News

ServiceSource Activates Global Renewals Management for Cybersecurity Client

Rapidly-Growing Market Leader Turns to ServiceSource to Enhance Higher Customer Lifetime Value

DENVER (Nov. 3, 2020) – ServiceSource International, Inc. (NASDAQ: SREV), the customer journey experience company, announces it has launched its renewals management program to support a new global engagement with a cloud-native endpoint cybersecurity provider.

Trusted by one-third of the Fortune 100 and growing more than 30 percent annually, the client turned to ServiceSource to support higher renewal rates and enhance the lifetime value of subscribers within the company’s small- to mid-sized customer segment. ServiceSource’s team of professionals designed and implemented the solution within weeks across North America, Europe and Asia. By entrusting ServiceSource to manage a complex and cloud-centric global renewals program while generating higher levels of customer interaction and engagement, the client will enable their internal go-to-market teams to prioritize new sales and larger enterprise deals.

According to industry analyst firm IDC, a heightened C-level focus on trust will cause the global cybersecurity market to grow at a 9.4 percent Compound Annual Growth Rate through 2023.

“Through this new engagement we are doing one of the things we do best; protecting the installed base of recurring subscription revenue in a hyper-competitive market,” said Gary B. Moore, chairman and chief executive officer, ServiceSource. “We are pleased to have earned the trust of this new client in support of their future growth strategies and market leadership initiatives. By applying our High Performance Selling methodology to every customer interaction, we believe we will drive higher retention rates, build deeper customer connections and touchpoints, and identify valuable upsell and cross-sell opportunities for this client.”

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 expertise 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:

Media and Investor Contact:
Elise Brassell
ebrassell@servicesource.com
investorrelations@servicesource.com
303-889-8616

Forward-Looking Statements
This press release contains forward-looking statements, including statements regarding our ability to support higher renewal rates for our clients, enhance the lifetime value of our clients’ subscribers, generate higher levels of customer satisfaction and engagement, enable our clients to devote sales resources to strategic areas, protect our clients’ installed base of recurring subscription revenue, support our clients’ future growth strategies and market leadership initiatives, apply our High Performance Selling methodology, drive higher retention rates, build deeper customer connections and touchpoints, and identify upsell opportunities . 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.