Profile: ServiceSource International Inc (SREV.OQ)
24 Apr 2015
ServiceSource International, Inc., incorporated on November 12, 2002, is a recurring revenue management solution provider. The Company partners with technology and technology-enabled companies to manage maintenance, support and subscription revenue streams. The components of the Company’s solution consist of Renew OnDemand SaaS application, Scout Analytics and a suite of managed services. Renew OnDemand is a SaaS-based renewal management system based on the Company’s data warehouse of transactional, analytical and industry data. The Company integrates software, managed services and data for management and optimization of the service-contract renewals process, including data management, quoting, selling and recurring-revenue business intelligence. Its managed services business is built on a pay-for-performance model. The Company offers Renew OnDemand with or without its managed selling services. Renew OnDemand platform, as well as its other cloud-based solution, are hosted at third-party data centers.
As of December 31, 2013, the Company managed 150 engagements across more than 70 customers. The Company markets its solutions in over 40 languages around the world. The Company’s manages recurring revenue across different revenue models, distribution models and segments, including hardware, software, SaaS, industrial systems, and technology-enabled health care and life sciences. The Company offers transactional data consisting of over four million completed transactions; analytical data across a number of dimensions, such as region, customer segment and contract dollar value, and industry data to benchmark performance across industries and perform cohort analyses.
Renew OnDemand includes key applications designed to manage various elements of the renewals process. Its suite of applications includes Renew Analytics, Renew Sales, Renew Ops, Renew Channel and Renew Installed Base.
Renew Analytics offers dashboards to view and analyze recurring revenue performance by customer, revenue tier, channel partner, product line and region. It also provides expected results, conversion and up-sells, territory analysis, benchmarking and other trending reports.
Renew Sales is an application module that provides the information, best practices and automation needed by a renewal sales team. Renew Sales offers quoting, forecasting and workflow tools, as well as an analytics dashboard that allows sales people and managers to view overall pipeline, top opportunities and performance trends. Renew Ops allows customers to separate selling and administrative activities. Sales administration teams have a complete application to manage all operational activities.
Renew Channel provides channel partners and resellers with online access to renewals opportunities and their performance. The application includes an executive dashboard that enables partners to view their renewals pipeline, their performance against key performance targets and how they are trending compared to previous quarters. In addition, an opportunity view allows partners to manage each upcoming renewal opportunity, find account, contact and asset information specific to that opportunity, download pre-built quotes and request assistance from the Company to support the sales process.
Renew Installed Base provides a single repository for cleansed installed-base data and business intelligence to analyze the data to flag anomalies and missing data elements, and to identify cross-sell and up-sell opportunities. The Renew Installed Base application provides resellers, distributors and sales representatives with a view of the installed base, including information on end customer purchases and usage. Renew Installed Base also facilitates workflow between sales representatives, channel partners and the ServiceSource sales operations teams to correct installed base data issues in the customer’s source data systems.
The Scout Suite is an array of role-based products that leverage the Scout Platform, a recurring revenue management solution. The Scout Suite’s products help companies integrate customer data, predict opportunities and automate customer engagement processes. Each of the products comes with its own workflows, automation and reports.
The Company leverages its knowledge base across various business processes, including service performance analysis (SPA), business case, pricing and contract structuring, recurring revenue performance, customer benchmarking and continuous improvement, developing and delivering applications, selling services, enablement services and data services. In the SPA process, the Company conducts interviews of its prospective customers, analyzes historical performance and future opportunity, and evaluates their recurring revenue business on a number of dimensions. It also benchmarks and identifies service renewal opportunities. For business case, pricing and contract structuring, the Company utilizes a reservoir of data and benchmarks to estimate the critical components of the business case and pricing model. For the recurring revenue performance process, the Company uses its data warehouse to enable, measure, analyze, benchmark and manage the performance of its service sales teams. For the customer benchmarking and continuous improvement process, the Company offers renewals platform that benchmarks its customers’ recurring revenue performance against industry peers and previous period performance. The Company is engaged in developing and delivering applications. Its data warehouse fuels the opportunity data, sales methodologies, metrics and reporting dashboards, which are engineered into the applications. It designs applications to leverage the transactional, analytical and industry data housed in its platform.
The Company offers a package of managed services including selling services, enablement services, and data services. Under its selling services, the Company offers its customers a sales team to drive recurring revenue as part of a full pay for performance solution. The team acts as an extension of the customer’s sales team, directly contacting end users and channel partners to drive recurring revenue, close contracts and upsell/cross-sell additional products and services. This team is backed up by sales enablement and data services teams, which are provided as separate and complementary offerings. Through its enablement services, the Company provides recurring revenue forecasting for customers’ bookings, revenue targets and specific reporting requirements. It supplies a team of resources and tools to build and update customer and channel partner quotes and distribute them to the sales teams, channel partners and customers. The Company also offers a business analytics team that provides analysis for recurring revenue performance and provides insight into end customers, competitors and channel partners. For the data services, the Company offers data teams that prepare renewals data from disparate sources. The data teams merge and cleanse data, and analyze data quality to track improvement.
ServiceSource International Inc
634 2nd St
SAN FRANCISCO CA 94107-2015