Finance teams are under immense pressure to support the growth of their businesses. The Deloitte 2018 Q1 North American CFO Signals report found that CFOs indicate a strong bias toward revenue growth over cost reduction (64% vs. 18%). Yet 41% of CFOs said staying current with changing technology is the greatest pressure facing their accounting and finance teams according to the Robert Half Management Resources survey.
The Zuora Spring ‘18 release empowers the office of the CFO to be a critical driver of growth with the first and only complete subscription order-to-revenue solution on the market. Zuora has built new capabilities for the finance and operations team of the future – including Billing, Collections, Revenue Accounting, Deal Desk, Orders, and CXOs.
“This is our biggest product announcement ever,” said Zuora SVP of Product Tom Krackeler.
Tom added, “The Zuora Spring ‘18 release includes a number of new features and product upgrades to arm finance teams with the technology required to address their most pressing subscription order-to-revenue needs.”
Subscription Order Management Designed for Customer Expansion
For a typical subscription business, around seventy percent of revenue comes from the existing customer base through renewals, upsells, and cross-sells. This Zuora Central Platform upgrade allows finance and operation teams to more easily process and capture these subscription change orders.
Capture Expansion Upfront: Rapidly growing sales teams can book multi-year expansion contracts upfront
Increase Subscription Orders Flexibility: Capture complex changes for existing subscriptions, including multi-subscription and multi-site scenarios
One Place for Order Metrics: Out-of-the-box change order metrics like Monthly Recurring Revenue, Churn Rate, Net Retention visualized on a configurable dashboard
Automate Order-to-Revenue: Comprehensive change order data is captured to recognize revenue under ASC 606 compliance
New Workflow Builder Brings Greater Platform Automation
A new Workflow service in the Central platform gives teams greater efficiency and flexibility for account management, provisioning, invoice management, and other business processes.