ServiceSource (NASDAQ: SREV), the global leader in outsourced inside sales, customer success and recurring revenue growth and retention solutions, today announced a multi-year contract extension and expansion with Mitel (NASDAQ: MITL) (TSX:MNW), a global leader in business communications.
This agreement, which runs through 2020, broadens the scope of a nearly 10-year partnership between ServiceSource and Mitel and reflects the positive revenue and customer impact that ServiceSource has helped Mitel achieve. As part of this extension, ServiceSource will leverage its nearly 20 years of renewals experience and expertise to manage customer retention and channel partnerships across Mitels global, on-site product line.
Businesses rely on their communications technology to help carve out a competitive advantage, whether they are looking to increase productivity, or deliver a better customer experience, said Todd Abbott, Executive Vice President of Global Sales & Services, at Mitel. Our solutions enable them to do so with ease, while accommodating their current and future requirements. As Mitel partners work with customers to continue serving those needs, the consolidation of our renewal business with ServiceSource will simplify and streamline the process to better support retention and identify growth opportunities.
In todays digital economy, the companies that win over the long-term will be those that continually adapt and evolve their customer engagement and retention strategies, said Christopher M. Carrington, CEO of ServiceSource. Since beginning our partnership with Mitel nearly a decade ago, we have continuously applied our expertise and knowledge to retain and expand their revenue base. We thank Mitel for their partnership and are pleased to extend our relationship as we further build on the success we have attained together.
A global market leader in business communications powering more than two billion business connections, Mitel (Nasdaq:MITL) (TSX:MNW) helps businesses and service providers connect, collaborate and provide innovative services to their customers. Our innovation and communications experts serve more than 70 million business users in more than 100 countries. For more information, go to www.mitel.com and follow us on Twitter @Mitel.
ServiceSource International, Inc. (NASDAQ:SREV) helps the worlds leading brands grow closer to their customers. As a global leader in outsourced inside sales, customer success and recurring revenue growth and retention solutions, ServiceSource expands customer lifetime value by helping companies to more efficiently and effectively find, convert, grow and retain their B2B customer relationships. Trusted by global market leaders in the cloud/XaaS, software, technology hardware, medical device & diagnostic equipment and industrial IoT sectors, ServiceSource sells, manages or renews $9 billion of revenue annually on behalf of its clients. Leveraging a robust technology suite, predictive data models and more than 3,000 revenue delivery professionals speaking 45 languages, only ServiceSource brings to market nearly 20 years of expertise and the ability to drive recurring revenue growth to more than 170 countries. To learn more, visit www.servicesource.com.
This press release contains forward-looking statements, including statements regarding our ability to: accelerate our clients ability to reach their goals more quickly and cost-effectively and find, convert, grow, and retain their customers; accelerate revenue and growth; have a significant impact on our clients business; and further increase customer engagement and loyalty. 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 our forward-looking statements. Those risks and uncertainties include: that we may be unable to attract and retain the highly skilled employees we need to support our planned growth; changes in market conditions that impact our ability to sell our solutions and/or generate service revenue on our customers’ behalf; our ability to achieve our expected benefits from international expansion; 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 https://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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