TIDMECK
RNS Number : 2337N
Eckoh PLC
24 October 2016
For Immediate Release 24 October 2016
Eckoh plc
("Eckoh" or the "Company")
US Contract Wins
Eckoh (AIM: ECK), the global provider of secure payment products
and customer contact solutions, is pleased to announce that it has
recently secured three significant contracts in the US worth over
$2.5m in total over the next three years.
Two of the contracts are for Eckoh's secure payments solution
charged on a Software as a Service ("SaaS") basis. This reflects
the shift in the Company's US pipeline to focus on a SaaS style
pricing model, highlighted in the trading update on 2 September,
which over time will offer Eckoh greater revenue visibility,
longer-term client relationships and higher overall gross
margins.
The first contract is a two-year agreement with one of the
largest manufacturers and suppliers of nutritional supplements in
the US. The contract represents an important milestone as it is the
first time that Eckoh has sold a hosted secure payments solution in
the US market. The second contract is a three-year deal with a
Fortune 500 corporation in the financial services sector. Notably,
the client is a long-standing customer of PSS who Eckoh acquired in
November 2015, and the contract represents the first success in
cross-selling Eckoh's secure payments solutions into the extensive
PSS customer base. Both contracts are expected to go live by Spring
2017 and will begin to generate recurring revenue in the new
financial year.
The third contract win is a three-year agreement with one of the
largest US telecommunications providers. Eckoh will provide its
market leading browser-based agent desktop 'Coral' to over 3,000
contact centre agents in a brand new facility opening at the end of
2016. Coral acts as an aggregator for any underlying technology on
which the contact centre may be operating. It simplifies the
agent's operating screen reducing call handling time, and provides
the enterprise with total scalability, a futureproof environment
and allows new features to be implemented seamlessly and
instantly.
Nik Philpot, Chief Executive Officer of Eckoh, commented:
"It is exciting to see the contract momentum in the US market
building and for Eckoh to be increasingly securing contracts of
greater value and with brand leaders in their fields. In addition,
the move to a SaaS style price model will over time build a base of
recurring revenue in the US comparable to the UK operation and we
would expect this to underpin the growing value of the Company in
future years.
Our trading performance at the end of the first half of the year
has been strong and we remain confident that the revised market
expectations for this financial year will be achieved."
This announcement contains inside information.
For more information, please contact:
Eckoh plc
Nik Philpot, Chief Executive Officer Tel: 01442 458 300
Adam Moloney, Group Finance Director
www.eckoh.com
Buchanan
Sophie McNulty, Stephanie Watson Tel: 020 7466 5000
www.buchanan.uk.com
N+1 Singer (Nomad & Joint Broker)
Shaun Dobson, Lauren Kettle Tel: 020 7496 3000
www.n1singer.com
Berenberg (Joint Broker)
Ben Wright, Chris Bowman, Amritha Murali Tel: 020 3207 7800
www.berenberg.de/en
About Eckoh plc
Eckoh is a global provider of secure payment products and
customer contact solutions, supporting an international client base
from its offices in the UK, US and Australia.
Our Haloh Suite of secure payments products, which can be hosted
in the Cloud or deployed on the client's site, removes sensitive
personal and payment data from contact centres and IT environments.
The products offer merchants a simple and effective way to reduce
the risk of fraud, secure sensitive data and become compliant with
the Payment Card Industry Data Security Standards ("PCI DSS") and
wider data security regulations. Eckoh has been a PCI DSS Level One
accredited Service Provider since 2010, processing over $1 billion
in card payments annually.
Eckoh's customer contact solutions enable enquiries and
transactions to be performed on whatever device the customer
chooses, allowing organisations to increase efficiency, lower
operational costs and provide a true omni-channel experience. We
also assist organisations in transforming the way that they engage
with their customers by providing support and transition services
as they implement our innovative customer contact solutions.
Our large portfolio of clients come from a broad range of
vertical markets and includes government departments, telecoms
providers, retailers, utility providers and financial services
organisations.
About Coral
Coral Active is an Australian based technology company. In 2011
PSS worked with Coral to help them develop a brand new agent
desktop, which was subsequently implemented at a large
telecommunications company in Australia across 25,000 contact
centre agents and continues to be used today.
The agent desktop is the screen that the contact centre agent
uses as an interface to engage with an inbound customer enquiry.
This could range from taking a call, responding to an email or
engaging in a web chat. Many contact centre operations have
multiple screens that the agent has to use. By using Coral these
can be consolidated into a single desktop view which reduces the
handling time for the agent, probably the most critical KPI in any
contact centre operation.
Because the desktop is browser based using HTML5, it is secure
and easy to implement and maintain, as uniquely it does not require
any software to be installed on the agent's desktop. It also acts
as an aggregator for the underlying contact centre infrastructure,
integrating with leading suppliers such as Genesys, Cisco, Aspect
and Avaya.
PSS had a worldwide exclusive contract in place to sell the
Coral product when Eckoh bought the company in Nov 2015. A new
agreement was put in place in January 2016.
This information is provided by RNS
The company news service from the London Stock Exchange
END
CNTVXLFLQBFZFBD
(END) Dow Jones Newswires
October 24, 2016 02:00 ET (06:00 GMT)
Eckoh (LSE:ECK)
Historical Stock Chart
From Apr 2024 to May 2024
Eckoh (LSE:ECK)
Historical Stock Chart
From May 2023 to May 2024