New Survey Research Highlights the Need for Companies to Redefine Commerce Beyond Point Transactions; New Features Go Beyond Payments and Deepen Long-Term Customer Relationships
REDWOOD CITY, CA--(Marketwired - November 04, 2014) - Avangate, the leading Digital Commerce solution provider trusted by thousands of Software, Cloud, and Online Services companies to grow their business worldwide, today announced more than 200 new features to the Company's Commerce Solution for Service Providers to launch and grow online revenue streams, rapidly at global scale. With this Fall '14 release of the Avangate Commerce Solution, the company is addressing the challenges of Service Providers and start-ups that need to go beyond traditional payment providers and point transaction solutions.
"Today, we are seeing the digitization of products into services -- what we are calling the 'New Services Economy' -- and it's spawning the next generation of Software and Online Services companies that are redefining commerce. For these new Service Providers and vendors, the ability to truly monetize their offerings is no longer about point payment transactions with the customer, but rather being able to interact, service and expand the relationship with the customer from the discovery, trial, and add-on and retention phases -- all of which are potential opportunities to make purchasing decisions. Our focus has been about serving these innovators who are launching new products or services and looking to build long-term customer lifetime value and recurring revenue streams," said Carl Theobald, CEO at Avangate.
A new consumer survey commissioned by Avangate points to the rising customer demand for longer-term relationships specifically with these new Service Providers and the failure of point transactional payments systems to support them.
Some of the key findings include:
An infographic of the complete results can be found here via this link.
"At Movavi, we pay careful attention to customer lifetime value, especially the metrics around renewal rates for subscriptions," said Albina Zakharenko, Head of Marketing and Sales at Movavi. "Avangate's Commerce solution provides us with clear visibility into key business metrics around authorizations and renewals and with a tool to recover a significant portion of our revenues, which otherwise would have been lost."
"In this New Services Economy, companies need to be able to rapidly create new products and service offerings, offer new subscription, freemium or usage models, and do so in weeks, not months. Service Providers are required to rethink their packaging and pricing for conversion; how to enable their website, call center, resellers, as well as connected devices to service, retain and upsell their customers. Our latest release of the Avangate Commerce Solution arms Software and Online Services companies with over 200 new enhancements to get to market faster across any customer touch point, to move to recurring revenue models easily, and to sell more, globally," said Michael Ni, CMO/SVP of Marketing and Products at Avangate.
The Fall '14 release of the Avangate Commerce Solution includes features designed to help companies move beyond the payment transaction and increase long-term customer revenue and retention.
Two additions to Avangate's solutions line-up include:
Some additional features of the Fall Release enable Service Providers to:
To learn more about the Avangate Revenue Recovery Tools and the Avangate Growth Edition, visit the following links:
Avangate has also unveiled a new microsite that exposes the "Truth in Payments." To read more about the "Top 10 Myths of Payment Processors," visit truthinpayments.com.
About Avangate
Avangate is the leading 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 avangate.com.
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