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Zuora Launches New Unified Monetization Solution to Help Customers Monetize Subscriptions as Well as Non-Subscription Offers, Unlocking the Subscription Economy for New Industries
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Rhea-AI Sentiment
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Rhea-AI Summary
Zuora, Inc. (NYSE: ZUO) has launched a new Unified Monetization solution at its customer event, addressing the growing consumer preference for services over ownership. This platform will allow businesses to monetize subscriptions, products, and usage-based services in one integrated experience. With 75% of consumers favoring services, Zuora aims to support diverse monetization models, enabling companies to enhance subscriber experiences. Additionally, new enhancements to Zuora's Central Platform will enable faster deployment and increased productivity for users, further solidifying its position in the Subscription Economy.
Positive
Introduction of Unified Monetization solution, enabling diverse monetization models.
Addresses significant consumer trend towards services over ownership.
New Central Platform enhancements can improve deployment speed by up to 30% and productivity by up to 80%.
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None.
REDWOOD CITY, Calif.--(BUSINESS WIRE)--
Zuora, Inc. (NYSE: ZUO), the leading cloud-based subscription management platform, today announced an all new Unified Monetization solution at The Journey to Usership™: A Day for Zuora® Customers event. As consumers increasingly prefer usership to ownership1, businesses are finding new ways to turn products into the ongoing services customers are demanding. To support these new business models, for the first time, Zuora is opening up its platform beyond pure subscription businesses. The solution will enable companies to monetize their subscriptions, products, and usage-based services with one unified experience.
With 75% of global consumers indicating2 they increasingly prefer to use services rather than own physical goods, product-centric companies are racing to complement their physical goods with new subscription services. With Unified Monetization, Zuora is empowering these companies to join the Subscription Economy®. It also empowers digital-first subscription natives to expand their services by including one-time offers to grow subscriber relationships over time. Zuora customers now have the freedom to monetize any combination of one-time, recurring, or usage-based services to deliver differentiated ongoing subscriber experiences.
Unified Monetization enables companies to monetize anything-as-a-service, for example:
Telecommunications-as-a-service unifying virtual meeting licenses with web cameras and installation services
Mobility-as-a-service unifying electric cars with electric vehicle (EV) charging services
Content-as-a-service unifying streaming video with live event tickets
“Subscriptions are essential for transforming the next generation of businesses, but they shouldn’t be the only option,” said Sri Srinivasan, Chief Product and Engineering Officer at Zuora. “To deliver the best ongoing subscriber experiences, companies are looking to combine offerings in new ways, with a mix of subscription, usage, and one-time offers.”
Also announced at The Journey to Usership, Zuora unveiled a host of new enterprise and developer focused Central Platform advancements to help companies move even faster, including:
A new Software Development Kit (SDK) that empowers companies to launch their new monetization applications up to 5X faster and reduce coding hours by up to 80%
New Configurable UI that gives business users a boost in in-app user productivity with a completely configurable user experience
New IT tools that make deploying Zuora up to 30% faster
Zuora Central Platform is built to meet enterprise demands, with customers who are processing more than three million invoices per hour, and scaling with customers providing services to more than 100 million subscribers.
“We are thrilled to see Zuora’s pace of innovation to support our non-recurring Consumable and Field Service offerings,” said Trevor Owens, VP of Architecture at Quench. “Unified Monetization will provide the flexibility to seamlessly bill for all our products, subscriptions, and services on a single platform, and if desired, a single invoice. This will eliminate tedious back-end integration and data reconciliation efforts present today – providing the immediate agility to monetize our water-as-a-service on a single platform.”
“A subscription business model and an exceptional customer experience are equal priorities for many organizations,” said Stephen Hurrell, VP & Research Director at Ventana Research. “The key aspect of a positive subscription model customer experience can be summed up as ‘seamless.’ For companies with a mixed business model, combining one-time sales with subscription and usage-based products and services, this seamless processing is of paramount importance to ensure that the consumer is not aware of the potentially disparate systems supporting the overall process.”
To learn more about Unified Monetization and Zuora’s new enterprise platform enhancements, visit here.
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.
