[September 24, 2014] |
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Zuora's Business Doubles in Europe as the Subscription Economy Sky Rockets
LONDON --(Business Wire)--
News:
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Zuora (News - Alert), the subscription commerce, billing and finance leader, has
experienced 137% growth in Annual Contracted Value ending in July 2014
as businesses increasingly undertake the transformation of their
pricing and delivery models to meet changing consumer requirements.
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Delivering SaaS (News - Alert) applications for subscription business models, Zuora
has enabled nearly 100 subscription businesses in Europe to introduce
a strategy of Relationship Business Management, allowing them to
nurture long-term relationships with their customers, founded on rich
subscription experiences.
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Since July 2013, Zuora has grown its customer base in Europe by 80%,
acquiring leading, innovative international enterprise businesses
including The Guardian, GDF Suez, Unify, and RTL Nederlands. As a
result Zuora has secured over $2 billion in additional contracted
volume in the last 12 months alone and has seen usage volume more than
double, reflecting customer success in leveraging the subscription
model platform
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With four out of five businesses recognizing that their customers are
switching to new consumption models, according to research conducted
by the Economist Intelligence Unit [1], and 72% confirming that their
own business' consumption preference is shifting to rental and
subscription models, Zuora foresees the continued expansion of the
subscription economy.
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Tien Tzuo, Founder and CEO, Zuora said, "Our vision and belief has
always been that we would see the world subscribed, and the momentum
we are experiencing in Europe is proof that businesses are
prioritizing their customers' needs and building experiences that are
compelling to nurture lasting relationships. They are becoming
Relationship Businesses, and this involves significant business and
technical transformation."
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In the last year, Zuora has increased its European employee-base by
50% with offices in London, Paris, Munich and Amsterdam, and continued
to expand its teams in France, Germany, Nordics and Benelux. With
initial investment from leading European fund, Index Ventures, of $36
million in 2011 and further investment from Next World Capital, an
international expansion-stage venture capital firm in 2013, Zuora has
now raised over $130 million and aims to continue to use these funds
to expand internationally across Europe.
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Today Zuora is hosting Subscribed Europe 2014, the only conference
designed to help leaders in finance, IT, marketing, operations and
sales embrace subscription models to reinvent and modernize their
businesses. Over 700 industry professionals join speakers including
senior executives from KCOM, The Guardian, Financial Times, GDF and
Accenture (News - Alert) to addres how businesses should adapt to the evolution of
the subscription economy.
Customer commentary:
Frédéric Halley, Venture Partner, Next World Capital comments:
"The Subscription Economy is gathering pace, and the increase in
businesses adopting this model in Europe is evident. Over the next five
years we expect to see a number of enterprise businesses recognizing the
financial benefits of adopting a subscription offering which has the
ability to grow and nurture long-term customer relationships. A number
of firms currently operate with legacy models which are insufficient to
manage this change and those firms ought to be considering how they will
address this now."
Pete Tomlinson, Sales & Marketing Director, Eclipse said: "With
the convergence of the traditional software and communications
industries, businesses are rightly demanding that technology should be
easy and enjoyable to use. The shift from traditional product based
transactional sales models, towards developing the kind of service-led,
long-term relationships new Subscription Economy demands, is central to
delving on this ambition and our continued 35% annual sales growth.
Having the right underpinning systems is critical to our success and
Zuora is a fundamental part of building a new kind of business model.
Vincent Deriot, CIO, Neopost said: "As a European business that
operates globally, we see subscriptions as an important part of our
business model going forward. With the subscription model, we can offer
our customers flexible pricing models to better meet their needs. We
manage distribution in global markets with different operational
cultures, currencies and mindsets. We needed a flexible and scalable
solution that would allow us to gain traction in all our markets; we
chose Zuora."
About Zuora
Zuora is the global leader in Relationship
Business Management (RBM) solutions, helping companies in every
industry transition to the Subscription
Economy. Enterprise leaders and high-growth companies alike use
Zuora's multi-tenant cloud platform to launch, scale, and monetize their
subscription services. Zuora's applications work where traditional ERP
applications fail: Subscription pricing, quoting, orders, billing,
payments, and renewals. Built from the ground up by SaaS industry
veterans from salesforce.com,
PayPal, and NetSuite (News - Alert), Zuora services innovative customers like Informatica,
Tata
Communications, Box,
Xplornet,
Ustream
and Reed
Business Information. To learn more about Zuora, please visit zuora.com
[1] Research conducted amongst 293 companies globally by Economist
Intelligence Unit in conjunction with Zuora
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