REDWOOD CITY, Calif.--(BUSINESS WIRE)--Zuora, Inc. (NYSE: ZUO), the leading cloud-based subscription management platform provider, today announced Real-Time Revenue for Zuora® Revenue. Now, with Real-Time Revenue, businesses can automatically recognize, reconcile, and analyze their revenue to more accurately close the books as early as day zero, while leveraging new instant insights to make strategic revenue decisions.
As companies adopt increasingly complex pricing models to incorporate a mix of subscriptions, one-time, and usage-based offers, the financial close process becomes more complex, prone to human error, and can span to weeks. Time wasted and additional risk also makes revenue forecasting challenging.
With Real-Time Revenue, companies can reduce end of financial period crunch times. A new Close Process Dashboard continuously reconciles revenue, immediately identifying and escalating any errors to be resolved. While the traditional reporting process produces obsolete data that could be weeks behind, with Zuora Revenue, new Revenue Analytics now appear instantly on a single page and are updated in real time to more accurately forecast, plus set and meet new revenue targets.
“Closing the books no longer needs to be a tedious process that only happens at the end of a financial period,” said Karthik Ramamoorthy, GM & VP of Products at Zuora. “With Zuora Revenue, real-time close and revenue reconciliation are finally possible. Financials can be updated as soon as a deal is booked.”
The Zuora suite now spans and completes a real-time connection from billing to collections to revenue. With a revenue recognition solution for any combination of subscription, one-time, and usage-based services, Zuora Revenue makes it simple for businesses to manage frequent changes in the subscription order-to-revenue process.
“Implementing Zuora Revenue reduced our time to close the books, and now with Real-Time Revenue, we expect to see even more significant time savings that will allow us to focus on higher value activities," said Luciana Maddalozzo, Revenue Accounting Ops Lead at Cisco Systems.
“Even today, too many organizations rely on manual and Excel-based revenue management processes. This lack of automation translates into hidden errors, re-statement of results and loss of confidence in financial statements,” said Andrew Dailey, Co-Founder and Managing Director at MGI Research. “Organizations must be proactive about innovating in revenue management, to create near real time, end-to-end visibility of the monetization process.”
To learn more about Zuora Revenue, visit here.
The products, features and functions mentioned in this press release presentation are estimated to be generally available on November 20, 2021; however, the development, release and timing of any products, features or functionality remain at the sole discretion of Zuora and are subject to change. This press release contains forward-looking statements regarding the expected benefits of Zuora’s Real-Time Revenue product. 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 final prospectus related to the initial public offering filed with the Securities and Exchange Commission (SEC) on September 3, 2021, 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.
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-revenue process across billing, collections and revenue recognition. Zuora serves more than 1,000 companies around the world, including Box, Ford, Penske Media Corporation, Schneider Electric, Siemens, Xplornet and Zoom. Headquartered in Silicon Valley, Zuora also operates offices around the world in the U.S., EMEA and APAC. To learn more about the Zuora platform, please visit www.zuora.com.
© 2021 Zuora, Inc. All Rights Reserved. Zuora, Subscribed, Subscription Economy, Powering the Subscription Economy, and Subscription Economy Index are trademarks or registered trademarks of Zuora, Inc. Third party trademarks mentioned above are owned by their respective companies.
SOURCE: ZUORA FINANCIAL