SOURCE: ServiceSource

ServiceSource

July 22, 2011 09:00 ET

ServiceSource and Siemens Enterprise Communications Partner to Improve Service Revenue Performance and Customer Loyalty

ServiceSource to Provide Better Visibility and Control Into Siemens Enterprise Communications' Renewals Business Through New North American Contract

SAN FRANCISCO, CA--(Marketwire - Jul 22, 2011) - ServiceSource® (NASDAQ: SREV), the global leader in Service Revenue Management, today announced a partnership with Siemens Enterprise Communications, a premier global provider of end-to-end enterprise communications solutions. Under the new relationship, ServiceSource will become the exclusive provider of renewals for maintenance contracts for telephony equipment, software and hardware for designated accounts in Siemens Enterprise Communications' North American operations over the next five years.

Siemens Enterprise Communications selected ServiceSource for its industry leadership, Fortune 100 customer base and proven success in achieving strong results in over 100 customer engagements worldwide. Additionally, through the combination of cloud-based software and a highly-trained managed services team, ServiceSource will help provide a strong foundation to reactivate new recurring revenue streams in the increasingly competitive telecommunications industry.

"As our product-based business continues to grow worldwide, managing the renewals process and providing high-quality customer support has been a strategic focus," said Chris Hummel, chief marketing officer and president, North America, Siemens Enterprise Communications. "Working with ServiceSource was an easy decision, based on their low-risk, pay for performance model and the strong results they have delivered for companies in our market and beyond."

"With increased competition across the technology sector, coupled with margins and resources being squeezed, more companies are turning to best in class partners, like ServiceSource, to manage strategic business processes," said Mike Smerklo, chairman and chief executive officer, ServiceSource. "Siemens Enterprise Communications is yet another great brand that we are thrilled to partner with to help bring their renewals business to the next level of performance. We are confident that this relationship will be a success and open up new opportunities for both companies."

About Siemens Enterprise Communications
Siemens Enterprise Communications is a premier provider of end-to-end enterprise communications solutions, including voice, network infrastructure and security solutions that use open, standards-based unified communications and business applications for a seamless collaboration experience. This award-winning "Open Communications" approach enables organizations to improve productivity and reduce costs through easy-to-deploy solutions that work within existing IT environments, delivering operational efficiencies. It is the foundation for the company's OpenPath® commitment that enables customers to mitigate risk and cost-effectively adopt unified communications. Jointly owned by The Gores Group and Siemens AG, Siemens Enterprise Communications includes Cycos and Enterasys Networks. For more information about Siemens Enterprise Communications or Enterasys please visit http://www.siemens-enterprise.com or http://www.enterasys.com.

Note: Siemens Enterprise Communications & Co K.G. is a trademark licensee of Siemens AG. HiPath, OpenOffice, OpenScape and OpenStage, are registered trademarks of Siemens Enterprise Communications & Co K.G. or its affiliates. All other company, brand, product and service names are trademarks or registered trademarks of their respective holders.

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 by ServiceSource, 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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