Healthcare and Life Sciences

2 of the top 3 Medical Device Companies trust ServiceSource

Improve On-time Renewals and Warranty Conversions

For technology-based healthcare and life sciences companies, services can represent up to 50 percent of revenue and can be highly profitable. But most companies invest more heavily in the products side of the business, rarely allocating comparable resources to services.

Healthcare & Life Sciences companies worldwide, such as Abbott, Affymetrix, Agilent, GE Healthcare, MAQUET and Siemens Healthcare partner with ServiceSource to improve service revenue performance.

The positive results that our healthcare and life sciences customers attain include:

  • Increased on-time renewals. We tailor a multi-touch contact strategy for each customer that begins 90 to 120 days before the service contract expiration date. This best practice results in stronger end customer relationships and higher renewal rates and revenue.
  • Conversion of product warranties. Because we convert expiring product warranties into ongoing maintenance contracts, our customers are able to offer their end customers greater peace of mind, to sustain customer relationships, and to produce incremental revenue.
  • Recovery of customers with lapsed contracts. ServiceSource solves an often-overlooked problem: the installed base out of warranty (IBOW). We help recapture revenue by recovering "lost" customers whose service contracts have lapsed.
  • Greater business insight. ServiceSource healthcare and life sciences customers rely on our service sales expertise and analytics for tracking key performance indicators of their renewals business. They gain the real-time insight needed to inform strategic decisions.
  • Improved international coverage. We enable our customers to extend their service sales into international markets, without having to invest in localized infrastructures. Our global sales centers provide native-language speakers in over 150+ countries and 40+ languages who can address more than 100 markets' national and local customer requirements, healthcare regulations, service capabilities, and sales approaches.