CHICAGO, IL -- (Marketwired) -- 05/23/13 -- BigMachines, the global leader in product configuration, pricing and quoting, proposal generation and B2B ecommerce, announced today it is a charter member of the Recurring Revenue Alliance, designed to help businesses generate revenue and increase customer retention by creating best practice-based recurring revenue solutions.
"Innovative companies continually approach BigMachines seeking ways to accelerate their revenue growth and do it in a way that drives their bottom-line," said Chris Shutts, Co-Founder, BigMachines. "Being a charter member of the Recurring Revenue Alliance allows BigMachines to extend the reach of our existing best practices and to continue defining ways in which organizations can maximize their revenues, margins, and customer retention."
"We are pleased to welcome BigMachines and the wealth of configure, price, quote experience and best-practices they bring to the Recurring Revenue Alliance," said Christine Heckart, ServiceSource, CMO. "BigMachines' world-class sales performance software and strong track record of helping companies grow their bottom line further supports and establishes the vision of the Recurring Revenue Alliance."
The Recurring Revenue Alliance helps companies maintain and grow their share of the $310B annual recurring revenue market for maintenance, support and subscriptions across hardware, software, industrials, healthcare and XaaS(1). By helping companies easily connect systems and data across existing CRM, quoting and ERP systems, the Alliance helps them implement and automate a highly effective renewal process. The Alliance brings together best-in-class companies including MuleSoft, Okta, Pactera, Salesforce.com, ServiceSource and Xactly in addition to BigMachines.
"Revenue based on recurring sales from installed customers is nearly 50% of the profit earned by the global IT market," said Robert Mahowald, Research Vice President at IDC. "The Recurring Revenue Alliance brings together leading SaaS and services companies to help customers optimize their bottom-line business results."
The Recurring Revenue Alliance is formed on a vision to rapidly expand highly profitable renewal, cross-sell and upsell revenue by:
"Recurring revenues are the fastest-growing revenue streams, averaging 8 percent per year growth while new product revenues are growing at an average rate of 6 percent per year," said Julia Stegman, Research Vice President at the Technology Services Industry Association. "The Recurring Revenue Alliance brings capabilities to the market that specifically address gaps in today's solution architecture to enable optimal recurring revenue growth."
For more information on the Recurring Revenue Alliance, please visit http://www.servicesource.com/recurring-revenue-alliance
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BigMachines, the global leader in Configuration, Pricing, and Quoting solutions, focuses on Results and Customer Success by enabling businesses to quickly configure products and services, create 100% accurate sales quotes, proposals and contracts, and integrate with CRM, ERP and other business systems. Whether a company sells silicon chips or potato chips, sells direct, through reseller channels, or online to customers, BigMachines showcases the latest SaaS CPQ innovation and solutions to improve business processes. For more information, visit www.bigmachines.com.
(1) Gartner, Inc., Forecast: IT Services, 2008-2015, 2Q11 Update, June 2011 Kathryn Hale et al; Forecast Analysis. Software as a Service, Worldwide, 2010-2015, Update, Sharon A. Mertz et al, June 22, 2011. Gartner Market Databook, 2010.