SOURCE: Vindicia
June 23, 2008 08:00 ET
Vindicia CashBox™ Billing Management System Supports Symantec Customer Renewals
REDWOOD CITY, CA--(Marketwire - June 23, 2008) - Vindicia, a leading provider of on-demand
payment management software, today announced that Symantec Corp. has
selected its Vindicia CashBox™ billing solution to manage the
subscription renewal operation for Symantec's Norton product line.
Symantec's Norton brand of award-winning consumer products is a market
leader in desktop protection for individual users, home offices and small
businesses.
Vindicia CashBox manages renewals for a number of software manufacturers
across 200 countries in North America, Europe, the Middle East, Latin
America and the Asia Pacific region, supporting operations in multiple
languages and currencies.
"With millions of consumers relying on Norton products to safeguard them
from online threats, our renewal process helps ensure that our customers
have the most up to date protection year after year," said Nat Maple, vice
president of consumer sales, Symantec. "Vindicia provides a fast and
convenient way for our customers to stay protected without any gaps between
expiration and renewal of products."
"For high-volume, subscription-based software businesses like Symantec,
Vindicia CashBox has proven its reliability in handling heavy transaction
volume and multi-tiered pricing models," said Gene Hoffman, chairman and
CEO of Vindicia. "An efficient billing process is central to generating
revenue and maintaining positive customer relationships. Improving monthly
retention by just a few percentage points can translate into an annual
compound increase in double digits."
For online merchants, the choice of billing system is a highly strategic
decision that is key to the success of their business. The billing process,
properly handled, can improve the customer experience and boost the bottom
line. However, implementing, managing and scaling a payment infrastructure
is not a core competency for most online businesses. The Vindicia solution
focuses on helping merchants maximize customer acquisition and retention
while providing them with the flexibility to fine-tune their business
models as customer needs dictate. Vindicia has handled over 41 million
transactions for its customers since January 2007 and over 20 million
accounts since its inception.
About Vindicia
Vindicia offers an integrated, on-demand billing and fraud management
solution for online merchants. Vindicia CashBox™ is a best-of-breed
billing system for creating and managing recurring and real-time payments
and helps merchants improve customer retention and maximize profit.
Vindicia ChargeGuard™ provides automated fraud screening and chargeback
management services that enable merchants to recover lost revenue. A PCI
Service Provider Level 1 company and SAS 70 Type 2 audited, Vindicia is a
key payment management resource for some of the best-known brands on the
Internet. For more information, visit www.vindicia.com.