ServiceSource and Blue Coat Systems Improve Recurring Service Revenue and Channel Satisfaction in Europe, Middle East and Africa
New EMEA Partnership Has Increased On-Time Renewal Rates by Approximately 20 Percentage Points in Nordic and Benelux Regions
SAN FRANCISCO, CA -- (MARKET WIRE) -- 07/19/11 -- ServiceSource® (NASDAQ: SREV), the global leader in cloud-enabled service revenue performance solutions, today announced that it has deployed its Channel Sales Cloud with Blue Coat Systems, Inc. (NASDAQ: BCSI), a leading provider of Web security and WAN optimization solutions, leading to a significant increase in service contract renewal rates and improved channel partner satisfaction in the EMEA market.
Blue Coat began its global relationship with ServiceSource nearly five years ago in North America to transform its renewals business based on ServiceSource's track record of delivering results for the world's most respected technology brands. In 2010, ServiceSource deployed its Channel Sales Cloud application for Blue Coat to augment Blue Coat's existing service revenue management solution from ServiceSource. Today, Blue Coat uses ServiceSource to manage its end-to-end global maintenance and support renewals business in the Americas, EMEA and Asia Pacific and Japan.
"ServiceSource's industry leadership and expertise in service revenue management has greatly strengthened our service renewal operations and sales," said Michael Hartmann, vice president, service sales for Blue Coat Systems. "ServiceSource's Channel Sales Cloud application has boosted channel sales for renewals and provided excellent data management and visibility for us and our partners."
Based on a channel-based sales model, Blue Coat found that its renewals operations could be optimized through ServiceSource's tools and expertise. Blue Coat implemented ServiceSource's Channel Sales Cloud to manage service solutions for its 90-plus EMEA-based resellers and distributors. The new system provides a cloud-based platform for partners to better collaborate with Blue Coat and its end-customers. The application has delivered accurate, real-time customer and asset data on renewal opportunities across the entire ecosystem -- enabling channel partners to easily and effectively renew maintenance and support contracts while improving end-customer relationships and loyalty.
Following deployment of the Channel Sales Cloud, Blue Coat and its partners have seen:
Increased visibility into installed-base data and improved channel satisfaction
Better insight into the performance of its channel partners, allowing for it to segment partners and incentivize usage of the partner portal to fuel service sales performance
Strengthened channel partner and end customer relationships by streamlining the renewals process through greater quoting and contract status accuracy
Adoption and usage of the Channel Sales Cloud has been particularly strong in the Nordics and Benelux regions, where 100% of the channel is using the portal, and enjoying improved renewal performance as a result. In both regions, since adopting the portal, on-time renewal has improved by approximately 20 percentage points.
"We are thrilled with our ongoing relationship with Blue Coat in EMEA and that Blue Coat's implementation of our Channel Sales Cloud has provided them with such strong results," said Mike Smerklo, chairman of the board and chief executive officer, ServiceSource. "As our relationship has developed into a global relationship over the past several years, Blue Coat is in a great position to more proactively drive and manage the growth of profitable renewals revenue through its channel, while also making Blue Coat easier to do business with, increasing channel loyalty."
ServiceSource continues to help drive Blue Coat's global recurring service revenue and streamline its renewals operations, addressing the unique challenges of maintaining a channel-based sales model, including the need to gain clear visibility into its installed-base, renewals pipeline and business, and to have insight and control to optimize its operation to address changes in business conditions.
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 their channel partners, and the overall benefits of our cloud applications such as our Channel Sales Portal. 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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