ServiceSource® (NASDAQ:SREV), the global leader in recurring revenue and customer success management, today announced the release of its Revenue Lifecycle Management Maturity Model. As part of an emerging segment within customer lifecycle management (CLM), the Revenue Lifecycle Management Maturity Model provides a framework for helping companies continuously improve their customer retention and recurring revenue growth efforts.
The model was developed based on more than 15 years of expertise in analyzing, benchmarking and delivering revenue lifecycle solutions to leading global enterprises such as Adobe (NASDAQ:ADBE). Using this framework, companies can understand their unique revenue lifecycle ‘fingerprint,’ based on a variety of factors including the size of their customer base, the complexity of their products and solutions, existing renewal rates and competitive market dynamics.
“Enterprises have been, and will continue to focus more on the customer experience to capitalize on recurring revenue opportunities,” said Rob Brothers, Program Director for IDC’s Software and Hardware Support Services. “Management of recurring revenue is a necessary investment, and utilizing ServiceSource’s revenue lifecycle maturity model can help streamline business processes to take full advantage of that very profitable annuity stream.”
By applying the lens of this Revenue Lifecycle Maturity Model, businesses can more effectively uncover hidden opportunities and challenges in the revenue lifecycle, including manual sales processes and engagement approaches, fragmented data, highly administrative processes with limited selling and support, and non-optimized systems.
The model ranges across five levels of maturity, defined as opportunistic, emerging, disciplined, optimized and strategic. This model also scores each company on their level of maturity across the five key lenses needed to understand revenue lifecycle maturity, including technology, data, KPIs, people and process.
“By providing a framework for companies to assess their Revenue Maturity level, ServiceSource is enabling enterprises to better create a holistic CLM approach that is shown to increase recurring revenue,” said Christopher Carrington, CEO of ServiceSource. “Once we have an in-depth look into the maturity of a company’s revenue lifecycle, we’re then able to apply best-practice and technology-enabled processes to increase their recurring revenue and customer retention.”
Today, ServiceSource also announced findings of a recent benchmarking study showing the strong link between investments made in improving revenue lifecycle maturity and achieving higher renewal rates and increased recurring revenue. Details of this study can be found here: http://bit.ly/rlmbmreq.
For more information on the survey results, as well as the Revenue Lifecycle’s impact on CLM, download the whitepaper here: http://bit.ly/rlmstudywp15. You can also register for the live webinar here: http://bit.ly/rlmmwbnr.
ServiceSource (NASDAQ:SREV) provides the world’s leading B2B companies with expert managed services, cloud software and best-practice processes proven to increase customer success, drive revenue growth and decrease churn from existing customers. ServiceSource’s solutions help companies with onboarding and adoption, upsell and cross-sell, retention and renewals—the entire revenue lifecycle. Only ServiceSource brings to market more than 15 years of exclusive focus on customer success and revenue growth, global deployments across 40 languages and 150 countries, and a powerful, purpose-built recurring revenue technology platform. Thanks to ServiceSource, another customer is renewed every 47 seconds. For more information, go to www.servicesource.com.
This press release contains forward-looking statements, including statements regarding the benefits of ServiceSource offerings, our managed services and/or our cloud platform and 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 our SaaS offerings and the ability to integrate such offerings 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 our SaaS solutions 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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