Significant Cloud Contract Win for Eckoh

News & Insights

9 Nov 2021

Eckoh's largest ever global, cloud secure payments win, providing services globally to a major food and drink company

- Strong demand from leading, global brands for Eckoh's patented technology
- Minimum $1.5m value for three years; total value likely to be higher

Eckoh has won a significant contract with a leading global food and drink company. The Company will provide Secure Payments services to the new client's global contact center operations from its cloud platforms.

The three-year contract was won following a successful competitive tender process and is worth a minimum of $1.5m. There is an expectation that the deal will exceed this total value, and there will be the opportunity to upscale the relationship significantly. The Client's US operation will first deploy the solution before rolling it out to 28 other countries over the contract term. This contract will help support the forecast growth in the next financial year and beyond.

This contract is Eckoh's largest-ever win for a cloud solution delivered into multiple territories. We expect to see more global procurement contracts like this for cloud delivery, as major enterprises seek to uphold rigorous security standards consistently across all of their regions.

Eckoh's payments solution CallGuard, will be delivered using its patented tokenisation process and integrated directly with the client's payment service provider. Eckoh is unique in its ability to deploy a solution that fits around the client's existing processes, tools and environments, rather than needing the client to adapt to accommodate the solution. Contact center agents will use Eckoh's new CallGuard Agent Control Panel to take the caller through the payment process. The panel provides intelligent assistance to the agent in their local language to ensure the process is as frictionless as possible, reducing call handling time and improving customer satisfaction.

As previously highlighted, Eckoh continues to invest in its global cloud platforms to capitalize on the growing market opportunity identified. This contract win underlines Eckoh's strategic vision and technical expertise in developing a market-leading solution to leverage that additional capability. The solution is expected to go live early in the next financial year and, in line with other cloud contracts, will deliver higher levels of recurring revenue and margin.

Nik Philpot, Chief Executive Officer at Eckoh, commented:
"We're delighted to have been chosen to provide a critical security solution to such a well-known brand, securing our largest ever global cloud secure payments win. Our success reflects three key factors - first, our expertise in delivering successful enterprise-level deployments across multiple geographies in the cloud. Second, the reassurance we offer clients as a growing and profitable listed Company with a strong balance sheet. And thirdly, that Eckoh offers proven patented solutions.

We expect our ongoing investment in cloud platforms and continued innovation in our security offering will maintain Eckoh's position as the market leader in the fast-growing data and payments security market for the customer engagement industry."