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Zuora Recognized as a Global Leader in the First IDC MarketScape for Subscription Relationship ManagementSAN MATEO, Calif., Nov. 27, 2017 (GLOBE NEWSWIRE) -- Zuora, Inc., the leading SaaS provider of subscription order-to-cash solutions, was named a Leader in the IDC MarketScape: Worldwide Subscription Relationship Management 2017 Vendor Assessment (Doc #US43172417, November 2017). Among the nine vendors evaluated, Zuora® was described as having leading SRM capabilities. The Subscription Economy® is here. In recent years, several reports have documented glimpses of a global subscription movement. In 2013, The Economist found that 80 percent of customers are demanding new consumption models and moving away from traditional ownership. In 2015, Credit Suisse reported that people in the U.S. spent $420 billion on subscriptions, up from $215 billion in 2000. And those companies that use subscription business models are seeing up to eight times the revenue growth compared to traditional product-focused companies. The IDC MarketScape report states, “60% of providers of digital products and services are developing subscription business models to give customers more ways to buy, according to IDC’s Digital Business Models Survey. However, only 20% have the right systems in place to support this.” “This technology is essential for companies that are monetizing digital products and services. For many companies, the shift from physical products to digital services is ‘make or break,’” states the IDC MarketScape. “The heavily customized, hard-coded solutions of yesteryear do not meet the needs of today's fast-moving digital enterprises.” The Zuora Central subscription order-to-cash platform is the system enabling success for more than 900 companies in the Subscription Economy. According to the report, “Customers interviewed for this IDC MarketScape cited the breadth of functionality as a key feature of Zuora. In addition, customers were happy with the strong pace of innovation and the clear communication of the road map and quarterly release cycles.” Zuora Central integrates six essential engines that power the real-time updates across Zuora’s expansive product portfolio (Zuora Billing, Zuora RevPro, Zuora Collect, Zuora CPQ, and Zuora Insights), third party applications, and the more than 100 apps in the Zuora Connect Marketplace. Zuora is highlighted as having a transparent SaaS solution. The IDC MarketScape states, “All settings and configuration options are exposed to the customer. Zuora's configurability of products, billing rules, revenue rules, invoice templates, and so forth are designed to lend to ease of administration and fast time to go live.” The IDC MarketScape also notes that “Leeyo has become Zuora RevPro, bringing capabilities such as unbilled revenue accounting, backlo forecasts, Standalone Selling Price (SSP) analysis, automated recasting of historical contracts, and parallel viewing of contracts under both old and new guidelines, all of which are key capabilities that will help companies make the transition to ASC 606/IFRS 15.” “Companies large and small across all industries have shifted their business models from shipping products to delivering subscriber services and experiences,” said Tom Krackeler, SVP of Product at Zuora. “We believe that, in the future, growth will only come from subscriptions and we will continue to invest and innovate to ensure our customers flourish in the future of the Subscription Economy.” Download an excerpt of the “IDC MarketScape: Worldwide Subscription Relationship Management 2017 Vendor Assessment” report, here. Read Zuora’s blog post, here. Customer Quotes
Additional Resources “The Subscription Economy: A Business Transformation” by Tien Tzuo, CEO of Zuora About Zuora, Inc. About IDC MarketScape Media Contact: © 2017 Zuora, Inc. All Rights Reserved. Zuora and Subscription Economy are trademarks of Zuora, Inc. Third party trademarks mentioned above are owned by their respective companies. 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. To learn more about the Zuora platform, please visit www.zuora.com. |