SAN FRANCISCO & LONDON--(BUSINESS WIRE)--ServiceSource® (NASDAQ:SREV), the global leader in recurring revenue management, today introduced its Customer Lifecycle Management (CLM) solution designed to help Cloud- and subscription-based businesses maximize customer lifetime value and sustainably grow their businesses. By combining its SaaS capabilities with new managed services, ServiceSource accelerates a company’s implementation or transformation to subscription-based business models. Today’s announcement also bolsters customer acquisition-centric CRM systems and processes with new customer engagement capabilities for managing product adoption, customer retention and growth. ServiceSource is showcasing its CLM solution on June 17-18 at Cloud World Forum in London (Booth #B452).
Today, every B2B company is significantly investing in Cloud- and subscription-based offerings as an engine for future growth. In fact, for subscription businesses, the ability to retain customers and grow their footprint is the best way to drive growth and profitability. For companies selling subscription-based products, more than 90 percent of revenues and up to 50 percent of annual growth targets are realized post-sale from existing customers.
By providing managed services powered by its market-leading SaaS offerings for recurring revenue management, ServiceSource is uniquely positioned in the marketplace to help companies understand and engage customers during critical phases such as onboarding, adoption, renewals, retention, cross-sell/upsell and advocacy. Located across six worldwide sales centers, the managed services teams act as an extension to a company’s sales or customer success organizations to proactively engage their customers with the right approach at the right time. These teams are armed with Customer Lifecycle Management methodologies specifically designed for recurring revenue to help boost customer retention and renewal rates.
ServiceSource Creates Customers for Life
The solution also fills a considerable gap not addressed by today’s CRM systems and traditional selling services. Specifically, CRM systems and selling services have been built to drive the initial sale of a product or service by tracking marketing and sales activities and interaction data such as sales contacts, relationship history and sales pipeline. Subscription-based businesses focused on recurring revenue sales require additional information such as usage and adoption data and health scores to manage key sales, marketing and customer success activities throughout the customer lifecycle.
“Websense offers a broad portfolio of products that address a range of security challenges in the marketplace. As such, understanding our customers’ complex requirements and ensuring they realize the value of their Websense investment is the driving force behind our customer success, product strategy, sales and marketing activities,” said John Giacomini, Senior Vice President, Americas Sales for Websense. “By engaging our customers with a tailored approach, ServiceSource helps build long-term equity in our customer base. Through this engagement, Websense adapts to our customer’s changing needs, drives a better customer experience, and identifies opportunities for increased revenue through upsell and cross-sell.”
Unlike typical customer success offerings, ServiceSource’s Customer Lifecycle Management solution incorporates both insight and execution capabilities from its SaaS and managed services portfolio to maximize customer value and accelerate sustainable revenue growth and profits:
- Usage and Predictive Analytics: The CLM solution analyzes subscription, usage and CRM data from a company’s Cloud- or subscription-based service to understand how customers are deriving value from their products, spot growth opportunities and uncover warnings signs of churn. Using industry-proven playbooks, ServiceSource then pushes opportunities and tasks to trained personnel from its global managed services team to engage a company’s customer base in a more meaningful way, increasing revenue through upsell, cross-sell and higher renewal rates.
- Renewal Automation, Workflow and Playbooks: During the critical renewal phase, companies are working against a compressed contract-expiration timeline. ServiceSource boosts sales effectiveness by managing renewal sales pipelines and providing timely renewal-ready opportunities with personalized sales plays.
- Managed Services: Leveraging the company’s SaaS capabilities, ServiceSource’s dedicated team of managed services professionals provides an array of services to engage customers with the right play at the right time. These services extend customer success and sales coverage for acquisition, onboarding, adoption, renewals, retention and expansion.
ServiceSource Creates Customers for Life
- Integration with Leading CRM systems: ServiceSource integrates with leading cloud-based CRM systems to manage all sales activities through a singular process and interface.
- Recurring Revenue Ecosystem: Through an ecosystem of technology and solution partners, ServiceSource accelerates customer success and recurring revenue growth for subscription companies.
“Today, most sales, marketing and customer success organizations are constrained by CRM’s acquisition-centric view of the customer,” said Martin Moran, executive vice president of global selling services for ServiceSource. “These companies are looking for help in building new capabilities or looking for coverage to maintain their growth. By offering new managed services for Customer Lifecycle Management, companies now have a solution to accelerate their growth initiatives and create customers for life.”
For More Information:
- CLM Solution: www.servicesource.com/customer-lifecycle-management
- Scout® by ServiceSource: www.scoutanalytics.com
- Twitter: #Customers4Life
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.
This press release contains forward-looking statements, including statements regarding the benefits of ServiceSource offerings, our managed services, our Renew OnDemand cloud platform and application, and/or our Scout 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 our software offerings or their failure to meet customer expectations; migrating customers to Renew OnDemand; the ability to integrate Renew OnDemand or Scout 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 or Scout 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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