50 Fastest Growing Tech Companies 2017: Vindicia
Dec 4, 2017 | By The Silicon Review
How to Accelerate Online Subscription Revenue Growth: Vindicia
Today’s eCommerce businesses are at the leading edge of a transformative wave. The surge in online innovation is profoundly changing the way consumers purchase goods and services. Taking advantage of subscription- and membership-based recurring revenue business models, innovative startups launched just a few years ago have today morphed into major household brands.
The main reason for their stratospheric rise is simple: consumers love the ease and variety of the subscription model. Businesses love it too, because it gives them recurring revenue and a predictable way forward. With a subscription model, businesses can readily calculate the lifetime value of their customers, efficiently manage inventory, competitively price products, and quickly build revenues and customer loyalty.
However, trying to use traditional billing systems in a modern recurring billing environment can be frustrating, impacting a company’s ability to win, service, and retain online customers. For example, it can take weeks just to set up a simple free trial promotion—and just as long to refine the promotion to identify what appeals most to target customers.
Legacy billing systems simply weren’t designed to handle tasks such as testing potential pricing plans, managing the complexities of recurring payments and multiple payment methods, resolving payment processing issues and failed transactions without annoying customers—and perhaps most importantly, increasing overall customer lifetime value.
Meeting the Needs of Subscription Businesses
Vindicia, an Amdocs company, offers enterprise-class subscription management solutions that drive higher levels of customer acquisition, retention, and satisfaction for online businesses. Designed to support the entire subscription lifecycle, Vindicia cloud-based solutions help companies launch new subscription services, retain and grow the customer base, and maximize ongoing revenue and profitability—as well as delivering the back-office finance, tax, and anti-fraud automation that businesses expect from an enterprise-class solution.
What’s more, Vindicia believes that a subscription platform should pay for itself. That’s why their solutions automatically resolves failed transactions to retain subscribers longer. By combining big data analysis, strategic consulting and proprietary technology, Vindicia generates significant new revenue for its clients. Consumers today share, store, view and purchase goods and services in ways unimaginable before. Vindicia removes the barriers between the consumer and the goods and services they want. That's why the company’s client list reads like a who's who of subscription businesses.
Choosing the Right Solution
Vindicia offers two solutions: Vindicia® CashBox® is a complete subscriber acquisition, billing and retention solution. Vindicia Select™ is a customer retention solution that works with any existing billing system. Vindicia solutions were created from the premise that strategic monetization and billing are critical not just as operational necessities for successful online businesses, but also as a marketing resource that strengthens customer acquisition and retention.
Vindicia CashBox is the ideal choice for businesses that require an all-inclusive subscriber acquisition, monetization, billing, and retention solution. Provided as a comprehensive cloud-based solution, CashBox offers integrated marketing functionality and best practices to optimize customer retention, enhance acquisition rates, and minimize operational overhead.
Vindicia Select is designed for businesses that already have an efficient, agile billing system in place. It increases subscriber retention and drives higher revenue and customer lifetime value. By adding this noninvasive solution on top of an existing billing system, online businesses can dramatically reduce the involuntary churn caused by failed payment transactions.
The Importance of Staying Connected
Vindicia keeps consumers connected to the subscriptions they love, and businesses connected to the recurring revenue they need. In so doing, the company makes it easy to:
- Create agile, subscription-based and recurring revenue business models that respond to customer demand
- Maximize recurring revenue through pricing, packaging, bundling, campaigns and promotions
- Retain customers longer by implementing frictionless payment strategies and payment methods that reduce subscriber churn
In addition, the “Network Effect” of the company’s wealth of subscription transaction data combined with detailed, actionable business insights provide subscription businesses with a valuable window into trends and patterns across various online subsectors. In periodic business reviews, Vindicia clients benefit from the use of benchmarking and data-driven analysis to uncover opportunities to increase revenue.
“It's critical to get all the nuances right, and that's why we chose to work with Vindicia. We look to Vindicia to make sure our billing processes help us retain customers.” -Steven Sesar, Co-founder and COO, FreedomPop
“Vindicia Select was an easy choice. It delivered a compliant, secure way to address our need to reduce churn and improve retention. We didn’t need to change our existing processes and systems to get started….The Vindicia team was responsive and knowledgeable. - Aryeh Brickner, Vice President of Marketing, Consumer Apps, Perion Network
Meet the CEO
Kris Nagel is the CEO of Vindicia. Kris has 20 years of sales, sales management, and executive experience, providing organizational leadership in the enterprise software and telecommunications industries. He has extensive experience in the billing and customer care market including senior management positions with Portal Software and CSG Systems. Prior to joining Vindicia, Kris was the vice president of sales at Mu Security and SS8 Networks. He was also the vice president and general manager of the Americas for Portal Software. Kris began his career at Apple Computer and has also held sales and sales management positions at Traverse Networks and CSG Systems.
“Vindicia solutions were created from the premise that strategic monetization and billing are critical not just as operational necessities for successful online businesses, but also as a marketing resource that strengthens customer acquisition and retention.”