ServiceSource® (Nasdaq: SREV), the global leader in recurring revenue management, today announced plans to expand its global operations footprint with the opening of a new sales delivery center in Japan. ServiceSource expects to create over 150 jobs by 2015, harnessing local talent to drive recurring revenue for high-profile technology clients across the region. Located in the Aoyama area of Tokyo, the strategic sales center will open in August with a staff of thirty professionals, serving leading technology clients such as Red Hat and Polycom. The center is expected to grow rapidly with sustained expansion as ServiceSource focuses on the Japanese market. The sales center will be led by industry expert Keni Muto, Japan Country Manager. With over ten years experience in management consultancy in Japan he will lead regional growth, including attracting, developing and investing in local talent. Commenting on his appointment Muto observed, “Given that Japan is the second largest IT market in the world, our sales center will offer specialized, in-country expertise to tap this rapidly growing market. Today’s announcement is good news for our customers not only in Asia-Pacific and Japan, but globally. By opening this new center, ServiceSource will be ideally positioned to drive recurring revenue strategies for all our clients – enabling us to continue investing in the region and in the local workforce.” Martin Moran, SVP and Managing Director of International, ServiceSource commented, “We have seen consistent double digit growth in our Japanese business, which represents around twenty per cent of our Asia-Pacific and Japan business. To date, we have been servicing our Japanese clients from our Singapore sales center. With this growing demand, we believe the time is right to provide more localized services.” Moran added, “We know that the Japanese market is receptive to innovative companies and our aim is to help customers grow their recurring businesses not only through our managed services model but also through Renew OnDemand, the only cloud application built specifically to grow recurring revenue. Renew OnDemand is built for the language and currency requirements of the Japanese market. Japan is advanced in the area of recurring revenue, having renewal rates that are generally seven to ten percent higher than the rest of Asia. We are confident that this region will become the leading light in the industry and a measure of best practice.”
The new center will add to ServiceSource’s global network of 7 sales centers, supporting over $9 billion under management for customers in more than 150 countries and 40 languages. ServiceSource works with 7 of the top 10 Fortune 100 technology companies.About ServiceSource ServiceSource International, Inc. (NASDAQ: SREV) is the global leader in recurring revenue management. Renew OnDemand™, the only cloud application built specifically to grow recurring revenue, automates a highly valuable but typically manual business process. By leveraging big data to give companies a complete view of their customers, Renew OnDemand and our proven services drive higher subscription, maintenance, and support revenue, improved customer retention, and increased business predictability. With over a decade of experience focused exclusively on growing recurring revenue, ServiceSource's products and services are based on proven best practices and global benchmarks. Headquartered in San Francisco, ServiceSource® manages over $9 billion in recurring revenue for the world’s largest and most respected technology companies. ServiceSource renews a customer contract every 47 seconds through engagements in more than 150 countries and 40 languages. 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 and their impact on customer renewal rates, including our managed services and our Renew OnDemand Cloud platform and application. 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, the risk of material defects or errors in the Company's software offerings; the ability to integrate Renew OnDemand with other third-party applications used by our customers; 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; errors in estimates as to the renewal rate improvements and/or service revenue we can generate for our customers; demand for our offering that falls short of expectations; 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. Connect with ServiceSource: http://www.facebook.com/ServiceSource http://twitter.com/servicesource http://www.linkedin.com/company/servicesource http://www.youtube.com/user/ServiceSourceMKTG 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.