Jersey City, NJ — August 3, 2022 — Amdocs (NASDAQ: DOX), a leading provider of software and services to communications and media companies, today announced its collaboration with ACI Worldwide (NASDAQ: ACIW), a leader in mission-critical, real-time payments software, to integrate Amdocs' Vindicia capabilities with ACI Speedpay.
The agreement between Amdocs and ACI Worldwide will enable subscription merchants to integrate a turn-key solution to reduce time-to-market, improve retention, decrease costs and simplify subscription management. The solution includes customer identity management, customer engagement, subscription management, fraud and risk management tools, passive churn solutions and a global payments footprint that enables omni-commerce payments.
UBS expects the subscription economy to expand into a USD 1.5 trillion market by 2025, implying an average annual growth rate of 18%. Over the long run, they expect subscriptions as a trend to broaden and gather significant traction in emerging markets.
Sanjay Gupta, Head of Biller Segment, ACI Worldwide, said: "As the subscription economy grows exponentially, an integrated solution that helps subscription businesses boost retention efforts and capture more revenue is more important than ever. We're happy to work with Amdocs' Vindicia to provide the most innovative approach possible for subscription merchants."
Anthony Goonetilleke, Group President of Technology and Head of Strategy, Amdocs, said: "The subscription industry continues to grow, fueled by diversification of services ranging from automotive to digital, to consumer goods and beyond. This collaboration with ACI Worldwide brings together a robust set of capabilities to create an improved experience for subscription businesses while simplifying operations."
Amdocs and ACI Worldwide will be attending PaymentsEd in Washington, DC, August 8-10.
Amdocs helps those who build the future to make it amazing. With our market-leading portfolio of software products and services, we unlock our customers’ innovative potential, empowering them to provide next-generation communication and media experiences for both the individual end user and enterprise customers. Our 31,000 employees around the globe are here to accelerate service providers’ migration to the cloud, enable them to differentiate in the 5G era, and digitalize and automate their operations. Listed on the NASDAQ Global Select Market, Amdocs had revenue of $4.3 billion in fiscal 2021. For more information, visit www.amdocs.com.
Amdocs’ Forward-Looking Statement
This press release includes information that constitutes forward-looking statements made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995, including statements about Amdocs’ growth and business results in future quarters. Although we believe the expectations reflected in such forward-looking statements are based upon reasonable assumptions, we can give no assurance that our expectations will be obtained or that any deviations will not be material. Such statements involve risks and uncertainties that may cause future results to differ from those anticipated. These risks include, but are not limited to, the effects of general economic conditions, Amdocs’ ability to grow in the business markets that it serves, Amdocs’ ability to successfully integrate acquired businesses, adverse effects of market competition, rapid technological shifts that may render the Company's products and services obsolete, potential loss of a major customer, our ability to develop long-term relationships with our customers, and risks associated with operating businesses in the international market. Amdocs may elect to update these forward-looking statements at some point in the future; however, the Company specifically disclaims any obligation to do so. These and other risks are discussed at greater length in Amdocs’ filings with the Securities and Exchange Commission, including in our Annual Report on Form 20-F for the fiscal year ended September 30, 2021 filed on December 10, 2021, and our Form 6-K furnished for the first quarter of fiscal 2022 on February 14, 2022 and for the second quarter of fiscal 2022 on May 24, 2022.
Amdocs Public Relations
PAN Communications for Amdocs