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Zuora Partners With FinancialForce.com, Intacct and Sage to Bring Finance Into the Subscription Economy
REDWOOD CITY, CA, May 14, 2012 (MARKETWIRE via COMTEX) --
Enabling a Best of Breed Approach for the Subscription Economy
-- Zuora, the subscription billing and commerce leader for the
Subscription Economy, today announced a new set of alliances with
industry leading financial management and accounting applications to
address the unique finance and accounting needs of subscription
businesses. FinancialForce.com, Intacct and Sage have all joined with
Zuora to standardize how subscription revenue is treated and shared
with existing financial management and accounting applications.
-- Over the last four years, Zuora has built the de-facto billing and
commerce backbone for the Subscription Economy with customers ranging
from high-growth startups like Box, Branchout, Docusign, Marketo,
Splunk, and Zendesk to global enterprises like AAA, Dell, News
International, Pearson, Tata Communications, Reed Business, and
Qualcomm.
-- These new alliances will further provide Zuora's customers with the
ability to extend the value of their existing systems -- no matter
which financial management and accounting applications they use -- and
to seamlessly connect Zuora's subscription billing and commerce
solutions.
The Subscription Economy is Changing the Way Companies Operate
-- Subscription business models are expanding rapidly beyond the realm of
software-as-a-service or publishing to communications, automotive,
media in both new and traditional companies. Today, subscriptions are
everywhere as cloud, social and mobile technologies are creating
entirely new ways for businesses to connect and serve their customers
with "subscribe" to recurring services rather than "buy" products,
giving rise to the Subscription Economy.
-- This shift to the Subscription Economy is rapidly forcing a
fundamental change in the way companies run their businesses, as the
subscription business model is fundamentally different than
traditional product-centric businesses. For example,
-- Pricing is different (e.g. multiple price plans, bundles, tiers,
pay-as-you-go, vs. one-time pricing);
-- Billing is different (e.g. monthly, quarterly, semi-annual, annual
and even custom billing periods vs. one-time billing); and
-- Commerce is different (e.g. ongoing relationship with add-ons,
upgrades and renewals vs. one-time purchase).
-- But more than that, finance is different, and today's CFOs are
struggling with how to manage the unique differences that the
subscription business model brings to their business, specifically
forecasting future revenues, separating one-time from recurring
revenue, and calculating metrics like ARR, churn, and renewals rate.
-- As a result, finance departments and CFOs have discovered that they
need a new subscription billing and commerce platform that handles
finance in the Subscription Economy, and importantly, one that
seamlessly integrates with their existing financial management and
accounting applications.
Finance Leaders Team with Zuora to Bring Finance into the Subscription
Economy
-- Intacct: "As one of the original SaaS financial applications
companies, we understand the importance and complexity of managing a
subscription business," said Robert Reid, CEO, Intacct. "Our alliance
and this new framework enable joint customers to realize the true
value of Zuora and Intacct together. This is a perfect example of how
cloud computing makes it easier for companies to select integrated
best-of-breed systems like Intacct and Zuora, instead of being forced
into a suite of average products from one vendor."
-- Sage: "Sage serves millions of customers worldwide and in recent
months we have seen a growing interest among these small and midsized
businesses to offer their own products through subscription," said
Himanshu Palsule, EVP Strategy, Sage North America. "Partnering with
Zuora will enable us to help our customers gain the benefit of
offering subscription services to their own customers with integration
to Sage accounting or ERP systems in the back office."
-- FinancialForce.com: "Zuora's cloud applications are ideal for
companies with sophisticated subscription processing needs and are
perfect complements to FinancialForce's accounting, billing and media
solutions," said Tom Brennan, vice president of product marketing at
FinancialForce.com. Our combined solution is ideal for subscription
centric businesses, especially those using Salesforce CRM. As always,
we are delighted to offer our customers multiple applications to
choose from as opposed to the vendor lock-in approaches practiced by
traditional ERP suppliers."
Commentary on the News
-- Beagle Research: "With this announcement, Zuora is paving the way to
define a common standard for industry leading financial applications
to integrate with a world class subscription billing and commerce
platform," Denis Pombriant of Beagle Research. "This ensures that any
company can realize its full potential in the Subscription Economy
through a set of common standards, regardless of what financial
application they use."
-- Zuora: "Zuora is working closely with some of the most innovative CFOs
who recognize that the Subscription Economy represents a major shift
in their business and how they measure success," said Shawn Price,
President at Zuora. "By partnering with leaders in finance and
accounting, we are building a bridge between the 20th and 21st century
business models that finance leaders need to succeed in this new
reality."
About Zuora, Inc.
Zuora is the global leader in subscription commerce
and billing, helping companies in every industry transition to the
Subscription Economy. Enterprise leaders and high-growth companies
alike use Zuora's multi-tenant cloud platform to launch, scale, and
monetize their subscription services. Zuora's applications work where
traditional ERP applications fail: Subscription pricing, quoting,
orders, billing, payments, and renewals. Built from the ground up by
SaaS industry veterans from salesforce.com, PayPal, and Netsuite,
Zuora services innovative customers like Informatica, Tata
Communications, Box.net, Ning, GigaOm, Xplornet, Ustream and Reed
Business Information. To learn more about Zuora, please visit
www.zuora.com.
Media Contact:
Eileen Conway
Reidy Communications for Zuora
Email Contact
(650) 245-9015
SOURCE: Zuora
http://www2.marketwire.com/mw/emailprcntct?id=554D0CB1E46CA3C1
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