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Partnership Between GE and ServiceSource Expanded Across ASEAN, Australia/New Zealand

Tue, 06/26/2012 - 4:45am
The Associated Press

(http://www.servicesource.com)

ServiceSource@(http://ctt.marketwire.com/?release=903326&id=1753372&type=1&url=http%3a%2f%2fwww.servicesource.com%2f)

(NASDAQ: SREV), the global leader in Service Revenue

Management(http://ctt.marketwire.com/?release=903326&id=1753375&type=1&url=http%3a%2f%2fwww.servicesource.com%2fsolutions%2fsolution-overview.html),

today announced that GE

Healthcare(http://ctt.marketwire.com/?release=903326&id=1753378&type=1&url=http%3a%2f%2fwww.gehealthcare.com%2fworldwide.html)

(NYSE: GE) has expanded its partnership with ServiceSource in

Asia-Pacific to drive renewal of recurring service contracts for both

small and large scale medical equipment. GE will leverage more of the

ServiceSource suite of cloud-based applications and additional sales

experts across ASEAN and Australia/New Zealand working in five (5)

different languages.

With the healthcare industry experiencing significant growth in Asia,

GE Healthcare needed a way to both drive more recurring service

revenue and to gain more control, insight and visibility into its

installed base. Life support systems, health monitoring devices,

ultrasound machines, X-rays and advanced CT equipment are just some of

the critical medical functions that GE delivers to its customers. The

ServiceSource end-to-end solution is comprised of a suite of cloud

applications and a specialized sales team that complement GE's own

professional sales force.

"The partnership with ServiceSource allows us to focus our efforts on

strategic selling and enables us to provide greater support to our

customers," said Sven Henrichwark, General Manager, Asia Pacific, GE

Healthcare Services. "By working closely with GE sales professionals,

ServiceSource is helping our teams to better capture revenue

opportunities in real-time and reduce any lost revenue performance

from our installed base in the region."

"We are delighted to have the opportunity to continue our partnership

with GE Healthcare in the fast-growing Asian market," said Basheer

Cassim, Senior Vice President and Managing Director, Asia Pacific &

Japan, ServiceSource. "Using a combination of cloud-powered services

and a highly skilled team of sales experts, GE has been able to

optimize its recurring service revenue and deliver greater customer

satisfaction to customers throughout the APAC region."

About GE HealthcareGE Healthcare provides transformational medical

technologies and services that are shaping a new age of patient care.

Our broad expertise in medical imaging and information technologies,

medical diagnostics, patient monitoring systems, drug discovery,

biopharmaceutical manufacturing technologies, performance improvement

and performance solutions services help our customers to deliver

better care to more people around the world at a lower cost. In

addition, we partner with healthcare leaders, striving to leverage the

global policy change necessary to implement a successful shift to

sustainable healthcare systems.

Our "healthymagination" vision for the future invites the world to

join us on our journey as we continuously develop innovations focused

on reducing costs, increasing access and improving quality around the

world. Headquartered in the United Kingdom, GE Healthcare is a unit of

General Electric Company (NYSE: GE). Worldwide, GE Healthcare

employees are committed to serving healthcare professionals and their

patients in more than 100 countries. For more information about GE

Healthcare, visit our website at

www.gehealthcare.com(http://ctt.marketwire.com/?release=903326&id=1753381&type=1&url=http%3a%2f%2fwww.gehealthcare.com%2f).

About ServiceSourceServiceSource is the global leader in service

revenue management, partnering with technology-based companies to

optimize maintenance, support and subscription revenue streams, while

also improving customer relationships and loyalty. ServiceSource helps

customers increase service revenue contract renewal rates, on average,

by over 15 percentage points and, in some cases, up to 44 percentage

points(http://ctt.marketwire.com/?release=903326&id=1753384&type=1&url=http%3a%2f%2fir.servicesource.com%2freleasedetail.cfm%3fReleaseID%3d579018).

ServiceSource delivers these results via a cloud-based solution,

combining its Service Revenue Performance Suite? of applications with

dedicated service sales teams, leveraging a proprietary Service

Revenue Intelligence Platform? of transaction data, benchmarks and

best practices. ServiceSource offers its service revenue management

solution on a unique pay-for-performance business model that enables a

success-driven, shared-risk partnership. The Company is headquartered

in San Francisco, and manages service revenue performance for

customers across the globe in more than 35 languages.

ServiceSource 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

www.servicesource.com(http://ctt.marketwire.com/?release=903326&id=1753387&type=1&url=http%3a%2f%2fwww.servicesource.com%2f).

To connect with ServiceSource, visit us on

Twitter(http://ctt.marketwire.com/?release=903326&id=1753390&type=1&url=http%3a%2f%2fwww.twitter.com%2fservicesource),

Facebook(http://ctt.marketwire.com/?release=903326&id=1753393&type=1&url=https%3a%2f%2fwww.facebook.com%2fServiceSource),

LinkedIn(http://ctt.marketwire.com/?release=903326&id=1753396&type=1&url=http%3a%2f%2fwww.linkedin.com%2fcompany%2fservicesource)

and

YouTube(http://ctt.marketwire.com/?release=903326&id=1753399&type=1&url=http%3a%2f%2fwww.youtube.com%2fservicesourcemktg).

Forward-Looking StatementsThis press release contains forward-looking

statements, including statements regarding our ability to improve the

renewal rates and revenue results of our customers, and the benefits

of our cloud applications. These forward-looking statements are based

on the Company's 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, changes in

market conditions that impact our ability to generate service revenue

on our customers' behalf; errors in estimates as to the renewal rate

improvements and/or service revenue we can generate for our customers;

risks associated with material defects or errors in the Company's

software or the effect of data security breaches; our ability to adapt

our solution to changes in the market or new competition; our ability

to protect our intellectual property rights; 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 and can be obtained online at the Commission's

website at

http://www.sec.gov(http://ctt.marketwire.com/?release=903326&id=1753402&type=1&url=http%3a%2f%2fwww.sec.gov%2f).

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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