SOURCE: ServiceSource

ServiceSource

October 04, 2011 09:00 ET

ServiceSource Announces New Analytics Cloud Complete With Metrics That Matter to Increase Actionable Intelligence and Drive Recurring Revenue Performance

ServiceSource Analytics Cloud Provides Real-Time Access to Critical Service Renewal KPIs With the Industry's Most Robust Reporting Tools and Easy to Use Interface

SAN FRANCISCO, CA--(Marketwire - Oct 4, 2011) - ServiceSource® (NASDAQ: SREV), the global leader in service revenue management, today announced the availability of the Fall 2011 Release of the Analytics Cloud, the most robust application for helping organizations provide powerful insight into their entire ecosystem of recurring service revenue.

In a world where the profitable annuity of recurring revenue is critical to the growth of every technology-enabled business, having real-time information, analysis and insight is paramount to understanding the global performance of service renewals and building a resilient business, especially in a challenging economic environment.

The ServiceSource Analytics Cloud allows organizations to quickly access and share global performance dashboards across all business lines, providing reliable forecasting and reporting on all outstanding and future renewal opportunities and sharing historical renewal information with real-time graphs and charts.

"At Pitney Bowes, customer satisfaction and loyalty is core to our overall business success, and a leading indicator of that success is directly correlated to our support renewal rates," said Ben Semmes, COO of Pitney Bowes Business Insight. "The new ServiceSource Analytics Cloud has enabled us to achieve clear, real-time global visibility into customer behavior regarding renewals, all from a powerful and easy to use cloud application. With ServiceSource, I feel we can make more informed decisions on how to best invest in our customers."

"We are thrilled to bring the Fall 2011 Release of the Analytics Cloud to our customer base and partners," said Mike Smerklo, chief executive officer, ServiceSource. "It is no longer acceptable to be 'good enough' when it comes to tracking, analyzing, optimizing and sharing recurring revenue data across the renewals ecosystem. The Analytics Cloud brings 21st century technology and a consumer-grade experience to service revenue management analytics and facilitates greater insights and actions into the most critical points of the renewals process. It also provides a foundation for ServiceSource to launch and monetize future advanced reporting capabilities."

The Analytics Cloud features a host of new and updated capabilities, including:

  • Enhanced consumer grade user experience
  • User defined preferences
  • Standard reports based on service revenue management best practices
  • New service revenue performance KPIs and metrics
  • New and enhanced dashboards
  • Customized search
  • Enhanced user management
  • Optimized cloud application performance and reliability

The Analytics Cloud is powered by the Service Revenue Intelligence Platform™, which aggregates transactional, analytical and industry data from over two million service renewal transactions and over 14 million hardware and software assets under management. It embodies ServiceSource's unique experience from over a decade and 100+ customer engagements and benchmarks. This platform provides a foundation of comparative analytics that allows ServiceSource to compare customer performance and behaviors with best practices for similar companies, go-to-market models, market segments and geographies. This allows ServiceSource to work with its customers to identify and set world-class performance standards to optimize service revenue on a pay-for-performance basis.

Cloud innovations like the ServiceSource Analytics, as part of the Service Revenue Performance Suite, marks a new class of solutions that solve for the difficult challenge most technology-enabled companies face in optimizing recurring revenue and customer satisfaction from their maintenance, support and subscription renewals business. A new white paper by IDC, titled Optimizing the Recurring Revenue Stream, reveals our large and emerging technology solutions category, called Service Revenue Management (SRM). IDC's research uncovers and articulates the challenges companies are facing, including poor installed-base data quality and insights, inadequate investments in purpose-built technology to effectively manage the renewals process and a glaring lack of internal service sales expertise and focus. These shortcomings in implementing an SRM solution can lead to leaving millions on the table as well as an erosion of end-customer satisfaction and loyalty to a vendor's technology solutions, according to IDC.

Download your complimentary copy of the new IDC white paper: Optimizing the Recurring Revenue Stream.

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, 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.

Forward-Looking Statements
This press release contains forward-looking statements, including statements regarding our new Analytics Cloud and its capabilities, our ability to improve the renewal rates and revenue results of our customers and their channel partners, the overall benefits of our cloud applications, and our future plans with respect to our offerings. 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.

Contact Information