Riverbed Technology Extends Deployment of ServiceSource Solution for Service Revenue Management
SAN FRANCISCO, CA -- (MARKET WIRE) -- 06/23/11 --
ServiceSource® (NASDAQ: SREV), the global leader in cloud-enabled service revenue performance solutions, today announced an expanded deployment of its solutions with Riverbed Technology, the IT performance company. Building on successful ServiceSource deployments in the EMEA and APJ markets, Riverbed® selected ServiceSource's Service Revenue Performance Suite™ of cloud applications to support its North America renewals sales team and to
enable a globally consistent technology platform for managing recurring maintenance and support revenue.
"The ServiceSource technology and service sales teams delivered strong results for us in EMEA and APJ, and we knew that implementing the platform and cloud applications -- with our existing sales operations and teams in North America -- was the right thing to do," said MJ Shutte, vice president of corporate sales, Riverbed. "We needed a single and robust, purpose-built platform to better manage our installed base data, which could meet the demands of our existing sales team. ServiceSource gives us that needed insight, and we are excited about our expanded partnership."
Riverbed selected ServiceSource's Service Revenue Performance Suite of cloud applications and the Service Revenue Intelligence Platform™, the most comprehensive data warehouse of service revenue data, KPIs and best practices. Riverbed will use the global technology platform for bringing together and coordinating maintenance and support services revenue from global resellers and distributors, ServiceSource-dedicated sales teams in Riverbed's EMEA and APJ operations, and the existing Riverbed renewals team in North America.
The Service Revenue Performance Suite will integrate with Riverbed's existing Salesforce.com Sales Cloud and Service Cloud.
Riverbed's deployment of ServiceSource solutions -- through customized, cloud-based applications -- will help Riverbed achieve its goals of increased visibility, higher renewal rates and a globally-scaled renewals ecosystem that will allow partners and Riverbed management to analyze renewals metrics for better insight into their renewals performance.
"With such a strong collaboration between ServiceSource and Riverbed in place, we are very happy to further extend our partnership beyond EMEA and APJ by implementing our cloud applications and intelligence platform to support Riverbed's renewals sales team in the North America market," said Mike Smerklo, Chairman of the Board and CEO, ServiceSource. "By unifying service revenue management with our cloud apps and platform across Riverbed's entire maintenance and support operations, Riverbed will be able to better connect with its customers and partners globally and have visibility and control across its global renewals business."
Riverbed delivers performance for the globally connected enterprise. With Riverbed, enterprises can successfully and intelligently implement strategic initiatives such as virtualization, consolidation, cloud computing, and disaster recovery without fear of compromising performance. By giving enterprises the platform they need to understand, optimize and consolidate their IT, Riverbed helps enterprises to build a fast, fluid and dynamic IT architecture that aligns with the business needs of the organization. Additional information about Riverbed (NASDAQ: RVBD) is available at www.riverbed.com.
Riverbed and any Riverbed product or service name or logo used herein are trademarks of Riverbed Technology, Inc. All other trademarks used herein belong to their respective owners.
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 35 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.
For more information on ServiceSource, visit http://www.servicesource.com. To connect with ServiceSource, visit us on Twitter, Facebook, LinkedIn and YouTube.
This press release contains forward-looking statements, including statements regarding our ability to improve the renewal rates and revenue results of our customers, and the benefits of our cloud applications. 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:
Horn Group for ServiceSource
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