ServiceSource's Smart Move; Acquires Scout Analytics
SAN FRANCISCO: ServiceSource, a company dealing in recurring revenue management, has acquired Scout Analytics, the predictive analytics providing company for subscription business. The company’s smart move will strengthen it to venture into new markets.
The software from Scout Analytics tracks and analyzes the subscription usage, spending, and other patterns followed by the customer to provide information which companies can use to retain customers, manage accounts, and develop marketing strategies to sell more services to users. Currently, recurring revenue is growing and is fast becoming important for every company, be it hardware, software, cloud-based business, including healthcare. The predictive analytics firm, with its capabilities, allows SAAS enterprises identify at-risk customers; enhance packaging and pricing, and also increase up-sell, cross sell and renewal rates. Scout Analytics analyzes subscription usage of 25 million subscribers on more than 400 million devices in SaaS (software-as-a-service), information services, and digital media industries, for customers.
ServiceSource’s smart investment deal and with additional R&D in the predictive data analysis business will deliver financial benefits to current and prospective customers. The company’s recurring revenue market opportunities will also double to over $600 billion, with this acquisition. “Scout Analytics significantly expands our reach into the fast-growing SaaS market, while creating new opportunities in B2B subscriptions for information services and digital media. And, with the addition of sophisticated predictive analytics, we can give companies the required top-to-bottom view of their customers’ data to grow through recurring revenue,” said Mike Smerklo, Chairman and CEO, ServiceSource.
Media Partner: CIOReview | B2B Online 2020
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