|Description||Service Revenue Performance|
ServiceSource is the service revenue performance company.
ServiceSource is the leader in service revenue management, providing solutions that drive renewals of maintenance, support and subscription agreements for technology companies. Our integrated solution consists of a suite of cloud applications, dedicated service sales teams working under our customersâ€™ brands and a proprietary Service Revenue Intelligence Platform. By integrating software, managed services and data, we provide end-to-end management and optimization of the service contract renewals process, including data management, quoting, selling and service revenue business intelligence. Our business is built on our pay-for-performance model, whereby customers pay us based on renewal sales that we generate on their behalf. As of December 31, 2010, we managed over 100 engagements across more than 55 customers, representing over $5 billion in service revenue opportunity under management.
We deploy our solution through offerings that provide end-to-end management of the renewals process or that are tailored to address specific challenges of this process. Our highly scalable solution allows us to sell in over 30 languages from six sales centers around the globe on behalf of industry leaders across technology and technology-enabled healthcare and life sciences industries, including hardware, software and software-as-a-service. Working closely with our customers using our cloud-enabled solution, we have helped our customers increase recurring service revenue renewal rates on average by more than 15 percentage points.