BroadSoft Inc (NASDAQ:BSFT) has embarked on the process of obtaining FedRAMP compliance for its platform called BroadCloud and application called UC-One. These secure communications solutions are already trusted by government agencies, but the company is betting that being FedRAMP compliant will unlock more sales opportunities.
In particular, BroadSoft said that the FedRAMP compliance will make it easier for its public sector resellers to deliver collaboration services and unified communication to government agencies. BroadCloud and UC-One are communications solutions that BroadSoft has optimized for use in government environments. As such, the solutions are designed to improve productivity, foster collaboration and expand secure accessibility without denting the budgets of government agencies.
According to BroadSoft, UC-One and BroadCloud solutions help by minimizing obstacles linked to implementation of new technology environments within the usually stringent compliance requirements.
Additional version of BroadCloud
BroadSoft has promised to roll out an additional version of its BroadCloud software that will specifically feature extended security controls such as personal identity verification (PIV). The new version of BroadCloud will also come with increased support for FedRAMP compliance requirements to simplify work for government agencies using cloud services.
BroadSoft is pursuing FedRAMP compliance for its government-focused communication solutions and promising a new version of BroadCloud after it recently moved to consolidate its position in the digital workplace with the acquisition of Intellinote.
The acquisition of Intellinote gave BroadSoft access to a range of enterprise tools such as messaging and content management software. The company didn’t reveal the financial terms of the deal. Under its Project Tempo, BroadSoft is trying to simplify the digital workplace and that informed the acquisition of Intellinote.
BroadSoft’s EPS of $0.37 last quarter was better than the guided range of $0.20-$0.32 and surpassed the consensus estimate of $0.26. Revenue of $73.1 million handily exceeded the consensus target of $71.59 million.
For the current quarter (2Q2016) BroadSoft expects EPS to fall within the range of $0.25-$0.40 and revenue is expected in the band of $76-$81 million. Although the top-line guidance range is within the consensus projected target of $79.9 million, the EPS estimate range fell short of the consensus target of $0.44.