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Zuora Partners with BNP Paribas Leasing Solutions to Monetize Equipment Services in the Subscription Economy
Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Neutral)
Tags
partnership
Rhea-AI Summary
Zuora, Inc. (NYSE: ZUO) has partnered with BNP Paribas Leasing Solutions to launch innovative usage-based financial solutions for professional equipment. This collaboration aims to cater to the evolving needs of manufacturers by allowing customizable invoicing based on actual usage, thus facilitating a shift towards a more sustainable and circular economy. Initially targeting France and Germany, the initiative intends to expand across Europe, providing firms with enhanced access to necessary equipment without the burdens of ownership or maintenance.
Positive
Partnership with BNP Paribas Leasing Solutions enhances Zuora's service offerings.
Launch of usage-based financial solutions targeted at European manufacturers.
Focus on sustainability by promoting longer equipment lifetimes and reduced waste.
Negative
None.
International equipment finance leader moves toward a circular economy for Europe’s leading manufacturers with sustainable, usage-based equipment services
REDWOOD CITY, Calif. & NANTERRE, France--(BUSINESS WIRE)--
Zuora, Inc. (NYSE: ZUO), the leading cloud-based subscription management platform provider, and BNP Paribas Leasing Solutions, international equipment finance player, today announced a partnership to offer new usage-based solutions for professional equipment. Part of one of the world’s 10 largest banks, BNP Paribas Leasing Solutions provides financing services for professional equipment across 20 countries around the world, and together with Zuora®, will enable its industrial partners to nurture and monetize ongoing customer relationships with usage-based offerings.
“BNP Paribas Leasing Solutions, an established European leader in equipment finance, is now at the forefront of financial services transformation as they embrace the Subscription Economy® with new monetization strategies,” said Robbie Traube, President and Chief Revenue Officer at Zuora. “Now on Zuora, BNP Paribas Leasing Solutions will have the flexibility and agility to make critical equipment more accessible and tailored to companies’ individual needs, all while providing more sustainable options.”
With Zuora, BNP Paribas Leasing Solutions will enable its partners to offer new usage-based solutions to their own clients, eliminating the need for companies to maintain the equipment, with customized invoicing based on how and when machinery is used. These services also aim to provide a more sustainable approach by prolonging equipment’s lifetime, reducing upgrade costs and enabling the purchase of second-hand and refurbished equipment.
“As the Subscription Economy expert, Zuora is the ideal partner to combine an offer with our equipment finance expertise,” said Isabelle Loc, CEO at BNP Paribas Leasing Solutions. “Their innovative and evolutive platform will allow us to provide flexible financial solutions, constantly adapting to the actual usage of the equipment. Our future financing offers will be driven by the equipment consumption and optimization through additional services such as maintenance and lifecycle management. This will help companies deliver on their core business while closely managing their budget and quality of service to their customers.”
BNP Paribas Leasing Solutions’ usage-based offerings will first launch in France and Germany, with a goal to expand across Europe.
To learn more about how Zuora powers the full quote to cash and revenue recognition process, please visit zuora.com.
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 quote to cash and revenue recognition process. 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.
As the European leader in asset finance, BNP Paribas Leasing Solutions supports the growth of its clients and industrial partners by offering rental and finance solutions with services for their professional equipment. At the heart of the usage economy, we provide businesses with the flexibility they need to remain competitive and grow in a sustainable way. Our 3,700 experts support our clients' and partners' growth by offering them an increasingly digitalised experience. In 2021, we financed 343,000 projects for a total volume of 14.7 billion euros in 20 countries, in Europe and also Asia, the United States and Canada. Learn more: leasingsolutions.bnpparibas.com.
What is the recent partnership announced by Zuora (NYSE: ZUO)?
Zuora has partnered with BNP Paribas Leasing Solutions to create usage-based financial solutions for professional equipment.
Which countries will the new usage-based solutions for equipment initially launch in?
The new solutions will initially launch in France and Germany.
How does the partnership between Zuora and BNP Paribas Leasing Solutions benefit manufacturers?
It offers manufacturers customizable invoicing based on actual equipment usage, reducing the need for ownership and maintenance.
What is the goal of the collaboration between Zuora and BNP Paribas Leasing Solutions?
The goal is to promote a more sustainable approach in the equipment finance sector by extending equipment lifetimes and facilitating access to second-hand options.
What impact does the new offering have on the Subscription Economy?
The offering supports the Subscription Economy by enabling continuous monetization and customer relationship management through usage-based services.
