SAN FRANCISCO--(BUSINESS WIRE)--ServiceSource® (NASDAQ: SREV), the global leader in recurring revenue management, and the Technology Services Industry Association (TSIA), today announced the availability of a joint whitepaper on the importance of consumption analytics in successfully managing recurring revenue growth.
The whitepaper, titled “Consumption Analytics Are Critical for Recurring Revenue Growth,” showcases how technology providers must become experts at monitoring consumption in order to gauge customer success and ensure their products are delivering value. The paper also highlights ServiceSource’s January 2014 acquisition of Scout Analytics as a major proof point of this concept. The companies will also host a joint webinar on the topic, titled “What Usage Analytics Reveals About Customers to Drive Growth,” on May 15, 2014.
TSIA’s 8th annual 2014 Global Technology Survey introduced new consumption analytics and recurring revenue management categories. The report recognized consumption monitoring/analytics as a key piece of a shift toward outcome-based services, and recurring revenue management for enabling service professionals to automate renewals and analytics that predict likelihood of renewal and manage profitable contract/maintenance programs. In fact, the survey found that 34% of organizations allocated technology budget to consumption analytics, and 39% to recurring revenue management for the 2014-2015 fiscal year.
“A fundamental change is happening within technology firms where there is a shift from being paid solely to deliver products, to being paid based on delivering value,’” said J.B. Wood, president and CEO of TSIA. “Because of this shift, technology-enabled companies must become experts very quickly on exactly how customers are consuming their products and services. Measuring and monitoring consumption requires that technology suppliers learn to answer an entirely new set of questions.”
“For the first time, we are breaking out recurring revenue and consumption analytics as critical investment categories,” said John Ragsdale, vice president of technology and social research for TSIA. “As companies increasingly make the shift to recurring revenue and cloud-based business models, they require new technologies, solutions, and analytics to retool their existing sales infrastructures. By offering a comprehensive portfolio recurring revenue and consumption analytics solutions and managed services, ServiceSource is today playing a pivotal role in this transformation for many leading business-for-business (B4B) companies.”
To educate organizations on the importance of consumption analytics in recurring revenue growth, TSIA and ServiceSource will introduce the following resources:
Whitepaper: “Consumption Analytics Are Critical for Recurring Revenue Growth”
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When: |
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Authors: |
TSIA and ServiceSource | |
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In a cloud economy, measuring and guaranteeing consumption across the customer lifecycle is required for success. In this age, enterprise software implementations are no longer paid for up-front. Rather, customers pay for the ongoing value derived through a per-user or monthly rental fee. If a customer does not receive the anticipated value, they don’t pay the ongoing fee. |
This approach shifts the risk from the technology buyer to the technology supplier, who must—often for the very first time—be deeply invested in ongoing customer success. The whitepaper will discuss shifting service strategy from “launch to leave” to outcome-based, creating the infrastructure for outcome-based services, and case studies of consumption analytics in action.
Webcast: “What Usage Analytics Reveals About Customers to Drive Growth”
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When: |
Thursday, May 15, from 8-9 a.m. PT | ||
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Speakers: |
J.B. Wood, president & CEO of TSIA | ||
| Matt Shanahan, vice president of product strategy at Scout by ServiceSource | |||
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Registration: |
To register, please fill in this brief online form. |
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Achieving customer success is dependent on measuring and guaranteeing consumption across your customer’s lifecycle. Gone are the days when you paid for a technology service up front. Today, customers expect to receive ongoing value from their cloud-based services. The value is now derived from per-use or monthly fees, which shifts the risk from the technology buyer to the technology supplier. In this webcast, TSIA CEO and president J.B. Wood, and Matt Shanahan, vice president of product strategy at Scout by ServiceSource, will explore what technology companies can do to drive recurring revenue growth across the customer lifecycle. |
About ServiceSource
ServiceSource International, Inc. (NASDAQ: SREV) is the global leader in cloud-based recurring revenue management solutions. The company helps customers drive growth and build long-standing relationships across the customer lifecycle with the industry's most comprehensive data management, analytics, automation and services capabilities. Through Renew OnDemand™, Scout® and proven services, ServiceSource delivers higher subscription, maintenance, and support revenue, improved customer retention, and increased business predictability. Headquartered in the Cloud Corridor of San Francisco, ServiceSource® manages $14.5 billion in recurring revenue for the world's largest and most respected technology and B2B companies. For more information, please go to www.servicesource.com.
About TSIA
The Technology Services Industry Association (TSIA) is the world's leading organization dedicated to advancing the business of technology services. Technology services organizations large and small look to TSIA for world-class business frameworks, best practices based on real-world results, detailed performance benchmarking, exceptional peer networking opportunities, and high-profile certification and awards programs. TSIA corporate members represent the world’s top technology companies as well as scores of innovative small and midsize businesses in four major markets: enterprise IT & telecom, consumer technology, healthcare & healthcare IT, and industrial equipment & technology. TSIA’s editorial blog, Inside Technology Services, is widely recognized by technology service professionals for providing thought leadership and insights into industry trends and best practices. Visit us at www.tsia.com, follow us on Twitter @TSIACommunity, link to us on LinkedIn, Google us, or like us on Facebook and the TSIA Books Facebook page.
Forward-Looking Statements
This press release contains forward-looking statements, including statements regarding the benefits of ServiceSource offerings, our managed services, our Renew OnDemand cloud platform and application, and/or our Scout application. 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 those expressed or implied in our forward-looking statements. Those risks and uncertainties include, without limitation, fluctuations in our quarterly results of operations; the risk of material defects or errors in our software offerings or their failure to meet customer expectations; migrating customers to Renew OnDemand; the ability to integrate Renew OnDemand or Scout with other third-party applications used by our customers; errors in estimates as to the renewal rate improvements and/or service revenue we can generate for our customers; our ability to grow the market for service revenue management; our ability to protect our intellectual property rights; the risk of claims that our offerings infringe the intellectual property rights of others; changes in market conditions that impact our ability to sell the Renew OnDemand or Scout solution and/or generate service revenue on our customers' behalf; the possibility that our estimates of service revenue opportunity under management and other metrics may prove inaccurate; demand for our offering that falls short of expectations; our ability to keep customer data and other confidential information secure; our ability to adapt our solution to changes in the market or new competition; 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 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.
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Trademarks
ServiceSource, Renew OnDemand, Scout 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.