Ann: Enterprise Strategy Update and Investor Presentation-NOR.AX, page-21

UCaaS = Unified Communications as a Service.

This link probably gives a better explanation and historical context than I could offer alone.
http://searchunifiedcommunications....service-emerging-as-a-viable-deployment-model

As you can see, UCaaS can go much further than where NOR is now and even perhaps where it is headed. Not necessarily a good or bad thing.

NOR has a great USP in its short-hop connection to existing telephony networks. But it is severely under-capitalised and therefore unable to develop its technology in a timely manner and unable to spend the big buck required to promote it. They spent a big chunk of their change on promoting WP; which was ill-conceived considering the product was half-arsed. That is, lacking data. And it went after the individual rather than businesses.