Over 50 new features automate the invoice to cash process for even the most sophisticated payments operations.

Zuora’s November ’10 release delivers the 21st consecutive month of new capabilities through its Z-Commerce cloud computing platform.

Redwood Shores, CA — November 18, 2010

Market Leading Payment Sophistication with Zuora’s Ease of Use

Zuora, the leader in subscription billing, today announced Z-Payments 3.0, the next-generation of its subscription commerce solution. With Z-Payments 3.0, even the most sophisticated payments operations can be managed easily, from invoice to cash, all entirely in the cloud.

While companies seek to innovate with new subscription business models, technology roadblocks have gotten in the way. Forced to rely on resource-draining homegrown applications, legacy platforms built for one-time charges, or worse, arcane accounting work-arounds, companies have struggled to handle the volume and complexity of subscription products.

With Z-Payments 3.0, Zuora delivers over 50 new features to help companies automate their subscription payments operations. This marks the 21st consecutive month of product innovation from the subscription billing and commerce leader. Now Z-Payments 3.0, combined with Zuora’s Z-Billing and Z-Force applications, deliver the world’s most complete billing and commerce solution for the subscription economy.

“Zuora’s pace of innovation is what sets this company apart from other subscription billing solutions,” says Chris Drake, CEO and founder of FireHost. “Z-Payments 3.0 allows us to manage rapid growth, as well as to quickly mitigate changes to existing client accounts, flawlessly, without adding additional staff to our billing operations department.”

Over 50 New Capabilities to Automate Subscription Payments

Z-Payments 3.0 easily automates payment operations in the cloud with over 50 new and enhanced features, empowering companies to:

Proactively Manage Payment Notifications:

• The payments notification engine makes it easy to automatically and proactively update customers and stakeholders about any payment status
• Proactively email customers about upcoming payments or expired credit cards
• Notify customers and internal stakeholders when a payment fails
• Create different notification rules for individual customers
• Setup custom email templates for every scenario
• Create account payment profiles to store notification rules and email templates

Keep Payment Options Flexible:

• Accept electronic payments from credit cards, debit cards, PayPal, tokenized transactions and automatic bank account debits (ACH)
• Easily track payments made with offline methods like checks, cash and wire transfers
• Process subscription payments for all customers at once, or group them by currency, gateway, or billing cycle
• Take payments at any time on any day to ease the burden on new customers

Get Robust Payment Processing:

• Sophisticated retry logic automates even complex credit card processing
• Multiple payment gateways deliver the best rates and maximize payment acceptance
• Automatically apply payments and credits against invoices for consolidated reporting and easy reconciliation
• PCI Level 1 compliant payments platform
• New integration with Litle & Co. payment gateway

Make Adjustments Easily and On-the-Fly:

• Credit balances offer a new way to manage overpayments and smooth out cash flows
• Create ad hoc invoice adjustments down to the individual line item
• Offer credits, invoice adjustments, or refunds with a single click
• Make sophisticated invoice line item adjustments, tracking service periods and accounting treatment for accurate revenue recognition
• Easy, one-click payment cancellations

Get Detailed Payment Analytics:

• Ad-hoc and canned reports, including custom fields, for every transaction and step from invoice to cash
• Create customer facing invoice statements that trace every activity, payment, refund and credit
• Fully auditable transaction history offers a clear view of all payments and adjustments
• Automatically link payments with invoices for easy reconciliation, helping resolve questions and payment disputes

Easily Customize, Integrate and Manage the App:

• Add custom fields to every object, anywhere in the payment process
• Easily manage multiple payments currencies
• Sophisticated permissions and profiles give you fine grain security control
• Easy integration with your accounting applications

“As the leader in subscription billing, Zuora has had the most experience with the most companies tackling the most frequent to the most complex payment requirements, and we’ve transferred all of that knowledge into Z-Payments 3.0,” said Tien Tzuo, CEO at Zuora. “Our monthly innovation cycle means we are regularly adding these enhancements so our customers benefit immediately rather than a 6 or 12 month release cycle. Our commitment to delivering on this timeline continues to be the most aggressive and consistent in the SaaS market.”

Z-Payments 3.0 is part of Zuora’s November ’10 release, the company’s 21st consecutive monthly product release, which is now available to all Zuora customers.

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 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, Cloud Central and EMC.

To learn more about Zuora, please visit zuorainternprd.wpengine.com.