shares in this article
Business relationships to support planned Brightspeed fiber deployments in 20 states
Long-term agreement with InterconnectNOW and Financial Analytics
coordinate service requests and manage the expenses of business partners
BRIDGEWATER, NJ, May 11, 2022 (GLOBE NEWSWIRE) – Synchronoss Technologies Inc. (“Synchronos” or “Company”) (Nasdaq: SNCR), a leading global innovator in the field of cloud, messaging, and digital products and platforms, announced today that it has signed a multi-year deal with Brightspeed, a broadband and telecommunications provider set to operate in 20 United States. Brightspeed will initially consist of the assets of the incumbent Local Exchange Operators (ILEC) and related Lumen Technologies (NYSE: LUMN) operations that will be subject to the impending acquisition by Apollo managed funds (NYSE: APO).
Brightspeed will use two key modules of the Synchronoss networkX platform, InterconnectNOW (iNOW) and Financial Analytics (FA) for planned fiber deployments in the multi-state, rural and suburban US territory.
Brightspeed previously announced that it plans to invest over $ 2 billion in building a network that will provide faster and more reliable Internet and WiFi to communities across the Midwest, Southeast, and parts of Pennsylvania and New Jersey. The company’s planned fiber transformation is expected to affect up to three million homes and businesses over the next five years, including many locations where fiber and advanced technologies have not been used in the past.
“As Brightspeed continues to expand its fiber network, iNOW and Financial Analytics will be an integral part of managing the carrier’s wholesale business,” said Chris Hill, Chief Commercial Officer at Synchronoss. “Automating and organizing orders throughout the entire lifecycle will enable Brightspeed to keep up with customer requests and realize revenues faster.”
“Our partnership with Synchronoss gives us access to the company’s state-of-the-art platforms to achieve exceptional efficiency in managing our wholesale carrier orders and trading partner transactions,” said Chris Creager, director of administration at Brightspeed. “INOW will enable us to track orders from start to finish and help us deliver best-in-class connectivity products and services to the communities we passionately serve.”
The iNOW platform eliminates manual processing of service orders and manages the entire life cycle between customer and supplier through automation and rule-based validation. Provides a single interface and database for all buyer and vendor orders, making it easy to track orders from receipt to fulfillment, reconcile invoices and deliver reports in real time, accelerating time to revenue.
The financial intelligence platform streamlines the management of complex settlements with carriers thanks to automated workflows and intuitive engines of rules for auditing, accounting, validation and payment of bills. FA equips service providers such as Brightspeed with the necessary tools and processes to ensure that costs between carriers are thoroughly analyzed and verified prior to payment.
Leading service providers around the world use Synchronoss and the iNOW platform to manage 39 million orders and transactions annually from 5,000 integrated operators.
Synchronoss Technologies (Nasdaq: SNCR) creates software that enables businesses around the world to connect with subscribers in a trusted and meaningful manner. The company’s product collection helps streamline networks, simplify onboarding, and engage subscribers to create new revenue streams, reduce costs, and shorten time-to-market. Hundreds of millions of subscribers trust Synchronoss products to stay in sync with the people, services and content they love. That’s why more than 1,500 talented Synchronoss employees around the world strive to redesign the synchronous world every day. Find out more atwww.synchronoss.pl
Brightspeed is headquartered in Charlotte, North Carolina (USA) and is expected to have facilities and related operations in 20 states. Brightspeed will deliver broadband and telecommunications services through a network platform capable of serving more than six million homes and businesses. The company is committed to bridging the digital divide by providing a state-of-the-art fiber network and customer service that makes it easy and hassle-free to stay connected. Find out more atwww.brightspeed.com.
Contact with the media:
Contact for investors:
Matt Glover / Tom Colton
Gateway Group, Inc.
Contact with the media:
Joele Frank, Wilkinson Brimmer Katcher
+1 (212) 355-4449
The leverage must be between 2 and 20