SAN FRANCISCO May 17, 2011 ServiceSource® (NASDAQ: SREV), the global leader in cloud-enabled service revenue performance solutions, today announced that its partnership with Roche (SIX: RO, ROG; OTCQX: RHHBY) has led to an increase of 44 percentage points for the division's service contract renewal rates.
Roche is the world leader in in-vitro diagnostics, tissue-based cancer diagnostics and a pioneer in diabetes management. Prior to engaging with ServiceSource, the diagnostics contracting department, responsible for all aspects of contract sales and management for hardware, reagents, consumables and service, recognized that it did not have the bandwidth to effectively work with customers to sell the full value of its service contracts to ensure client satisfaction and loyalty. Roche turned to ServiceSource to provide an end-to-end service revenue performance solution, combining cloud applications with a proprietary data intelligence platform and a Roche-branded service sales team dedicated to its business. Roche was also attracted to the ServiceSource pay-for-performance model, which forged a shared-risk, variable cost partnership. With ServiceSource financially committed to improving service revenue and customer satisfaction, Roche was able to redeploy resources to other parts of the business.
"In partnering with ServiceSource, Roche increased its service renewal rates by a total of 44 percentage points while also improving our overall customer satisfaction," said Russ Fellows, escalation support manager, Roche. "With ServiceSource, we now have the ability to convert annual contracts into multi-year deals while ensuring support contract alignment to our customers' needs, allowing us to plan strategically for the future and maximize our portfolio opportunities." "ServiceSource's dedication to top level customer satisfaction and generation of new revenue for customers like Roche reflects the true value of our pay-per-performance solutions," said Mike Smerklo, CEO and chairman of ServiceSource. "By leveraging the flexibility and scalability of our cloud-enabled service, Roche can more effectively capture its full service renewal opportunity, while ensuring customer satisfaction on a global scale."
Headquartered in Basel, Switzerland, Roche is a leader in research-focused healthcare with combined strengths in pharmaceuticals and diagnostics. Roche is the world's largest biotech company with truly differentiated medicines in oncology, virology, inflammation, metabolism and CNS. Roche is also the world leader in in-vitro diagnostics, tissue-based cancer diagnostics and a pioneer in diabetes management. Roche's personalized healthcare strategy aims at providing medicines and diagnostic tools that enable tangible improvements in the health, quality of life and survival of patients. In 2010, Roche had over 80,000 employees worldwide and invested over 9 billion Swiss francs in R&D. The Group posted sales of 47.5 billion Swiss francs. Genentech, United States, is a wholly owned member of the Roche Group. Roche has a majority stake in Chugai Pharmaceutical, Japan. For more information: www.roche.com or www.roche-diagnostics.us.
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, over 40 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 30 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.
Media Contact for ServiceSource:
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