On January 9th, the Zuora Community was joined by the Revenue Product Management team as they shared the latest features from the 37.016.00 release which included enhancements to the consumption report, schedule job parameter, and reporting.
⇒If you missed the session or wish to rewatch it, review the presentation slides here and the full session video below.
Consumption Report Enhancements
Learn More: Video
Consumption events report now provides insight into revenue segment, transaction date, sub product charge number, and type.
Use Case
Learn More: Video
The seller offers Multi-Product Package under consumption based model and the Office of CFO would like granular details related to usage vs revenue recognized.
For example, the seller and the buyer enters into a contract. For $250K USD, the buyer has the right to consume against 4 services provided by the seller.
The seller’s accounting team would like to understand how much revenue is related to each of the 4 services consumed by the buyer.
In the month of January, the buyer has consumed the following:
The Revenue Accounting team will be able to leverage the Consumption Events Report to generate the following example information to provide further insight into the related accounting.
Consumption Events Report
Consumption Usage Waterfall Report
Setting Up Consumption Events Report in Zuora Revenue
Learn More: Video
Steps:
- Go to Consumption Events Report
- Select a Layout
- Edit Layout
New Available Fields:
- Revenue Segment = GL Code
- Transaction Date = Usage Transaction Date
- Sub Product Charge Number* = ZB Sub Product Charge Number
- Type* = ZB Usage Type
* applicable for customers who are using Advanced Consumption Billing + Consumption Revenue
Setting Up Consumption Usage Waterfall Report
Learn More: Video
Steps:
- Go to Consumption Usage Waterfall Report
- Select a Layout
- Edit Layout
New Available Fields:
- Revenue Segment = GL Code
- Sub Product Charge Number* = ZB Sub Product Charge Number
- Type* = ZB Usage Type
* applicable for customers who are using Advanced Consumption Billing + Consumption Revenue
Consumption Reports Enhancements - FAQ
Learn More: Video
- What are the prerequisites for this feature?
Consumption Revenue must be enabled. This is currently an “Add On” SKU under Zuora Revenue.
- Are the additional Fields a part of a standard layout for Consumption Events Report and Consumption Usage Waterfall Report?
No, these are fields that are available to be included as part of layouts. This means the fields can be configured into any existing layouts under each of the reports.
- What do each of the fields map to?
Fields only applicable to Zuora Billing (Advanced Consumption) and Zuora Revenue (Consumption Revenue) joint customers:
-
- Type (This represents which type of usage dictated by origin of Zuora Billing usage rating mechanism)
- Sub Product Charge ID (This represents the Sub Product Charge ID related to the Usage.)
Fields applicable to both Zuora Billing and Zuora Revenue Joint Customers and Standalone Zuora Revenue Customers:
-
- Transaction Date (This represents the usage transaction indicated by the usage uploaded to Zuora)
- Revenue Segment (This represents the associated GL Segment Code related to the Product/Service SKU)
Schedule Job Parameter Enhancements
Learn More: Video
Before:
Users were required to manually key-in the program parameter values that were of type free-text.
Now:
Parameter values can now be selected from the dropdown/checkbox/toggle.
Reporting Enhancements
Learn More: Video
PERIOD OPEN PROCESS ENHANCEMENTS
While in the Current Period
- Perform reporting summarization for the next unopened period
New Period Open
- Mandatory to run ‘Period Open Summarization’ process
- Runs for remaining RCs that have not been summarized earlier (Incremental RCs)
REPORT EXECUTION
- Row counts are displayed as part of the Report Footer for all Reports
- Performance improvements for RC Rollforward & Waterfall Reports
Reporting - Performance Improvement
Learn more: Video
- Optimization - RC Roll Forward & Waterfall Report
- Row counts are displayed at the Footer for all Reports
- Performance improvement in report run time by 30-50%
Reporting - Next Period Summarization
Learn more: Video
- In the current open period of P1, perform reporting summarization for next unopened period (P2)
- Control the number of RCs per run using profile - NEXT_PERIOD_SUMM_RC_LIMIT (Default - 10K)
- Performance improvement in period open process by 80-90 %
Reporting Enhancements - FAQ
Learn more: Video
- What is the impact on the current period summarization executed through a job or by Real-time mode?
The next period summarization does not impact the reporting summarization for the current period.
- Is this job incompatible with all other jobs during execution?
While the Next Period Summarization job is in progress, all other newly submitted jobs will remain pending. The other jobs will be executed after the Next Period Summarization job is completed. Hence, we recommend running this job during non-business hours
- Can I run this job on a daily or weekly basis?
Zuora recommends running this job on a weekly basis during non-business hours. However, you can decide to run more frequently based on your business needs.
- What if an RC gets updated after being processed by Next Period Summarization?
All RCs that were updated after the last run of the Next Period Summarization job will be reprocessed either during the following Next Period Summarization job or through the Period Open Summarization job.
- Should I still run the Period Open Summarization process?
You must run the Period Open Summarization job after opening a new period.
- Will there be an impact on the period close & open process?
There will be no change to your procedures as part of the period close & open process. You will continue to run the Period open Summarization job after opening a new period. If you are closing your books using CPD, it is automatically triggered by CPD.
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