ServiceSource Outlines Vision for Recurring Revenue Alliance and Introduces Charter Members

Before you go, we thought you'd like these...
Before you go close icon

ServiceSource Outlines Vision for Recurring Revenue Alliance and Introduces Charter Members

Applications, Platform and System Integration Providers Enable Global Customers to Generate Revenue and Increase Retention with Best Practices SaaS Application

SAN FRANCISCO--(BUSINESS WIRE)-- ServiceSource® (NAS: SREV) , the global leader in recurring revenue management, today announced the introduction of the Recurring Revenue Alliance, designed to help businesses generate revenue and increase customer retention by creating best practice-based end-to-end recurring revenue solutions.


The Recurring Revenue Alliance helps companies maintain and grow their share of the $310B annual recurring revenue market for maintenance, support and subscriptions across hardware, software, industrials, healthcare and XaaS1. By helping companies easily connect systems and data across existing CRM, quoting and ERP systems, the Alliance helps them implement and automate a highly effective renewal process. The Alliance brings together best-in-class companies including BigMachines, MuleSoft, Okta, Pactera, Salesforce.com and Xactly, in addition to ServiceSource.

"We know, from working with technology leaders around the world to increase recurring revenue, that the data required to effectively drive these revenue streams is scattered across five to seven different systems, all of which are deeply embedded in the organization," said Christine Heckart, ServiceSource Chief Marketing Officer. "In order for cloud applications and services to work for customers, they must be designed from the ground up to seamlessly interoperate in the enterprise IT environment. We are pleased to be working with leading innovators in the industry."

"Revenue based on recurring sales from installed customers is nearly 50% of the profit earned by the global IT market," said Robert Mahowald, Research Vice President at IDC. "The Recurring Revenue Alliance brings together leading SaaS and services companies to help customers optimize their bottom-line business results."

The Recurring Revenue Alliance is formed on a vision to rapidly expand highly profitable renewal, cross-sell and upsell revenue by:

  • Helping customers capitalize on untapped renewal opportunities by bringing together data from existing CRM, quoting and ERP systems
  • Minimizing the time and cost for customers to extend their existing CRM, quoting and ERP infrastructure to a leading-edge cloud application built just for recurring revenue
  • Aggressively driving interoperability and rapid implementation for recurring revenue solutions

Initial members of the Recurring Revenue Alliance deliver benefits for recurring revenue management including:

  • BigMachines: provides solutions for complex quoting, pricing and configuration of renewal contracts
  • MuleSoft: delivers efficient data loading from multiple renewal data sources and pre-built connectors to other 3rd party applications
  • Okta: provides seamless single-sign-on access for Renew OnDemand and other cloud and on-premise applications
  • Pactera: experienced systems integration consultants that can address a wide range of information technology challenges and projects
  • Salesforce.com: seamless integration with Salesforce.com provides side-by-side visibility to new and renewal sales opportunities
  • ServiceSource: data-driven application and analytics designed specifically to increase sales of recurring revenue
  • Xactly: provides on-demand incentive comp visibility to renewal sales reps and managers

"Recurring revenues are the fastest-growing revenue streams, averaging 8 percent per year growth while new product revenues are growing at an average rate of 6 percent per year," said Julia Stegman, Research Vice President at the Technology Services Industry Association. "The Recurring Revenue Alliance brings capabilities to the market that specifically address gaps in today's solution architecture to enable optimal recurring revenue growth."

For more information on the Recurring Revenue Alliance, please visit www.servicesource.com/recurring-revenue-alliance

About ServiceSource, Inc.

ServiceSource is the global leader in recurring revenue management. The world's most successful companies rely on us to maximize subscription, maintenance and support revenue, improve customer retention and increase business predictability and insight. ServiceSource delivers results with Renew OnDemand, the worlds only cloud application built specifically to manage and grow recurring revenue, which can be combined with our industry-leading services.

With over a decade of experience focused exclusively in growing recurring revenue, our services and applications are based on proven best practices and global benchmarks. The company is headquartered in San Francisco, and has over $8 billion under management for customers in more than 150 countries and 40 languages.

ServiceSource and any ServiceSource product or service names or logos above are trademarks and/or registered 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 TwitterLinkedIn and YouTube.

1 For HW/SW: Gartner Market Databook 2Q12. For HCLS: Sourced from Hoovers / D&B. Number represents management assumption that service revenue is 15% of total revenue. For IS: Sourced from Hoovers / D&B. Number represents management assumption that service revenue is 20% of total revenue for Industrial systems & manufacturing companies. XaaS come from Gartner Public Cloud Services End-User Spending by Segment for Region, 2010-2016 source: Gartner (December 2012)



ServiceSource
Media Contact:
Tony Fisch Consulting
Tony Fisch, 323-461-7878 or 323-228-4543
Tony@fischconsulting.com

KEYWORDS:   United States  North America  California

INDUSTRY KEYWORDS:

The article ServiceSource Outlines Vision for Recurring Revenue Alliance and Introduces Charter Members originally appeared on Fool.com.

Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

Read Full Story

Want more news like this?

Sign up for Finance Report by AOL and get everything from business news to personal finance tips delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.

From Our Partners