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ServiceSource Announces Sales Centers of Excellence for Maintenance, Support and Subscription Renewals in Denver and Nashville(November 02, 2011)
SAN FRANCISCO, CA -- (Marketwire) -- 11/02/11 -- ServiceSource® (NASDAQ: SREV), the global leader in service revenue management, today announced facility expansions for its best-in-class Sales Centers in Denver, Colorado and Nashville, Tennessee. In addition, the Company continues to invest in global infrastructure and operations to ensure smooth scaling and business performance as ServiceSource continues to rapidly grow.
"Over the past 5 years, we have achieved a 35 percent annual growth rate in revenue, driven by the addition of new customers as well as through the expansion of existing customer relationships," said Mike Smerklo, chief executive officer of ServiceSource. "To ensure that we continue to deliver an average 15 percentage point increase in renewal rates to our customers, we have organized around centers of excellence, including the optimization of data management capabilities within our Global Sales Operation Center. Similarly, in the US, we will optimize the inside sales function at our scalable and best in class Sales Centers in Denver and Nashville."
The San Francisco office will continue to grow as world headquarters, adding staff in sales, marketing, engineering and other support functions.
In addition, ServiceSource will look to continue expanding its footprint in EMEA and APJ, driven by customer growth and expansions, underscoring that the leading technology-based companies are turning to ServiceSource to manage their burgeoning recurring revenue streams.
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 growth and ability to scale smoothly in the future, 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 such as our Channel Sales Portal. 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 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.
Media Contact for ServiceSource:
Horn Group for ServiceSource
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