SOURCE: ServiceSource

ServiceSource

March 08, 2011 09:00 ET

ServiceSource Drives Recurring Revenue for SaaS Companies With New Subscription Lifecycle Management Solution

Companies Using the ServiceSource Solution Benefit From Reduced Churn and Improved Customer Loyalty

SAN FRANCISCO, CA--(Marketwire - March 8, 2011) - ServiceSource®, a global leader in cloud-enabled service revenue management solutions, today announced the availability of its Subscription Lifecycle Management (SLM) solution. The SLM solution drives incremental revenue for SaaS companies by increasing customer adoption, reducing churn, and expanding customer relationships and loyalty.

The SLM solution helps SaaS companies maximize revenue throughout the pivotal points of the customer lifecycle by understanding and addressing the needs of end customers. ServiceSource's decade of experience with increasing renewal rates and customer loyalty for leading software companies is the foundation for its SLM solution innovation to help customers retain and grow business in the competitive and fast-moving SaaS industry.

"SaaS companies face unique challenges in retaining and expanding customer relationships in today's increasingly competitive environment," said Mike Smerklo, chairman and CEO of ServiceSource. "Our Subscription Lifecycle Management solution not only helps SaaS companies drive adoption of their solutions to retain existing customers, but also drives up-sell and cross-sell throughout the entire customer lifecycle, capturing significant new revenue opportunities."

The threat of revenue erosion is a side effect of rapidly evolving SaaS offerings, which has made it difficult for SaaS vendors to scale operations and dedicate the resources necessary to drive customer adoption of solutions and functionality. Additionally, with fragmented customer data spread across disparate systems, gaining full insight into customer information and behavior is challenging. ServiceSource's SLM solution delivers valuable benefits to companies throughout the customer lifecycle by addressing these issues with an end-to-end cloud-enabled services solution. ServiceSource automates the subscription renewals process with an integrated suite of cloud applications and a high-touch renewals sales team, offered as a managed service.

The Subscription Lifecycle Management solution:

  • Takes a best-in-class approach to renewals
  • Dedicates focused and trained resources to driving adoption as well as cross-selling and up-selling
  • Improves customer management by providing one accurate source of global customer lifecycle data
  • Provides unparalleled visibility and control into renewal opportunities, quoting and performance

With Subscription Lifecycle Management, SaaS vendors can increase product usage, reduce customer churn rates, improve up-sell and focus their sales efforts on acquiring new customers. With a fully equipped recurring revenue data intelligence engine, purpose-build cloud applications, and renewals sales engine, the cloud-enabled service provides companies with proactive tools to solve challenges across the customer lifecycle.

About ServiceSource
ServiceSource focuses on driving increased service revenue, profitability and customer satisfaction for technology-based companies. ServiceSource manages the sales process for renewals of maintenance, support and subscription agreements on behalf of its customers. ServiceSource's integrated solution consists of a suite of purpose-built cloud applications, a proprietary service revenue Intelligence engine and dedicated service sales teams working under our customers' brands offered as a managed service. This cloud-enabled services solution addresses the critical steps of the renewals process, including data management, quoting, selling and service revenue business intelligence. ServiceSource's business is built on its pay-for-performance model, whereby its revenues are based on the service renewals customers achieve with its solution.

For more information on ServiceSource, visit http://www.servicesource.com. To connect with ServiceSource, visit us on Twitter, Facebook, LinkedIn and YouTube.