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Gerber Scientific Looks to ServiceSource to Discover Potential of Greater Recurring Service Renewal PerformanceIndustry Leader in Manufacturing Automation Systems Will Use Additional Recurring Revenue to Fuel Global Expansion, Product Innovation and Research & Development (January 27, 2012)
SAN FRANCISCO, CA -- (Marketwire) -- 01/27/12 -- ServiceSource® (NASDAQ: SREV), the global leader in service revenue management, today announced it will work with Gerber Scientific, an industry leader in manufacturing automation systems, to drive increased recurring service revenue globally. For use across the Gerber Technology division, the company will leverage the ServiceSource service revenue management solution, consisting of the industry's most sophisticated cloud platform, business intelligence and a team of dedicated service sales experts.
The ServiceSource solution will enable Gerber Scientific to empower internal teams to both spend more time and resources developing deeper relationships with new and existing customers and to expand business development operations around the world.
"We've led this category for over 40 years, driven by superior product innovation and deep relationships with customers," said Mark Hessinger, executive director, global customer service at Gerber Scientific. "Increasing renewal rates is important to our business, something we hope will present new revenue opportunities for the company. ServiceSource is the undeniable leader in service revenue management and we expect our partnership to generate additional recurring revenue that can be used to for new product development, and enhanced customer experience."
Through a combination of hardware and software solutions, Gerber Scientific offers innovative industrial design, automated manufacturing systems and cutting solutions for the industries they serve. Gerber Scientific is among a new and growing breed of companies across a wide array of vertical markets that have evolved its business model to complement existing hardware business with more software and services.
"We're seeing companies across an increasing number of vertical markets and geographies use software and services to expand product offerings and create new revenue streams. However, managing ongoing service, support and maintenance contract renewals can be a challenge; ServiceSource has over a decade of experience in helping customers increase service contract renewal rates, on average, by 15% or more," said Mike Smerklo, chairman of the board and chief executive officer of ServiceSource. "This partnership will help Gerber Scientific to spend more time, money and other resources to expand their business into other regions and build on a 60-year legacy of success."
About Gerber Scientific
Gerber Technology is comprised of four businesses that serve distinct market segments. These include the Global Software Solutions business which offers the world's leading product lifecycle management (PLM), product data management (PDM) and CAD automation solutions for the retail, footwear and apparel businesses; the Sewn Products Solutions business which provides textile cutting and spreading systems to apparel and flexible materials manufacturers in all regions of the world; the Composites and Automation Solutions group which serves aerospace, fabrication and construction markets with ply cutting, laser templating and laser metrology solutions; and Gerber Innovations, North America's only full-line manufacturer of automated cutting hardware for the packaging industry. In all markets, Gerber's solutions significantly improve productivity and reduce costs.
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.
This press release contains forward-looking statements, including statements regarding our ability to improve the renewal rates and revenue results of our customers and their channel partners, and the overall benefits of our cloud applications. 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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Director of Corporate Communications
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