SAN MATEO, Calif. & TOKYO--(BUSINESS WIRE)--
Zuora,
Inc. (NYSE: ZUO), the leading cloud-based subscription management
platform provider, today announced that Ricoh, the $20 billion USD
global workplace technology company, has selected Zuora to help advance
its digital transformation initiatives and to continually improve the
customer experience. The Zuora® platform will power and manage all
financial processes for Ricoh’s first subscription-based printing and
document workflow service.
“Leveraging the subscription business model changes how our customers
interact with and continually receive value from our devices. This is a
fundamental shift and we are excited to partner with Zuora to expand the
Ricoh Smart Integration B2B cloud platform,” said Yasuyuki Nomizu,
Corporate Vice President, Ricoh. “We chose Zuora because of their
proven track record in powering subscription-based business models,
which is required to launch our new Dynamic Workplace Intelligence
approach to the market.”
First movers who embrace the increasing momentum of digitization can
turn it into a competitive advantage. McKinsey
& Company “found that the three-year revenue growth (of over 12
percent) for the fleetest was nearly twice that of companies playing it
safe with average reactions to digital competition.”
Ricoh’s new approach increases workplace efficiency and lowers the
barrier to entry for small and medium-sized businesses. Incorporating a
cloud platform into the RICOH IM Series takes the company’s
best-of-breed multifunction printers (MFPs) and adds a cloud-based
document workflow platform to enhance it, empowering digital workplaces
and giving their customers access to sophisticated equipment to help
them work smarter.
The new RICOH IM Series leverages artificial intelligence while
digitizing various documents that occur daily in business transactions
and in-house operations including ordering, invoicing, printing,
mailing, to make these workflow processes and transactions paperless.
“With Ricoh Smart Integration, we have integrated a range of
applications provided by partners in addition to Ricoh’s own application
suite. Customers are able to utilize the latest release of cloud
services based on a subscription model to reform their business,” said Kazuhiro
Horiba, head of the RSI Office in Platform Management Center of Ricoh’s
Platform Management Group. “At Ricoh, as well as meeting the needs
of each individual customer down to the last detail using the Zuora
platform, we want to further strengthen our already strong integrated
device business at a global level.”
The traditional product economy has a standard set of linear processes
that often break in the Subscription Economy. With Ricoh’s new
subscription offering, their order-to-revenue process becomes much more
complex, with customer renewals; suspensions; mid-cycle upgrades or
add-ons; and cancellations. Typically managed by the ERP systems of
product-first companies like Ricoh, pricing and packaging changes like
freemiums, upgrades, downgrades or add-ons are impossible to test and
launch.
Ricoh plans to use the Zuora platform to help the company achieve the
following business goals:
-
Minimize a reliance on legacy ERP systems - Ricoh will use
Zuora to manage the financial processes required to digitize difficult
business processes. The Zuora platform will enable Ricoh to parse
transactions into billable options - by user, type of workflow - the
capabilities Ricoh’s ERP system was difficult to support.
-
A single global infrastructure for the subscription business -
The Zuora platform will manage service menus, service packaging, and
other processes for the services/ workflow provided by Ricoh Smart
Integration. It will work as the global infrastructure ensuring
scalability and the ability to handle different currencies, commercial
practices, and payment methods around the world. While providing new
value to corporate customers in Japan, North America, South America,
Europe, and Asia through Ricoh’s IM Series, it enables powerful
subscription business management at a global level.
-
Faster go-to-market with new digital services - With one global
infrastructure to support the Ricoh Smart Integration platform, Ricoh
will be able to add new services or applications more quickly than
ever before as it builds its digital business. The Zuora Billing
platform allows easy handling of future function expansions and
cross-selling, up-selling, and delivers the speed and agility demanded
of a subscription–based business.
About Ricoh
Ricoh is empowering digital workplaces using innovative technologies and
services enabling individuals to work smarter. For more than 80 years,
Ricoh has been driving innovation and is a leading provider of document
management solutions, IT services, commercial and industrial printing,
digital cameras, and industrial systems. Headquartered in Tokyo, Ricoh
Group operates in approximately 200 countries and regions. In the
financial year ended March 2018, Ricoh Group had worldwide sales of
2,063 billion yen (approx. 19.4 billion USD). For further information,
please visit www.ricoh.com.
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 1,000 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.
© 2019 Zuora, Inc. All Rights Reserved. Zuora, Subscription Economy,
Powering the Subscription Economy 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/20190308005109/en/
Jayne Gonzalez
press@zuora.com
408-348-1087
Source: Zuora, Inc.