FOR IMMEDIATE RELEASE
VOZIQ AI Launches AI-Powered Predictive Price Increase Solution for Subscription Businesses
About VOZIQ AI
Reston, VA, February 8, 2023: VOZIQ AI, one of the leading providers of Predictive Customer Intelligence Solution, is excited to announce the launch of its new AI-powered Predictive Price Increase Solution for subscription businesses. The solution is designed to help subscription businesses increase recurring subscription revenue and improve margins by accurately predicting customers who are most likely to accept the price increase, upsell, upgrade, or cross-sell offers.
The Predictive Price Increase Solutionis built on VOZIQ AI’s enterprise AI platform and uses advanced machine-learning algorithms to analyze a wide range of data, including previous contact center interactions, payment history, products purchased, usage history, tenure, and contract status to determine the best price-increase option for each customer. It also leverages VOZIQ AI enrichments that include third-party data sources to increase the accuracy and actionability of its recommendations. The solution takes into account the unique characteristics of subscription businesses, such as recurring revenue and customer churn, to ensure that prices are set at a level that maximizes revenue while minimizing customer churn.
"We're thrilled to be launching Predictive Price Increase Solution, which represents a major step forward in helping subscription businesses protect and grow their subscription revenue," said Dr. Vasudeva Akula, CEO of VOZIQ AI. “The solution allows businesses to automate their pricing decisions with the help of artificial intelligence and increase revenue while minimizing worry associated with adverse effects of the price increase.”
Predictive Price Increase Solution is fully integrated with VOZIQ AI's enterprise AI platform, which provides a ready-to-go environment for launching high-performance, AI-enabled solutions, minimizing the need for internal resources. The platform also makes it easy for businesses to set their own pricing rules and parameters and align the solution to their exact needs.
"With the current macroeconomic environment, subscription businesses are under pressure to protect and grow revenue. For sailing through these troubled waters, it is more important than ever to have a price optimization strategy that is data-driven and flexible,” said Brandon Savage, Head of Solution Enablement at VOZIQ AI. “VOZIQ AI’s solution not only reduces unwanted churn associated with price increases with a smarter AI-powered decisioning engine, but it also frees up internal resources with automation.”
VOZIQ AI is a leading provider of AI-powered Customer Intelligence Solution to recurring revenue, subscription businesses of all sizes around the world. These innovative solutions leverage the power of artificial intelligence and proprietary machine learning models to enable these businesses to run data-driven campaigns to reduce customer churn, increase subscription revenue, improve NPS, and maximize customer lifetime value (CLV).