2023

Let's Save It Program

Entrant Company

RingCentral

Category

Company & Organization - Most Innovative Company of the Year

Client's Name

Country / Region

United States

RingCentral, a global cloud-based communications company operating in over 45 countries, has consistently embraced innovation and streamlined processes since its inception. In line with this commitment, the company’s Chief Financial Officer, Sonalee Parekh, spearheaded an impressive initiative to expand the operating margin and drive sustainable growth.

Sonalee Parekh was appointed in May 2022 as the company’s Chief Financial Officer and immediately made a positive impact on the organization’s financial processes and culture. With cost savings, healthy growth, and innovation on her mind, she sponsored and championed RingCentral’s ‘Let’s Save It’ initiative – an internal program that has saved the company over one million dollars since its inception in May 2022, with another two million dollars in the pipeline.

From the very beginning of ‘Let’s Save It’, key guiding principles set the groundwork for success. The program focuses on weaving together strategic alignment, innovative thinking, business acumen, originality, commitment to continuous improvement, nurturing employee development, and of course, a profound and quantifiable impact.

With that in mind, the ‘Let’s Save It’ program was designed to give employees the freedom to imagine, create, and execute their ideas. It enables company-wide participation and unlocks employees’ ability to generate cost savings and efficiencies that support the financial health of the business. The program enables a path to submit innovative cost savings ideas from anywhere, at any time, but what makes the program truly breakthrough is that it gives employees a chance to participate in the resulting savings from their ideas (the company saves, the employee benefits)! ‘Let’s Save It’ revolutionizes margin improvement by democratizing the process, encouraging global participation, and yielding remarkable results.

 
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