ServiceSource Renew OnDemand Now Managing $1B in Recurring Revenue
Opportunity via the Cloud
Introduces Powerful New Analytics and Channel Management Capabilities
SAN FRANCISCO -- July 17, 2013
ServiceSource® (NASDAQ: SREV), the global leader in recurring revenue
management, today highlighted its momentum for Renew OnDemand, the first cloud
application purpose-built to maximize recurring revenue. Released in the fall
of 2012, Renew OnDemand today boasts major technology customers, representing
over $1B in annual recurring revenue opportunity. ServiceSource also announced
several new capabilities available in the Renew OnDemand cloud application as
successful companies increasingly rely upon ServiceSource to better manage
their most profitable sources of revenue – existing customers.
Today, six major technology companies are leveraging Renew OnDemand to manage
their subscriptions, maintenance and support contracts – all in the cloud.
Announced customers include hardware, software, and SaaS providers such as
Aspect and Bazaarvoice, with several major deployments planned for the
“We have reached a critical milestone, surpassing more than $1B in recurring
revenuethrough Renew OnDemand,” said Mike Smerklo, Chairman and CEO of
ServiceSource. “In less than a year, Renew OnDemand has rapidly proven itself
as a strategic solution that drives growth for our customers. Our Summer
Release of Renew OnDemand builds upon this initial momentum to ensure
continued customer success.”
New Summer Release of Renew OnDemand
Available today, the Summer Release of Renew OnDemand includes powerful new
capabilities to enhance channel sales operations and provide actionable
analytics. For many companies, the channel represents 80-90 percent of renewal
revenue. At the same time, channel renewal rates are typically twelve points
below renewals managed by direct sales teams. New channel features designed to
close this gap include:
*Two-tier channel management for OEMs to track and manage renewal sales
through distributors and value added resellers.
*Twelve new channel-specific metrics to track and report on channel sales
*Activity collaboration to empower distributors and resellers to jointly
manage and close opportunities with OEM channel account teams.
ServiceSource Announces Momentum for Renew OnDemand
Successfully managing renewals also requires advanced insight – at least
90-120 days – into upcoming expirations. The Summer Release of Renew OnDemand
includes expanded analytics and reporting powered by GoodData®, a leader in
cloud-based data analytics. The latest Renew OnDemand flexible reporting tool
enables customers to define their own set of dashboard metrics to effectively
manage as well as track account and channel performance:
*Over 60 renewal-specific metrics to quickly gain actionable insights.
*New Days in Advance Dashboard that visually tracks and displays key
renewal milestones for greater insight on trending.
*Drill-down into root-cause analysis and renewal activities such as
contact, opportunities, quotes and bookings to improve renewal
For global companies, the Summer Release also expands international language
support including Japanese, Korean and traditional and simplified Chinese.
ServiceSource International, Inc. (NASDAQ: SREV) is the global leader in
recurring revenue management. Renew OnDemand™, the only cloud application
built specifically to grow recurring revenue, automates a highly valuable but
typically manual business process. By leveraging big data to give companies a
complete view of their customers, Renew OnDemand and our proven services drive
higher subscription, maintenance, and support revenue, improved customer
retention, and increased business predictability.
With over a decade of experience focused exclusively on growing recurring
revenue, ServiceSource's products and services are based on proven best
practices and global benchmarks. Headquartered in San Francisco,
ServiceSource® manages over $9 billion in recurring revenue for the world’s
largest and most respected technology companies. ServiceSource renews a
customer contract every 47 seconds through engagements in more than 150
countries and 40 languages. For more information, please go to
Connect with ServiceSource:
ServiceSource, Renew OnDemand and anyServiceSourceproduct or service names
or logos above are trademarks ofServiceSource International, Inc.All other
trademarks used herein belong to their respective owners.
Randy Brasche, 415-901-7719
Dan Walsh, 415-432-2413
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