Summary: We initiate coverage of Evergent in Agile Billing with an MGI 360 Rating of 60 and a POSITIVE analyst outlook. Its primary focus is on helping media and specifically OTT (over-the-top) streaming providers manage customer acquisition, authentication, on-boarding, invoicing, and loyalty management. The solution is packaged and priced in a manner complementary to the media companies (per subscriber seat per month) and can be sourced in a pricing approachable for non media companies. Evergent has demonstrated high agility and capability to scale on volume. There are numerous customer proof points of rapidly modeling and implementing complex use case scenarios at scale – with tens of millions of subscribers. Of the suppliers evaluated in the MGI Top 50 Buyers Guide, Evergent has the strongest financial model in terms of topline growth, client retention, balance sheet quality and margins. Challenges include the need for investment in product marketing, addition of functional capability in complex usage billing and expansion of its management team. Evergent is viewed as representing very high value for relatively low investment – a solution that can be implemented and maintained without third-party consultants. The Evergent team has experience deploying monetization across a range of volumes and business model complexities, and the sweet spot is in above-average volume/complexity and medium-to-high agility requirements. With deep domain expertise, the company understands the demands of emerging growth and established global organizations with sophisticated business and IT requirements.
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Competitors: Amdocs, Aptitude, Cleeng, CSG, Recurly, SAP, Vindicia, Zuora
