ServiceSource Appoints Mario Faria As Chief Data Officer

ServiceSource® (NASDAQ: SREV), the global leader in recurring revenue management, today announced the addition of Mario Faria to the role of Chief Data Officer (CDO).

As ServiceSource’s first CDO, Faria will be in charge of building an industry-leading global data organization within the company. By leveraging big data, best practices and ServiceSource cloud technology, Faria’s team will help companies unlock the business value of customer data for their recurring revenue sales activities.

“When it comes to recurring revenue, data makes all the difference,” Faria said. “Most people don’t realize that it takes considerably more data to process a single renewal than it does a new sale. This data has to come from CRM, quoting, entitlement and ERP systems, just to name a few. ServiceSource delivers unique value by bringing this data together in just the right way, at the right time. With a new generation of data and analytics, we’ll enable customers to capture more recurring revenue, more efficiently, than they ever thought possible.”

Prior to joining ServiceSource, Faria served as Chief Data Officer for credit information services company Boa Vista, a subsidiary of Equifax. While at Boa Vista, Faria was the first Chief Data Officer in Latin America, where he focused on analytics, data science, data architecture, data management, data quality, data governance and operations. Earlier, Faria held senior management positions with IBM, Accenture, and Microsoft where his responsibilities included the South America region and the creation and management of new business units. He also serves as an advisor at the Technology Partner Network of the Bill and Melinda Gates Foundation.

Mario is a well-recognized speaker at Big Data and Analytics conferences and will be the keynote speaker at the 2 nd annual Big Data Business Forum on November 13 – 15 in San Francisco where he will discuss “Data Driven Business Attributes.”

“With the rapid shift to a Recurring Revenue Economy, businesses can no longer treat sales as one-time transactions. Sales now require regular engagement informed by a deep understanding of the customer’s changing needs,” said Mike Smerklo, CEO, ServiceSource. “Data is what makes that possible. Mario has led data initiatives at some of the world’s largest companies and advised at one of the world’s most prominent public-service organizations. He has a deep understanding of how big-data can help organizations connect more thoughtfully and effectively with the people most important to them. I am delighted to have him lead our efforts in this exciting and important part of our business.”

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 the Cloud Corridor of 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, 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 the 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.

Copyright Business Wire 2010

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