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ServiceSource to Provide Service Revenue Management Solution for Hitachi Data Systems Renewals Business in Asia Pacific(December 22, 2011)
SAN FRANCISCO, CA -- (Marketwire) -- 12/22/11 -- ServiceSource® (NASDAQ: SREV), the global leader in service revenue management, today announced an expanded partnership with Hitachi Data Systems (HDS). ServiceSource will partner with HDS in 11 markets across Asia Pacific to drive renewals revenue in its volume business. In addition to delivering increased revenue and ServiceSource's suite of cloud-powered technology, this partnership will enable Hitachi Data Systems to focus existing resources on strategic clients.
Hitachi Data Systems chose ServiceSource for its proven track record of partnering with the world's most admired technology-based brands to boost recurring service revenue and profits as well as to strengthen installed-base customer relationships. The two companies will be working together in China, Hong Kong, India, Indonesia, Malaysia, Philippines, Singapore, Sri Lanka, Taiwan, Thailand and Vietnam.
Combined with the processes already in place at Hitachi Data Systems, ServiceSource will provide the only service revenue management solution proven to deliver, on average, 15 percentage point increases in renewal rates across over 100 customer engagements. Consisting of the purpose-built Service Revenue Performance Suite, renewals data and business intelligence and a dedicated team of renewal sales experts, the ServiceSource solution will complement the Hitachi Data Systems existing renewals business team. The partnership is designed to deliver:
- Increased revenue across the region
- Complete and consistent contract and renewals data
- Extensive enablement programs
- A purpose-built renewals technology platform
- Optimized sales coverage to drive customer growth and satisfaction
"With the growth of Hitachi Data Systems' business in Asia Pacific, we need a partner with solid regional-market knowledge and the ability to benchmark best practices so that we can continue to offer best-in-class quality and timeliness in our client engagements," said Tom Elton, vice president, services, Asia Pacific, Hitachi Data Systems. "We selected ServiceSource to integrate with our team because of its industry leadership position, proven end-to-end service management solution and focus on driving increased service renewals."
"Expanding on the partnership that started between our two companies in North America in 2005, we are tremendously proud to now have Hitachi Data Systems as a partner in Asia Pacific," said Basheer Cassim, senior vice president and managing director, Asia Pacific and Japan, ServiceSource. "We believe that our technology and managed services solution will bring greater visibility into recurring service revenue streams for Hitachi Data Systems, as well as increase customer and channel partner loyalty."
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.
© Hitachi Data Systems Corporation 2011. All Rights Reserved. Hitachi is a registered trademark of Hitachi, Ltd. and/or its affiliates in the United States and other countries. Hitachi Data Systems is a registered trademark and service mark of Hitachi, Ltd. in the United States and other countries.
This press release contains forward-looking statements, including statements regarding 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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