SOURCE: ServiceSource

ServiceSource

October 11, 2011 09:00 ET

ServiceSource Partners With F5 to Help Drive Subscription Renewals and Customer Loyalty

SAN FRANCISCO, CA--(Marketwire - Oct 11, 2011) - ServiceSource® (NASDAQ: SREV), the global leader in service revenue management, today announced that F5 (NASDAQ: FFIV), the global leader in Application Delivery Networking, has implemented the ServiceSource service revenue performance solution to support its Asia Pacific renewals business and enable a regionally-consistent technology platform for managing recurring maintenance and support revenue.

F5 selected ServiceSource to effectively support and drive its Asia Pacific channel partners with greater visibility and control over their renewals performance and opportunities. The cloud-powered ServiceSource service revenue performance solution was implemented at F5 within 60 days, including the meeting of all local requirements for business process and language.

"With F5's market-leading technology, services are a critical component in providing our customers with the support, expertise and peace of mind they need for our enterprise-class products," said Michael Quah, director, professional services, Asia Pacific, F5. "Utilizing ServiceSource's solution, we now have a scalable regional team in place that we can trust and that also gives our management team greater visibility into the business going forward. Following the deployment of the Channel Sales Cloud, we have seen strengthened channel partner and end-customer relationships by streamlining the renewals process through greater quoting and contract status accuracy."

"We are tremendously honored to be working with a market leader like F5 and supporting them with their ambitious growth plans here in the region," said Basheer Cassim, senior vice president & managing director, Asia Pacific & Japan, ServiceSource. "This is a great testament to the level of partnership that we have been able to develop between our two companies. By leveraging our purpose-built recurring service revenue performance solution, F5 is better positioned to take advantage of opportunities for stronger customer retention, improved customer relationships and increased recurring revenue from subscription renewals."

ServiceSource's service revenue management solution, including its Service Revenue Performance Cloud, its global team of dedicated service sales professionals and over a decade of renewals data, benchmarks, KPIs and best practices, has been proven to increase recurring service revenue renewal rates and end-customer loyalty, driving higher revenue and profits for the leading technology-based brands worldwide.

F5 and the F5 logo are trademarks or service marks of F5 Networks, Inc., in the U.S. and other countries. All other product and company names herein may be trademarks of their respective owners.

About F5 Networks
F5 Networks is the global leader in Application Delivery Networking. F5 solutions help integrate disparate technologies to provide greater control of the infrastructure, improve application delivery and data management, and give users seamless, secure, and accelerated access to applications from their corporate desktops and smart devices. Enterprises, service and cloud providers, and leading online companies worldwide rely on F5 to optimize their IT investments and drive business forward. For more information, go to www.f5.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, 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 ability to improve the renewal rates and revenue results of our customers. 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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