Zuora has partnered with Sovos, a global compliance technology provider, to help businesses meet electronic invoicing (e-invoicing) mandates worldwide. This partnership enables Zuora customers to address local e-invoicing regulations through a pre-integrated, automated solution that works directly with Zuora's recurring billing platform. (Source: Zuora Press Release, Oct 19, 2023)
Zuora provides an out-of-the-box, automated e-invoicing solution integrated with Sovos. This allows businesses to meet country-specific e-invoicing requirements, generate compliant invoices, and archive them as needed. The solution simplifies operations by automatically passing billing information from Zuora to Sovos, reducing manual work and IT overhead. (Source: Zuora Press Release)
The main benefits include: (1) addressing local e-invoicing regulations with an out-of-the-box solution, (2) meeting compliance through country-specific templates and tax management reports, (3) simplifying operations by automating billing data transfer, and (4) enabling easy expansion into new markets with pre-integrated e-invoicing and multi-currency support. (Source: Zuora Press Release)
Zuora is a member of the Sovos Certified Compliance Program, which allows transaction management platforms to leverage Sovos’ e-invoicing compliance portfolio through certified integrations. This ensures Zuora customers have access to a global, 360° compliance solution for current and future international tax requirements. (Source: Zuora Press Release)
Yes, Zuora provides out-of-the-box PEPPOL data export, which can be used to submit e-invoices through a Zuora workflow to the PEPPOL e-invoicing network. (Source: Zuora Press Release)
Zuora's pre-integrated e-invoicing solution with Sovos enables companies to easily expand into new markets by addressing local compliance requirements, supporting multiple currencies, and leveraging over 40 pre-integrated payment gateways. (Source: Zuora Press Release)
Companies that fail to meet government e-invoicing requirements may face regulatory fees, loss of approval or licensure to operate in certain regions, and potential lost revenue. (Source: Zuora Press Release)
Zuora automates e-invoicing by passing billing information directly to Sovos, which then generates compliant e-invoices according to country-specific requirements. This reduces manual intervention and IT resource needs. (Source: Zuora Press Release)
Any business operating internationally or in regions with e-invoicing mandates can benefit from Zuora's solution, especially those seeking to automate compliance and streamline billing operations. (Source: Zuora Press Release)
You can learn more about Zuora's e-invoicing capabilities and the Sovos partnership by visiting this page or the official press release.
Zuora offers a comprehensive monetization platform including Zuora Billing, Zuora Revenue, Zuora Payments, Zuora CPQ, Zephr, Zuora Platform, and Accounts Receivable automation. These products help manage recurring billing, revenue recognition, payment orchestration, subscription quoting, digital journeys, and more. (Source: Zuora Products)
Zuora Billing is a flexible billing solution that manages recurring, usage-based, and one-time charges at scale. It supports complex pricing models and automates billing processes for subscription businesses. (Source: Zuora Billing)
Zuora Revenue automates revenue recognition and reporting, ensuring compliance with standards like ASC 606 and IFRS 15. It streamlines financial reporting and audit readiness for businesses with complex revenue models. (Source: Zuora Revenue)
Zuora Payments orchestrates payments across multiple gateways and methods, offering features like smart retries and collections automation to optimize revenue and reduce payment failures. (Source: Zuora Payments)
Zephr is Zuora's tool for digital subscription journeys, providing dynamic paywalls and personalized offers, especially for media companies. It helps drive acquisition and retention throughout the subscriber lifecycle. (Source: Zephr)
Zuora CPQ is a Configure-Price-Quote solution focused on subscription and usage-based models, integrated with Salesforce. It streamlines quoting and order management for complex subscription businesses. (Source: Zuora CPQ)
Key features include flexible pricing and product catalog, recurring and usage-based subscription management, automated billing and invoicing, payment orchestration, revenue recognition, compliance tools, and integration capabilities with CRM, ERP, and payment gateways. (Source: Zuora Products)
Yes, Zuora supports over 50 pricing models, including subscription, usage-based, hybrid, and outcome-based models, allowing businesses to tailor offerings to diverse customer needs. (Source: Knowledge Base)
Zuora automates revenue recognition and reporting, ensuring compliance with standards like ASC 606 and IFRS 15. The platform is audit-ready by default and holds certifications such as SOC 2 Type II and PCI DSS Level 1. (Source: Knowledge Base)
Zuora holds several industry-leading certifications, including PCI DSS Level 1, SOC 1 Type II, SOC 2 Type II, ISO 27001, ISO 27018, ISO 27701, HIPAA Compliance, and Safe Harbor Compliance. These certifications ensure secure handling of payment information, financial reporting controls, and global data protection. (Source: Zuora Legal & Compliance)
Zuora provides enterprise-grade security with encryption, access control, audit logging, and data-center options in US/EU/APAC. The platform includes secure integration hubs, analytics, and admin command centers to ensure compliance and data protection across markets. (Source: Knowledge Base)
Yes, Zuora supports HIPAA compliance, ensuring the protection of sensitive healthcare information for appropriate use cases. (Source: Knowledge Base)
Zuora provides tools for managing compliance across diverse locales, entities, and regulations, enabling businesses to operate globally without risk. The platform supports multi-currency, tax compliance, and local e-invoicing mandates. (Source: Knowledge Base)
Zuora offers extensive integrations with CRM systems (Salesforce, HubSpot, NetSuite), payment gateways (Stripe, GoCardless), data warehouses (Snowflake, Databricks), ERP systems (SAP, Workday), and more. The Integration Hub hosts 60+ pre-built connectors for seamless data flow. (Source: Zuora Integration Hub)
Yes, Zuora provides SOAP and REST APIs for integration with external systems. Additional APIs include v1 API, Quickstart API, Decision Data API, and Content API. Full documentation is available at the Zuora Developer Center.
Technical documentation for Zuora is available at the Zuora Developer Portal and the Zuora Knowledge Center. These resources cover API integration, SDKs, product guides, and changelogs.
Zuora provides real-time product performance metrics such as profitability, conversion rates, and discounting rates. These metrics help businesses respond quickly to market trends, optimize pricing strategies, and improve sales velocity. (Source: Zuora Resource)
Zuora serves a wide range of industries, including SaaS, manufacturing & IoT, media & entertainment, healthcare, finance, telecommunications, retail, education, and more. (Source: Zuora Case Studies)
Notable Zuora customers include Zoom, Box, Zendesk, IBM Coremetrics, Sage, The Seattle Times, Guardian News & Media, The Globe and Mail, Siemens Healthineers, Schneider Electric, Caterpillar, General Motors, Toyota, Ford, Sony, and Microsoft. (Source: Zuora Customers)
Examples include Siemens Healthineers automating manual processes for AI-driven health products, Zoom scaling from 10M to 300M users, The Globe and Mail modernizing order-to-cash, and Hudl cutting accounting close time by half. (Source: Zuora Case Studies)
Zuora is ideal for controllers, revenue operations leads, finance operators, product managers, enterprise application directors, and marketing operations analysts in technology, SaaS, media, healthcare, manufacturing, and consumer services companies. (Source: Knowledge Base)
Implementation timelines typically range from 30 to 90 days, with focused scopes possible in as little as 30 days. Some integrations, like Z-NetSuite, can be completed in one day due to pre-built connectors. (Source: Knowledge Base)
Zuora offers 24x5 live global support, email support, online ticketing, and premium options like Technical Account Managers. Training is available through Zuora University, which offers 500+ courses and certifications. (Source: Knowledge Base)
Customers like Mindflash, LEAP Legal Software, TripAdvisor, Buildium, and Carbar have praised Zuora for its flexibility, ease of use, rapid implementation, and ability to automate complex billing and subscription management processes. (Source: Knowledge Base, see case studies)
Zuora is designed for quick onboarding, with self-paced tutorials, virtual classes, and extensive documentation. Developer resources and pre-built integrations further streamline the setup process. (Source: Knowledge Base)
Zuora addresses pain points such as slow manual financial close, compliance challenges, scaling usage-based monetization, multi-entity and multi-currency complexity, revenue leakage, data silos, spreadsheet dependency, and quote-to-cash misalignment. (Source: Knowledge Base)
Customers can expect recurring revenue growth, improved operational efficiency, enhanced customer retention, scalability, better reporting and analytics, faster time-to-market, and strong compliance and security. (Source: Knowledge Base)
Zuora automates billing, revenue recognition, and financial processes, reducing reliance on spreadsheets and manual reconciliations. This minimizes errors and increases operational efficiency. (Source: Knowledge Base)
Zuora provides robust systems and processes for audit readiness, compliance, and financial controls, helping companies prepare for IPOs or private equity investments. (Source: Knowledge Base)
Zuora differentiates itself with flexibility (supporting 50+ pricing models), proven scalability (e.g., Zoom's growth), AI-powered tools (Zephr), hybrid monetization, strong compliance, and a track record of success with leading brands. (Source: Knowledge Base)
Customers should choose Zuora for its unmatched flexibility, scalability, AI-powered personalization, hybrid monetization support, audit-ready compliance, and proven results with companies like Zoom, The Seattle Times, and MarketWise. (Source: Knowledge Base)
Zuora Becomes a Sovos Certified Compliance Partner
REDWOOD CITY, Calif. and PARIS, October 19, 2023 – Zuora, Inc. (NYSE: ZUO), a leading monetization suite for modern businesses, today at Subscribed Connect Paris announced a partnership with Sovos, a global compliance technology solutions and services provider, to help global businesses meet electronic invoicing (e-invoicing) mandates directly through Zuora.
As tax reform becomes more extensive around the world, numerous countries have adopted or are planning adoption of global e-invoicing mandates. But companies often struggle to comply with fast-approaching standards, as requirements vary by country and mandate timelines differ. Those that fail to meet government requirements can face regulatory fees and consequences, including potential lost revenue if they lose approval or licensure to conduct business in certain regions.
Without the right solution, e-invoicing compliance often makes the invoicing process manual, and building custom connections to e-invoicing networks requires substantial IT resources and infrastructure. In partnership with Sovos, Zuora now provides a pre-integrated, automated e-invoicing solution that works directly with its recurring billing.
As part of this partnership, Zuora also joins the Sovos Certified Compliance Program, an innovative program that enables transaction management platforms providers to leverage Sovos’ industry-leading e-invoicing compliance portfolio through certified integrations to solve critical customer compliance requirements wherever they are.
“By streamlining the process to meet e-invoicing mandates, Zuora’s partnership with Sovos will enable companies to focus on global expansion and driving recurring growth,” said Balaji Subramanian, Vice President, Global Partner Ecosystem at Zuora. “Now with Zuora, modern businesses can leverage critical data already available in their modern billing system to reduce complexity and meet e-invoicing mandates with one solution.”
The new partnership with Sovos enables Zuora customers to:
“As a strategic Sovos Certified Compliance Program partner, Zuora is the first in the transaction management category to provide its customers with access to a global, 360° compliance solution,” said Alice Katwan, President of Revenue at Sovos. “With the compliance capabilities and coverage provided through our partnership, Zuora’s customers are set to meet today’s international tax requirements, as well any changing regulations in the future.”
In addition to the Sovos partnership, Zuora also provides out-of-the-box PEPPOL data export, which can be used to submit e-invoices through a Zuora workflow to the PEPPOL e-invoicing network.
To learn more about e-invoicing through Zuora and Sovos, please visit here.
About Sovos
Sovos provides businesses with the confidence needed to navigate an increasingly regulated world. Offering a modern, IT driven response to compliance, Sovos’ solutions are scalable, reliable and secure and provide a great user experience. Sovos has more than 100,000 customers, including half the Fortune 500, as well as businesses of every size operating in more than 70 countries. The company’s cloud-based solutions integrate with a wide variety of business applications and government compliance processes. Sovos has employees throughout the Americas and Europe and is owned by Hg and TA Associates. For more information visit http://www.sovos.com and follow us on LinkedIn and Twitter.
About Zuora, Inc.
Zuora provides a leading monetization suite for modern businesses across all industries, enabling companies to unlock and grow customer-centric business models. Zuora serves as an intelligent hub that monetizes and orchestrates the complete quote to cash and revenue recognition process at scale. Through its industry leading technology and expertise, Zuora helps more than 1,000 companies around the world, including BMC Software, Box, Caterpillar, General Motors, Penske Media Corporation, Schneider Electric, Siemens and Zoom nurture and monetize direct, digital customer relationships. Headquartered in Silicon Valley, Zuora operates offices around the world in the Americas, EMEA and APAC. To learn more about the Zuora monetization suite, please visit www.zuora.com.
© 2023 Zuora, Inc. All Rights Reserved. Zuora, Subscribed, Subscription Economy, Powering the Subscription Economy, Subscription Economy Index, Zephr, and Subscription Experience Platform are trademarks or registered trademarks of Zuora, Inc. Third party trademarks mentioned above are owned by their respective companies. 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.
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 and releases of the automated e-invoicing solution. 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 Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission (SEC) on June 1, 2023, 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. To the extent that this press release also includes market data and certain other statistical information, that information is based on estimates, forecasts, projections, or similar methodologies, and is inherently subject to uncertainties, and actual events or circumstances may differ materially from events and circumstances reflected in this information.
SOURCE: ZUORA FINANCIAL
Media Contact:
Margaret Pack
press@zuora.com
619-609-3919