Evergent, a customer management firm serving digital subscription businesses, has debuted a new product suite designed to help brands reduce churn.
The new offering, the Evergent Captivate Product Suite, is backed by AI. It is designed to combat the two main forms of churn: voluntary, when a person cancels the service, and involuntary, which occurs when the system cancels the service if it is unable to collect payment.
Evergent cites research from PYMNTS showing that 24% of recurring payments fail because of credit card failures. But 88% of those are recoverable, the firm contends.
According to the company, The Evergent Captivate Product Suite includes the following tools:
“The economic landscape for global consumers has changed forever, and subscriptions now command a substantial part of the monthly budget,” says Vijay Sajja, founder and CEO of Evergent. “Companies providing subscription services are competing for wallet share, and customer retention is key for long-term survival.