Entry of Global Subscription Billing Leader Heralds Rise of Subscription Economy in Asia
Singapore – May 7th, 2014 — Zuora, the leader in subscription commerce, today announced their plan to open an office in Singapore to support its growing customer base in Asia. This follows the opening of Zuora’s European office in London and Asia Pacific operations in Australia in 2010 and 2012 respectively to meet the growing demand for its services globally. Over 25% of Zuora’s business now comes from outside the US and and in the last year, Zuora increased its international staff by over 40% to respond to increased opportunity in those markets.
Zuora’s journey to global leadership began in 2007 with a singular vision of a Subscription Economy — a world where companies of all sizes would offer broad libraries of services via subscriptions instead of the traditional model of delivering products. In the last six years, the emergence of subscription-based services build around recurring revenue business models has caused a major transformation across multiple multi-billion dollar industries. This massive shift is having a disruptive and profound impact on companies across the globe in a wide-range of sectors, including media, technology, consumer retail, telecommunications, financial services and healthcare services, to name a few.
Despite being in the business of automating processes, Xactly was tracking and managing its customer subscriptions, from invoicing to renewals, in Excel spreadsheets. The company’s incredible growth over the last five years started to outstrip these manual processes, leaving them susceptible to costly human error.
CEO Chris Cabrera explains, “We were running full-steam-ahead and things seemed to be going fine. We were caught up in the excitement of ongoing double and triple digit growth when it came to my attention that we had not billed $200,000 in subscription fees on time for the past few months. That’s when I realized that Xactly needed a solution to help us keep pace with our growth.”
As a big believer in cloud computing, Cabrera decided to use only cloud-based solutions to support his company operations. To help scale the company’s growth, Cabrera assembled a “dream team” of cloud computing leaders, including salesforce.com for customer relationship management, Workday for financial accounting, OpenAir for professional services, and Zuora for billing and commerce.
Leveraging cloud solutions from leaders in the industry enabled Xactly to gain the benefits of world-class enterprise applications without time-consuming and costly hardware and software deployments. Today, Xactly uses Zuora as a platform that stitches together Salesforce CRM, Workday, and OpenAir, allowing transactions to flow between CRM, accounting, and professional services automation — giving Xactly a seamless, cloud-based quote-to-cash process. Zuora not only helped Xactly resolve its issue with overlooked invoices, but also ensures the company’s billing system is able to scale and keep pace with the company’s growth.
With the new platform in place, Xactly recently used Zuora to launch Incent Express, a product targeted at the SMB market. Incent Express is a native Force.com offering that is sold via the salesforce.com AppExchange. Zuora enabled Xactly to create new pricing plans for Incent Express and facilitated both the process for customers to purchase the product directly from AppExchange and the internal upsell process from Express to SPM Suite.
“Zuora made it incredibly easy for us to launch a new product. We didn’t have to think about how we were going to establish new customer accounts and collect subscription fees,” added Cabrera. “With Zuora, our billing system is a whole order of magnitude better than what we had before, and we know we now have the right solutions in place to help us continue to grow.”
“We gave Xactly a complete billing and commerce solution, seamlessly tied into CRM, accounting, and professional services automation to create a state-of-the-art quote-to-cash system — All in the cloud,” said Tien Tzuo, Founder and CEO at Zuora. “This is the vision we had when we started Zuora; this is the system we wish we had when I was at salesforce.com; and it’s a reality today.”
About Zuora, Inc.
Zuora’s subscription billing and commerce platform changes the way subscription businesses manage and sell to customers, allowing them to bring new products to market in less time, with more flexibility and less hassle. Zuora customers are up and running within 30 to 90 days and often recognize 200% ROI within weeks. Zuora is built from the ground up by SaaS industry visionaries and veterans from salesforce.com, WebEx, Accenture, Google, eBay, Oracle and Vitria. Zuora customers include Reed Business Information, Coremetrics, InsideView, Marketo, Ricoh, Box.net, Xactly, HD Cloud, Cloud Central and Sun Microsystems. To learn more about Zuora, please visit www.zuora.com.
About Xactly Corporation
Xactly Corporation is the market leader in on-demand sales performance management. The company’s SPM Suite of products, enables sales and finance executives to design, implement, manage, audit and optimize sales compensation management programs easily and affordably. Xactly’s solutions automate the process of aggregating data from disparate systems into a secure, hosted repository, and enable companies to leverage this business data, which is the lifeblood of sales performance management. Xactly helps companies improve operational performance, optimize sales effectiveness, proactively manage risk and compliance, and maximize profits. The Xactly family of products is used by sales and finance executives, compensation analysts, sales operations and sales professionals across a variety of industries, ranging from SMBs to large enterprises. For more information, visit www.xactlycorp.com or call 1-866-GO-XACTLY (469-2285).