SOURCE: ServiceSource

ServiceSource

September 21, 2011 09:52 ET

GE Healthcare Partners With ServiceSource International to Drive Long Term Vision for Transformation of Its Renewals Process

Partnership Between GE and ServiceSource Deployed in 45 Days Across 10 Countries and in 5 Languages

SAN FRANCISCO, CA--(Marketwire - Sep 21, 2011) - ServiceSource® (NASDAQ: SREV), the global leader in cloud-enabled service revenue management, today announced that GE Healthcare (NYSE: GE) has partnered with ServiceSource across Asia-Pacific to drive service contract renewals for both small and large scale medical equipment. This partnership involves mobilizing highly specialized staff members across 3 regions and 10 countries in 5 languages.

"ServiceSource's focus on data quality, reporting and sales discipline will provide us with increased visibility and clarity into our business," said Sven Henrichwark, general manager, Asia Pacific, GE Healthcare Services. "By working closely with GE sales professionals, ServiceSource will help drive increased revenue performance across the region."

With the healthcare industry experiencing significant growth in Asia, GE Healthcare was looking for a strategic partner to help it derive maximum services revenue from this important region. Supporting a broad range of medical technologies, including monitoring devices, life support systems, ultrasound, X-ray and sophisticated CT equipment, ServiceSource has implemented an end-to-end solution that incorporates a suite of cloud applications and a specialized sales team to complement GE's own professional sales force. All of this is done on a pay-for-performance, variable cost model and was launched in a rapid, forty-five day timeframe.

"There is nothing more satisfying than helping a partner like GE Healthcare achieve stellar results," said Mike Smerklo, chief executive officer of ServiceSource. "Using a combination of cloud-powered services, including customer reporting and business intelligence solutions, and a highly skilled team of salespeople, GE can more effectively manage its recurring service revenue and customer satisfaction throughout the APJ region."

About GE Healthcare
GE Healthcare provides transformational medical technologies and services that are shaping a new age of patient care. Our broad expertise in medical imaging and information technologies, medical diagnostics, patient monitoring systems, drug discovery, biopharmaceutical manufacturing technologies, performance improvement and performance solutions services help our customers to deliver better care to more people around the world at a lower cost. In addition, we partner with healthcare leaders, striving to leverage the global policy change necessary to implement a successful shift to sustainable healthcare systems.

Our "healthymagination" vision for the future invites the world to join us on our journey as we continuously develop innovations focused on reducing costs, increasing access and improving quality around the world. Headquartered in the United Kingdom, GE Healthcare is a unit of General Electric Company (NYSE: GE). Worldwide, GE Healthcare employees are committed to serving healthcare professionals and their patients in more than 100 countries. For more information about GE Healthcare, visit our website at www.gehealthcare.com.

About ServiceSource
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, over 40 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.

Forward-Looking Statements
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 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.

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