SOURCE: ServiceSource

ServiceSource

May 02, 2011 09:00 ET

ServiceSource Releases Service Revenue Performance Suite to Bring End-to-End Service Revenue Management to the Cloud

Technology-Based Companies Can Increase Maintenance, Support and Subscription Revenue With New Cloud-Based Solution

SAN FRANCISCO, CA--(Marketwire - May 2, 2011) - ServiceSource® (NASDAQ: SREV), the global leader in cloud-enabled service revenue performance solutions, today announced the launch and general availability of the Service Revenue Performance Suite™ -- the only end-to-end suite of applications purpose-built for service revenue management and delivered via the cloud. ServiceSource will unveil the new suite May 3rd with co-innovation customer, NetApp, at the 2011 Technology Services World (TSW) conference in Santa Clara, Calif.

Technology-based companies are constantly challenged to find new, cost-effective ways to increase their profitable service revenue streams. In fact, it is estimated that more than $30 billion in service revenue is left on the table each year. To capture this service revenue opportunity, companies need more than access to accurate information -- they need an end-to-end integrated solution built specifically for the management of accurate service revenue data and processes. The Service Revenue Performance Suite delivers an end-to-end, cloud-based solution to enable greater visibility and control over renewals, provide sales teams and channel partners with powerful yet easy-to-use tools to boost renewal rates, and improve customer and channel satisfaction.

Sold as part of an integrated solution of software and managed services, the Service Revenue Performance Suite allows customers to work collaboratively with ServiceSource to effectively grow and manage service revenue across their entire business. The Suite includes six cloud-based applications -- with two new applications launched today.

The Installed Base Management Cloud (NEW)
Keeping track of and maintaining accurate installed-base data presents challenges for many technology companies and services organizations. For some companies, poor quality data results from information residing on multiple, disparate systems and is exacerbated through business events like M&A and limited visibility into data for products sold through channel partners. Often, initiatives to clean installed-base data are time consuming, expensive and do not address the ongoing need to maintain this data, following the initial clean up.

Data problems related to renewals are common and lead to compromised visibility into renewal opportunities, poor quote accuracy, and multiple revisions. These issues not only result in inefficiencies and lost revenue, but they can also undermine customer and partner satisfaction. Poor installed-base data also leads to higher service delivery costs, as technicians and replacement parts are sent to the wrong contacts or locations, resulting in customer frustration.

The ServiceSource Installed Base Management Cloud manages these issues with a repository for cleansed installed-base data and deep business intelligence to increase sales efficiency and reduce quote-to-close times. The application analyzes the integrity and completeness of the renewals data to flag anomalies and missing elements to continuously improve data accuracy. Tightly integrated with the Service Revenue Performance Suite, Installed Base Management provides resellers, distributors, and sales representatives with a clear view of the OEM's installed base and which customers are using which products. Correcting installed-base data issues helps drive sales through quoting accuracy, uncovers cross-sell and up-sell opportunities, and informs decision-making around technology refresh versus renewals.

The Dynamic Quoting Cloud (NEW)
Creating accurate service renewal quotes can be challenging for both inside sales teams and channel partners. Many organizations struggle with legacy product-based quoting systems that are inefficient for producing service renewal quotes and revisions. What should take minutes to produce often takes hours and multiple iterations.

The Dynamic Quoting Cloud is an easy-to-use application for service sales teams, distributors, resellers, and end customers to create and modify maintenance, support, or subscription renewal quotes. It complements a high-touch sales approach to drive revenue and allows the service revenue ecosystem to interact and collaborate. Dynamic Quoting is tightly integrated with a configurable product and pricing rules engine and can significantly improve quote accuracy and efficiency when combined with the Installed Base Management application.

NetApp, a leading innovator in storage and data management solutions, is deploying the Service Revenue Performance Suite to help manage installed-base data and service renewals to drive incremental revenue and efficiencies in service delivery.

"Providing the highest levels of service and support to NetApp customers and partners is essential to enabling them to achieve a flexible and efficient IT infrastructure," said Ed Deenihan, executive vice president of customer advocacy at NetApp. "The cloud-based Service Revenue Performance Suite will give NetApp deeper visibility into its installed-base data, allowing it to provide customers and partners with faster and more efficient service delivery. As a result, NetApp customers and partners will be able to experience even greater value and satisfaction."

The new Installed Base Management and Dynamic Quoting cloud applications join the ServiceSource family of service revenue management applications, sold as part of an integrated solution of software and managed services. The suite of cloud applications also includes:

  • eCommerce -- Provides a self-service web application for end-users who prefer to manage and renew their support renewals directly through a secure online portal.

  • Service Sales -- Renewals application that enables service sales representatives to manage renewal opportunities and pipeline using best practice sales methodology supported by configurable workflows.

  • Channel Sales -- Streamlines sales cycle and collaboration between sales team and partners by providing our customers' channel partners with online access to a renewals performance dashboard to effectively manage the renewals pipeline, easily find customer and asset information, and build, modify and download quotes.

  • Analytics -- Enables better global visibility and control over the services business, with role-based dashboards and analytics capabilities that enable companies to analyze performance by sales channel, dollar segment, channel partner, product line and geography.

The Service Revenue Performance Suite is performance-ready -- utilizing the benefits of the cloud to accelerate time to value, minimize total cost of ownership, and scale with customer needs. It includes real-time access and insight into operational, channel and customer trends and KPIs, as well as quotes and sales data for increased selling capacity.

"ServiceSource has always focused on staying at the forefront of Service Revenue Management," said Mike Smerklo, chairman and CEO of ServiceSource. "With the launch of our Service Revenue Performance Suite, including the new Installed Base Management and Dynamic Quoting cloud apps, we are providing the only complete solution for service revenue management. Combined with our managed services offerings, we bring even more capability for our customers to maximize their service revenue and optimize their customers satisfaction and loyalty."

The Service Revenue Intelligence Platform™
The Suite is powered by another industry innovation -- ServiceSource's Service Revenue Intelligence Platform. Purpose-built for managing the end-to-end maintenance, support and subscription renewals process, the platform helps optimize service revenue by leveraging customer and renewals data to help drive direct sales, channel sales and sales management. Based on a service revenue-specific data model, the platform identifies opportunities by aligning customer data with best practices and benchmarks. The Service Revenue Intelligence Platform allows continuous measurement of transactional, analytical and industry data to optimize results, and has processed over 2 million transactions representing more than $14 billion in service revenue. The platform tracks over 100 Service Revenue key performance indicators and best practices, providing customers with more insight and innovation with every transaction.

"Continuing the innovation process is the mainstay of TSIA, and we're pleased to see that ServiceSource is continuing to foster change in its marketplace," said J.B. Wood, president and CEO of TSIA. "ServiceSource's Service Revenue Performance Suite is an industry-leading product that provides on-demand value to its customers. By adding new capabilities like installed base management and quoting applications to its solution, ServiceSource has taken a giant step forward to help its customers manage and improve their service revenue performance."

About ServiceSource
ServiceSource is the global leader in Service Revenue Management. The Company 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 the Service Revenue Performance Suite of cloud applications, dedicated service sales teams working under our customers' brands and a proprietary Service Revenue Intelligence Platform. By integrating software, managed services and data, ServiceSource 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.

ServiceSource and any ServiceSource product or service names or logos above are trademarks of ServiceSource International, Inc.

NetApp, the NetApp logo, and Go further, faster are trademarks or registered trademarks of NetApp, Inc. in the United States and/or other countries. Use of the word "partner" or "partnership" should not be construed as a legal partnership between NetApp and any other company.

Forward-Looking Statements
This press release contains forward-looking statements, including statements regarding the capabilities and benefits of our technology offerings and 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.