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Zuora Appoints John D. Harkey, Jr. to Board of Directors

REDWOOD CITY, Calif. – May 1, 2024 Zuora, Inc. (NYSE: ZUO), a leading monetization suite for modern business, today announced the appointment of John D. Harkey, Jr. to the Zuora Board of Directors, effective April 30, 2024. With the addition of Mr. Harkey, the Zuora Board of Directors will consist of ten Board members, nine of whom are independent. The appointment is in connection with a cooperation agreement (the “Agreement”) Zuora has entered into with Scalar Gauge Fund, LP and certain of its affiliates (collectively, “Scalar Gauge”). Scalar Gauge is an investment firm that owns approximately 3.7% of Zuora’s outstanding class A common shares.

Jason Pressman, Lead Independent Director at Zuora, said, “John brings over 25 years of experience as a chief executive, director and private investor in companies across a wide range of industries, and we welcome him to the Zuora Board.” 

Tien Tzuo, Founder, CEO and Chairman of the Board at Zuora, added, “Zuora is executing on our enhanced go-to-market strategy, modularizing our product offerings and expanding our portfolio of product offerings, and we look forward to benefiting from John’s financial expertise, experience in customer-centric industries, and track record of helping companies execute on strategic transformations.” 

Mr. Harkey added, “With one of the most powerful, flexible and customer-friendly platforms for businesses looking to monetize their offerings, Zuora is incredibly well positioned to continue building on its momentum. I look forward to working closely and collaboratively with my fellow directors and the Zuora management team to build on the company’s strong foundation and drive shareholder value.” 

The Agreement contains customary standstill, voting, non-disparagement, and other provisions. A complete copy of the Agreement will be filed on a Form 8-K with the U.S. Securities and Exchange Commission.

Sumit Gautam, Founder and Portfolio Manager of Scalar Gauge, said, “We have appreciated our constructive engagement with Zuora, and believe that adding John Harkey to the Board of Directors will contribute to unlocking tremendous value at Zuora.”

Mr. Harkey will serve as a Class I Director for a one-year term that is expected to expire at the 2025 Annual Meeting.

John D. Harkey, Jr. has over 25 years of experience as a chief executive, director and private investor in companies across a wide range of industries. Mr. Harkey is currently the Founder and Principal of JDH Investment Management, LLC – which is focused on investments in leading innovative technologies and emerging company opportunities in healthcare – and Chairman and Chief Executive Officer of Consolidated Restaurant Companies, Inc. – an operating and franchising company for seven restaurant brands. Prior to his current focuses, Mr. Harkey was the Co-Founder of AveXis, Inc., a biotechnology company, and Executive Chairman from 2010 to 2015. AveXis was sold to Novartis AG in November 2018. 

Over the course of his career, Mr. Harkey has previously served on the board of directors of nine public companies. Mr. Harkey currently serves on the Board of Directors and Audit Committee of Lionsgate Entertainment Corp., is the Chairman of the Board of Directors of Dialectic Therapeutics, Inc., and Chairman of the Board of Veterinary Service, Inc. Mr. Harkey received his B.B.A. in Business Honors and a J.D. from the University of Texas at Austin and an M.B.A. from Stanford University School of Business.

About Scalar Gauge 

Scalar Gauge is a special situations investment firm utilizing a private equity approach in public markets. The fund invests with a long-term view, and often works with management teams, boards and other strategic investors to help create shareholder value. For more information, please visit www.scalargauge.com.

About Zuora, Inc.

Zuora provides a leading monetization suite to build, run and grow a modern business through a dynamic mix of consumption models, subscription bundles and everything in between. From pricing and packaging, to billing, payments and revenue accounting, Zuora’s flexible, modular software platform is designed to help companies evolve monetization strategies with customer demand. More than 1,000 customers around the world, including BMC Software, Box, Caterpillar, General Motors, Penske Media Corporation, Schneider Electric and Zoom use Zuora’s leading combination of technology and expertise to turn recurring relationships and recurring revenue into recurring growth. Zuora is headquartered in Silicon Valley with offices in the Americas, EMEA and APAC. To learn more, please visit zuora.com.

Forward-Looking Statements 

This press release contains express and implied forward-looking statements including but not limited to expectations regarding our strategy, product offerings and portfolio, investments and ability to achieve success.  Forward-looking statements are subject to a number of risks, uncertainties and assumptions, other than statements of historical fact, that refer to future plans and expectations are forward-looking statements that involve a number of risks and uncertainties, many of which involve factors or circumstances that are beyond our control. 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 our ability to achieve, sustain and manage our growth, our ability to execute on our go-to-market strategy and our ability to compete effectively with our products, as well as other risks detailed in the “Risk Factors” section of Zuora’s Annual Report on Form 10-K filed with the Securities and Exchange Commission (SEC) on March 26, 2024, as well as other documents that Zuora may file from time to time with the SEC. The forward-looking statements included in this press release represent our views as of the date of this press release. We anticipate that subsequent events and developments will cause our views to change. We undertake no intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to the date of this press release.

© 2024 Zuora, Inc. All Rights Reserved. Zuora is a registered trademark 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.

 

Source: Zuora, Inc.

 

Investor Relations Contact:

Luana Wolk

investorrelations@zuora.com

650-419-1377

 

Media Relations Contact:

Margaret Juhnke

press@zuora.com

619-609-3919

May 1, 2024
Zuora to Acquire Togai, Enhancing Usage-Based Offerings Amid the GenAI Explosion

Acquisition empowers developers and finance teams to accelerate usage-based offerings

REDWOOD CITY, CALIF., April 30, 2024 – Zuora, Inc. (NYSE: ZUO), a leading monetization suite for modern business, today announced its planned acquisition of metering and rating solution Togai, enhancing its usage-based offerings. With Togai’s low-code builder and developer-friendly interface to quickly configure metering and rating of raw events, the acquisition will help Zuora unite developers and finance teams to launch, iterate and adapt usage-based models.

The explosion of generative AI (GenAI) technologies has companies increasingly turning to usage-based business models, but added complexity and cost still prevent many companies from effectively monetizing their offerings. Developers often have sole access to product usage data and are left to manage it with inadequate, custom-coded systems, leaving finance teams unable to access the information they need to accurately invoice and recognize revenue. 

Togai enhances Zuora’s monetization suite, enabling developers to work alongside finance teams to define and operate any pricing model with a solution that can be easily plugged into their existing data stack. Its metering system facilitates event ingestion from a variety of sources, and its flexible rating engine enables unique ways to package and bundle offerings. Developers can get started with Togai’s self-service interface in minutes, which can support up to a billion events per day and reduce customer disputes with fully auditable and traceable usage data. Its Revenue Simulator and pre-built CRM connectors also alert sales teams of upcoming upsell and renewal opportunities. 

“Togai’s sophisticated metering and rating extends Zuora’s market-leading monetization suite to accelerate usage-based models,” said Tien Tzuo, Founder and CEO at Zuora. “Together, we will be strategically positioned to provide the right solutions for developers and finance teams to power the next generation of monetization.”

Togai was founded in 2022 by Abhishek Rajagopal, Aravind Sriraman, and Tholkappiyan Velavan, who will join Zuora with Togai employees. After closing, Togai’s metering and rating solution will become a part of Zuora’s existing product suite alongside Zuora Billing, Zuora Revenue, Zuora Payments, Zephr and Zuora Platform. It will be available both as a new standalone usage offering and with Zuora’s existing consumption solution. The acquisition also strengthens Zuora’s ability to enable Total Monetization, helping companies evolve their offerings to align with customer demand through a mix of innovative business models.

“Developers spend months building internal metering and rating systems, which can quickly evolve into a dedicated team of engineers as companies realize that building a usage-based billing system is not a one-time effort. Togai makes it possible to go live in hours with an out-of-the-box, flexible solution to model any type of pricing and reliably scale,” said Abhishek Rajagopal, CEO and Co-founder at Togai. “Combining Zuora and Togai is the right decision to bring together deep metering and rating with the scale of Zuora’s end-to-end monetization technology.” 

The acquisition of Togai is expected to close in early May 2024 and is subject to customary approvals and closing conditions. Foros is acting as financial advisor and Freshfields Bruckhaus Deringer US LLP as legal advisor to Zuora. QED Corporate Advisors is acting as financial advisor and Argus Partners as legal advisor to Togai.

To learn more about Togai, please visit here.

About Zuora, Inc.

Zuora provides a leading monetization suite to build, run and grow a modern business through a dynamic mix of consumption models, subscription bundles and everything in between. From pricing and packaging, to billing, payments and revenue accounting, Zuora’s flexible, modular software platform is designed to help companies evolve monetization strategies with customer demand. More than 1,000 customers around the world, including BMC Software, Box, Caterpillar, General Motors, Penske Media Corporation, Schneider Electric and Zoom use Zuora’s leading combination of technology and expertise to turn recurring relationships and recurring revenue into recurring growth. Zuora is headquartered in Silicon Valley with offices in the Americas, EMEA and APAC. To learn more, please visit zuora.com.

Forward-Looking Statements

This press release relates to the pending acquisition of Togai by Zuora, Inc. (“Zuora”, “we”, “our” or “us”). This press release may be deemed to contain forward-looking statements. Words such as “plan,” “continue,” “expect” and “will” and variations of such words and similar expressions are intended to identify forward-looking statements. Such forward-looking statements involve risks and uncertainties, including statements regarding Zuora’s ability to power innovative business models and help companies accelerate usage monetization, the anticipated timing and impact of the proposed acquisition of Togai on Zuora’s business, Zuora’s continued investment in innovation, and expected benefits of our products and the expansion of Zuora’s product suite following the acquisition. There are a significant number of factors that could cause actual results to differ materially from statements made in this press release, including: risks associated with Zuora’s strategies, priorities, or plans taking longer to execute than anticipated; the effect of the announcement on the ability of Zuora or Togai to retain key personnel or maintain relationships with customers; risks that the acquisition could disrupt current plans and operations; the ability of the parties to consummate the acquisition on a timely basis; the satisfaction of customary closing approvals and conditions; and general market, business, competitive, economic conditions.

Information on these risks and additional risks and uncertainties that could cause actual outcomes and results to differ materially from those included in or contemplated by the forward-looking statements contained in this release is included under the caption “Risk Factors” in our Annual Report on Form 10-K for the fiscal year ended January 31, 2024, which is available on the “Investors” page of our website at https://investor.zuora.com and on the U.S. Securities and Exchange Commission’s website at www.sec.gov. Additional information will also be set forth in our Quarterly Report on Form 10-Q for the quarter ended April 30, 2024, and other documents that we may file from time to time with the Securities and Exchange Commission. All forward-looking statements contained herein are based on information available to us as of the date hereof. Except to the extent required by law, we do not assume any obligation to update these statements as a result of new information, future events, or otherwise.

© 2024 Zuora, Inc. All Rights Reserved. Zuora and Zephr 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.

SOURCE: ZUORA FINANCIAL

Investor Relations Contact:

Luana Wolk

investorrelations@zuora.com

650-419-1377

Media Contact:

Margaret Juhnke

press@zuora.com

619-609-3919

April 30, 2024
Zuora Partners with Global Video Game Publisher Ubisoft to Power Its Subscription Services

REDWOOD CITY, CALIF., April 24, 2024 – Zuora, Inc. (NYSE: ZUO), a leading monetization suite for modern business, today announced that global video game publisher Ubisoft has adopted Zuora to power its Ubisoft+ and Rocksmith+ subscription services. Over the course of the partnership, Ubisoft has leveraged Zuora to scale its subscription business, automating and reducing friction in the billing, accounting and payment processes to accommodate online traffic increases of up to 200% during new game releases. 

“Today’s video game market is extremely concentrated, which makes it even more critical to build direct relationships with players,” said Casilda Sánchez-Blanco, Product Lead at Ubisoft. “To succeed in this ultra-competitive sector, Ubisoft needs to be on the cutting edge of technological innovation to build games that resonate. Insights from our subscription services help us do this. With Zuora, we can design the right offering for each player and navigate volume surges to ensure players have the best experience.”

Zuora has helped Ubisoft to customize billing and payments needs based on the subscriber. And after initially selecting Zuora to power subscription management for the Ubisoft+ service, the partnership has since expanded to power Rocksmith+, a subscription-based music learning service. Zuora has also supported the international expansion of Ubisoft+ to multiple countries, tailoring offerings as well as managing payments and tax calculations across numerous currencies and payment methods. Ubisoft+ is currently available in 184 countries and has future plans to continue expanding its subscription offerings with the support of Zuora. 

“Our technology partners must be capable of scaling up very quickly. Zuora has played an important role in this, enabling us to navigate new subscriber volume increases of up to 200%, which we can experience when we have new game releases. Zuora has the proven agility to meet our needs,” said Sánchez-Blanco. 

To learn more about Ubisoft’s story, visit here. Additional details on Zuora’s solutions are available here.

About Zuora, Inc.

Zuora provides a leading monetization suite to build, run and grow a modern business through a dynamic mix of consumption models, subscription bundles and everything in between. From pricing and packaging, to billing, payments and revenue accounting, Zuora’s flexible, modular software platform is designed to help companies evolve monetization strategies with customer demand. More than 1,000 customers around the world, including BMC Software, Box, Caterpillar, General Motors, Penske Media Corporation, Schneider Electric and Zoom use Zuora’s leading combination of technology and expertise to turn recurring relationships and recurring revenue into recurring growth. Zuora is headquartered in Silicon Valley with offices in the Americas, EMEA and APAC. To learn more, please visit zuora.com.

© 2024 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.

About Ubisoft

Ubisoft is a creator of worlds, committed to enriching players’ lives with original and memorable entertainment experiences. Ubisoft’s global teams create and develop a deep and diverse portfolio of games, featuring brands such as Assassin’s Creed®, Brawlhalla®, For Honor®, Far Cry®, Tom Clancy’s Ghost Recon®, Just Dance®, Rabbids®, Tom Clancy’s Rainbow Six®, The Crew® and Tom Clancy’s The Division®. Through Ubisoft Connect, players can enjoy an ecosystem of services to enhance their gaming experience, get rewards and connect with friends across platforms. With Ubisoft+, the subscription service, they can access a growing catalog of more than 100 Ubisoft games and DLC. For the 2022–23 fiscal year, Ubisoft generated net bookings of €1.74 billion. To learn more, please visit: www.ubisoftgroup.com.

© 2024 Ubisoft Entertainment. All Rights Reserved. Ubisoft and the Ubisoft logo are registered trademarks in the US and/or other countries.

 

Media Contact:

Margaret Juhnke

press@zuora.com

619-609-3919

April 24, 2024
Zuora SEI Report: Flexible, Recurring Monetization Models Drive 3.4x Faster Growth Rates Than the S&P 500 Over the Past 12 Years

REDWOOD CITY, Calif., Apr. 9, 2024 – Zuora, Inc. (NYSE: ZUO), a leading monetization suite for modern business, today released the latest Subscription Economy Index™ (SEI) report, which found that companies in the SEI have experienced 3.4x faster growth rates than the S&P 500 over the past 12 years.

In 2023, amid economic challenges and slowed digital transformations, companies in the SEI demonstrated resilience through Total Monetization strategies. By aligning and evolving their monetization models with customer demand, they pursued innovative approaches beyond traditional subscriptions, including hybrid and flexible bundling strategies. This agility and customer focus have driven sustainable growth despite market uncertainties.

In the latest SEI report, The Subscribed Institute at Zuora® found: 

  • Companies in the SEI continue to outpace the S&P 500: In 2023, companies in the SEI experienced a 10.4% revenue growth rate on average compared to 6% for the S&P 500.
  • Customer acquisition slowed, but retention is up: While customer acquisition slowed in 2023, companies in the SEI are retaining their customers, with churn numbers lower than the previous three years.
  • Customer expansion, or annual revenue per account (ARPA), is on an upward trend and slightly improved in 2023: Starting with a quarterly growth rate of 0.73% in Q1 2023, ARPA growth ended the year over 2x stronger at 1.76% in Q4. The quarterly average also improved year-over-year, with 1.5% growth in 2023 compared to 1.29% in 2022.
  • While growth rates slowed in the SaaS sector, churn is down and consumption-based models are continuing to demonstrate promising revenue growth: The SEI SaaS sector experienced a 10.1% revenue growth rate on average. The 6-year compound annual growth rate (CAGR) for SEI SaaS companies employing consumption-based models reached 20.1% in 2023 compared to 16.3% for the non-consumption counterparts.
  • In the Media & Entertainment sector, the New Media subset experienced faster revenue growth, but Publishing Media successfully expanded subscriber count over time: Media & Entertainment experienced a revenue growth rate of 6% on average in 2023. While the New Media subset experienced a faster revenue growth rate (12%) than Publishing Media (5.6%), Publishing Media grew ARPA year-over-year (YoY), while New Media ARPA growth slowed.

“Staying competitive means embracing agility and flexibility to incorporate a diverse mix of business models as opposed to a reliance on any single approach,” said Amy Konary, Senior Vice President and Founder of The Subscribed Institute at Zuora. “Companies that are able to evolve their monetization with demand will be better set up for faster and recurring growth.”

Zuora’s SEI report analyzes the growth and resilience of over 600 recurring revenue businesses based on anonymized, aggregated, system-generated activity on the Zuora Billing service. The latest report includes data by sector in SaaS, Media & Entertainment and Manufacturing, as well as by region in EMEA and APAC.

To read the full report, visit here.

About Zuora, Inc.

Zuora provides a leading monetization suite to build, run and grow a modern business through a dynamic mix of consumption models, subscription bundles and everything in between. From pricing and packaging, to billing, payments and revenue accounting, Zuora’s flexible, modular software platform is designed to help companies evolve monetization strategies with customer demand. More than 1,000 customers around the world, including BMC Software, Box, Caterpillar, General Motors, Penske Media Corporation, Schneider Electric and Zoom use Zuora’s leading combination of technology and expertise to turn recurring relationships and recurring revenue into recurring growth. Zuora is headquartered in Silicon Valley with offices in the Americas, EMEA and APAC. To learn more, please visit zuora.com.

Forward-Looking Statements

This report contains forward-looking statements that involve a number of risks, uncertainties, and assumptions, including but not limited to statements regarding the expected growth and trends of recurring revenue-based companies, such as subscriptions (including companies in the SEI report) and non-recurring revenue based companies. Any statements that are not statements of historical fact may be deemed to be forward-looking statements, and actual results could differ materially from those stated or implied in forward-looking statements. This report also includes market data and certain other statistical information and estimates from industry analysts and/or market research firms. Zuora believes these third party reports to be reputable, but has not independently verified the underlying data sources, methodologies, or assumptions. Information that is based on estimates, forecasts, projections, market research, or similar methodologies is inherently subject to uncertainties and may differ materially from actual events or circumstances.

© 2024 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.

 

Media Contact:

Margaret Pack

press@zuora.com

619-609-3919

April 9, 2024
Zuora and Avalara Expand Partnership with an Integrated E-Invoicing Solution for Modern Business

REDWOOD CITY, Calif., November 15, 2023 – Zuora, Inc. (NYSE: ZUO), a leading monetization suite for modern businesses, today expanded its partnership with Avalara, Inc., a leading provider of cloud-based tax compliance automation for organizations of all sizes, which will provide Zuora customers with access to Avalara E-Invoicing and Live Reporting.

Countries around the world continue to adopt e-invoicing mandates as well as additional digital reporting requirements, such as live reporting of invoice data and e-reporting of international sales and purchases. But compliance is often complex and costly, as timelines and regulations vary by country. The expanded partnership between Zuora and Avalara will help equip companies to meet these requirements with an integrated solution.

“Zuora’s partnership with Avalara arms modern businesses with the technology necessary today to pursue recurring growth on a global scale,” said Balaji Subramanian, Vice President, Global Partner Ecosystem at Zuora. “Now, our joint customers will be able to meet varying e-invoicing and live reporting requirements through Zuora.”

With Avalara E-Invoicing and Live Reporting, Zuora customers will be able to:

  • Set up global e-invoicing capabilities: Zuora customers can set up Avalara E-Invoicing and Live Reporting, set up their credentials, and configure it based on their reporting needs.
  • Access e-invoice exchange networks and government platforms: Businesses can connect to national and international networks as well as government e-invoicing platforms.
  • Support e-invoicing models by country or region: Connect to Avalara’s global API to fulfill e-invoicing mandates, including digital signatures, QR codes, digital archiving, and tax authority clearance and approvals.
  • Monitor the status of e-invoices: Monitor the status of all their e-invoices from a single reporting console, providing real-time visibility on the life cycle of the e-invoice and any messages or errors returned by tax authorities.
  • Set up archiving: Archive e-invoices to comply with data localization, security, and retention policies.

“Today’s announcement enables Zuora customers to meet evolving requirements with Avalara’s leading e-invoicing technology,” said Meg Higgins, SVP of Global Partners at Avalara. “Together, we’re empowering companies to expand globally while mitigating compliance barriers to entry.”

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. 

Avalara’s integrated e-invoicing solution will be available through Zuora starting in early 2024. Avalara is a certified and accredited Peppol service provider in Europe, Australia, New Zealand and Japan. To learn more about e-invoicing through Avalara and Zuora, please visit here

About Avalara

Avalara makes tax compliance faster, easier, more accurate, and more reliable for 30,000+ business and government customers in over 90 countries. Tax compliance automation software solutions from Avalara leverage 1,200+ signed partner integrations across leading ecommerce, ERP, and other billing systems to power tax calculations, document management, tax return filing, and tax content access. Visit avalara.com to improve your compliance journey.

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, release and availability of Alavara’s integrated e-invoicing solution on Zuora’s platform. 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 September 6, 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. 

SOURCE: ZUORA FINANCIAL

Media Contact:

Margaret Pack

press@zuora.com

619-609-3919

November 15, 2023
Zuora Partners with Sovos to Help Global Businesses Meet E-Invoicing Mandates

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:

  • Leverage an out-of-the-box solution to address local e-invoicing regulations
  • Meet compliance through country-specific templates, tax management reports and e-invoice archiving capabilities
  • Simplify operations by automatically passing billing information from Zuora to Sovos to generate e-invoices 
  • Easily expand into new markets with a pre-integrated e-invoicing solution, and leverage Zuora’s existing 40+ pre-integrated payment gateways and multi-currency support

“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

October 19, 2023
Introducing the Extension Studio: Quickly Extend Zuora and Adapt to Business Changes

New release lets Power Admins extend Zuora for any last-mile use case

REDWOOD CITY, Calif. and LONDON, October 17, 2023 – Zuora, Inc. (NYSE: ZUO), a leading monetization suite for modern businesses, today at Subscribed Connect London announced the Extension Studio to make it easier than ever to extend Zuora® for unique and changing business requirements. With drag-and-drop capabilities, Zuora’s Extension Studio empowers admins to configure unique use cases and change monetization processes quickly within Zuora. 

Process changes and evolving business requirements are inevitable as companies react to market conditions and adopt new ways to monetize. These requirements are often unique to each company and frequently demand substantial IT and implementation partner investments, and can make agility difficult. With a collection of productized components, Zuora’s Extension Studio enables customers to add new functionality to Zuora’s core applications and extend Zuora’s powerful, out-of-the-box functionality with minimal IT support. Power Admins can now quickly adapt to business changes by configuring custom business logic, objects, events, business process flows, user interface (UI) pages and more in the Extension Studio. 

“At Zuora, our focus has always been on providing modern businesses the tools they need to adapt and thrive in an ever-evolving market where agility is paramount. And we know one size does not fit all,” said Shakir Karim, Vice President, Product Management, Platform at Zuora. “With the launch of the Extension Studio, we’re putting the power of customization into the hands of admins, shaping how they use Zuora for their changing needs and staying ahead of the curve.” 

With Zuora Extension Studio, customers can now leverage:

  • A design studio, which offers Power Admins a graphical user interface to automate processes without coding
  • A point-and-click rules builder to configure validations, record states and action triggers supporting real-time, client-defined order orchestration processes
  • In-app action buttons like approvals, refunds, subscription pause and resume, and resend email notifications
  • A configurable UI builder to modify the Zuora user interface for varying business needs

Extension Studio will be available starting in early 2024. To learn more about the Zuora Platform, please visit here

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 Zuora Extension Studio. 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 this press release also includes market data and certain other statistical information, information that is based on estimates, forecasts, projections, or similar methodologies 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

October 17, 2023
Zuora for Consumption Expands with a Native Mediation Engine to Accelerate Growth through Consumption Pricing

New capabilities provide agility and insights to power consumption-based models 

REDWOOD CITY, Calif. and LONDON, October 17, 2023 – Zuora, Inc. (NYSE: ZUO), a leading monetization suite for modern businesses, today at Subscribed Connect London expanded Zuora® for Consumption with a native Mediation Engine. Zuora for Consumption provides a holistic solution to scale consumption-based offerings, helping companies price on different models, meter raw usage events across devices and services, inform customers of consumption in near real-time and is purpose-built to recognize revenue for consumption.

New technology and fierce competition are compelling businesses to monetize their products in new ways, with a significant shift toward consumption-based models. According to new research from Zuora’s Subscribed Institute and Boston Consulting Group (BCG), nearly half (46%) of companies analyzed implemented some form of consumption-based pricing in the last three years, and hybrid consumption models, businesses that drive both recurring and usage revenue, increased almost 3X (from 9% to 26%) between 2020 and 2022. New technology, including the explosion of artificial intelligence (AI) and the Internet of Things (IoT) is also expected to drive adoption of consumption-based models. 

However, identifying the right consumption-based model often takes iteration. It’s important for companies to be able to adapt as customers’ needs and economic conditions change to create ongoing value and predictability. While tracking consumption produces a wealth of data on how a product is used, translating this unpredictable raw usage into the right pricing model can be challenging and complex. With Zuora’s Mediation Engine, companies can now create flexible meters and consolidate usage data, unlocking new customer insights to rapidly experiment with pricing and better align with customer value.

“Modern businesses are driving recurring growth through a deep understanding of how subscribers consume their products,” said Kyle Kolich, Vice President, Product Management, Billing at Zuora. “Zuora’s new native Mediation Engine helps make this possible, integrating metering capabilities and pricing recommendations that improve consumption visibility, accelerate growth and even identify future opportunities to monetize.”

Part of Zuora for Consumption, the new Mediation Engine includes:

  • Ability to ingest raw usage data at 200k events per second
  • Out-of-the-box metering components to aggregate, enrich and transform event data through a drag-and-drop user interface (UI)
  • Ability to apply custom, proprietary logic to meters
  • Auditable usage recording tracking throughout rating, billing and revenue recognition

To learn more about Zuora for Consumption, please visit here.

Customer & Analyst Quotes

“Constantly evolving industry trends mean we are always thinking about our pricing, how we present offers, and the data points we want to collect and make decisions on. More than 90% of leading companies in 12 industrial sectors rely on AVEVA’s software solutions to help them design, build, operate, and optimize their plants and facilities. Adding Zuora for Consumption within our AVEVA CONNECT platform will give our customers critical visibility into their consumption habits, allowing us to provide transparency and deliver value as we iterate over time,” said Kevin Cornwall, CIO at AVEVA. “Zuora’s unique, end-to-end solution also helps us simplify the complex revenue recognition and compliance involved in consumption monetization.”

Recent IDC research found that while 42% of companies already have a consumption billing solution, it is inadequate for their future needs,” said Mark Thomason, Research Director for Digital Business Models and Monetization at IDC. “The new Mediation Engine in Zuora for Consumption enables customers to easily import, clean, and transform high-volume, raw consumption data so that consumption can be flexibly rated for any type of pricing scheme with a drag and drop interface.”

“With its new Mediation Engine and the ability to monetize consumption, subscription and one-time transactions together, Zuora is providing the revenue platform of tomorrow and powering businesses with complex consumption-based models,” said Stephen Hurrell, Vice President and Research Director in the Office of Revenue at Ventana Research.

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 Zuora Mediation Engine. 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. This press release also includes market data and certain other statistical information. Information that is based on estimates, forecasts, projections, or similar methodologies 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

October 17, 2023
Zuora Continues Innovation for All Industries, Announcing Industry Benchmarks in Zephr

Zephr surfaces consumption, transactional and subscriber data for segmentation and benchmarking

REDWOOD CITY, Calif. and LONDON, October 17, 2023 – Zuora, Inc. (NYSE: ZUO), a leading monetization suite for modern businesses, today at Subscribed Connect London announced a new Zephr capability, Subscriber IQ, which helps Product and Growth teams glean valuable subscriber insights through a connected view of subscribers combined with industry benchmarks, driving conversion and retention. With Zephr, companies across industries including Media, Saas, Gaming, Fitness and Hospitality are able to identify opportunities to expand customer lifetime value.

Today’s competitive landscape requires modern businesses to establish and nurture customer relationships over time. But doing this requires a deep understanding of subscribers, and quality insights have traditionally been difficult and time-consuming to leverage. With a connected view of subscribers across their consumption, transactional and demographic data, Zephr’s Subscriber IQ module provides modern businesses with a much richer understanding of each subscriber. New dynamic subscriber segments and industry benchmarks apply the extensive findings of Zuora’s dedicated think tank, the Subscribed Institute, and over 15 years of aggregated and anonymized subscriber data, to fuel growth directly within the Zuora® platform.

“Zuora has over 15 years of experience and insights spanning 500 million end-subscribers, across multiple industries, and over 3 billion invoices and payment transactions. All of this data, every subscription, amendment and cancellation can be harnessed to provide our customers with world-leading benchmarking and analysis, such as our long-standing Subscription Economy Index™. Now, we are making these insights available in our products for the first time,” said Amy Konary, Founder and Senior Vice President of the Subscribed Institute at Zuora.

Zephr’s Subscriber IQ module provides:

  • A connected view of subscribers, including transaction history, product consumption, demographics and more for an unprecedented understanding of the subscriber to aid in acquisition, upsell and churn management
  • Benchmarking of subscribers by segment or industry to reveal key metrics and growth opportunities
  • Actionable subscriber segmentation for presenting tailored offers and experiences to every customer

“With more competition than ever, digital services need to provide clear value. Zephr allows companies to understand and explore their subscriber base so they can keep up with their user’s evolving behavior,” said Chris Scott, Vice President and General Manager, Subscriber Experience at Zuora. “After working with thousands of companies across all types of recurring revenue business models, Zephr combines a deep understanding of subscribers with critical transactional data to examine best practices, present personalized offers and accelerate recurring growth.”

Zephr’s new Subscriber IQ module will be available starting in early 2024. To learn more, please visit here.

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 Subscriber IQ. 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. This press release also includes market data and certain other statistical information. Information that is based on estimates, forecasts, projections, or similar methodologies 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

October 17, 2023
Zuora Launches the Integration Hub to Accelerate Go-Lives and Provide Adaptability

Connect to critical integration points with over 60 pre-built connectors

REDWOOD CITY, Calif. and LONDON, October 17, 2023 – Zuora, Inc. (NYSE: ZUO), a leading monetization suite for modern businesses, today at Subscribed Connect London introduced the Integration Hub to the Zuora® Platform, making it even faster for technical teams to easily configure and maintain Zuora’s 60+ pre-built connectors to CRM, CPQ, ERP, payment gateways and more. With drag-and-drop integration all in one place, the Integration Hub helps reduce time to go-live with modern billing and revenue systems, enabling businesses to adapt with relative speed and ease.

As modern businesses expand globally, add new business units and evolve business processes, integrations between systems change and new connections are added. Businesses need to extend billing and revenue to an average of eight systems, often adding more connections as the business expands. With its pre-built connectors, the Zuora Integration Hub helps companies reduce time needed to set up these integration points and go live. After implementation, IT and Engineering teams can also minimize the cost and time needed to maintain custom integrations.

 “IT and Engineering teams are frequently tasked to build and update necessary integrations across a web of systems, from quoting and commerce to tax and payment gateways,” said Shakir Karim, Vice President, Product Management, Platform at Zuora. “The Zuora Integration Hub is about helping customers not only keep pace with the market, but stay ahead of it with a one-stop-shop to configure all connectors.”

The Zuora Integration Hub includes: 

  • Over 60 pre-built, configuration based connectors to enterprise applications, including new connectors for App Stores, Tax, CPQ, ERP, and Data Warehouses 
  • A Click-to-Connect user interface (UI) to empower admins to easily set up new integrations and modify data mappings directly within Zuora 
  • Comprehensive Developer Toolkits and Quickstart APIs to connect to any modern application

“We are excited about Zuora’s pre-built connectors strategy, and especially the new Hubspot Connector,” said Irina Chitimia, Solution Architect at Visma. “It lets us onboard new business units faster and allows us to quickly connect existing systems. As our business keeps evolving, it’s critical to have these integration points and be able to quickly update them.”

Zuora’s Integration Hub will be available in late 2023. To learn more about Zuora’s pre-built connectors, please visit here

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 Zuora Integration Hub. 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 this press release also includes market data and certain other statistical information, information that is based on estimates, forecasts, projections, or similar methodologies 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

October 17, 2023
Zuora State of Revenue Accounting Report Reveals Teams Crave More Automation, Lack of Confidence in Revenue Data, Increased Pressure and Negative Impact on Mental Health

New research reveals perspective on strategies, technology and objectives for successful revenue accounting

REDWOOD CITY, Calif. – August 16, 2023 – Zuora, Inc. (NYSE: ZUO), a leading monetization suite for modern businesses, today released the 2023 State of Revenue Accounting report, revealing critical challenges that revenue accounting teams are facing as well as opportunities to address the growing demands of the business, increase accuracy and streamline efficiency.

Complex revenue streams are the new reality of modern business, and the report found that revenue teams are under pressure to meet these demands by advancing their skills, processes and technology. For example, as companies innovate, revenue accounting leaders are increasingly feeling pushed to support new go-to-market models, products and pricing. Failure to adapt can lead to lost business opportunities, increased costs, unnecessary risks and a negative impact on the mental health of revenue accounting professionals.

Key findings of Zuora’s 2023 State of Revenue Accounting report include:

  • Audit costs are surging with revenue scrutiny: 76% of respondents report that scrutiny from auditors has increased in the past three years, and 65% report concerns about the risk of misstatement because of existing manual processes and control risks.
  • Poor revenue processes can lead to poor mental health: 63% of respondents report poor revenue processes affect their mental health, and 19% report having nightmares about revenue data or processes. Additionally, 59% report their revenue accounting team members feel unfulfilled with their work.
  • The business expects more from revenue teams: 76% of revenue accounting leaders say they’ve experienced increasing pressure from the business to support new go-to-market models, products and pricing. But 68% report not having the right technology to address growing demands from the business.
  • Revenue teams lack confidence in their data: Only 44% of respondents say they are highly confident in their revenue data. Bad data hygiene in upstream processes (39%) is highlighted as the top challenge revenue teams face.
  • Revenue accountants crave more automation: 79% of revenue accounting leaders agree there’s a need for higher levels of automation. Revenue accounting leaders also estimate their team wastes more than half (53%) of their time doing manual repetitive tasks, with 60% feeling that their Enterprise Resource Planning (ERP) revenue recognition modules do not fully support business requirements, even with customization.
  • But executives need more education on revenue automation: 67% of respondents say it’s a struggle to get buy-in from finance and accounting leadership to implement revenue automation.

“With more pressure than ever to innovate, companies are increasingly introducing complex revenue streams that leave revenue accounting teams struggling to support these business requirements,” said Emily Daigle, Vice President and General Manager of Zuora Revenue. “Zuora’s State of Revenue Accounting report shows the opportunities for teams to automate mundane tasks, reduce risk and unlock resources. Better collaboration across accounting, finance and business leadership will help companies strategically address market demand and become more customer-centric.”

Zuora commissioned an independent market research firm to survey over 500 accounting and finance leaders at enterprise organizations across North America and Europe to analyze the current state of corporate revenue accounting.

The 2023 State of Revenue Accounting report is available here.

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 trends of revenue accounting leaders. Any statements that are not statements of historical fact may be deemed to be forward-looking statements, and actual results could differ materially from those stated or implied in forward-looking statements. Information that is based on estimates, forecasts, projections, market research, or similar methodologies is inherently subject to uncertainties and may differ materially from actual events or circumstances.

Media Contact:
Margaret Pack
press@zuora.com
619-609-3919

August 16, 2023
Zuora Introduces the Command Center, Available for All Zuora Customers

One place for Zuora Admins to monitor critical activity and troubleshoot problems across multiple environments, supported with embedded AI

Redwood City, Calif., June 21, 2023 – Zuora, Inc. (NYSE: ZUO), a leading monetization suite for modern businesses, today at Subscribed Live announced the Zuora Command Center, a central solution for Zuora admins to monitor critical activity, manage multiple environments, and troubleshoot issues with the support of embedded AI.

Changing market demands and customer needs require modern businesses to frequently deploy new products, pricing and processes. Billing and revenue systems are mission critical, and connected to the rest of an enterprise architecture like CRM, ERP, payment gateways, tax and more. An error can stop a company’s entire monetization process and ability to transact. To mitigate the risk of lost revenues, IT and engineering teams need a robust solution for comprehensive monitoring, rigorous testing, and seamless deployments embedded in their billing and revenue systems. Without an enterprise-grade solution, modern businesses impede their own agility and inadvertently jeopardize long-term customer experience, financial accuracy, and revenue compliance.

“Zuora Admins are really heroes of their companies – they enable the business to quickly react to changing market demands and deploy new solutions,” said Shakir Karim, VP, Product Management at Zuora. “The Zuora Command Center enables Zuora Admins to move faster with their monetization strategies and stay ahead of potential issues.”

With the Command Center, Zuora Admins now have the ability to: 

Monitor mission critical activity within Zuora and across integrated systems

  • Monitor activity across sandbox and production environments through a configurable System Health Dashboard, and have near real-time visibility into transaction volumes and error messages. 
  • Be proactive by setting threshold alerts to stay ahead of spikes. 
  • Oversee the status of integrated systems, such as payment gateways and tax vendors.
  • Access multiple Zuora environments through a single login and easily manage users, groups, and environment permissions.

Accelerate deployments across Zuora environments

  • Use the Deployment Manager to quickly push new configurations to another environment, or rollback changes, and reduce the time for QA and testing.
  • Centralize the process of adding new users in various environments, reducing the time required to manage new users and setup testing requirements.  
  • Access all Zuora environments, support tickets, and documentation through a single login and easily manage users, groups, and environment permissions from one place.

Troubleshoot problems with the help of embedded AI  

  • Use embedded Zuora AI to diagnose issues with trained responses pulling from all documentation, community support, and more.
  • View open support tickets across the entire organization to understand work in progress, and easily create new tickets directly within the Command Center.

“Zuora’s Deployment Manager in the Command Center has been a game-changer for us,” said John Blanchard, Senior Financial Systems Manager at Twilio. “We recently implemented new functionality with multiple components, and with Zuora, there’s no need to make individual changes manually that slow us down – we have the foundation to support new products and change our go-to-market quickly.”

To learn more about Zuora Platform, please visit here.

Also today at Subscribed Live, Zuora announced the new Zuora Warehouse with BYOW, Zuora for Consumption, as well as Zephr, the Subscriber-Led Growth Engine

About Zuora, Inc.

Zuora provides a leading monetization platform for recurring revenue businesses across all industries, enabling companies to unlock and grow customer-centric business models. After starting with Zuora Billing in 2007, Zuora’s award-winning multi-product portfolio now also includes Zuora Revenue, Zuora Collect, and Zephr, all powered by the Zuora Platform. 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 platform, 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 Zuora Command Center. 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. This press release also includes market data and certain other statistical information. Information that is based on estimates, forecasts, projections, or similar methodologies 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

June 21, 2023