Zuora cements its position as the leading system of record for
subscription businesses
SAN MATEO, Calif.--(BUSINESS WIRE)--
Zuora,
Inc. (NYSE: ZUO), the leading cloud-based subscription management
platform provider, today announced its Spring
‘18 product release at its sixth annual user conference Subscribed™
in San Francisco on June 5-6th.
Finance teams are under immense pressure to support the growth of their
businesses. The Deloitte
2018 Q1 North American CFO Signals report found that CFOs indicate a
strong bias toward revenue growth over cost reduction (64% vs. 18%). Yet
41% of CFOs said staying current with changing technology is the
greatest pressure facing their accounting and finance teams according to
the Robert
Half Management Resources survey.
The Zuora Spring ‘18 release empowers the office of the CFO to be a
critical driver of growth with the first and only complete subscription
order-to-revenue solution on the market. Zuora has built new
capabilities for the finance and operations team of the future –
including Billing, Collections, Revenue Accounting, Deal Desk, Orders,
and CXOs.
“This is our biggest product announcement ever,” said Zuora SVP of
Product Tom Krackeler. “The Zuora Spring ‘18 release includes a
number of new features and product upgrades to arm finance teams with
the technology required to address their most pressing subscription
order-to-revenue needs.”
Subscription Order Management Designed for Customer Expansion
For a typical subscription business, around seventy percent of revenue
comes from the existing customer base through renewals, upsells, and
cross sells. This Zuora Central Platform upgrade allows finance and
operation teams to more easily process and capture these subscription
change orders.
-
Capture Expansion Upfront: Rapidly growing sales teams can book
multi-year expansion contracts upfront
-
Increase Subscription Orders Flexibility: Capture complex
changes for existing subscriptions, including multi-subscription and
multi-site scenarios
-
One Place for Order Metrics: Out-of-the-box change order
metrics like Monthly Recurring Revenue, Churn Rate, Net Retention
visualized on a configurable dashboard
-
Automate Order-to-Revenue: Comprehensive change order data is
captured to recognize revenue under ASC 606 compliance
New Workflow Builder Brings Greater Platform Automation
A new Workflow service in the Central platform gives teams greater
efficiency and flexibility for account management, provisioning, invoice
management, and other business processes.
-
Easily Customize: Easy, drag-and-drop workflow builder
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Automate Everything: Using conditional logic and rules to
tailor each workflow
-
Reduce Custom Code: Integrate quickly to other systems without
custom code
Zuora Collect, now Generally Available, Maximizes Recurring Payments
Zuora Collect helps collections teams reduce revenue leakage and
involuntary churn caused by ineffective collections processes for
recurring payments.
-
Collect More: Maximize chances of collections success with a
self-service web portal and multiple payment method options per
subscription
-
Minimize Churn: Mitigate involuntary churn with intelligent
retry logic for electronic payments
-
Reduce Costs: Maximize automation to handle recurring
collections with configurable business workflows and a centralized
collections workbench
New Zuora RevPro UI Designed for Greater Revenue Automation
Zuora RevPro enables businesses to automate revenue recognition.
-
Better Performance: Improved system speed for task rendering
and data loading, resulting in a more pleasant user experience
-
Seamless Navigation: New intuitive design allows users to
navigate more easily
-
New and Optimized Reporting: A new configurable dashboard,
faster load times, data grids with advanced filtering, no export
limits, drill-down capabilities, and more
New Capabilities for Easier Invoice Settlement in Zuora Billing
New capabilities gives greater control throughout the entire AR process.
-
Manage Payment Operations: Process payment applications and
unapplied payments the way customers demand
-
Align with Accounting Mechanisms: Correct, adjust and manage
account balances with credit and debit memos
-
Gain Greater Control: Enjoy granular reporting and accounting
for AR settlement activity with line item settlement
About Zuora, Inc.
Zuora provides the leading cloud-based subscription management platform
that functions as a system of record for subscription businesses across
all industries. Powering the Subscription Economy®, the Zuora platform
was architected specifically for dynamic, recurring subscription
business models and acts as an intelligent subscription management hub
that automates and orchestrates the entire subscription order-to-cash
process, including billing and revenue recognition. Zuora serves more
than 900 companies around the world, including Box, Komatsu, Rogers,
Schneider Electric, Xplornet and Zendesk. Headquartered in Silicon
Valley, Zuora also operates offices in Atlanta, Boston, Denver, San
Francisco, London, Paris, Beijing, Sydney, Chennai and Tokyo. To learn
more about the Zuora platform, please visit www.zuora.com.
Forward-Looking Statements
This press release contains forward-looking statements that involve a
number of risks, uncertainties and assumptions, including but not
limited to statements regarding the expected benefits of Zuora’s Spring
2018 product releases, Zuora’s expectations regarding companies shifting
to subscription business models, and the expected growth and trends in
the market for subscription businesses. Any statements that are not
statements of historical fact may be deemed to be forward-looking
statements. Actual results could differ materially from those stated or
implied in forward-looking statements due to a number of factors,
including but not limited to, risks detailed in the "Risk Factors"
section of Zuora’s final prospectus related to the initial public
offering filed with the Securities and Exchange Commission (SEC) on
April 12, 2018, as well as other documents that Zuora may file from time
to time with the SEC. The forward-looking statements in this press
release are based on current expectations as of the date of this press
release and Zuora undertakes no obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise. This press release also includes market data
and certain other statistical information and estimates from industry
analysts and/or market research firms. Zuora believes these third party
reports to be reputable, but has not independently verified the
underlying data sources, methodologies or assumptions. Information that
is based on estimates, forecasts, projections, market research or
similar methodologies is inherently subject to uncertainties and actual
events or circumstances may differ materially from events and
circumstances reflected in this information.
© 2018 Zuora, Inc. All Rights Reserved. Zuora, Subscribed,
Subscription Economy, Powering the Subscription Economy, and
Subscription Economy Index are trademarks or registered trademarks
of Zuora, Inc. Other names and brands may be claimed as the property of
others. Nothing in this press release should be construed to the
contrary, or as an approval, endorsement or sponsorship by any third
parties of Zuora, Inc. or any aspect of this press release.
SOURCE: Zuora Financial
View source version on businesswire.com:
https://www.businesswire.com/news/home/20180605005540/en/
Zuora, Inc.
Jayne Scuncio, 408-348-1087
press@zuora.com
Source: Zuora, Inc.