Polycom to Use ServiceSource Renew OnDemand for Global Services Renewals

SAN FRANCISCO--(BUSINESS WIRE)--

ServiceSource® SREV, the global leader in recurring revenue management, today announced that Polycom will utilize Renew OnDemand™ to manage its global renewals business across its product portfolio. Renew OnDemand will consolidate and process the substantial volume of data produced by Polycom's customers into actionable analytics and workflows that drive renewal sales activities for the company's direct and indirect channel sales organizations around the world.

Polycom is the global leader in open, standards-based unified communications and collaboration (UC&C), with more than 415,000 customers and supported by thousands of global partners. As such, the company's recurring revenue business from voice and video services renewals is a key component within its revenue mix. With a significant customer base spanning an extensive product portfolio, Renew OnDemand will help Polycom manage its renewal service.

Renew OnDemand is the industry's only cloud application built specifically to maximize recurring revenue. With over $1 billion under management and growing, Renew OnDemand empowers sales teams, executives, and channel partners with a complete system to renew customer contracts and subscriptions. Renew OnDemand – in conjunction with ServiceSource's data services – will help Polycom maintain clean and lean customer data. With renewal-ready data to analyze, Renew OnDemand will then generate actionable workflows, quotes and reports – all through Polycom's existing CRM system – to support worldwide renewal sales.

“As a leader in delivering services to customers, Polycom understands the many critical factors that comprise a successful renewals business,” said Mike Smerklo, ServiceSource Chairman and CEO. “By leveraging the power of Renew OnDemand, Polycom is creating a world-class renewals environment that aligns people, process and technology across their global direct and channel sales teams.”

“Polycom is focused on delivering best-in-class services offerings that provide great value to our customers and revenue opportunities for Polycom,” said Chris Dickerson, Director of Services, Polycom. “ServiceSource helps make it easier for us to manage our renewal business, ensuring more of our customers are benefitting from ongoing services and support from Polycom.”

About ServiceSource

ServiceSource International, Inc. SREV is the global leader in cloud-based recurring revenue management solutions. The company helps customers drive growth and build long-standing relationships across the customer lifecycle with the industry's most comprehensive data management, analytics, automation and services capabilities. Through Renew OnDemand™, Scout® and proven services, ServiceSource delivers higher subscription, maintenance, and support revenue, improved customer retention, and increased business predictability. Headquartered in the Cloud Corridor of San Francisco, ServiceSource® manages $14.5 billion in recurring revenue for the world's largest and most respected technology and B2B companies. For more information, please go to www.servicesource.com.

Forward-Looking Statements

This press release contains forward-looking statements, including statements regarding the benefits of ServiceSource offerings, our managed services and our Renew OnDemand 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 Renew OnDemand and the ability to integrate Renew OnDemand 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 the Renew OnDemand solution 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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Trademarks

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.