Here at Zuora, we have a soft spot for finance teams.
When we take a step back, finance teams that work with subscription or consumption-based business models across all industries struggle with the same 5 challenges:
- The amount of time it takes to process Orders. New sales orders, ramp deals, multi-year deals, mid-term contract changes, and more put a heavy burden on finance teams.
- The amount of time it takes for Accounts Receivable management. Manually reconciling transactions, write-offs, and unpaid invoices often cut across across multiple systems and multiple spreadsheets.
- The amount of revenue lost due to revenue leaks and ineffective collections processes.
- The amount of time it takes to close the books. Entering data into the General Ledge is often error-prone, manual, and cumbersome.
- The amount of time it takes to gather and create the right reports. Understanding business performance is difficult when metrics and data are siloed to begin with.
With a consumption-based or subscription business model, finance teams are busier than ever. The amount of customer interactions escalates and finance teams are burdened to handle each financial transaction manually.
That’s why we’re excited to introduce the following in Zuora for our Spring ‘18 Launch:
- Zuora Collect: Do your collections in Zuora. Rather than switching to a different system, you can now handle billing and collections all from Zuora. Maximize recurring revenue through intelligent retry rules, collections workflows, dispute management and more.
- New Subscription Orders Engine: We’ve amped up our order lifecycle management capabilities with ramp deals, multi-action orders, and more sophisticated metrics. The result? A much cleaner UI, less rollbacks, and stronger reporting for finance teams.
- Advanced AR Settlement: Gain greater control through the entire AR process with Credit Memos, Debit Memos, Unapplied Payments, and Invoice-item Settlement.
- Workflow automation: Use an easy, drag-and-drop builder to edit and automate business processes in Zuora (such as write-offs) – no more redundant manual tasks.
- Events framework and Notifications service: Capture all customer events in Zuora automatically. Track customer changes and automate all customer notifications.
- Zuora Insights Configurable Dashboards: Finance teams can now see all subscription metrics from a single interactive dashboard.
- Zuora CPQ 9.X: Gain flexibility to create complex quotes in our CPQ solution without creating any burden on finance for billing, revenue recognition, and reporting.
Test drive Zuora today to see how we can help run your dynamic order-to-cash process.