educ 1,000 tion* ($M) 500 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 FY01 FY01 FY01 FY01 FY02 FY02 FY02 FY02 FY03 FY03 FY03 FY03 Fixed costs are defined as fixed portion of COGS plus SG&A expenses and R&D expenses * Reduction is from Q1 FY0
Slide 33: Recent Transactions: Connectivity
Recent Transactions Connectivity • Sale of Connectivity – Non-strategic segment – limited synergy with core business – Increases focus on core business segments – Improves working capital and cost structure flexibility 33
Slide 34: Recent Transactions: Connectivity Sale Terms
Recent Transactions Connectivity • Sale represents 0.6x revenue, based on total deal consideration of $338M • $263M sale price – $210M cash – $18M convertible note – $35M of CommScope common stock (CTV), subject to a collar • Buyer assumes $75M of certain liabilities • Expect to report a tax and boo
Slide 35: Recent Transactions: Expanets
Recent Transactions Expanets • An opportunistic and defensive acquisition – Gain control of important channel and revenue base – Strengthen multi-vendor services presence – Continuity and direct focus for customers • Business generated $600M in revenue per annum – Significant distributor for Avaya –
Slide 36: Recent Transactions: Expanets Purchase Price
Recent Transactions Expanets • Purchase price of $152M – Purchased at auction with 3 financial buyers – Subject to working capital adjustment (~ $20M to $30M) – Expected cash outlay – no more than $120M • Closing and restructuring charge expected in Q1 FY04 36
Slide 37: Key Performance Drivers: Revenue vs. Employment
Key Performance Drivers ECG & SMBS Revenue vs. U.S. Non-Farm Employment U.S. Non-Farm ECG & SMBS Employment Revenue ($M) 133,000 1,000 132,500 900 132,000 800 700 131,500 600 131,000 500 130,500 400 130,000 300 129,500 U.S. Non-Farm Employment 200 ECG & SMBS Revenue 129,000 100 128,500 0 Q1 Q2 Q3 Q4
Slide 38: Key Performance Drivers: Pricing Environment
Key Performance Drivers Pricing Environment • Environment – Pricing pressure continues to be a factor in key markets – High levels of promotional activity from vendors – Year-end sales push • Management actions – Increased focus on the value proposition • Value-based sales approach • ROI tools – Inc
Slide 39: Key Performance Drivers: Business Transformation
Key Performance Drivers Business Transformation • Standardize/simplify systems and processes • Significantly improve interaction with customers – Simplify quoting and ordering processes – Migrate to customer-centric sales methodology – Implement self-service tools • Be a better, more predictable par
Slide 40: Key Performance Drivers: Real Estate Expense Reduction
Key Performance Drivers Real Estate Expense Reduction Opportunity • Core Avaya 7M square feet – ~ 40% is vacant space • With economy improving, increase in sub-leasing potential • Potential opportunity to reduce costs related to vacant space (Current cost = ~ $39M per annum). 40
Slide 41: Corporate Development
Corporate Development An Opportunistic Approach • Build out core business: – Enhance distribution in existing markets – Capture global services and channel opportunities – Extend presence in key growth markets • Support growth through targeted acquisitions • Goal of minimal dilution in first year; n
Slide 42: Cash Flow: Potential Uses of Cash in FY04
Cash Flow Potential Uses of Cash in FY04 (Core Avaya) Q1 Q2 Q3 Q4 Total ($M) FY04 FY04 FY04 FY04 FY04 BRR $9 $7 $6 $8 $30 Interest payments 36 - 36 - 72 Capital expenditures 23 28 32 17 100 Total $68 $35 $74 $25 $202 Excludes cash impact of the Expanets purchase 42
Slide 43: Cash Flow: Pension Plan Projected Cash Contribution
Cash Flow Pension Plan Projected Cash Contribution Fiscal Year Ended September 30, Investment Return 2004 2005 2006 11.0% $0 $0 $101M 9.0% $0 $0 $104M 7.5% $0 $0 $107M 5.0% $0 $0 $110M Note: Based on assets as of September 30, 2003 and assumes 0% return to December 2003. Investment return above assu
Slide 44: Tax Considerations
Tax Considerations Core Avaya – FY04 • Expect no federal income tax payments due to net operating loss carryforwards • Expect to pay income taxes in certain foreign and state jurisdictions • Estimated tax provision of $6M to $8M per quarter 44
Slide 45: Investment Thesis
Investment Thesis Strategic Leverageable Differentiation Business Avaya Model Cash Earnings Shareholder Value Growth Technology Transition 45
Slide 46: Enterprise Communications Group (ECG)
Enterprise Communications Group (ECG) Segment Overview
Slide 47: ECG Segment Results
ECG Segment Results 600 Revenue ($M) 500 400 300 200 100 0 Q1 FY02 Q2 FY02 Q3 FY02 Q4 FY02 Q1 FY03 Q2 FY03 Q3 FY03 Q4 FY03 Revenue 563 547 492 478 428 437 416 457 10 Operating Income (Loss) ($M) 0 -10 -20 -30 -40 0.2% -3.7% -3.1% -50 -5.9% -7.9% -9.8% -9.6% -14.9% -60 -70 As reported -80 Q1 FY02 Q2
Slide 48: ECG Addressable Market
ECG Addressable Market $38B 40 CAGR ’03-’07 = 15% $34B $30B $25B $22B Billions of end-user 20 $US 0 CY03 CY04 CY05 CY06 CY07 ($B) Segments Total CY03 Total CY07 CAGR CY03-07 Enterprise Applications 9.4 17.6 17% Contact Centers 7.9 11.8 11% Unified Communication 1.5 5.8 40% Enterprise Telephony 8.4 1
Slide 49: Enterprise Communications Group: FY03 Highlights
Enterprise Communications Group FY03 Highlights • Market share gains • Significant sales wins – Merrill Lynch – 7,600 IP/TDM endpoints – Grupo Santander – 12K IP endpoints – University of South Florida – 16K IP/TDM end points • Significant product announcements – Strategic alliance with Extreme Netw
Slide 50: Enterprise Communications Group: FY04 Focus Areas
Enterprise Communications Group FY04 Focus Areas • Increase emphasis on software business model • Target verticals • Enhance distribution channels • Build on international presence • Launch new product offers • Grow base of partners 50
Slide 51: IP Telephony Strategy: Services Capabilities and Voice Applications Leadership
IP Telephony Strategy Leveraging Services Capabilities & Global Voice Applications Leadership North America Call Center Western Europe Call Center Asia Pacific Call Center 47% 50% 50% 50% 40% 35% 40% 33% 40% 30% 24% 30% 30% 17% 20% 20% 20% 13% 12% 12% 7% 7% 7% 7% 6% 10% 5% 10% 10% 5% 0% 0% 0% Avaya
Slide 52: Small & Medium Business Solutions (SMBS)
Small & Medium Business Solutions (SMBS) Segment Overview
Slide 53: SMBS Segment Results
SMBS Segment Results 65 Revenue ($M) 60 55 50 45 40 Q1 FY02 Q2 FY02 Q3 FY02 Q4 FY02 Q1 FY03 Q2 FY03 Q3 FY03 Q4 FY03 Revenue 59 59 58 60 56 55 55 59 4 Operating Income (Loss) ($M) 2 0 -2 5.1% -4 0.0% -1.8% -1.8% -8.3% -7.3% -6 -15.3% -17.2% -8 As reported -10 Q1 FY02 Q2 FY02 Q3 FY02 Q4 FY02 Q1 FY03 Q
Slide 54: SMBS Addressable Market
SMBS Addressable Market 15 CAGR ’03-’07 = 11.6% $13B $11B $10B $9B $8B 10 Billions of end-user $US 5 0 CY03 CY04 CY05 CY06 CY07 ($B) Segments Total CY03 Total CY07 CAGR CY03-07 SMBS Applications 1.4 3.1 22% SMBS Contact Centers 1.0 1.6 12% SMBS Messaging 0.4 1.3 38% SMBS Unified Communications 0.0 0
Slide 55: Small & Medium Business Solutions: FY03 Highlights
Small & Medium Business Solutions FY03 Highlights • Market share gains • Shipped 21K IP Office systems and 1 millionth Partner system • Strategic alliances with HP and Microsoft • Significant sales wins – Jenny Craig – IP Office at 450 centers across the U.S. and Canada – McConechy Tire – IP Office
Slide 56: Small & Medium Business Solutions: FY04 Focus Areas
Small & Medium Business Solutions FY04 Focus Areas • Target geographic and vertical markets • Target SMB and branch offices • Leverage alliance, SP, and ISV relationships to enhance competitive differentiation • Offer customers bundled solutions and lower TCO • Continue to invest in technologies and
Slide 57: Global Services
Global Services Segment Overview
Slide 58: Services Segment Results
Services Segment Results 600 Revenue ($M) 500 400 300 200 100 0 Q1 FY02 Q2 FY02 Q3 FY02 Q4 FY02 Q1 FY03 Q2 FY03 Q3 FY03 Q4 FY03 Revenue 548 530 505 485 462 458 458 455 80 Operating Income ($M) 70 60 14.2% 15.9% 12.1% 9.4% 7.6% 8.7% 8.6% 50 10.3% 40 30 20 10 As reported 0 Q1 FY02 Q2 FY02 Q3 FY02 Q4 F
Slide 59: Services Addressable Market
Services Addressable Market 100 CAGR ’03-’07 = 8.8% $85B $78B $72B $66B 75 $61B Billions of end-user 50 $US 25 0 CY03 CY04 CY05 CY06 CY07 ($B) Segments Total CY03 Total CY07 CAGR CY03-07 Data 21.5 27.9 7% Installation 7.9 13.3 14% Maintenance Management 12.8 14.4 3% Professional Services 4.8 10.5 21
Slide 60: Global Services: FY03 Highlights
Global Services FY03 Highlights • Reached collective bargaining agreement with unions • Strategic alliance with IBM • Acquisition of Vista assets • Significant sales wins – Sheppard Air Force Base – Installation and 4-year service and support – 5-year contract renewal with U. S. General Services Adm
Slide 61: Global Services: FY04 Focus Areas
Global Services FY04 Focus Areas • Parallel focus on renewal and incremental business • Continue to evolve and renew maintenance contracts • Accelerate professional services and outsourcing offers • Expand remote diagnostics and service capabilities • Focus resources on top 10 international countrie
Slide 62: Services Strategy: Educating Customers on Value of Maintenance
Services Strategy Educating Customers on Value of Maintenance A Leading Pharmaceutical Company Incremental downtime costs Total Savings $8.9M – Service Agreement Cost $1.4M attributed to 204 remote resolutions without EXPERT Systems remote capabilities $8M Incremental downtime $6.3M costs attributed
Slide 63: Other Details
Other Details
Slide 64: Market Opportunity: Driven by Shifting Paradigms
Market Opportunity Driven by Shifting Paradigms • Customer demands – Converged network reduces costs – Communications applications enhance productivity and drive revenue • Technological transition – Migration to IP telephony • Marketplace imperatives – The need to create growth opportunities 64
Slide 65: Market Opportunity: Opportunities Created by IP Adoption
Market Opportunity Opportunities Created by IP Adoption • Adoption of new technologies creates demand for services from an experienced vendor • Adoption of IP platforms based on open standards – Unlocks the value of previously bundled offerings – Drives value to the software layer Hardware- Centric
Slide 66: The Avaya Portfolio: Full Life-Cycle Services
The Avaya Portfolio Full Life-Cycle Services Multi-channel Multi-Channel Go-To-Market services and solutions delivery Targeted Solutions Professional Maintenance & Strategic Services Implementation Outsourcing Global, multi- • IP Migration • Managed Maintenance • Security Services vendor solution Se
Slide 67: The Avaya Portfolio: Focus Areas for Future Product Launches
The Avaya Portfolio Focus Areas for Future Product Launches Helping customers transition Managed Services Increasing productivity and lowering costs with endpoint choices Maintenance Services Implementation & Integration Services Network & Applications Consulting Services Convergence Services Unifie
Slide 68: Avaya Labs
Avaya Labs Delivering the Vision Access Converged • Natural language Communications • Secure wireless multimedia content delivery • Wi-Fi conferencing and telephony • Rich multimodal user experience • Dynamic Applications applications • Orchestrate communications services • Comm-enabled • Presence &
Slide 69: Channel Strategy
Channel Strategy Areas of Focus • Strengthen sales channels in key customer segments • More revenue through fewer business partners • Selectively recruit new business partners • Business partner development and growth • Build relationships with service providers, system integrators, and independent
Slide 70: Channel Strategy: Go-to-Market Model
Channel Strategy Go-to-Market Model Direct Indirect Sales Sales on ati Premier Dedicated Business uc Partners Ed AVantage Account Teams and ca ctor nd (Global Enterprises) System Sales Support la e, lic Se Integrator Financial Svcs & Insurance Lo , S Pub Premier Communications Dedicated client execs
Slide 71: DeveloperConnection Program
DeveloperConnection Program The DeveloperConnection Program (DevConnect) brings solution innovators and industry leaders together to work toward a common goal - to blend their complementary products, services, and technologies and create a new generation of innovative communications solutions. Benef
Slide 72: DeveloperConnection Program Highlights
• Focus on solutions for industry verticals • 150% increase in developer solutions in 2003 • 175 members and growing to 250 by end-of-year 2004 • Increased confidence in vendors through testing 72
Slide 73: Strategic Alliance: Avaya and Extreme
Strategic Alliance Avaya and Extreme • Joint development and marketing of converged communications solutions • Avaya will resell Extreme Networks’ portfolio of data networking products and provide comprehensive planning, design, implementation and management services support • Providing customers wi
Slide 74: Gained Mind Share: Gartner Magic Quadrants
Gained Mind Share North America EMEA Worldwide Contact Center Contact Center Unified Communication June, 2003 July, 2003 February, 2003 Challengers Leaders Challengers Leaders Challengers Leaders Avaya Nortel Genesys Avaya Avaya Ability to Execute Ability to Execute Ability to Execute Nortel Alcatel