SAN MATEO, Calif., July 31, 2017 (GLOBE NEWSWIRE) -- Zuora, Inc., the leading provider of subscription commerce, billing and finance solutions, was cited as a leader by Forrester in “The Forrester Wave™: Recurring Customer And Billing Management, Q3 2017” report (Forrester Research, Inc., July 31, 2017, Lily Varon). Among the nine vendors evaluated, Zuora® was ranked highest in both the Current Offering and Strategy categories.
Forrester writes, “Zuora is a thought leader, and the platform supports customers as they scale. Based in San Mateo, California, Zuora has a strong focus on thought leadership and innovation. The company has an aggressive product vision and roadmap with a goal to augment and enhance every business process and technology in the order-to-cash chain for subscription businesses.” The report goes on to say, “Additionally, Zuora’s product line allows firms whose business models may become more complex in the future to avoid future replatforming by graduating from the baseline Zuora product edition, Growth, to Enterprise and then to Nine (the full-featured edition) without disruption.”
According to the authors of the report, subscription billing management solutions are integral to a long-lasting customer experience. “As legacy technology becomes outdated and less effective, leading vendors will prove that they understand the customer experience impact of billing technology. How? These solutions will improve business agility for their buyers to react to changing market conditions; automate consequences to customer life-cycle changes; and provide actionable, recurring customer- and revenue-focused insights,” writes Forrester.
“Ten years ago, we predicted the emergence of the Subscription Economy® where companies large and small would shift their business models from shipping products to delivering subscriber services and would need a new system to support their transformation,” said Zuora Founder and CEO Tien Tzuo. “The market now recognizes Zuora as the leading platform to automate subscription order-to-cash operations for companies in all industries. We will continue to invest and innovate to ensure our customers flourish in the future of the Subscription Economy.”
Zuora’s momentum has continued to accelerate in 2016 and 2017, with the company reaching the following milestones:
- 1,000 customers and 800 employees across 12 cities around the world
- New customers including Ford, Caterpillar and CLEAR referenced in “The Forrester Wave™”
- The acquisition of Leeyo, the leading provider of revenue recognition software RevPro
- The launch of Zuora Central™, the only cloud-based solution that automates all subscription order-to-cash operations in real-time for any business
- The opening of a data center in Germany to support EMEA customers
- Nearly $300 billion in customer revenue running through Zuora systems annually
- 100 product releases since Zuora was first on the market
- 100 applications in the Zuora Connect marketplace
- Two new board members; the CFO of Yahoo Ken Goldman and first investor and board member of Salesforce, founder of Broadway Angels Magdalena Yesil
- Inclusion in the first-ever Forecast Report on Subscription Economy which estimates a $102 billion total addressable market from 2016 to 2020, with 20 percent of Fortune 1000 companies adopting cloud-based enterprise solutions during that time
Download “The Forrester Wave™: Recurring Customer and Billing Management, Q3 2017” report, here.
Customer and Partner Quotes
- HPE Vice President and SW Transformation Leader Lalit Singh: “HPE software is undertaking one of the largest, most complicated IT transformations in history. We made a strategic decision to only go with the best SaaS leaders in each of their respective fields and that's why we chose Zuora. We are delighted that Forrester Research has confirmed our decision. Congratulations to the Zuora team on being named a leader."
- Symantec CIO Sheila Jordan: “Symantec is the world’s leading cyber security company. With two transformational acquisitions of Blue Coat and LifeLock, we have strengthened our position as the largest cyber security provider with our Integrated Cyber Defense Platform for the enterprise and a comprehensive Digital Safety Platform for consumers. To enable our businesses, we have designed a subscription management platform using Zuora’s technology to help us streamline our order-to-cash processes and deliver a frictionless experience for customers and partners. Congratulations to the Zuora team on being named a leader in Forrester’s Wave on Recurring Customer and Billing Management Q3 2017.”
- CLEAR Co-Founder & President, Ken Cornick: “At CLEAR we are obsessed with the customer experience at every touchpoint and the on-boarding and renewal elements of our customers' journey, which are powered by Zuora, are crucial. The Zuora platform capabilities and support have helped take our billing and subscription management to the next level, setting us up for success as we go through significant growth ourselves."
- Avalara Global Chief Evangelist Patrick Falle: "We are proud to work with Zuora, both as a partner and customer in our joint vision to help companies around the world transform to subscription businesses.”
“The Subscription Economy: A Business Transformation” by Tien Tzuo, CEO of Zuora
SlideShare: “Drivers of Success in the Subscription Economy”
MGI Research Forecast on Agile Monetization Platforms 2016-2020
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About Zuora, Inc.
Zuora is a SaaS company and the world’s foremost evangelist of the Subscription Economy. Zuora’s leading enterprise platform is the only solution that automates all subscription order-to-cash operations in real-time for any business. Companies in any industry can launch new businesses, shift products to subscription, implement new pay-as-you-go pricing and packaging models, gain new insights into subscriber behavior, and disrupt market segments to gain competitive advantage. Zuora serves more than 1,000 companies around the world in every industry, including Box, Komatsu, Rogers, Schneider Electric, Toshiba, Xplornet and Zendesk. The Subscription Economy Index (SEI) demonstrates that SEI companies are growing revenues approximately nine times faster than the S&P 500. Headquartered in Silicon Valley, Zuora also operates offices in Atlanta, Boston, Denver, San Francisco, London, Paris, Beijing, Sydney, Chennai and Tokyo.
© 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.
CONTACT: Media Contact: Jayne Scuncio [email protected] 408-348-1087