Posted by eckoh at 4:42 PM on Sep 23, 2016

Strong Contract Momentum

We are pleased to announce further progress made since the half year results in November 2013. Two new three-year contracts have been secured and three significant clients have renewed their existing contracts.

The first contract, with an international telecommunications provider, will manage customers globally, implementing a range of services from Eckoh’s payment service portfolio to facilitate payments in multiple currencies and in multiple languages. These services will not only reduce the cost of collecting payments for the organization but will also ensure their payments are processed in a PCI DSS compliant manner. Eckoh’s long standing expertise in operating and managing services on an international basis was a significant factor in securing the contract.

The second contract, which was won following a competitive tender process, is with a leading payment service provider. As well as deploying a range of self-service applications to allow a greater proportion of customers to serve themselves, Eckoh will also be providing specialist contact center services from its operation in Hemel Hempstead.

Both of these agreements are expected to go live before the end of March 2014.

In addition, Eckoh has also successfully extended their contract with a significant organization in the transport sector until 2015. This contract is one of Eckoh’s largest and this latest extension will take the continuity of service to over a decade.

A three-year renewal has also been successfully achieved, following a competitive tender process, with one of the UK’s largest water utility companies, which also extends the relationship to over a decade. In addition, one of Eckoh’s other utility customers Utilita, who have been customers since 2010 and take a full multi-channel solution, has renewed their contract for a further 5 years. This is the third 5 year agreement that Eckoh has secured so far this year.

Nik Philpot, CEO at Eckoh, commented: “We are once again experiencing our traditional acceleration in sales activity in the second half of the financial year and we anticipate further new contract momentum before the end of the period. Having secured 100% of all contracts that have come up for renewal, we are continuing to demonstrate both the strength of our service offering and the significant progress made by the Group over the last 12 months. These latest renewals take the total number to 12 this year, more than 20% of Eckoh’s entire portfolio of customers. Our sales pipeline remains very strong and we would expect the growth in the business to continue, keeping us firmly in line with market expectations.”