Fast-Growing Team Collaboration Market Leader Selects ServiceSource to Design and Implement Innovative Revenue Retention Program

Rhea-AI Summary

ServiceSource International, Inc. (NASDAQ: SREV) has signed a new agreement to deliver a revenue retention solution for a client in the cloud communication market. The client, serving millions globally and recognized as a pioneer in digital collaboration, aims to sustain its over 40% annual growth rate through a new renewals program. CEO Gary Moore highlighted the importance of maintaining customer relationships in a digitally transformed environment. However, the press release also contains forward-looking statements, indicating potential risks including employee retention and market conditions.

Positive

• New agreement to provide a revenue retention solution, indicating growth potential.
• Client is a recognized leader in cloud-based collaboration, enhancing credibility for ServiceSource.
• Opportunity to support a client experiencing over 40% annual growth.

Negative

• Risks regarding attracting and retaining skilled employees could impact growth.
• Market conditions may affect the ability to sell solutions and generate revenue.

ServiceSource International, Inc. (NASDAQ: SREV), the customer journey experience company, today announced it has signed an agreement to deliver an innovative revenue retention solution for a new client in the cloud-based collaboration and communication market.

The new client provides digital collaboration solutions to more than half of the Fortune 100 and serves millions of daily active users in more than 150 countries worldwide. Broadly recognized as an industry pioneer and category creator, the client chose to partner with ServiceSource in launching a new holistic renewals, extension, and health check program to sustain its 40 percent-plus annual growth rate.

“Over the past year, companies worldwide have digitally transformed to enable employees to stay connected while working virtually, driving rapid expansion for technology platforms that bring people together,” says Gary Moore, chief executive officer, ServiceSource. “Our teams will engage to keep existing customer relationships healthy, protecting and maintaining revenue to support this client’s unprecedented opportunity for growth in the new digital work era.”

“ServiceSource’s proven ability to drive loyalty at scale includes our ability to listen to the needs, wants and concerns of thousands of customers, and turn their feedback into actionable insights that improve the entire customer success process for our clients,” said Mike Naughton, executive vice president, Global Client Delivery, ServiceSource. “As experts in preserving and growing customer relationships, particularly for digital disruptors and high-growth XaaS companies, we are uniquely aligned to help this industry leader achieve its goals.”

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.

Connect with ServiceSource:
Website: http://www.servicesource.com/
LinkedIn: https://www.linkedin.com/company/servicesource/
Twitter: https://twitter.com/servicesource

Forward-Looking Statements

This press release contains forward-looking statements, including statements regarding our ability to maintain or increase the client’s annual growth rate or revenue and preserve and grow customer relationships. 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210616006005/en/

FAQ

What is the recent agreement signed by ServiceSource (NASDAQ: SREV)?

ServiceSource signed an agreement to provide a revenue retention solution for a client in the cloud communication market.

How does the new client influence ServiceSource's growth?

The client is recognized as a pioneer in digital collaboration and aims for over 40% annual growth, which could benefit ServiceSource by association.

What challenges might ServiceSource face after signing the new agreement?

ServiceSource may face challenges in retaining skilled employees and adapting to changing market conditions.

What is the significance of the new revenue retention program for the client?

The revenue retention program is designed to maintain healthy customer relationships and support the client's rapid growth in the digital era.