HOLMDEL, N.J. - Vonage, a global cloud communications firm and subsidiary of Ericsson (BS:ERICAs) (NASDAQ: ERIC), has been honored with a Best of Enterprise Connect Award for its Vonage Protection Suite in the Best Innovation for Systems Management category. The accolade was presented during the annual Enterprise Connect event held from March 25 - 28, 2024, in Orlando, Florida.
The Vonage Protection Suite is a set of tools aimed at helping businesses combat online fraud and cyberattacks. It includes Vonage Fraud Defender, an alert and blocking solution; the Vonage Verify API, which offers omnichannel two-factor authentication (2FA); and Vonage Number Insight, providing real-time fraud assessment data.
Savinay Berry, EVP Product & Development at Vonage, expressed pride in the recognition, stating, "In an increasingly digital world, our customers' security needs continue to evolve. With Protection Suite, we are meeting this growing demand for better protection from fraudulent events."
Vonage's solutions are designed to integrate smoothly with existing communication platforms, offering features such as dashboard visibility into ongoing attacks, customizable automated actions, and SIM Swap Detection. The company's Verify API has been utilized by the online vintage retailer Vinted to enhance user authentication and reduce fraudulent transactions.
The Best of Enterprise Connect Awards Program distinguishes outstanding innovation and advancement in the enterprise communications and collaboration industry, with judges considering more than 30 entries based on technology advancement, innovation, and business impact.
Vonage's comprehensive communications platform enables the integration of various communication methods into business workflows, aiming to improve sales and customer satisfaction through AI-powered omnichannel experiences.
This news is based on a press release statement.
InvestingPro Insights
In light of Vonage's recent recognition at Enterprise Connect, investors and stakeholders in Ericsson (NASDAQ: ERIC) may find the following InvestingPro insights particularly relevant. Ericsson, as the parent company of Vonage, has been a prominent player in the Communications Equipment industry and has demonstrated a commitment to shareholder returns, having raised its dividend for 4 consecutive years and maintained dividend payments for 20 consecutive years.
InvestingPro Data shows that Ericsson has a market capitalization of $18.1 billion, with a notable dividend yield of 4.67% as of the last twelve months ending Q4 2023. The company's revenue in the same period was reported at $26.115 billion, although it experienced a revenue decline of 3.02% from the previous year. Despite facing challenges, analysts predict that Ericsson will return to profitability this year, which could be a positive indicator for future financial performance.
For investors seeking more in-depth analysis, there are additional InvestingPro Tips available, including insights into Ericsson's debt levels, price volatility, and earnings revisions. Specifically, the company operates with a moderate level of debt and generally trades with low price volatility. However, it's important to note that 4 analysts have revised their earnings downwards for the upcoming period. These tips can help investors gauge the company's stability and future prospects.
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