New Constructs Taps ServiceSource To Drive Customer Engagement And Boost Customer Lifetime Value

ServiceSource® (NASDAQ: SREV), the global leader in recurring revenue management, today announced that New Constructs, a leading investment analyst firm and service, has selected ServiceSource to drive growth and customer success for its subscription research service. Leveraging its managed services, ServiceSource will sell annual subscriptions for New Constructs’ online research to over 490,000 registered financial advisors in North America. As new clients are onboarded, ServiceSource will manage key activities across the customer lifecycle including adoption, retention and subscription renewals.

Founded in 2002, New Constructs provides investment ratings on over 3,000 stocks, 400 exchange-traded funds (ETFs) and 7,000 mutual funds. The firm’s patented online research platform analyzes publicly available financial data and information hidden deeply in the footnotes for meaningful or negative financial data. Through this analysis, New Constructs has produced insightful research that minimizes market risk and maximizes reward for stocks, ETFs or mutual funds. New Constructs has been regularly featured on CNBC, USA Today, CBS MarketWatch, The Wall Street Journal and Businessweek.

“In today’s information saturated marketplace, investors have a lot of options when selecting a financial advisory service,” said David Trainer, President and CEO of New Constructs. “To stand out and drive growth, our primary goal is to consistently provide the most accurate information to our clients. Our partnership with ServiceSource will drive new levels of engagement to ensure that our clients exploit the full potential of the New Constructs research platform and ultimately make more informed investment decisions and fulfill fiduciary responsibilities.”

ServiceSource will provide the following managed services specializing in recurring revenue and customer success:
  • Acquisition services for selling annual New Constructs subscriptions and online reports across phone, email and digital marketing channels.
  • Onboarding and adoption services for customers to realize the full value of their subscription by helping them understand, setup, and start using the New Constructs research platform.
  • Renewal services for renewing ongoing subscription agreements and driving growth through cross-sell and upsell opportunities.

“New Constructs is a perfect example of a high growth business that requires a comprehensive customer engagement strategy across every phase of the lifecycle,” said Jay Ackerman, Head of Worldwide Sales and Customer Success at ServiceSource. “With a feature-rich service, New Constructs must demonstrate the value – early and often – to ensure customer adoption, retention and expansion. We’re excited about our partnership with New Constructs and that ServiceSource’s technology and managed services will be a driving force for the company’s long-term growth strategy.”

About ServiceSource

ServiceSource 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.

Copyright Business Wire 2010

More from Press Releases

NFL Pushes for Regulation Following Supreme Court's Sports Gambling Ruling

NFL Pushes for Regulation Following Supreme Court's Sports Gambling Ruling

21st Century Fox Scoops Up Local News Stations

21st Century Fox Scoops Up Local News Stations

Walmart CEO: 'We Are Transforming Globally' With Flipkart

Walmart CEO: 'We Are Transforming Globally' With Flipkart

Three-Part FREE Webinar Series

Three-Part FREE Webinar Series

March 24 Full-Day Course Offering: Professional Approach to Trading SPX

March 24 Full-Day Course Offering: Professional Approach to Trading SPX