ServiceSource® (NASDAQ: SREV) and Aria Systems today announced a strategic partnership to help companies with subscription and cloud offerings maximize their recurring revenue with high touch sales, actionable analytics, and automated transaction management. The partnership will combine ServiceSource’s Renew OnDemand™ data management and renewal sales automation and analytics capabilities with Aria’s recurring revenue commerce hub that provides billing and other business management services.
Today, many B2B companies are shifting their business models to support the emerging Recurring Revenue Economy. This shift includes offering a range of business models including subscriptions, usage and pre-paid pricing. In addition, these new models lower customer switching costs while increasing the risk of churn. As such, companies must continuously engage with their customers, demonstrate the ongoing value of a product or service, and ensure long-term customer success. ServiceSource and Aria give companies the flexibility to try different monetization strategies and combine them with tailored customer engagement programs.
Aria and ServiceSource each bring over a decade of experience in cloud-based recurring revenue management, helping companies maximize ongoing sales activities and increase loyalty throughout the entire customer lifecycle. By combining Renew OnDemand, the only cloud application built specifically to grow recurring revenue, with Aria’s leading recurring revenue commerce capabilities, the joint solution will:
- Support new recurring revenue strategies: The partnership will provide one flexible solution for managing all customer transactions including new product sales, renewals, subscriptions and usage based fees – across any customer interaction channel.
- Streamline recurring revenue sales: Automate every step of the sales process including data and opportunity management, tailored offers and sales plays, and billing.
- Deliver increased levels of customer insight: Actionable recurring revenue metrics and analytics provide insight into renewal and operational performance, usage and billing data while identifying new opportunities for upsell and cross-sell.
“As a leader in recurring revenue solutions, Aria shares a common vision with ServiceSource,” said Mike Smerklo, Chairman and CEO of ServiceSource. “We’re excited about this partnership and the benefits it will bring to our customers. Together we will help companies accelerate their growth by improving their ability to sell, renew, monetize and transact with their subscription-based customers.”