Wednesday, 07 June 2017 22:35

Zuora launches new cloud software platform

By
Tien Tzuo, Zuora Tien Tzuo, Zuora

Silicon Valley-based global enterprise software vendor Zuora has launched Zuora Central, claimed as the only cloud-based software platform that functions as a hub to co-ordinate all order-to-cash operations for any business looking to succeed in the so-called subscription economy.

Touting the platform as its “vision for the future” of enterprise software, Zuora founder and chief executive Tien Tzuo says, along with the newly acquired Revpro Zuora, the company has expanded its product portfolio and defined a completely new architecture for a post-ERP world.

“Any company running its business with Zuora Central will now have the freedom to dynamically grow, flex, iterate, scale, and transform – all with a modern platform designed for the future.

“Ten years ago, we saw a tectonic business model shift — one that we now call the subscription economy — and Zuora built the first suite of products to automate the unique billing needs of subscription businesses.

“Today, we predict that this shift to services will have a massive impact on existing IT infrastructures. In this new digital world, companies require an entirely new order-to-cash architecture to manage massive recurring revenue complexities. That’s why we built Zuora Central as the first platform to orchestrate all critical financial operations, setting a new standard in dynamic enterprise software in a post-ERP world.”

According to Tzuo, the world’s largest companies have the most to gain by launching new digital services.

He says the latest Zuora Subscription Economy Index (SEI) found that revenues of subscription-based companies continue to grow eight times faster than that of the S&P 500 and enterprises with over US$100 million in revenue are growing the fastest at 40% above the index average (15% year-over-year).

Zuora Central offers:

  • Subscription Orders Engine manages multi-year and multi-subscription changes over the lifecycle of a subscriber and automatically calculates key bookings metrics.
  • Rating Engine allows real-time monetisation of any customer event such as usage or consumption.
  • Subscription Accounting Engine translates revenue and accounts receivable transactions into subledger entries needed to close the books faster.
  • Subscription Metrics Engine computes and visualises key subscription metrics in real-time like Monthly Recurring Revenue, Net Retention, Average Revenue Per Account, Days Sales Outstanding, and Churn Rate in a centralised dashboard.
  • Pricing Engine provides a central place to design any type of monetisation model which then syncs instantly with other systems such as CRM, CPQ, and webstores.
  • Global Payments Engine captures multiple, global payment methods across more than 30 gateways to maximise recurring cash collections at scale.

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Peter Dinham

Peter Dinham is a co-founder of iTWire and a 35-year veteran journalist and corporate communications consultant. He has worked as a journalist in all forms of media – newspapers/magazines, radio, television, press agency and now, online – including with the Canberra Times, The Examiner (Tasmania), the ABC and AAP-Reuters. As a freelance journalist he also had articles published in Australian and overseas magazines. He worked in the corporate communications/public relations sector, in-house with an airline, and as a senior executive in Australia of the world’s largest communications consultancy, Burson-Marsteller. He also ran his own communications consultancy and was a co-founder in Australia of the global photographic agency, the Image Bank (now Getty Images).

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