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ServiceSource Delivers 90% Renewal of Recurring Service Revenue for Good TechnologyService Revenue Management (SRM) Solution Boosts Renewal Rates for Good's Recurring Service Revenue, Helps Mobile Security Leader Capitalize on Explosion of BYOD Environments (June 18, 2012)
SAN FRANCISCO, CA -- (Marketwire) -- 06/18/12 -- ServiceSource® (NASDAQ: SREV), the global leader in Service Revenue Management (SRM), today announced that it has helped customer, Good Technology, the leading provider of secure and managed enterprise mobility and collaboration tools for a range of mobile devices, increase its renewal of recurring service revenue, maintenance and support contracts to over 90 percent in the past year.
Good Technology provides enterprise-grade mobile security solutions to half of the Fortune 100 and to other enterprise customers -- in over 90 countries operating on over 200 different mobile carriers. The boom in mobile enterprise computing was spurred by the proliferation of mobile devices and explosive growth of 'bring your own device' (BYOD) environments and has accelerated the demand for Good Technology's award-winning solutions.
"Good Technology has seen business surge as a result of the growing use of the iPhone, Android, iPad and other smartphones in the enterprise. The increased demand for our mobile security solutions sharpened Good's focus on product innovation, pushing service contract renewals to the back burner," said Brian Carr, Senior Vice President of Worldwide Sales at Good Technology. "We needed a best-in-class partner that could collect and analyze customer data and, at the same time, renew the opportunities. We partnered with ServiceSource to better leverage customer intelligence, gain deeper insight into our installed base and increase recurring renewal rates of maintenance and support contracts."
Good Technology customers purchase support when they buy Good for Enterprise, the company's secure mobile device management (MDM) solution and collaboration suite. Good's support services help ensure rapid answers to customers' product and service questions, as well as prompt delivery of product upgrades via access to Good's download site. The company's rapid growth was making it difficult to have visibility into the service renewal dates for service contracts that need to be renewed each year. Good Technology leveraged the ServiceSource service revenue management solution to both improve installed base intelligence and predictability for its surging maintenance service business, which helped increased customer-support visibility and overall revenue renewal.
ServiceSource helped Good better organize and maintain its installed base data. The ServiceSource Analytics Cloud® gave Good a real-time view of opportunities, pipeline, and renewal rates, as well as customer, asset and contract data. Extensive reporting capabilities provide unprecedented business intelligence, forecasting capability, and control over the service contract business.
"Good Technology is a world leader in mobile security and exactly the type of high-growth, tech-enabled company with whom we like to do business," said Mike Smerklo, Chairman and Chief Executive Officer, ServiceSource. "The results achieved through this partnership are exciting and will enable Good to fund and fuel the next mobile security innovation."
To learn more about how ServiceSource optimizes businesses' recurring service revenue operations whether in hardware, healthcare and life-sciences, software or the channel, please visit our Real Results page to hear more success stories.
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, 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.
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