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ServiceSource Announces That SuccessFactors Has Selected Its Subscription Lifecycle Management Solution to Optimize Subscription Renewals(October 27, 2011)
SAN FRANCISCO, CA -- (Marketwire) -- 10/27/11 -- ServiceSource (NASDAQ: SREV), the global leader in service revenue management, today announced that SuccessFactors (NYSE: SFSF), the global leader in cloud-based business execution software, has selected ServiceSource's Subscription Lifecycle Management (SLM) solution to further enhance the adoption and renewal of its industry-leading Business Execution (BizX) suite and provide a strong foundation for its rapidly expanding customer base.
Through its BizX suite, SuccessFactors delivers business alignment, team execution, people performance, and learning management solutions to organizations of all sizes and in every category. The company serves more than 3,500 customers with approximately 15 million subscription seats in 168 countries and 34 languages.
SuccessFactors chose ServiceSource to optimize the performance of subscription renewals for its cloud-delivered BizX Suite and to help rapidly scale its renewals operations to better support its continued high growth. Once implemented, the relationship will fully leverage the ServiceSource Subscription Lifecycle Management solution to enhance customer adoption, gather deeper insights on customer behavior, and ensure a consistent, productive customer experience.
"At SuccessFactors, we're all about helping our customers bridge the gap between strategy and execution with our Cloud-based BizX software," said Doug Dennerline, president, SuccessFactors. "ServiceSource will help us expand our capacity to service our customers across the customer lifecycle while maintaining high levels of customer adoption and loyalty as we continue to rapidly grow."
"SuccessFactors is a compelling company leading an industry and is intensely focused on customer success. They are growing fast and we're eager to help them optimize customer adoption and subscription renewals," said Mike Smerklo, chairman of the board and CEO, ServiceSource. "SuccessFactors is the latest SaaS company to select ServiceSource for subscription lifecycle management, which is a huge endorsement for the value we deliver for this large and growing market."
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.
Forward Looking Statements
This press release contains forward-looking statements, including statements regarding our ability to quickly and effectively 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.
Media Contact for ServiceSource:
Horn Group for ServiceSource
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