From the Wires
ServiceSource Ranked One of the Fastest Growing Companies in North America on Deloitte's 2012 Technology Fast 500(TM)
Attributes 173 Percent Revenue Growth to Customer Adoption of World's Only Cloud Application Suite Built Specifically to Maximize Recurring Revenue
By: Marketwired .
Nov. 14, 2012 08:15 AM
SAN FRANCISCO, CA -- (Marketwire) -- 11/14/12 -- ServiceSource® (NASDAQ: SREV), the global leader in recurring revenue management, today announced that it was named to Deloitte's Technology Fast 500, a listing of the 500 fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America.
ServiceSource grew 173 percent during the timeframe used to rank the companies. Mike Smerklo, ServiceSource Chairman of the Board and CEO, credits the growth to the company's commitment to the cloud and next-generation technology used by leading tech-enabled companies to maximize important recurring revenue streams.
"We're honored to be included in this prestigious list, which is validation of the industry's growing awareness of the need to maximize recurring revenue and our expertise in meeting that demand," said Smerklo. "As the trend toward cloud-based business models continues across more markets, ServiceSource is well-positioned to offer our solution to more companies around the world."
"We are proud to honor the 2012 Technology Fast 500 companies, and commend them for their outstanding growth," said Eric Openshaw, vice chairman, Deloitte LLP and U.S. technology, media and telecommunications (TMT) leader. "These ground-breaking companies have outpaced their competition and are reinventing the way we do business today."
Click here to learn more about Deloitte 2012 Technology Fast 500 award.
"The companies on the Fast 500 list are among those that have demonstrated remarkable innovation, creativity and business savvy," said Bill Ribaudo partner, Deloitte & Touche LLP and national TMT leader for audit and enterprise risk services (AERS). "As a result, these companies have continued to successfully forge ahead in a challenging economic environment. We applaud the leadership and employees of ServiceSource for this impressive accomplishment."
About Deloitte's 2012 Technology Fast 500
Technology Fast 500, conducted by Deloitte & Touche LLP, provides a ranking of the fastest growing technology, media, telecommunications, life sciences and clean technology companies -- both public and private -- in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2007 to 2011.
In order to be eligible for Technology Fast 500 recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company's operating revenues. Companies must have base-year operating revenues of at least $50,000 USD or CD, and current-year operating revenues of at least $5 million USD or CD. Additionally, companies must be in business for a minimum of five years, and be headquartered within North America.
About ServiceSource, Inc.
ServiceSource is the global leader in recurring revenue management. The world's most successful companies rely on us to maximize subscription, maintenance and support revenue, improve customer retention and increase business predictability and insight. ServiceSource delivers results with Renew OnDemand, the world's only cloud application built specifically to manage and grow recurring revenue, which can be combined with our industry-leading services and unique pay-for-performance model.
With over a decade of experience focused exclusively in growing recurring revenue, our services and applications are based on proven best practices and global benchmarks. The company is headquartered in San Francisco, and has over $7 billion under management for customers in more than 150 countries and 40 languages.
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.
For more information on ServiceSource, visit http://www.servicesource.com. To connect with ServiceSource, visit us on Twitter, Facebook, LinkedIn and YouTube.
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