San Mateo, Calif. – February 20, 2019 – Zuora, Inc. (NYSE: ZUO), the leading cloud-based subscription management platform provider, today announced that it was named the top-rated vendor among 16 – including traditional ERP providers such as Oracle, SAP and Amdocs – in the latest MGI Research Agile Billing Solutions Buyer’s Guide.
The world’s largest companies are adopting the subscription business model to generate new recurring revenue growth. In fact, 16 of the Fortune 100 are now Zuora® customers. According to MGI Research forecasts, the total addressable market for software that manages recurring revenues is expected to exceed $172 billion by 2022.
Companies with legacy ERP systems designed for a product economy are finding these new recurring revenue models are growing with lots of dynamic change that creates downstream pain for all roles in the finance organization. “The reason that traditional ERP systems are not able to fill the capability void in billing stems from their fixed, often brittle, and coarsely granular approach to anything outside general ledger,” wrote authors of the MGI Research report.
“This creates a need for a modern platform that can connect an organization’s front facing CRM system with their backend ERP finance system to automate all order-to-revenue processes in the Subscription Economy,” said Andrew Dailey, Managing Director at MGI Research.
According to the report, “Agile Billing becomes an agenda item when organizations realize that they can no longer match their competition in terms of time-to-revenue, when they are unable to offer flexible new pricing plans and when their ability to accurately invoice, collect, report, disclose and forecast revenue is in question.”
“In the Subscription Economy, finance organizations must adopt a new system that enables them to evolve their pricing, billing, collections, and revenue accounting — all while removing operational inefficiencies and driving more efficient growth. That’s why we’re seeing the rise of a third cloud between CRM and ERP to address the growing needs of companies seeking growth in the Subscription Economy,” said Tom Krackeler, SVP of Products at Zuora.
And compared to other SaaS-based solutions in the market, the authors of the report stated, “Zuora brand visibility, funding, pure-cloud architecture, deployment methodology, and size of channel separate Zuora from the rest of the next-generation, SaaS-only suppliers. When compared to the early entry by Salesforce, the Zuora solution is broader, deeper, more mature and backed by a more seasoned team.”
About Zuora, Inc.
Zuora provides the leading cloud-based subscription management platform that functions as a system of record for subscription businesses across all industries. Powering the Subscription Economy™, the Zuora® platform was architected specifically for dynamic, recurring subscription business models and acts as an intelligent subscription management hub that automates and orchestrates the entire subscription order-to-cash process, including billing and revenue recognition. Zuora serves more than 1,000 companies around the world, including Box, Komatsu, Rogers, Schneider Electric, Xplornet and Zendesk. Headquartered in Silicon Valley, Zuora also operates offices in Atlanta, Boston, Denver, San Francisco, London, Paris, Beijing, Sydney, Chennai and Tokyo. To learn more about the Zuora platform, please visit www.zuora.com.
© 2019 Zuora, Inc. All Rights Reserved. Zuora, Subscription Economy, Powering the Subscription Economy are trademarks or registered trademarks of Zuora, Inc. Other names and brands may be claimed as the property of others. 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