Click here to close now.

Welcome!

News Feed Item

Avangate Launches First Digital Commerce Solution for the New Services Economy

New research reveals unique challenges and opportunities of selling services; Avangate responds with new features to help companies reduce the cost of customer acquisition, quickly create, package and market new services and speed overall time-to-market

REDWOOD SHORES, CA--(Marketwired - June 10, 2014) - Avangate, the leading Digital Commerce solution provider trusted by thousands of Software and Online Services companies to grow their business worldwide, today introduced the first Digital Commerce solution for the New Services Economy. With the Summer 2014 release of its Avangate Commerce Solution, the company is addressing the needs of the rapidly growing Online Services market.

"Online Services is the next trillion dollar market being accelerated by the explosion of cloud computing and mobility coupled with increased consumer demand to purchase whenever, wherever and however they want. This proliferation of new service offerings is cutting across all industries - from finding a limo driver, to accessing business software, to receiving legal advice. In this new world where buyers are in control, the expectations for online service providers to personalize and seamlessly sell, deliver and support have been permanently raised. We call this the New Services Economy," said Carl Theobald CEO, Avangate.

A new consumer survey commissioned by Avangate spotlights the current state of the New Services Economy, how consumers buy Online Services, as well as some of the key drivers and detractors to consumer adoption. An infographic of the complete results can be found here.

Some of the key findings include:

  • 63 percent of US adults already use at least one Online Service daily with over 50 percent of those adults paying for those same services
  • Over half of US adults would consider paying for Online Services if they were offered as a trial (60%) or could be purchased with the ability to self-service modify their service options at any time (50%)
  • 90 percent of consumers do not update their credit cards on file, directly dropping retention and revenue.
  • Some of the top customer frustrations with Online Services include: difficult-to-reach live support (49%), inflexible purchasing options (41%), and slow customer service/resolution (35%).

"At HP Software, we clearly see a momentum shift toward online services for B2B software. We acquire and retain customers by providing a seamless trial, purchase, and post-purchase experience. Avangate's Commerce Solution helps us enable our customers to get started quickly and to flexibly choose the services they need," said Caroline Tsay, vice president of Web and eCommerce at HP's Software division.

"Over a year in the making, our new release brings together unique commerce requirements for the New Services Economy, enabling online services companies to quickly package and price service offerings with complex options; provision, manage and automate service entitlements; and drive critical retention via smart customer and payments management. This will help companies speed time-to-market, eliminate integration headaches, and rapidly launch new services in 180 countries worldwide without dedicating valuable resources and facing the constraints inherent to in-house, build it yourself from the ground up offerings," said Michael Ni, Avangate's CMO/ SVP of Marketing and Products.

The Summer '14 release of the Avangate Commerce Solution includes features designed to help companies accelerate their growth and better monetize how buyers are buying today. Some key benefits and features of this new release include:

Accelerate time to market with the flexibility to easily price, package and then commerce-enable every customer touch point to be able to order, activate, and service customers.

  • Enhanced online self-service (hosted online carts and account management) - 1-click renewals, enhanced cart abandonment recovery AB testing tools, new cross-selling and renewal promotions, and rules-based retention flows
  • Brandable, secure mobile cart - simplified ordering and mobile analytics
  • Services Distribution - multi-language customizable partner-reseller portals, direct subscription registration, expanded affiliate attribution, categories, subscription payouts
  • Call Center Console - full capabilities for call center and other agents to fully manage customers, orders, subscription management (suspend, discount, extend), as well as cross sell and manage trials on behalf

Simplify and enable the easy scaling of services businesses without having to add more "back office" teams of IT, finance, risk, and chargeback manpower.

  • Automated Commerce Triggers - rules-based triggers for commerce and subscription billing events for cart abandonment, personalized cross-sell, retention, and recovery / dunning processing
  • Secure Management of Cards on File - 1 click ordering, renewals and upgrades, multiple cards on file self-service
  • Expanded Chargeback and Fraud Management - tools, automated processing, detailed insights per product, reasons, payment methods and billing cycles and services
  • Continually Expanding Global Support and Compliance - Russian and Portuguese customer support, expanded local support numbers, SEPA and EU Consumer Rights adoption

Maximize conversion and profitable customer retention with smarter payments to leverage the best from payment providers around the world.

  • Authorization Dashboard - recurring revenue analytics across retention & payment authorization strategies (e.g., Account Updater, Retry logic efficiency, routing, and others)
  • Expanded Customer and Subscription Reports - cohort analytics, recurring revenue reports, renewal forecasts, customer lifetime value and history
  • Intelligent Payment Routing (IPR II) - multi-payment processor management and optimization, local processing routing, cascading billing, Retry Engine+, integrated dunning and metrics
  • Payments Beyond Credit Cards - support for recurring ACH and iDeal, expanded PO management and check processing, as well as expanded payment and alternative payment options in LATAM (e.g., installment payments, local cards) and CIS (local cards)

Learn more about the New Services Economy and how Avangate can grow your online revenues.

About Avangate
Avangate is the leading Digital Commerce provider that enables the New Services Economy, helping software, SaaS 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.

Image Available: http://www.marketwire.com/library/MwGo/2014/6/10/11G016799/Images/avangate-info-icon201406-1137350821975.jpg

Media Contact
For media & PR inquiries, please contact:
Vera Wang | Highwire PR
Tel: +1 415-463-4174 ext. 31 | Email: Email contact

Delia Ene | Avangate
Tel: +31 20 890 8080 ext: 4654 | Email: Email contact

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
"Plutora provides release and testing environment capabilities to the enterprise," explained Dalibor Siroky, Director and Co-founder of Plutora, in this SYS-CON.tv interview at @DevOpsSummit, held June 9-11, 2015, at the Javits Center in New York City.
SYS-CON Events announced today that JFrog, maker of Artifactory, the popular Binary Repository Manager, will exhibit at SYS-CON's @DevOpsSummit Silicon Valley, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Based in California, Israel and France, founded by longtime field-experts, JFrog, creator of Artifactory and Bintray, has provided the market with the first Binary Repository solution and a software distribution social platform.
To many people, IoT is a buzzword whose value is not understood. Many people think IoT is all about wearables and home automation. In his session at @ThingsExpo, Mike Kavis, Vice President & Principal Cloud Architect at Cloud Technology Partners, discussed some incredible game-changing use cases and how they are transforming industries like agriculture, manufacturing, health care, and smart cities. He will discuss cool technologies like smart dust, robotics, smart labels, and much more. Prepare...
It is one thing to build single industrial IoT applications, but what will it take to build the Smart Cities and truly society-changing applications of the future? The technology won’t be the problem, it will be the number of parties that need to work together and be aligned in their motivation to succeed. In his session at @ThingsExpo, Jason Mondanaro, Director, Product Management at Metanga, discussed how you can plan to cooperate, partner, and form lasting all-star teams to change the world...
In his session at 16th Cloud Expo, Simone Brunozzi, VP and Chief Technologist of Cloud Services at VMware, reviewed the changes that the cloud computing industry has gone through over the last five years and shared insights into what the next five will bring. He also chronicled the challenges enterprise companies are facing as they move to the public cloud. He delved into the "Hybrid Cloud" space and explained why every CIO should consider ‘hybrid cloud' as part of their future strategy to achi...
"We got started as search consultants. On the services side of the business we have help organizations save time and save money when they hit issues that everyone more or less hits when their data grows," noted Otis Gospodnetić, Founder of Sematext, in this SYS-CON.tv interview at @DevOpsSummit, held June 9-11, 2015, at the Javits Center in New York City.
"We have a tagline - "Power in the API Economy." What that means is everything that is built in applications and connected applications is done through APIs," explained Roberto Medrano, Executive Vice President at Akana, in this SYS-CON.tv interview at 16th Cloud Expo, held June 9-11, 2015, at the Javits Center in New York City.
Containers are changing the security landscape for software development and deployment. As with any security solutions, security approaches that work for developers, operations personnel and security professionals is a requirement. In his session at DevOps Summit, Kevin Gilpin, CTO and Co-Founder of Conjur, will discuss various security considerations for container-based infrastructure and related DevOps workflows.
Internet of Things is moving from being a hype to a reality. Experts estimate that internet connected cars will grow to 152 million, while over 100 million internet connected wireless light bulbs and lamps will be operational by 2020. These and many other intriguing statistics highlight the importance of Internet powered devices and how market penetration is going to multiply many times over in the next few years.
Internet of Things (IoT) will be a hybrid ecosystem of diverse devices and sensors collaborating with operational and enterprise systems to create the next big application. In their session at @ThingsExpo, Bramh Gupta, founder and CEO of robomq.io, and Fred Yatzeck, principal architect leading product development at robomq.io, discussed how choosing the right middleware and integration strategy from the get-go will enable IoT solution developers to adapt and grow with the industry, while at th...
The most often asked question post-DevOps introduction is: “How do I get started?” There’s plenty of information on why DevOps is valid and important, but many managers still struggle with simple basics for how to initiate a DevOps program in their business. They struggle with issues related to current organizational inertia, the lack of experience on Continuous Integration/Delivery, understanding where DevOps will affect revenue and budget, etc. In their session at DevOps Summit, JP Morgenthal...
Agile, which started in the development organization, has gradually expanded into other areas downstream - namely IT and Operations. Teams – then teams of teams – have streamlined processes, improved feedback loops and driven a much faster pace into IT departments which have had profound effects on the entire organization. In his session at DevOps Summit, Anders Wallgren, Chief Technology Officer of Electric Cloud, will discuss how DevOps and Continuous Delivery have emerged to help connect dev...
Malicious agents are moving faster than the speed of business. Even more worrisome, most companies are relying on legacy approaches to security that are no longer capable of meeting current threats. In the modern cloud, threat diversity is rapidly expanding, necessitating more sophisticated security protocols than those used in the past or in desktop environments. Yet companies are falling for cloud security myths that were truths at one time but have evolved out of existence.
Overgrown applications have given way to modular applications, driven by the need to break larger problems into smaller problems. Similarly large monolithic development processes have been forced to be broken into smaller agile development cycles. Looking at trends in software development, microservices architectures meet the same demands. Additional benefits of microservices architectures are compartmentalization and a limited impact of service failure versus a complete software malfunction. ...
Today air travel is a minefield of delays, hassles and customer disappointment. Airlines struggle to revitalize the experience. GE and M2Mi will demonstrate practical examples of how IoT solutions are helping airlines bring back personalization, reduce trip time and improve reliability. In their session at @ThingsExpo, Shyam Varan Nath, Principal Architect with GE, and Dr. Sarah Cooper, M2Mi’s VP Business Development and Engineering, will explore the IoT cloud-based platform technologies drivi...