TIDMECK
RNS Number : 6580R
Eckoh PLC
04 March 2019
4(th) March 2019
Eckoh plc ("Eckoh")
Strong Contract Momentum Continues
Eckoh, the global provider of secure payment products and
customer contact solutions, is pleased to announce it continues to
experience strong contract momentum, with more than GBP10m in
contract value secured since the half year (30(th) September
2018).
This reflects success in both the UK and the US in converting
significant pipeline opportunities and renewals of existing
contracts. The UK has benefitted particularly from its partnership
channel, whilst the US has had continued traction with healthcare
insurers and the retail sector.
Strong momentum in the UK
New contract wins include the largest Omnichannel agreement
Eckoh has won since the acquisition of Klick2Contact in 2016. This
5-year contract, which was won in a competitive tender process,
will see Eckoh provide an existing business process outsourcing
partner with Omnichannel capability for one of its largest clients,
with the services expected to be extended to further clients in due
course.
Other new contracts include a secure payments agreement worth an
initial GBP0.8m won through a longstanding telecoms partner, which
will see the first implementation on behalf of a large nationwide
automotive dealership. We have also entered into new contracts with
two utility companies worth GBP0.4m.
Significant contracts have also been renewed including a
three-year agreement for customer engagement with Vue Cinemas, and
a two-year renewal with a central government department to continue
providing secure payment services. These were the two largest UK
contracts to come up for renewal in this financial year.
US traction continues
Building on our success with healthcare insurers we have won
further secure payments contracts from this sector, all three years
in length, totalling $2.6m in value. We have also signed a
three-year contract with a product provider to financial
institutions worth over $1m.
In the retail sector we have contracted for our patented
CallGuard solution with a well-known multi-channel interiors
retailer and this contract is being delivered completely through
Eckoh's Cloud platform, which is hosted in Amazon Web Services.
Whilst Cloud opportunities are still much smaller in size, we do
expect this to change over time, and Eckoh is the only US provider
who can deliver contact centre payment security through either an
on-site deployment, a hosted managed service or in the Cloud. The
Group's significant US presence, together with our ability to
provide completely US-based implementation teams, with ease of
integration, and local support are key differentiators identified
by customers.
In the Support area of Eckoh's US business, through a new
partnership with a multinational technology company, we have
renewed a significant contract for a telecommunications client. The
partner came to Eckoh having seen the pedigree of our support
services and the contract is initially worth $1.0m with the
potential to increase to $2.8m depending on future support
requirements.
Nik Philpot, Chief Executive Officer, said:
"After an extremely strong first half to the year, it has been
very encouraging to see that momentum continue with multiple new
contract wins, alongside key renewals, which underpin future market
forecasts. These contract wins, with such well-known enterprises,
reflects Eckoh's position as the preferred supplier for the largest
companies.
We have also made excellent progress with key strategic
initiatives, such as establishing a market leading position in
Cloud delivery for Secure Payments, the ongoing development of our
Omnichannel solution and broadening our partner relationships to
accelerate our penetration of our key markets."
-ENDS-
For more information, please contact:
Eckoh plc
Nik Philpot, Chief Executive Officer Tel: 01442 458 300
Chrissie Herbert, Chief Financial Officer
www.eckoh.com
FTI Consulting LLP
Ed Bridges / Jamie Ricketts / Darius Tel: 020 3727 1000
Alexander
eckoh@fticonsulting.com
N+1 Singer (Nomad & Joint Broker) Tel: 020 7496 3000
Shaun Dobson / Justin McKeegan
www.n1singer.com
Canaccord Genuity Limited (Joint Broker) Tel: 020 7523 8000
Simon Bridges / Emma Gabriel
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 and US.
Our secure payments products help our customers take payments
securely from their clients through multiple channels. Our
products, which include the patented CallGuard, can be hosted in
the Cloud or deployed on the client's site and remove sensitive
personal and payment data from contact centres and IT environments.
Our 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, securing over $2bn in
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.
For more information go to www.eckoh.com or email Media
ResponseUK@eckoh.com
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END
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