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ServiceSource Helps Guidance Software Increase Contract Renewal Rates; Announces New Three-Year Relationship(November 30, 2011)
SAN FRANCISCO, CA -- (Marketwire) -- 11/30/11 -- ServiceSource® (NASDAQ: SREV), the global leader in service revenue management, today announced that Guidance Software, the industry leader in digital investigative solutions, has renewed its global partnership with ServiceSource through 2014.
Guidance Software's EnCase® platform provides the foundation for government, corporate and law enforcement organizations to conduct thorough, network-enabled, and court-validated computer investigations of any kind, such as responding to electronic discovery requests, conducting internal investigations, responding to regulatory inquiries or performing data and compliance auditing -- all while maintaining the integrity of the data. There are more than 40,000 licensed users of the EnCase® technology worldwide, the EnCase® Enterprise platform is used by more than sixty percent of the Fortune 100, and thousands attend Guidance Software's renowned training programs annually.
The Guidance Software and ServiceSource relationship, forged in 2006, has driven on-time support contract renewal rates for Guidance Software's enterprise customers to nearly 100%. The relationship has also helped strengthen existing customer relationships and satisfaction.
"Our partnership with ServiceSource is long standing, and we have been pleased with their performance and capabilities to help us optimize our recurring revenue as well as to provide us with better visibility and predictability into our renewals business," said Barry Plaga, chief financial officer, Guidance Software. "Driven by these excellent results over the years, we're extending our contract with ServiceSource for the next three years and fully expect for the partnership to continue to deliver stellar results for us and our customers."
"We truly value our partnership with Guidance Software. As an innovator and industry leader, Guidance Software was an early adopter of the ServiceSource cloud-powered solution, recognizing the value of our pay-for-performance business model and the power of our unique end-to-end solution for service revenue management," said Mike Smerklo, chief executive officer of ServiceSource. "We are excited for possibilities with Guidance over the next three years and beyond."
EnCase®, EnCE®, EnCEP®, EnScript®, FastBloc®, Guidance Software and Tableau are registered trademarks or trademarks owned by Guidance Software in the United States and other jurisdictions and may not be used without prior written permission. All other marks and brands may be claimed as the property of their respective owners.
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 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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