SOURCE: ServiceSource International, Inc.
SAN FRANCISCO, CA--(Marketwire - Jun 27, 2012) - ServiceSource® (NASDAQ: SREV), the global leader in Service Revenue Management, today announced a partnership with FrontRange Solutions, a leading provider of Service Management and Client Management solutions for on-premise and cloud IT operations. An end-to-end ServiceSource solution will be implemented to increase the renewal of all FrontRange service revenues worldwide and to provide FrontRange with new data about its existing customers.
The comprehensive ServiceSource solution will be employed to increase the renewal of recurring service revenues FrontRange earns from its traditional premise-based customers and its rapidly growing portfolio of cloud-based customers. To drive high performance, FrontRange will use the ServiceSource cloud-based application suite, customer analytics and channel management capabilities, supported by a dedicated ServiceSource sales team.
FrontRange, with its suite of HEAT IT Service Management (ITSM) solutions, enables companies to deliver world-class service while maximizing operational efficiencies with reduced cost and complexity. Preparing for future growth, the company continuously looks for ways to deepen customer intelligence, improve the channel renewal sales process and support its move to deliver more of its offerings as-a-service to customers.
"FrontRange works with some of the biggest brands in the world. We are uniquely positioned to accelerate our growth through the delivery of our next generation suite of IT service management applications," said Steve Lindeman, Senior Vice President of Global Support and Services for FrontRange. "To support this growth we need to better manage and optimize our recurring revenue streams and to gain deeper insight into the usage profiles of our installed base customers. We believe ServiceSource will be able to help us in both of these critical areas."
ServiceSource will support all FrontRange service renewals for accounts around the world. The dedicated team of ServiceSource sales professionals will not only renew maintenance and support contracts, but will also look to create new professional services and educational training opportunities for FrontRange. The solution for Front Range is designed around the Service Revenue Intelligence Platform, which features Analytics Cloud and Channel Sales Cloud® applications.
"There is an undeniable move in the industry toward the delivery of more business critical functions as-a-service. Both FrontRange and ServiceSource have embraced this shift," said Mike Smerklo, Chairman and Chief Executive Officer of ServiceSource. "This evolution opens up opportunities for new recurring revenue streams and the need for a Service Revenue Management solution to increase renewal rates and to deliver powerful, usable intelligence about a company's installed base."
For more information on ServiceSource, please see www.servicesource.com.
About FrontRange Solutions
FrontRange is a leading provider of IT Service and Client Management solutions. These solutions enable IT transformation by providing enterprise-class capabilities that deliver fast time to benefit, high ease of use, and rapid return on investment. With an award-winning tradition and recognized as a leader by industry analysts, FrontRange's products and solutions are used by over 13,000 customers in more than 80 verticals and 45 countries to quickly improve interactions with external and internal clients and achieve better business results. For more information, call 800.776.7889, visit www.frontrange.com or follow us @FrontRange on Twitter.
About ServiceSource, Inc.
ServiceSource is the global leader in service revenue management, partnering with technology-based companies to optimize maintenance, support and subscription revenue streams, while also improving customer relationships and loyalty. ServiceSource helps customers increase service revenue contract renewal rates, on average, by over 15 percentage points and, in some cases, up to 44 percentage points. ServiceSource delivers these results via a cloud-based solution, combining its Service Revenue Performance Suite™ of applications with dedicated service sales teams, leveraging a proprietary Service Revenue Intelligence Platform™ of transaction data, benchmarks and best practices. ServiceSource offers its service revenue management solution on a unique pay-for-performance business model that enables a success-driven, shared-risk partnership. The Company is headquartered in San Francisco, and manages service revenue performance for customers across the globe in more than 35 languages.
ServiceSource and any ServiceSource product or service names or logos above are trademarks of ServiceSource International, Inc. All other trademarks used herein belong to their respective owners.
For more information on ServiceSource, visit http://www.servicesource.com. To connect with ServiceSource, visit us on Twitter, Facebook, LinkedIn and YouTube.
This press release contains forward-looking statements, including statements regarding our ability to improve the renewal rates and revenue results of our customers and the overall benefits of our cloud applications. These forward-looking statements are based on the Company's current assumptions and beliefs, and involve risks and uncertainties that could cause our results to differ materially from those expressed or implied in our forward-looking statements. Those risks and uncertainties include, without limitation, changes in market conditions that impact our ability to generate service revenue on our customers' behalf; errors in estimates as to the renewal rate improvements and/or service revenue we can generate for our customers; risks associated with material defects or errors in the Company's software or the effect of data security breaches; our ability to adapt our solution to changes in the market or new competition; our ability to protect our intellectual property rights; general political, economic and market conditions and events; and other risks and uncertainties described more fully in our periodic reports and registration statements filed with the Securities and Exchange Commission, which and can be obtained online at the Commission's website at http://www.sec.gov. All forward-looking statements in this press release are based on information currently available to us, and we assume no obligation to update these forward-looking statements.