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TSIA Names ServiceSource as First Partner in Residence -- Launches Service Revenue Generation DisciplineTSIA Taps ServiceSource's Decade of Expertise to Help Launch Its Fifth Discipline (October 26, 2011)
LAS VEGAS, NV -- (Marketwire) -- 10/26/11 -- ServiceSource® (NASDAQ: SREV), the global leader in service revenue management, today announced an exclusive partnership with the Technology Services Industry Association (TSIA), the leading association for technology services organizations, to launch TSIA's newest discipline -- Service Revenue Generation. The announcement was made today at Technology Services World in Las Vegas, Nevada where ServiceSource executives and TSIA spoke about the benefits of the new discipline and the partnership.
Recurring service revenue makes up some of the most profitable dollars for hardware, software and other technology-based companies. The renewal of customer relationships is rapidly becoming the best indicator of the overall health and potential growth of a company(1). Yet most organizations struggle to organize and unlock the value from fragmented renewals data, and to understand how to use that data to improve the overall renewal rate, optimize recurring revenue and extend customer loyalty.
"No longer can organizations ignore the impact a strong recurring service revenue program can have on the health and future growth of their business," said Mike Smerklo, chairman and CEO, ServiceSource. "TSIA is recognized worldwide as a trusted resource for benchmarking, research, certification and awards programs in the technology services industry. We are honored to help launch its Service Revenue Generation discipline and bring our expertise to the TSIA community to provide insight gained from our global visibility into comparative renewals data, benchmarks, KPIs and best practices in the marketplace."
"The ability to maximize recurring service revenue is becoming increasingly important to the community members we serve," said JB Wood, president and CEO, TSIA. "We are launching this new discipline based on TSIA community feedback and market need to provide our members with the best thinking and resources to help them optimize service revenue initiatives within their organizations. We have created a Partner-in-Residence program to tap into third party expertise in support of our industry best practice and thought leadership programs. I am pleased to also announce that we have selected ServiceSource as our first Partner-in-Residence to support our Service Revenue Generation practice."
TSIA identifies one partner organization per service discipline, each with a distinctive ability to make unique contributions to research and provide insights, with a track record of contributing to industry thought leadership. ServiceSource, as the global leader in the service revenue management category, was a natural fit for the Service Revenue Generation discipline and Partner-In-Residence program developed by TSIA.
As the flagship partner for the new discipline, ServiceSource will help TSIA accelerate the development of intellectual property for the service revenue discipline by:
- Working with advisory board members to set the research agenda and strategic approach
- Contributing leading edge frameworks, best practices and metrics
- Providing insight regarding benchmarking and industry surveys conducted by TSIA
- Identifying and analyzing changing market dynamics and trends
The Technology Services Industry Association (TSIA) is the leading association dedicated to advancing the business of technology services. Technology services organizations large and small look to TSIA for world-class benchmarking and research, exceptional peer networking and learning opportunities, and high-profile certification and awards programs. TSIA corporate members represent the world's top technology companies as well as scores of innovative small and midsize businesses in four major markets: enterprise IT and telecom, consumer technologies, healthcare and healthcare IT, and industrial equipment and technology. TSIA brings the technology services industry together. www.tsia.com
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.
Forward Looking Statements
This press release contains forward-looking statements, including statements regarding our ability to 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.
(1) IDC, "Optimizing the Recurring Revenue Stream," Rob Brothers and Robert P. Mahowald, September 2011.
Media Contact for ServiceSource:
Horn Group for ServiceSource
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