ServiceSource® (NASDAQ: SREV), the global leader in recurring revenue management, today introduced Scout® Formulas, the industry’s first user-configurable analytics solution for sales, marketing and customer success teams to increase customer lifetime value. The new offering allows business users to create and deploy unique key performance indicators and rules (known as formulas) based on data aggregated from CRM, survey management, billing automation and other systems across the enterprise. Today, customer success, sales, and marketing departments require dynamic control of customer data to generate meaningful analytics that support their unique business requirements. Unfortunately, business users must rely on tailored customer analytics using error-prone and expensive Excel documents or spreadsheets. In fact, a recent Ventana Research report found that only 15 percent of organizations are fully satisfied with their customer analytics. The report identified numerous factors contributing to this dissatisfaction, including the use of spreadsheets by more than half of organizations (52%), with 57 percent agreeing that spreadsheets make it difficult to produce timely and accurate customer analytics. Scout Formulas eliminates the burden of managing data and calculations from multiple systems and spreadsheets. Leveraging comprehensive customer data with Scout® Hub, the leading predictive analytics platform, Scout Formulas allows business users to create customized key performance indicators and rules, or Formulas, which perform calculations or automate decision rules. Once created, a Scout® Formula for customers, subscriptions or users can be deployed and used across the organization in reports, dashboards, playbook automation, workflow and analysis tools. Typical use cases include:
- Customer Metrics and Functions (i.e. Customer Health Scores): a highly personalized customer health-monitoring capability that automatically triggers specific playbooks. Business users can perform calculations for customer lifetime value and health scoring, and gauge the performance and timeliness of specific playbooks.
- Subscription Metrics and Functions: allows business users to perform subscription level calculations for compliance, renewal pricing, billing and health scoring to automate usage charge billing and apply filters for a more efficient and streamlined renewal process.
- User Metrics and Functions: provides customizable fields for user-level calculations and automated triggers for personalized nurturing to increase loyalty, usage and customer lifetime value.
About ServiceSourceServiceSource International, Inc. (NASDAQ: 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, our Renew OnDemand cloud platform and application, and/or our Scout 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; the ability to integrate Renew OnDemand or Scout 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 or Scout 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. 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, Scout 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.