Zuora, Inc., a provider of subscription commerce, billing and finance solutions, has been 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 “As legacy technology becomes outdated and less effective, leading vendors will prove that they understand the customer experience impact of billing technology.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