SAN FRANCISCO, USA: ServiceSource, the global leader in recurring revenue management, today announced that it has acquired Scout Analytics, the predictive analytics provider for subscription businesses. With more than $3.5 billion of recurring revenue under management, Scout Analytics extends ServiceSource's reach into new markets while increasing its footprint to now $14 billion under management across more than 200 customer engagements.
Recurring revenue is fast becoming a critical function for every company, spanning new subscription and cloud-based businesses, as well as established industries such as hardware, software, healthcare and industrials.
Scout from Scout Analytics analyzes customers' subscription usage, spending, and other behaviors to align product and account management strategies and drive recurring revenue activities.
ServiceSource plans to significantly invest in Scout Analytics' business with additional R&D, sales and customer support resources.
The deal enables ServiceSource to deliver real financial benefits to current and prospective customers. Scout brings powerful capabilities for software-as-a-service (SaaS) customers to proactively identify at-risk customers, optimize pricing and packaging, and increase up-sell, cross sell and renewal rates.
Currently, Scout Analytics analyzes usage from more than 25 million subscription users on more than 400 million devices daily for customers across the SaaS, information services and digital media industries. By expanding into these vertical industries, ServiceSource roughly doubles its addressable market to now over $600 billion in recurring revenue opportunities.