TORONTO, Oct. 19, 2016 /CNW/ - Redknee Solutions Inc. (TSX: RKN), a leading provider of real-time monetization and subscriber management software, is pleased to announce that it was recognized as one of the top four convergent billing vendors in the world, following the release of Analysys Mason's Revenue Management Systems Market Share Report for 2015. The report highlights Redknee's strong growth in the last year, as Redknee increased its market share of the global product-related convergent billing market. The annual publication tracks the market share of communication service provider spending on telecom specific revenue management software systems and related services. The revenue management market consists of postpaid and prepaid billing, convergent billing, mediation, policy management, partner and interconnect systems and was valued at USD 6.3 billion in 2015. Convergent systems account for the second largest services spend of CSP's in the revenue management segment.
Communications service providers face growing competition and increasing levels of data consumption, their ability to quickly bring new and tailored offerings to market is essential to remain competitive and generate sustainable business growth and profitability. Analysys Mason reports that the convergent billing market exceeded its growth estimates in 2015. Demand is driven by the number of service providers undertaking transformation projects and consolidating their billing systems to improve their ability to react to market conditions, including the digital economy. The Analysys Mason report suggests that digital transformation and the digital economy are amongst the top three most important business environment factors in global revenue management market. Redknee's strong market share reflects strong and continuing demand for its agile end-to-end converged billing solutions able to monetize new revenue streams, support new and existing business models and deliver a consistent omni-channel experience in telecommunications and other vertical industries.
John Abraham from Analysys Mason commented:
"Analysys Mason continues to see a strong shift in CSP business models resulting in transformation projects and demand for convergent systems. As CSPs evolve their service offerings to include a growing number of digital services, Redknee has increased its market share in convergent billing systems."
Lucas Skoczkowski, Redknee's CEO commented:
"We are proud to be recognized as one of the top four convergent billing vendors in the world, especially as we have seen Redknee's strong product and project execution continue to be chosen by communication service providers (CSP) in their transformations to digital service providers. We continue to invest in Redknee product platform and cloud service offerings, and we remain committed to deliver world-class monetization solutions capable of supporting any business model and new innovative service offerings that are driven by modern subscriber preferences and changing consumption patterns. Redknee looks forward to continuing to grow its market share in the convergent billing market, while continuing our customer-for-life commitment that we are recognized for."
Redknee monetizes today's digital world. We provide a complete portfolio of mission-critical monetization and subscriber management solutions and services that allow communications service providers, utility companies, auto makers and enterprise businesses of all types to charge for things in new and innovative ways. Redknee's real-time billing, charging, policy and customer care offerings provide the agility and scalability to drive a unique user experience, increase profitability and support any new product or business model. Available on premise, cloud-based, or as a Software-as-a-Service, Redknee's low-risk, flexible solutions power more than 250 businesses across the globe. Established in 1999, Redknee Solutions Inc. (TSX: RKN) is the parent of the wholly-owned operating subsidiary Redknee Inc. and its various subsidiaries. References to Redknee refer to the combined operations of those entities. For more information about Redknee and its solutions, please go to www.redknee.com.
SOURCE Redknee Solutions Inc.
For further information: Redknee Solutions: Michaela Radman, Head of Marketing and Corporate Communications, [email protected], +1 905 625 2190; Investor Relations: Lawrence Chamberlain, NATIONAL | Equicom, T: (416) 848-1457, [email protected]