ServiceSource Recognized by Top Analyst Firm as a Leading SaaS Company
Montclair Advisors' 2012 Global SaaS Top 250 Is Latest Honor in a Year of Market Validation for ServiceSource
SAN FRANCISCO, CA -- (Marketwire) -- 12/04/12 -- ServiceSource® (NASDAQ: SREV), the global leader in recurring revenue management, today announced it was named to Montclair Advisors' 2012 Global SaaS Top 250 company list. The announcement is the latest in a string of awards for ServiceSource in 2012 that includes Deloitte's Technology Fast 500, Software Magazine's Software 500 and the Frost & Sullivan Excellence in Growth Awards. ServiceSource credits the momentum in industry recognition to strong customer interest for its cloud application solution.
Adobe, Juniper Networks, Pitney Bowes Software, Red Hat and VMware are among a growing list of industry leaders that use ServiceSource software and managed services to increase customer retention, deepen installed base intelligence and drive higher recurring revenues. Of the technology-based companies on the Fortune 100, seven of the top eight rely on ServiceSource.
"There is undeniable momentum in the industry for ServiceSource as a leading technology company," said Mike Smerklo, Chairman of the Board and CEO, ServiceSource. "We've established ourselves as a key player in the rapidly growing ecosystem of SaaS companies that work together to offer customers greater insight, control and value."
Advancing its technology platform, ServiceSource recently launched Renew OnDemand, the first cloud application purpose-built to maximize recurring revenue. Renew OnDemand includes all of the tools, insights and best practices needed to maximize the renewal of subscriptions, maintenance and support contracts.
Following its debut in 2010, Montclair Advisors SaaS Top 250 list has provided a comprehensive view of the leading companies of all sizes that make up today's dynamic cloud-based software market. The list has increased in popularity among software executives, investors and analysts.
"We are pleased to have named ServiceSource to the SaaS Top 250 List," said Kevin Dobbs, Managing Partner at Montclair Advisors. "The growth of the SaaS business at ServiceSource over the past few years has truly been impressive, demonstrating a clear need in the market for innovative ways to maximize the recurring revenue that is critical to the growth of any business."
About Montclair Advisors
Montclair Advisors provides customized Software-as-a-Service advisory services designed to help SaaS-based and non-SaaS-based software companies optimize their business models, improve revenues, control costs and deliver world-class software. Montclair develops the leading report on the top 250 SaaS companies globally and provides strategic expertise trusted by industry leaders. The firm offers valuable perspectives and a focused set of SaaS-related service solutions including strategy, revenue, and products. The result allows software companies to improve competitiveness, revenue performance and profitability. For more information, visit Montclair Advisors at http://www.montclairadvisors.com and follow our Smart SaaS blog at http://www.montclairadvisors.com/blog
ServiceSource is the global leader in recurring revenue management. The world's most successful companies rely on us to maximize subscription, maintenance and support revenue, improve customer retention and increase business predictability and insight. ServiceSource delivers results with Renew OnDemand, the world's only cloud application built specifically to manage and grow recurring revenue, which can be combined with our industry-leading services and unique pay-for-performance model.
With over a decade of experience focused exclusively in growing recurring revenue, our services and applications are based on proven best practices and global benchmarks. The company is headquartered in San Francisco, and has over $7 billion under management for customers in more than 150 countries and 40 languages.
ServiceSource, Renew OnDemand 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.
For more information on ServiceSource, visit http://www.servicesource.com. To connect with ServiceSource, visit us on Twitter, Facebook, LinkedIn and YouTube.
This press release contains forward-looking statements, including statements regarding our Renew OnDemand Cloud platform and application, its capabilities, its overall benefits to customers, market demand for the offering, and its ease of integration with other third-party applications that our customers use. 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, the risk of material defects or errors in the Company's software offerings; the ability to integrate Renew OnDemand with other third-party applications used by our customers; 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 solution and/or 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; demand for our offering that falls short of expectations; 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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