Multiple Sales and Partner Support Agreements Signed with Client in Response to ServiceSource’s Demonstrated Ability to Drive Consumption
DENVER – May 15, 2019 – ServiceSource (NASDAQ: SREV), the digital customer journey experience company, announced today that it has extended and expanded its relationship with one of the world’s premier cloud service providers to drive key sales and partner growth initiatives.
ServiceSource has supported the client with renewals and customer success solutions for the past seven years. After an initial expansion into the cloud services program last year demonstrated strong results, the client is rapidly scaling and adding ServiceSource’s sales development and partner support to new cloud programs under multiple new agreements. Once fully activated, these new agreements are expected to generate in excess of $10 million of annualized revenue.
Through this latest step, ServiceSource is able to further engage as a strategic partner in a move designed to speed adoption of services in the hyper-competitive cloud market, where rapid customer acquisition is critical in the race to gain market share.
“ServiceSource helps high-growth companies rapidly and efficiently scale their global go-to-market activities, giving our clients more opportunity to find and close new business in the midst of an increasingly competitive and dynamic market environment,” said Gary B. Moore, chairman and chief executive officer of ServiceSource. “We are proud to have earned the trust of this client over the course of our long relationship and are very excited for the value we anticipate driving for them through these new agreements.”
Through its relationships with progressive service providers, ServiceSource continues to build an elite set of experiences, best practices and expertise in business-to-business sales and partner strategy for the cloud industry, which is projected to grow from $210 billion this year to $370 billion by 2022 according to industry research firm, IDC.
With channel partnerships proving to be an essential component of the client’s ability to extend cloud services to the business market, ServiceSource will deploy an integrated approach designed to ensure global channel partner success, including partner enablement, onboarding, effectiveness and satisfaction. ServiceSource will also manage sales development, taking responsibility for the entire lead qualification process.
Leveraging ServiceSource’s delivery centers in Nashville, Dublin, Singapore and Japan, the client will be able to proactively engage and support partners and cloud end-users in their preferred language, including English, Portuguese, French, German, Japanese, Korean, and Chinese and Spanish.
ServiceSource International, Inc. (NASDAQ: SREV) brings the world’s greatest brands closer to their customers through digitally-enabled solutions and data-driven insights that personalize and power the “moments that matter”. Backed by 20 years of experience, an industry-leading technology platform, a robust global footprint and a powerful suite of solutions that enhance every touchpoint along the Customer Journey Experience (CJX), we deliver impactful revenue growth for global market leaders. Operating out of eight countries with more than 3,000 sales delivery professionals speaking 45 languages, ServiceSource drives billions of dollars in client value annually. To learn more about how we help our clients more effectively find, convert, nurture, grow and retain their customers, visit www.servicesource.com.
This press release contains forward-looking statements, including statements regarding our ability to expand our relationships with our clients, generate revenue on behalf of our clients, speed adoption of our clients’ services, help our clients rapidly and efficiently scale their global go-to-market activities, enable our clients to find and close new business, drive value for our clients, and enable global channel partner success. 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.
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