New Features Help Service Providers Control Revenue Moments Across the Digital Commerce Lifecycle
REDWOOD CITY, CA--(Marketwired - June 23, 2015) - Avangate, the modern Digital Commerce solution provider trusted by thousands of Software, Cloud and Online Services companies to grow their business worldwide, today announced over 200 new features as part of its new Summer '15 release. The enhancements will enable service providers and digital innovators to eliminate revenue leakage and fully capitalize on new revenue moments.
With this new release of the Avangate Commerce Solution, the company is addressing the revenue leakage challenges digital businesses face in the New Services Economy, offering a unique set of tools and actionable insights to drive maximum customer value.
"The New Services Economy represents the next rapidly expanding trillion-dollar market and is reshaping how companies should view Digital Commerce. It's no longer a hit-and-run, one-time transactional economy. The proliferation of pay-as-you-go business models and the explosion of revenue moments across the activation, upsell/cross-sell, renewal and retention stages require companies to focus beyond just upfront customer acquisition," said Carl Theobald, CEO of Avangate. "Each revenue moment is an opportunity for digital businesses to build long-term relationships with their customers. Otherwise, it can be a point of failure that drains revenue. How companies navigate these moments and points of revenue leakage across the Commerce Lifecycle are life or death for digital businesses."
A recent, nationwide consumer survey commissioned by Avangate points to the increased appetite for online services and new consumer preferences for how they buy and subscribe. The data suggests that companies should adapt their customer retention strategies to take advantage of new revenue moments, beyond the initial acquisition phase.
Some of the key findings include:
"Our data proves what we've long suspected: Digital transformation is changing consumer behaviors, and businesses need to adapt in order to take advantage of the New Services Economy. Consumers expect to interact with vendors and merchants at every point of engagement, whether online, in-store, in-app, via your call center, or even through partners. Every transaction is a revenue moment and needs to be a frictionless user experience -- from initial purchase, to upgrade or downgrade, vacation hold, and early renewal," said Michael Ni, CMO of Avangate. "Our latest product release addresses the explosion of revenue moments driven by changing consumer behavior, and solves the problem of revenue leakage by helping digital businesses recover 10 to 20 percent of impacted revenue and converting it directly to revenue uplift."
Avangate's Summer '15 release of its modern Digital Commerce Solution addresses the increasing problem of revenue leakage throughout the Commerce Lifecycle. Key additions to Avangate's solution include:
"Avangate's Digital Commerce solution and expertise have enabled us to optimize our eCommerce strategy and online acquisition year over year," said Irina Sanaeva, Lead Marketing Manager, Online Media Technologies Ltd. "With today's increased focus on client retention, Avangate's commerce platform continues to prove its value, by helping us optimize conversion and renewal rates, while providing immediate reporting on KPIs that matter to our business. With the recently launched Revenue Recovery Tools, we have been able to reduce revenue leakage and obtain 14% revenue uplift on our auto-recurring subscriptions -- important percentage points that we would have otherwise not recovered. We applaud Avangate's initiative to extend the RRT into proactive cancellation prevention and other tools that will help us improve retention even further."
To learn more about the Avangate's Summer '15 release, please visit the following links:
Avangate is the modern Digital Commerce provider that enables the New Services Economy, helping Software, Cloud and Online Services companies sell their products and services via any channel, acquire customers across touchpoints, increase retention, leverage smarter payments, experiment on the fly and optimize their business in order to increase overall revenue.
Avangate's clients include Absolute Software, Bitdefender, Brocade, FICO, HP Software, Kaspersky, Metaio and many more companies across the globe.
More information can be found on www.avangate.com.
Avangate polled 1,008 adult respondents across the United States via an online survey between April 30, 2015 and May 14, 2015. The margin of error is +/-3 percentage points.
(1) "Per Capita Disposable Income by State," New Jersey Labor and Workforce Development, March 2015 http://lwd.dol.state.nj.us/labor/lpa/industry/incpov/dpci.htm