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ServiceSource Channel Sales Cloud Helps More Than 19,000 Channel Partner Subscribers Manage Over $2.7 Billion in Recurring Service RevenueCloud-Based Portal Purpose-Built for the High-Tech OEM Channel Sees Rapid Adoption (December 08, 2011)
SAN FRANCISCO, CA -- (Marketwire) -- 12/08/11 -- ServiceSource®, (NASDAQ: SREV), the global leader in service revenue management, today announced the company's Channel Sales Cloud application has been deployed on behalf of over 30% of ServiceSource customers to over 19,000 channel subscribers in multiple languages across 30 countries since the product launch in January 2009.
The Channel Sales Cloud application is a centralized, cloud-based renewals portal that enables ServiceSource customers' reseller partners to easily access and collaborate on accurate information about their maintenance, support and subscription renewals opportunities. The Channel Sales Cloud allows partners to quickly view, prioritize, search, collaborate, export and execute on upcoming renewals. ServiceSource customers who have successfully deployed this application with their resellers and are seeing real results include: VMware, Adobe, Siemens, Hitachi Data Systems, Red Hat, Motorola, and Blue Coat Systems.
"We have seen a direct correlation between our adoption of the Channel Sales Cloud and increased renewal rates; it is an extremely valuable tool for channel enablement," said Michael Hartmann, vice president, worldwide service sales for Blue Coat Systems. "Being able to see, in real time, how they're performing versus targets and previous quarters is important to our partners. Many of them now rely on the Channel Sales Cloud to help stay on track."
The Channel Sales Cloud helps distributors and resellers manage their business by displaying a summarized view of their up-to-date renewal performance and pipeline, a detailed list of open opportunities with critical sales information, and an online support request process for requesting assistance from the ServiceSource team.
"The Channel Sales Cloud gives partners self-service, anytime access to key installed base information, resources, and functionality that streamlines and simplifies the service renewals process through the channel," said Mike Smerklo, chief executive officer, ServiceSource. "Since implementing our Channel Sales Cloud portal, our customers have seen a significant boost in on-time renewal rates, higher margins, improved visibility into performance and increased channel partner satisfaction and loyalty."
With strong growth and now nearly 10,000 partners made up of over 19,000 individual subscribers, the ServiceSource Channel Sales Cloud is the most widely adopted service revenue performance application for the channel in the industry. The application is valuable to customers who operate globally, where cultural and language differences and multi-channel environments make partner management challenging. The Channel Sales Cloud allows companies operating in a channel environment to transcend virtual and national boundaries.
The Channel Sales Cloud is part of the Service Revenue Performance Suite of cloud applications, which is powered by the Company's Service Revenue Intelligence Platform, a business intelligence engine with over a decade of renewals data, benchmarks and best practices. ServiceSource renewals intelligence helps drive direct sales, channel sales, and sales management actions in a manner that is aligned with known industry best practices in order to optimize service revenue. Within this data repository, the customer-specific data set is maintained within operational and analytical databases and continuously measured against the Company's own best practices and performance benchmark data -- collected through serving 100+ customer engagements worldwide.
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 the adoption and the benefits of our Channel Sales Cloud application, the size of the market for service revenue management, 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, errors in the estimated size of the market for service revenue management, 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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