Eckoh PLC Significant US Contract Win (9264D)
July 01 2019 - 1:00AM
UK Regulatory
TIDMECK
RNS Number : 9264D
Eckoh PLC
01 July 2019
1 July 2019
Eckoh plc
("Eckoh", or "the Company", or "the Group")
Significant US Contract Win
Three-year Coral contract worth $3.8m
Eckoh plc (AIM:ECK), the global provider of secure payment
products and customer contact solutions, today announces it has
secured a three-year contract to provide Coral (the contact centre
agent desktop product), to a US Fortune 100 telecommunications
company. This is a significant extension to an existing client
relationship.
Eckoh has an exclusive contract to sell Coral, and over the last
two years the telecommunications company, who is one of Eckoh's
largest clients, has deployed the market-leading desktop into parts
of its contact centre estate, as well as other Eckoh services. This
new contract represents the next phase of their process to
implement Coral, and their commitment to three years of support
suggests Coral is their long-term desktop of choice. As previously
highlighted, the timing of Coral contracts is difficult to predict
as the sales cycle is extremely protracted as the clients are
typically very large organisations for which this is a long-term
decision.
The agent desktop is the interface through which a contact
centre advisor interacts with the end customer, using a variety of
engagement channels. Coral is differentiated by its ability to
support multiple CTIs ('Computer Telephony Integration') and CRMs
('Customer Relationship Management'), allowing large contact centre
estates that have differing technology to provide a standardised
approach and common interface. It is proven to work at scale with
live deployments of over 20,000 agents and was the first desktop to
be delivered over a browser using secure HTML5 technology, enabling
large organisations to implement quickly and roll out new features
almost instantaneously.
The contract is worth a minimum of $3.8m to Eckoh, comprising
$2.1m in licences and $1.7m for maintenance and support over the
three-year period. The support element relates partly to the new
licences and partly to the existing licences, which will now be
charged at a reduced rate due to the increased volume. As Coral is
the only product that Eckoh actively sells that is not its own
technology, the revenue from both licences and support is subject
to a revenue share with the company who developed the solution. We
would expect all the licence revenue to be recognised in this
year's income statement, of which approximately half will be paid
on to Coral. We expect our levels of Coral support revenue for this
year to be largely unchanged.
Nik Philpot, Chief Executive Officer, commented:
"We are extremely pleased to have secured this important and
valuable Coral contract from one of Eckoh's longstanding and most
significant clients. Following a highly successful initial
deployment they have selected Coral as the desktop of choice for
their contact centre operation. Because of Coral's unique features,
we have always believed that it would be adopted by some of the
very largest organisations globally, and this contract confirms the
benefits that Coral delivers.
Eckoh's US operation is targeting the largest enterprises across
our entire range of solutions, and then actively cross selling into
those clients. This contract is another illustration of that
strategy proving to be highly effective."
-ENDS-
For more information, please contact:
Eckoh plc
Nik Philpot, Chief Executive Officer Tel: +44 (0) 1442
458 300
Chrissie Herbert, Chief Financial Officer
www.eckoh.com
FTI Consulting LLP Tel: +44 (0) 203
727 1000
Ed Bridges / Jamie Ricketts / Darius Alexander
eckoh@fticonsulting.com
N+1 Singer (Nomad & Joint Broker)
Shaun Dobson, Justin McKeegan Tel: +44(0) 20 7496
3000
www.n1singer.com
Canaccord Genuity Limited (Joint Broker)
Simon Bridges, Emma Gabriel Tel: +44(0) 20 7523
8000
www.canaccordgenuity.com
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 clients take payments
securely from their customers through multiple channels. The
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.
They 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 Omnichannel 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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