COCC Strengths, Domain Expertise, and Key Differentiators
COCC provides data processing and outsourcing services, and banking applications for financial institutions in the Northeast. COCC offers TotalVision, a business intelligence suite; CRM Pathfinder, a customer relationship management tool; Net core processing for relationship building; Oracle General Ledger, which provides automated enterprise accounting for financial institutions; business process management solutions; and sentry risks management solutions, such as anti-money laundering, secure Internet, OFAC FinCEN compliance, and automated software patching.
COCC Recent Developments
In June 2020, COCC and Central Connecticut State University launched a joint continuing education program designed specifically for COCC employees. The program, known as Corporate Leadership Development (CLD), gives COCC employees the unique opportunity to enroll in CCSU’s Official Certificate Program in Business Leadership, taking graduate-level courses directly applicable to their COCC career with all tuition expenses fully funded by COCC.
In the same period, COCC In its continued effort to provide creative technology solutions to its clients to help manage the unprecedented operating activity surrounding the COVID-19 pandemic, COCC launched a specialized module to facilitate Paycheck Protection Program (PPP) loan forgiveness. Using COCC’s proprietary loan origination solution, LoanWriter, as the underlying software to support the initial PPP loans, COCC built an additional module that replicates all the components and requirements of the Small Business Administration’s (SBA’s) forgiveness application in a digital format.
COCC Customers in ARTW Customer Database
Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying COCC applications and why? And we provide the answers – supported by decades of research – to our clients around the world. Our Customer database has over 100 data fields that detail company usage of COCC and other enterprise apps by function, customer size, industry, location, implementation status, partner involvement, Line of Business Key Stakeholders and IT decision makers contact details. List of Verified COCC customers.
Ownership: - x
Number of Employees: 700
Key Verticals: Banking and Financial Services,
COCC Key Enterprise and Cloud Applications
COCC Revenues, $M:
|Type/Year||2019||2020||YoY Growth, %|
|Total Revenues, $M||Subscribe||Subscribe||Subscribe|
|Enterprise Applications Revenues, $M||Subscribe||Subscribe||Subscribe|
|Cloud Applications Revenues, $M||Subscribe||Subscribe||Subscribe|
* Enterprise Applications Revenues = License + Support & Maintenance + SaaS
** All revenue figures are estimates based on public records, Cloud and Non-Cloud business models in Apps Run The World's vendor database, and annual survey results including vendor feedback.
COCC Revenue Breakdown By Type, $M:
|Type||License||Prof. Services||Hardware||Support & Maintenance||SaaS||PaaS||IaaS||Other (Non Enterprise Application Revenues)||Total|
|% of Total Revenues||Subscribe||Subscribe||Subscribe||Subscribe||Subscribe||Subscribe||Subscribe||Subscribe||100%|
COCC Enterprise Applications Revenues By Functional Markets, $M:
COCC Enterprise Applications Revenues By Verticals, $M:
COCC Revenues By Region, $M
|Region||% of Total Revenues||2020 Total Revenues, $M||2020 Enterprise Applications Revenues, $M||2020 Cloud Applications Revenues, $M|
COCC Direct vs Indirect sales
|Region||Direct Sales||Indirect Sales||Total|
COCC Customers - Breakdown by Geo, Size, Vertical and Product
No. of COCC Customers: 200
No. of COCC Enterprise Applications Customers: 200
No. of COCC Cloud Customers: x
No. of COCC Cloud Subscribers: 1.3 Million
Among COCC customers are GSL Savings Bank, Salisbury Bank, CNB Bank, First Citizens' Federal Credit Union, First County Bank, BayCoast Bank, GFA Federal Credit Union, New England Bank, HarborOne Credit Union, Polish National Credit Union, United Bank, National Iron Bank, BankNewport, Loan Origination, City of Boston Credit Union, Easthampton Savings Bank, GFA Federal Credit Union, Lake National Bank, Washington Trust, North Country Savings Bank, Needham Bank, Westfield Bank, NewportFed, Litchfield Bancorp, Northwest Community Bank, Mercantile Bank, Savings Institute, and others.
COCC Market Opportunities, M&A and Geo Expansions
"In November 2020, COCC declared that Matthew Sosik has been elected to the Cooperative’s Board of Directors. Mr. Sosik is the Chief Executive Officer for Hometown Financial Group, a $3.4 billion mutual multi-bank holding company based out of Easthampton, MA. He also serves as President and CEO of bankESB, a subsidiary of Hometown Financial Group and a COCC member institution. As a member of our Board, Mr. Sosik will serve on the Personnel and Planning & Finance Committees. He is one of nine COCC client CEOs to sit on the Board of Directors. Richard A. Leone, CEO of COCC, is the tenth member of our Board.
COVID-19 has changed the way many businesses operate and COCC has not been immune to this uncertainty. While 2020 has proven to be anything but business as usual, COCC's entire organization has been hard at work, utilizing remote technology and demonstrating incredible teamwork to fuel COCC’s growth with new core signings. Within the first six months of 2020, COCC has signed six new core clients, each from six different states. The six new signings include financial institutions headquartered in Massachusetts, New Jersey, New York, Ohio, Pennsylvania, and Rhode Island."
COCC Risks and Challenges
Expanding outside of the USA could be a challenge for COCC.
COCC Ecosystem, Partners, Resellers and SI
COCC does most of its sales via its own Direct Salesforce. In addition, COCC has strategic partnerships with Oracle, Digital Compliance, FIS, Financial Services, ACI Worldwide, Bankers' Bank Northeast, Comcast Business, Vanguard Software Group, Ion Bank, Fairfield County Bank, SNL Banker, Fiserv, Ensenta, Numerated and many others.
COCC Cloud Infrastructure Insights
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- COCC Public Cloud and Infrastructure (IaaS)
- COCC Platform (PaaS)
- COCC Application Delivery
- COCC Private Cloud and Data Centers
Data used in research reports are derived from publicly available documents, continuous surveys of applications vendors, customers, resellers, Independent Software Vendors, systems integrators and other verifiable sources.
Vendor shares and market forecast results are based on a combination of existing databases as well as demand side and supply side research conducted throughout the year with validation from vendors, customers, channel partners and documentations such as earnings releases and 10Q and 10K filings, vertical industry studies, regional and country-level statistics from public and private institutions(i.e. colleges, universities, government agencies and trade associations).
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