ServiceSource Announces Winter Release of Renew OnDemand™

New capabilities and insights empower companies to intelligently engage with customers and turbocharge recurring revenue

SAN FRANCISCO--()--ServiceSource® (Nasdaq:SREV) today announced the Winter Release of Renew OnDemand, the leading cloud-based solution for recurring revenue management. The Winter Release changes the game for growth-oriented companies by continuously providing renewal teams with prioritized sales plays to optimize recurring revenue and customer retention. Combined with enhanced Salesforce integration, the Winter Release helps sales leaders and teams achieve unprecedented sales performance from both existing customers and new prospects.

With the emergence of the cloud and pay-to-use business models, B2B companies are realizing that the “one-time sale” is no longer a sustainable strategy for long-term growth. As a result, companies are refocusing their efforts to increase value to their customers and drive recurring revenue from subscriptions and service contract renewals. Research has shown that companies that consistently engage their customers ultimately boost retention and renewal rates. The Winter Release of Renew OnDemand helps companies align their data, systems, metrics, processes and sales cultures to enable renewal sales teams to drive additional insight into every customer interaction through:

  • Optimized sales execution with the right play at the right time. Renew OnDemand is the only SaaS application that leverages data-driven insights to manage critical sales activities that support recurring revenue businesses. Integrated playbooks and alerts prompt immediate focus on the next best action to drive deals forward and unblock revenue barriers, while empowering reps to generate more revenue in a time-sensitive renewal sales environment.
  • Dynamic sales management to instantly implement new sales strategies. Sales managers can easily create and manage ‘Focus Categories’ to prioritize their teams’ renewal activities. This enables renewal sales teams to prescriptively jump to the deals that yield the best sales results. Over 70 renewal-specific metrics empower renewal sales leadership to stay agile with their business, identify trends that impact the bottom line and maintain a satisfied customer base.
  • Combined revenue visibility through seamless Salesforce integration. With the Winter Release, sales leadership gains a joint view of both renewal and net new sales. For sales reps, a single consolidated interface creates a holistic view of customers to understand the entire account and manage new and renewal sales. By accurately understanding a customer’s installed base, both new and renewal sales teams can tightly coordinate sales activities between upsell, cross-sell and renewals to maximize revenue and customer lifetime value.

Renew OnDemand is the first cloud application purpose-built to maximize recurring revenue, ensuring that renewal teams are engaging with customers at the right time, using the right data. Built upon 14 years of best practices and experience, Renew OnDemand today manages over $1B of recurring revenue opportunities for the largest technology and B2B brands in the world.

“Renew OnDemand allows our team to have both the intelligence and the renewal-specific tools to better serve Polycom customers and partners,” said Chris Dickerson, Director of Services, Polycom. “With Renew, we make it easier for our customers and channel partners to do business with Polycom while driving customer retention and recurring revenue.”

“Whether you are a new business offering subscription services or transitioning your legacy business into the cloud, most organizations in 2014 need a strategy to support the recurring revenue economy,” said Elaina Stergiades, Research Manager for IDC's Software Support Services program. “As part of this shift, IDC sees an increased focus on value-selling and consistent customer engagement. Solutions like Renew OnDemand from ServiceSource can create a strong foundation for this recurring revenue sales culture by integrating disparate customer data, orchestrating targeted sales initiatives and augmenting existing CRM systems.”

“Recurring revenue today represents a massive $600 billion market opportunity for B2B companies,” said Mike Smerklo, Chairman and CEO of ServiceSource. “Unfortunately, most companies today struggle to capitalize on this opportunity because they were built and organized around the one-time sale. Our latest release of Renew OnDemand delivers expanded insight, management and automation capabilities that every B2B company needs as the engine for their recurring revenue business.”

For more information on the latest release of Renew OnDemand, visit www.servicesource.com/renewsales. ServiceSource will also host a Renew OnDemand Winter Release webinar with IDC on March 18. To learn more and register, visit http://corporate.servicesource.com/2014_Renew_winter_release

About ServiceSource

ServiceSource International, Inc. (NASDAQ: SREV) is the global leader in cloud-based recurring revenue management solutions. The company helps customers drive growth and build long-standing relationships across the customer lifecycle with the industry's most comprehensive data management, analytics, automation and services capabilities. Through Renew OnDemand™, Scout® and proven services, ServiceSource delivers higher subscription, maintenance and support revenue, improved customer retention and increased business predictability. Headquartered in the Cloud Corridor of San Francisco, ServiceSource® manages $14.5 billion in recurring revenue for the world's largest and most respected technology and B2B companies. For more information, please go to www.servicesource.com.

Forward-Looking Statements

This press release contains forward-looking statements, including statements regarding the benefits of ServiceSource offerings, our managed services and our Renew OnDemand cloud platform and application. These forward-looking statements are based on our 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, fluctuations in our quarterly results of operations; the risk of material defects or errors in the our software offerings or their failure to meet customer expectations; migrating customers to Renew OnDemand and the ability to integrate Renew OnDemand with other third-party applications used by our customers; errors in estimates as to the renewal rate improvements and/or service revenue we can generate for our customers; our ability to grow the market for service revenue management; our ability to protect our intellectual property rights; the risk of claims that our offerings infringe the intellectual property rights of others; changes in market conditions that impact our ability to sell the Renew OnDemand solution and/or generate service revenue on our customers' behalf; the possibility that our estimates of service revenue opportunity under management and other metrics may prove inaccurate; demand for our offering that falls short of expectations; our ability to keep customer data and other confidential information secure; our ability to adapt our solution to changes in the market or new competition; 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 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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Trademarks

ServiceSource, Renew OnDemand 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.

Contacts

ServiceSource
Randy Brasche, 415-901-7719
rbrasche@servicesource.com

or
Lewis PR for ServiceSource
Dan Walsh, 415-432-2413
Dan.Walsh@lewispr.com

Release Summary

ServiceSource today announced the Winter Release of its Renew OnDemand cloud-application with new capabilities and insights for companies to engage with customers and boost recurring revenue.

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Contacts

ServiceSource
Randy Brasche, 415-901-7719
rbrasche@servicesource.com

or
Lewis PR for ServiceSource
Dan Walsh, 415-432-2413
Dan.Walsh@lewispr.com