Protected.net Reduces Customer Churn and Captures Lost Revenue with Vindicia Select
Vindicia helps leading antivirus software company increase revenue by over $2 million
SAN MATEO, Calif., May 14, 2019 (GLOBE NEWSWIRE) -- Vindicia, an Amdocs company (NASDAQ: DOX) and a leader in business-to-consumer digital services monetization, announced today that Protected.net is successfully using Vindicia Select to recapture almost 16% of failed payment transactions, resulting in approximately $2 million of additional annualized revenue.
Protected.net provides advanced online security protection through a wide range of security tools and applications to keep users safe. The company’s product suite has protected 7 million users in the digital world, along with their devices and families over the past 12 months alone.
Like many other subscription-based businesses, Protected.net has the challenge of customer churn and involuntary cancellations. These payment failures often occur as a result of incorrect or outdated credit card information, such as an expired card or billing address change, resulting in the automatic cancellation of a customer due to non-payment.
With Vindicia Select, Protected.net has dramatically cut its involuntary churn rate, leading to increased retention and longer customer lifetimes. Further, because Vindicia Select’s technology automatically fixes failed transactions, customers maintain seamless and uninterrupted access to the Protected.net service.
A recent Forrester Consulting study found that Vindicia Select helps companies recover significant numbers of terminally failed payment transactions, which in turn reduces pressure on billing teams, enhances customer retention rates, increases revenues, improves overall customer lifetime value and protects brand value. Over three years, a composite organization received a net present value (NPV) of approximately US$76.5 million [of incremental revenue], according to the study.
Vindicia Select’s technology applies machine learning to analyze vast data sets and extract invaluable customer insights. When applied to failed transactions, Vindicia Select discovers the reason for the processing failure and takes corrective action to resolve the issue. After the client resubmits the information, they are then able to successfully complete the customer’s payment. Additionally, through Vindicia Select’s insights organizations can better predict customer motivations and create additional revenue through more personalized offers.
“Any subscription business that accepts card payments knows that failed transactions can have a significant impact on overall churn rates,” said Daniel Short at Protected.net. “That’s why every subscription business needs the power of Vindicia Select to reduce churn, increase revenue and eliminate the negative effects that intrusive customer recapture efforts have on the overall consumer experience. Vindicia Select is a technology that has truly transformed our business.”
Protected.net is also benefitting from the tight integration between its payment processor, Paysafe, and Vindicia Select. This integration brings together the unique capabilities of Vindicia Select with Paysafe’s payment processing and merchant acquiring solutions. The strategic relationship enables customers like Protected.net to successfully process an increasing volume of regular recurring payment transactions by automatically resolving previously failed credit card payments.
“We are extremely pleased that Vindicia Select is playing a critical role in Protected.net’s rapid growth by making it easier for their customers to make recurring payments,” said Sharath Dorbala, head of Vindicia, an Amdocs company. “We look forward to helping Protected.net further reduce churn, achieve greater recurring revenue and extend the lifetime value of their customers.”
Launched in 2016, Protected.net has experienced exceptional customer growth and made large strides within the cyber-security industry. Its talented team has combined proprietary software with technology from industry-leading security brands, to produce an all-in-one security product with a market leading feature set. Protected.net has become Microsoft accredited, passed antivirus industry detection tests and shortlisted for the Rising Star award at the UK Private Business Awards.
Vindicia, an Amdocs company, offers comprehensive subscription management solutions that help businesses acquire and retain more customers. Providing much more than just a billing and payments system, the company’s SaaS-based subscription management platform combines big data analysis, strategic consulting and proprietary retention technology. Vindicia provides its clients with more recurring revenue, more customer data, better insights, and greater value throughout the entire subscriber lifecycle. That’s why they call us the Subscription People. To learn more visit http://www.vindicia.com/.
Amdocs is a leading software and services provider to communications and media companies of all sizes, accelerating the industry’s dynamic and continuous digital transformation. With a rich set of innovative solutions, long-term business relationships with 350 communications and media providers, and technology and distribution ties to 600 content creators, Amdocs delivers business improvements to drive growth. Amdocs and its 25,000 employees serve customers in over 85 countries. Listed on the NASDAQ Global Select Market, Amdocs had revenue of $4.0 billion in fiscal 2018. For more information, visit Amdocs at www.amdocs.com.
Amdocs’ Forward-Looking Statement
This press release includes information that constitutes forward-looking statements made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995, including statements about Amdocs’ growth and business results in future quarters. Although we believe the expectations reflected in such forward-looking statements are based upon reasonable assumptions, we can give no assurance that our expectations will be obtained or that any deviations will not be material. Such statements involve risks and uncertainties that may cause future results to differ from those anticipated. These risks include, but are not limited to, the effects of general economic conditions, Amdocs’ ability to grow in the business markets that it serves, Amdocs’ ability to successfully integrate acquired businesses, adverse effects of market competition, rapid technological shifts that may render the Company's products and services obsolete, potential loss of a major customer, our ability to develop long-term relationships with our customers, and risks associated with operating businesses in the international market. Amdocs may elect to update these forward-looking statements at some point in the future; however, the Company specifically disclaims any obligation to do so. These and other risks are discussed at greater length in the Company's filings with the Securities and Exchange Commission, including in our Annual Report on Form 20-F for the fiscal year ended September 30, 2018 filed on December 10, 2018 and our quarterly 6-K form furnished on February 19, 2019.
Amdocs Public Relations
Tel: +44 (0)7896 931 335
Finn Partners for Vindicia
One Liberty Plaza - 165 Broadway
NY 10006 New York
GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.
Subscribe to releases from GlobeNewswire
Subscribe to all the latest releases from GlobeNewswire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from GlobeNewswire
NAXS Delårsrapport januari – september 201918.10.2019 17:45:00 CEST | Pressemelding
Nio månader 2019 Resultat efter skatt uppgick till 26,4 (22,2) MSEK. Resultatet per aktie uppgick till 2,29 (1,70) SEK. Substansvärdet uppgick till 717 MSEK (SEK 64,16 per aktie) per den 30 september 2019, jämfört med 736 MSEK (SEK 61,81 per aktie) per den 31 december 2018. De omfattande aktieåterköpen under delårsperioden samt betalning av utdelningen för 2018 var de två viktigaste orsakerna till det minskade substansvärdet. Nettokassan uppgick till 194 MSEK (17,40 SEK per aktie) per den 30 september 2019, jämfört med 261 MSEK (21,94 SEK per aktie) per den 31 december 2018. Årsstämman 2019 beslutade att lämna en utdelning om 2,78 SEK per aktie. Tredje kvartalet 2019 Resultat efter skatt uppgick till 11,7 (10,6) MSEK. Resultatet efter skatt per aktie uppgick till 1,05 (0,86) SEK. VD-kommentar NAXS hade en fortsatt stabil utveckling under det tredje kvartalet med en tillväxt i substanse/aktie om 3% under kvartalet och 7,4% över en 12-månaders period, inklusive lämnad utdelning. NAXS har
Interim Report January-September 201918.10.2019 17:45:00 CEST | Press release
Nine months 2019 Net profit/loss for the period amounted to MSEK 26.4 (22.2). Earnings per share amounted to SEK 2.29 (1.70). Net asset value amounted to MSEK 717 (SEK 64.16 per share) at September 30, 2019, compared to MSEK 736 (SEK 61.81 per share) at year-end 2018. The fact that the total net asset value decreased, while the net asset value per share increased is due to the shares repurchases made during the period. Net cash amounted to MSEK 194 (SEK 17.40 per share) at September 30, 2019, compared to MSEK 261 (SEK 21.94 per share) at year-end 2018. The 2019 Annual General Meeting resolved that a dividend of 2.78 SEK per share to the shareholders for FY 2018. Third quarter 2019 Net profit/loss for the quarter amounted to MSEK 11.7 (10.6). Earnings per share amounted to SEK 1.05 (0.86). Comments by the CEO NAXS delivered a steady performance during the third quarter of 2019, with the NAV/share growing by 3% during the quarter and by 7.4% over 12 months, including the dividend paid. N
DNO ASA: Mandatory Notification of Trade18.10.2019 16:47:00 CEST | Press release
Oslo, 18 October 2019 - DNO ASA, the Norwegian oil and gas operator, has today purchased 1,200,000 own shares at an average price of NOK 12.4482 per share. Following this transaction, DNO holds 78,800,000 own shares. -- For further information, please contact: Media: email@example.com Investors: firstname.lastname@example.org -- DNO ASA is a Norwegian oil and gas operator focused on the Middle East and the North Sea. Founded in 1971 and listed on the Oslo Stock Exchange, the Company holds stakes in onshore and offshore licenses at various stages of exploration, development and production in the Kurdistan region of Iraq, Norway, the United Kingdom, Netherlands, Ireland and Yemen. This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
PCI Biotech: Mandatory notification regarding trade of shares18.10.2019 14:59:00 CEST | Press release
Stocken Invest AS, a wholly owned company by Lars Viksmoen, has on 18 October 2019 transferred 12,966 shares in PCI Biotech Holding ASA (“PCI Biotech”) to Lars Viksmoen, board member of PCI Biotech, at an average price of NOK 26.80 per share. After the transaction, Lars Viksmoen holds 12,966 shares in PCI Biotech and Stocken Invest AS holds 0 shares in PCI Biotech. This information is subject to the disclosure requirements pursuant to section 4-2 of the Norwegian Securities Trading Act.
Announcement of the Management Board of joint stock company “Olainfarm”18.10.2019 14:23:00 CEST | Press release
The joint stock company “Olainfarm” has received draft decisions prepared by the initiators of the November 1, 2019 Extraordinary General Meeting of Shareholders – limited liability company “OLMAFARM” and Andrejs Saveljevs who is authorized representative of Nika Saveljeva, which include, inter alia, a list of candidates for the Council and Auditing committee of joints stock company “Olainfarm”. The requirements laid down in the laws and regulations in force in Republic of Latvia and in related documents determines the specific requirements to be complied with by capital companies listed in regulated market regarding their management and disclosure of information. Legislation of the Republic of Latvia (including the Financial Instrument Market Law) sets requirements for capital companies, and the European Union and the OECD (Organization for Economic Co-operation and Development) set out recommendations for the corporate governance of the capital companies. Nasdaq Riga, AS has develope
Nordic American Tankers Limited (NYSE:NAT) Announces the date for its 2019 Annual General Meeting of Shareholders (AGM)18.10.2019 13:32:00 CEST | Press release
Hamilton, Bermuda, October 18, 2019. Nordic American Tankers Limited today announced that its Board of Directors has scheduled the 2019 AGM, to be held on November 20, 2019 at 10:00 a.m., local time, at the LOM Building,27 Reid Street, Hamilton HM 11 Bermuda. The Board has set a record date of October 8, 2019 for the determination of the NAT shareholders entitled to receive notice of and to vote at the AGM or any adjournment thereof. The Notice of the Meeting and Proxy Statement will be furnished to the Securities and Exchange Commission (SEC) on October 18, 2019. CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS Matters discussed in this press release may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in order to encourage companies to provide prospective information about their business. Forward-looking statements include statements concerning plans, objectives, goals,