Zuora’s July ‘13 Release Delivers Deeper Accounting Alignment, Simplifies Customer Acquisition and Speeds Cash Collections

July 29, 2013

Latest release introduces a new chart of accounts feature, more quoting configurability, and further international payment support

Foster City, CA – July 29, 2013

Summary

  • Zuora, the leader in subscription commerce, billing and finance, today announced the immediate availability of its July 2013 product release. Zuora continues its commitment to continuous innovation through regular feature releases this month by introducing a new chart of accounts structure, more out-of-box quoting capabilities, better quoting configurability, and broader payment options for merchants in Canada, Great Britain and Europe.

Highlights of the July 2013 release include:

New Chart of Accounts Structure

  • Zuora has always been complementary to a customer’s accounting system. With this latest release, Zuora introduces a new structure for customers to define chart of accounts in Zuora to match the structure in their accounting application. This deeper alignment eases the reconciliation process between Zuora and accounting applications.

Error-Free Accounting Code Mapping

  • Customers are now able to select from a pre-defined list of enumerated accounting codes on screens such as product creation and invoice adjustment screens. This will reduce errors and resolve common reconciliation challenges that customers face when these codes are incorrectly assigned.

Improved Quoting Flow for Accelerated Cash Collections

  • This month, Zuora introduces the ability to securely capture electronic payment details such as credit card information during the quoting process. This eliminates the added operational steps of contacting a customer post-sale for payment information, ultimately resulting in faster cash collections.

Faster, Easier Quote Configurability

  • In the B2B world, it is critical for customers to be able to tailor their sales quoting processes to match the needs of unique sales operational flows. This month, Zuora has delivered a number of enhancements that make it easier for customers to add or remove fields, rearrange page sections, change lists and tables, control page layouts by leveraging reusable components and with just a few clicks.

Initiating Cancellations from salesforce.com

  • Zuora has always provided customers the ability to initiate new sales, add-ons, upgrades, downgrades and renewals directly from salesforce.com. This month, customers now have the ability to submit subscription cancellations directly from salesforce.com. This allows front office personnel to save time by managing the subscription lifecycle from beginning to end, without logging into multiple systems.

Authorize.net Expands to Canada, U.K., Europe

  • Zuora’s strong partnerships with leading payment gateways ensures that customers can take advantage of gateway enhancements when they become available, without additional development effort. Authorize.net recently began supporting payments in Canada, Great Britain and Europe, which has been incorporated into the existing Authorize.net-Zuora integration. Any Zuora customers located in these countries can now leverage Authorize.net as their payment gateway of choice.

Each of Zuora’s hundreds of customers automatically receive this product update with no negative impact to existing configurations and customizations. This is only possible with the modern, multi-tenant SaaS architecture found in Zuora’s Z-Business platform. Customers can read about the details of the July ‘13 release here.

Commentary

  • “We welcome the new chart of accounts feature in Zuora’s July ’13 release. Having robust chart of functionality will help provide the foundation that makes is easier for Rightscale to align Zuora data with our accounting application. We look forward to Zuora’s continued innovation in this area.” said Kevin Spinelli, Director, Finance and Administration at RightScale.”
  • “Zuora is always thinking about how its customers can run their businesses more efficiently and deliver a commerce experience that closely aligns with their needs. As part of the July 2013 release, we can now collect customer payment details as part of our salesforce quoting process. This means that at DotLoop, we can begin processing a payment the instant that one of our prospects accepts a quote and becomes a customer,” said Dustin Abney, Director of Customer Experience.
  • “With this latest release, the Zuora team wanted to focus on deeper integration with our customers’ existing systems to further ease the payment and reconciliation processes,” said Marc Aronson, SVP of Engineering at Zuora. “As more and more businesses are evolving into the Subscription Economy, Zuora wants to ensure that any company can quickly and easily deploy a subscription-based billing system that meets their business and customers needs.”

About Zuora, Inc.

Zuora is the global leader in Relationship Business Management (RBM) solutions. Zuora delivers the subscription commerce, billing and finance capabilities that have become the industry standard to help companies transition to the Subscription Economy. Enterprises and emerging companies alike use Zuora’s multi-tenant cloud solution to streamline key processes, provide visibility into the metrics that matter most and serve as the financial engine of the business. Zuora services innovative customers like Informatica, Tata Communications, Box, Zendesk, DocuSign, Xplornet, Ustream and Reed Business Information. To learn more about Zuora, please visit www.zuora.com, Like us on Facebook, follow us on Twitter, join us on LinkedIn, hang out with us on Google+, or visit Z Blog.