News and Events
ServiceSource Announces the Addition of Jeff Bizzack as President
4 May 2009, San Francisco, CA — ServiceSource, a San Francisco-based Service Performance Management leader for the high-tech industry, today announced the appointment of Jeff Bizzack as President, effective immediately. As the largest independent manager of maintenance revenue globally, the addition of Mr. Bizzack reflects a key milestone for the company as services revenue takes a more prominent role as a growth driver for technology, healthcare and life sciences companies.
With more than 20 years of experience in the technology and outsourcing industries, Bizzack was formerly Managing Director and CEO of Accenture BPO Services LLC, where he led the company’s expansion for finance, accounting and human resources outsourcing for the mid-market. Prior to that, he was CEO of Savista LLC and executive vice president of ProBusiness Services, Inc., which he co-founded in 1988. Bizzack is highly regarded as an industry leader in using technology to build client-centric services organizations and guiding companies through growth and expansion. At ServiceSource, Bizzack will oversee all client-facing activities across the customer lifecycle including sales, marketing, development, and delivery.
“ServiceSource has historically done a remarkable job in delivering more than $5 billion in services revenue for its clients,” said Mr. Bizzack. “With the recent announcement of our expansion into APAC, our continued investments in technology, and our expanding relationships with new and existing clients shows that we are well prepared to help our customers grow their service share across all regions and markets. It’s an incredibly exciting time to join ServiceSource.”
“Jeff’s track record shows unparalleled success in service excellence and innovation,” said Mike Smerklo, Chairman and CEO of ServiceSource. “His experience and proven leadership in building highly successful global services businesses across diverse industries will be a valuable asset to ServiceSource as we continue to expand geographically and into new industry sectors.”
Solving the $30 Billion Services Problem
Gartner and other leading analysts estimate that support and maintenance offerings generate roughly $150 billion a year. Meanwhile, technology companies only capture on average less than 80% of this potential annuity stream leaving $30 billion in services revenue currently “on the table”. In the most recent publication of the Service Performance Management Report Q4 2008, benchmarked companies saw improvement in key areas. There were gains in two key metrics, Close Rates and Annual Conversion Rates, which indicates that customers are continuing to invest in maintenance. Technology companies that focus on this key revenue driver are more successful at maintaining their revenue and profitability.
“The results of the Q4 2008 Service Share Index shows that customers are continuing to invest in service and maintenance contracts as a way to extend the life and value of their IT assets,” said Mr. Smerklo. “As a response to the growing opportunity in this market, we continue to make investments in our technology, global expansion, and key talent. With Jeff joining the management team, I am confident that we’re in a great position to help our clients expand and focus on this critical area of their business.”
For more information about service share, please read the latest Service Share Index report.