It’s hard to believe that almost a year ago this week ServiceSource became a publicly traded company (March 24th, 2011). Our journey did not end with the IPO – in fact, we continued to demonstrate strong financial results each subsequent quarter, which is a true testament to the drive and passion of the people that work at ServiceSource.
If the customer logos on our walls are any indication, it’s increasingly apparent to me that putting an infrastructure in place to manage and optimize recurring service revenue has become top of mind with some of the world’s leading brands. Google, IBM, HP, Dell and VMware are just some of the tech giants that have partnered with ServiceSource. What’s more, we’ve seen vertical expansion into building and industrial systems via new customer Johnson Controls and new healthcare and life sciences customers like Carestream and Cardiac Science.
What does each company have in common? They have developed new recurring revenue streams, increased renewal rates by an average of 15% and leveraged the savings to fuel research and development (R+D) that will enable them to stay competitive in their respective markets.
The choice to put strategy and rigor around service renewals is inevitable–and the inevitable choice is ServiceSource.
The power of the ServiceSource brand has never been stronger. Here are a few highlights of the past year:
- One of the top performing IPOs of 2011
- Crossed the 100+ customer-engagement mark that feature partners like Google, IBM, Roche, Dell, HP, SuccessFactors and others
- Expansion into new vertical markets, including healthcare and building/industrial systems
- Launched a vision for ServiceSource’s new technology platform (to be launched this Fall)
- Strong growth across the global and an expanded presence in Nashville, Tennessee; Denver, Colorado and Liverpool, England
- ServiceSource recognized as one of the National Association for Business Resources’ 101 Best and Brightest Companies to Work For in 2011
- ServiceSource placed in the 2011 Russell 3000 Index
We are poised for growth in 2012, supported by our employees, customers, partners and others who have helped lay the foundation for success. Keep checking back to our blog for more updates on company news, and click here to learn more about our ServiceSource Summit later this Fall.