SAN FRANCISCO, CA--(Marketwire - Sep 19, 2012) - ServiceSource ® (
"The 2012 Software 500 results show that revenue growth in the software and services industry was again healthy, with total Software 500 revenue of $643.6 billion worldwide for 2011, representing approximately 17 percent growth from the previous year's list," says John P. Desmond, editor, Software Magazine.
"The Software 500 helps CIOs, senior IT managers, and IT staff research and create the short list of business partners," says Desmond. "It is a quick reference of vendor viability. And the online version, to be posted soon at www.softwaremag.com, is searchable by category, making it what we call the online catalog to enterprise software."
"ServiceSource has achieved significant advances in its own software, as demonstrated by the growing number of customers who choose our technology platform to boost their recurring revenue streams. We're honored to be included in the prestigious Software 500 list from Software Magazine," said Ganesh Bell, Chief Product Officer at ServiceSource.
The Service Revenue Performance Suite™ from ServiceSource is the only end-to-end suite of applications designed for service revenue management and delivered via the cloud. Because it's cloud-based, the solution provides rapid scalability and deployment with a low total cost of ownership. The Service Revenue Performance Suite is helping leading technology companies that include Adobe, Dell, GE, IBM, Microsoft, SuccessFactors, Roche and VMware transform their services business and optimize support, maintenance and subscription contract renewals.
The Software 500 is a revenue-based ranking of the world's largest software and services suppliers, targeting medium to large enterprises, their IT professionals, software developers, and business managers involved in software and services purchasing.
The ranking is based on total worldwide software and services revenue for 2011. This includes revenue from software subscription agreements, licenses, maintenance and support, training, and software-related services and consulting. Suppliers are not ranked on total corporate revenue, since many have other lines of business, such as hardware. The financial information was gathered by a survey prepared by Rockport Custom Publishing, LLC, and posted at www.softwaremag.com, as well as from public documents.
About ServiceSource, Inc.
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.
About Software Magazine and Rockport Custom Publishing
Software Magazine has been a brand name in the high-tech industry for more than 36 years. Softwaremag.com, its Web counterpart, is the online guide to enterprise software and the home of the Software 500 ranking of the world's largest software and services companies. Software Magazine and Softwaremag.com are owned and operated by Rockport Custom Publishing.
Rockport Custom Publishing is a leading integrated media company focusing on technology. For more information, visit: www.rockportpubs.com.
This press release contains forward-looking statements, including statements regarding 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. 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, risks associated with material defects or errors in the Company's software, 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; 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.