New Contract Expands ServiceSource Customer Success Solution with Existing Cloud-based Client
May 11 2021 - 4:07PM
Business Wire
Solid Execution and Demonstration of Client
Value Unlock Global Expansion Opportunity
ServiceSource International, Inc. (NASDAQ: SREV), the customer
journey experience company, today announced a new contract to
expand its Customer Success solution into new geographies for a
fast-growing, cloud-based identity management client.
The client provides secure identity and access management
technologies to business users globally and in 2020, chose
ServiceSource to address its need to better retain its small and
midsize (SMB) customers. Through its sales performance analysis
process, ServiceSource determined that a Customer Success strategy
would remove the barriers to solution adoption and usage that the
client experienced, and ultimately help build lasting and growing
relationships with its customers.
Within a year, ServiceSource executed a Customer Success
playbook for its client that delivered a 90 percent renewal rate
among SMB customers in North America.
As a result, ServiceSource recently signed a new contract to
expand its outreach on behalf of the client to customers in the
Europe, Middle East and Africa (EMEA) and Asia Pacific and Japan
(APJ) regions, giving the relationship a global footprint. Through
this expansion, ServiceSource expects the value of this client
partnership will increase approximately 50 percent over the
contract’s two-year term.
“Customers are buying outcomes, not just products or services.
Especially for Software-as-a-Service solutions where expectations
are high and adoption of services can be low, proactive engagement
early and often is critical for success,” said Gary B. Moore,
chairman and chief executive officer, ServiceSource. “Fast-growing
businesses sometimes lack the resources they need to ensure that
smaller and mid-market relationships begin, and stay, on the right
track. Adding the scale and strategy of our solutions to tackle
these issues enables our clients to maximize their revenue along
the entire customer journey experience.”
“ServiceSource provides the consistent outreach that is
essential to maintaining the short-term subscription-based
relationships that are often found in the SaaS world,” said Mike
Naughton, executive vice president of Global Client Delivery,
ServiceSource. “The key to improving customer stickiness is to
tightly align onboarding and activation to the customer’s goals and
routinely check-in to ensure that every action taken is building
the relationship for the long-term. We are pleased to take on a
broader role in helping our client create customers for life.”
About ServiceSource
ServiceSource International, Inc. (NASDAQ: SREV) is a global
outsourced go-to-market services provider that accelerates B2B
digital sales and customer success transformation. Our expert sales
professionals, data-powered insights and proven methodologies scale
and reimagine customer journey experiences (CJX™) into profitable
business outcomes. Backed by more than 20 years of experience,
ServiceSource drives billions of dollars in client value annually,
conducting commerce in 45 languages and 178 countries. To learn
more about how we design, develop and manage CJX solutions that
transform the agility, speed, efficiency and value of our clients’
growth initiatives, visit www.servicesource.com.
Forward-Looking Statements
This press release contains forward-looking statements,
including statements regarding the increased value of the
partnership and our ability to maximize our clients’ revenue. 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 our forward-looking statements.
Those risks and uncertainties include that we may be unable to
attract and retain the highly skilled employees we need to support
our planned growth; changes in market conditions that impact our
ability to sell our solutions and/or generate service revenue on
our clients’ behalf; 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 https://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.
Trademarks
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.
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version on businesswire.com: https://www.businesswire.com/news/home/20210511006186/en/
Media and Investor Contact: Elise Brassell
mediarelations@servicesource.com
investorrelations@servicesource.com 303-889-8616
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