SAN FRANCISCO, CA -- (Marketwire) -- 03/06/12 -- ServiceSource (NASDAQ: SREV), the global leader in Service Revenue Management, today announced that Mitel® (NASDAQ: MITL) has chosen ServiceSource to help manage its service renewals operations in North America and the United Kingdom. Mitel Communications Solutions is deploying the ServiceSource Analytics Cloud to deliver real-time global forecasting and reporting to support its renewals operations.
Within a single, cloud-ready software stream, Mitel delivers a suite of advanced communications and collaboration capabilities designed to address the needs of customers in over 100 countries in conjunction with more than 1,600 value-added resellers and partners. Mitel chose ServiceSource for its proven track record, ability to deliver best-in-class performance and robust data management capabilities.
"Effective lifecycle management of IT assets, such as a virtualized, unified communications software solution, is critical to business today," said Ron Wellard, executive vice president and general manager, Mitel Communications Solutions. "With ServiceSource, we can enhance our relationships with customers and partners and help them to maximize the value of their investment in our solutions."
Mitel looked to ServiceSource to strengthen its renewals operations in North America and the United Kingdom by leveraging its industry leading data management, dedicated sales teams, real-time analytics and forecasting technology. ServiceSource is providing Mitel with the critical information it needs to manage service operations effectively and to scale to meet growing global demand for products and services.
"Mitel is a leader in its industry and it is satisfying to see the impact our partnership can have in both the U.S. and the U.K.," said Mike Smerklo, chief executive officer, ServiceSource. "This relationship validates ServiceSource's ability to drive results for the communications industry and we're looking forward to implementing our real-time analytics and best practices to help drive significant increases within their renewals operations globally."
ServiceSource is the global leader in service revenue management, partnering with technology-based companies to optimize maintenance, support and subscription revenue streams, while also improving customer relationships and loyalty. ServiceSource helps customers increase service revenue contract renewal rates, on average, by over 15 percentage points and, in some cases, up to 44 percentage points. ServiceSource delivers these results via a cloud-based solution, combining its Service Revenue Performance Suite of applications with dedicated service sales teams, leveraging a proprietary Service Revenue Intelligence Platform of transaction data, benchmarks and best practices. ServiceSource offers its service revenue management solution on a unique pay-for-performance business model that enables a success-driven, shared-risk partnership. The Company is headquartered in San Francisco, and manages service revenue performance for customers across the globe in more than 35 languages.
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.
This press release contains forward-looking statements, including statements regarding the size of the market for service revenue management, our ability to improve the renewal rates and revenue results of our customers and their channel partners, and the overall benefits of our cloud applications such as our Channel Sales Portal. These forward-looking statements are based on the Company's current assumptions and beliefs, and involve risks and uncertainties that could cause our results to differ materially from those expressed or implied in our forward-looking statements. Those risks and uncertainties include, without limitation, errors in the estimated size of the market for service revenue management, changes in market conditions that impact our ability to generate service revenue on our customers' behalf; errors in estimates as to the renewal rate improvements and/or service revenue we can generate for our customers; risks associated with material defects or errors in the Company's software or the effect of data security breaches; our ability to adapt our solution to changes in the market or new competition; our ability to protect our intellectual property rights; 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 and can be obtained online at the Commission's website at http://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.