ServiceSource Supports Red Hat's Customer Retention Initiatives with Additional Revenue-as-a-Service Solutions

SAN FRANCISCO--(BUSINESS WIRE)--

ServiceSource SREV, the global leader in customer success and Revenue-as-a-Service solutions, today announced that Red Hat, the world's leading provider of open source solutions, has added new customer expansion capabilities to the existing renewal services ServiceSource currently provides.

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A ServiceSource client since 2010, Red Hat and ServiceSource have long collaborated on customer experience on a global scale. As part of the enhanced support, ServiceSource plans to enable Red Hat to optimize its customer lifecycle and high-value renewals. Specific services include onboarding and adoption support, as well as risk identification to increase customer retention.

"Red Hat and ServiceSource have enjoyed a strong collaboration over several years, growing in scope and in geographies," said Christopher M. Carrington, Chief Executive Officer of ServiceSource. "By adding customer onboarding, upsell and cross-sell services to our existing retention services, ServiceSource can drive successful business outcomes and deeper insights for Red Hat, enhancing their customer experience and driving lifetime value throughout the entire customer relationship."

"Customer success is a strategic initiative for Red Hat, and expanding our relationship with ServiceSource can help us with our efforts to optimize the customer experience," said Gabriel Szulik, vice president, Renewals Program, Red Hat. "With ServiceSource's expertise, processes, and technology, Red Hat can better provide our customers with a successful onboarding and overall experience with us. Our goal is to drive strong customer retention, while understanding customer needs."

To see how Red Hat created efficiencies in their sales organization with ServiceSource, watch the video case study here. To learn more about ServiceSource's Revenue-as-a-Service solutions, visit www.servicesource.com

About ServiceSource

ServiceSource SREV provides the world's leading B2B companies with expert, technology-enabled solutions and best-practice processes proven to grow and retain revenue from existing customers. With a holistic approach to the entire revenue lifecycle, ServiceSource solutions help companies drive customer adoption, expansion and renewal. Only ServiceSource brings to market more than 17 years of exclusive focus on customer success and revenue growth, global deployments across 40 languages and 200 countries, and a powerful, purpose-built Revenue Lifecycle Management technology platform. For more information, go to www.servicesource.com.

Forward-Looking Statements

This press release contains forward-looking statements, including statements regarding our business opportunities, challenges, and market position. 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; our technology; the risk of material defects or errors in our software offerings or their failure to meet customer expectations; the ability to integrate our technology 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; changes in market conditions that impact our ability to sell our 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; the potential effect of mergers and acquisitions on our customer base; 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; our ability to achieve our expected benefits from international expansion; our ability to protect our intellectual property rights; the risk of claims that our offerings infringe the intellectual property rights of others; 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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