Amdocs (NYSE:DOX), the leading provider of customer experience systems, recently unveiled a new program called Open Innovation at an event held in Silicon Valley. Open Innovation's goal is to foster new ideas and collaboration between Amdocs and startup companies in the communications industry. The program also benefits Amdocs' customers -- many of whom are the world's leading service providers -- by providing a forum for innovation as service providers address business and technology challenges as the industry evolves.
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The Open Innovation program consists of three areas: Amdocs Ascend! - A startup partnership program focused on creating new solutions by combining external innovation with Amdocs products and services. Amdocs seeks to develop partnerships that complement the Amdocs CES (customer experience systems) portfolio. Amdocs Engage! A business development program promoting business opportunities between Amdocs, service providers and startup companies, through which Amdocs offers selected companies a discussion channel with its global customer base. Amdocs venture is a program focused on investments in carefully selected startups. "Amdocs is now a well-established leader in the industry; however, we were once a startup too. When we look back, we recall how innovation, often introduced by our employees, played a role in our success," said Seth Nesbitt, vice president of product and solutions marketing for Amdocs. "The Open Innovation program honors Amdocs' deep heritage in innovation, and offers us an opportunity to foster the startup community that will inevitably help shape the future of the industry.” At the Amdocs hosted event taking place today, venture capitalists and startups will hear from Amdocs executives about the marketplace's most pressing needs and areas for potential partnership. In addition, attendees will learn how to participate in the program and how they can benefit from Amdocs' global expertise. While Amdocs is announcing the Open Innovation program today, it holds long-standing relationships with the startup community. Currently, there are more than 100 startup companies participating in the program, with a range of focus from customer experience optimization and mobile applications, to television/converged platforms and applications. Amdocs is the market leader in customer experience systems innovation, enabling world-leading service providers to deliver an integrated, innovative and intentional customer experience(TM) at every point of service. Amdocs provides solutions that deliver customer experience excellence, combining the software, services and expertise to help its customers execute their strategies and achieve service, operational and financial excellence. A global company with revenue of $3.16 billion in fiscal 2008, Amdocs has approximately 17,000 employees and serves customers in more than 50 countries around the world.
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