Zuora Launches Zuora Revenue: The only automated revenue recognition solution for subscription businesses
We are launching Zuora Revenue, the latest release of RevPro, which will be generally available for all our existing and new Zuora Billing customers on April 15th. Zuora Revenue is the only automated revenue recognition application built for subscription businesses and their ASC 606 and IFRS 15 needs. Fully integrated with the entire Zuora order-to-revenue (OTR) suite of applications, new Zuora Revenue features enable companies to achieve a faster quarter close, minimize compliance risk, and more precisely forecast the revenue impact of business decisions.
Successful subscription businesses are finding that the key to growth is giving their subscribers freedom -- allowing them to make changes anytime to their subscription amendments, quotes, orders, and contracts. This is especially true today, as companies are seeking strategies to retain their customers amidst economic uncertainty.
However, enabling subscriber freedom disrupts traditional approaches to revenue recognition. Dealing with the volume and complexity of subscriber changes is overwhelming to accounting teams.
That’s why we built Zuora Revenue. It enables continuous accounting for subscriptions from order through revenue recognition. We re-architected the traditional linear model of order-to-cash and expanded it to order-to-revenue to recognize revenue throughout the process. Zuora Revenue understands the full range of subscription transactions, automates and processes all 5-steps of revenue recognition and is built to handle the new standards and compliance regulations.
For our existing Zuora Billing customers, integrating Zuora Revenue is a huge value add because new capabilities include:
- Continuous subscription revenue recognition to enable subscription businesses to achieve a faster quarter close. By uniting billing and revenue processes, businesses can easily manage the transactional complexity resulting from customers making ongoing changes to their subscriptions and revenue recognition can be automated along every step of the subscription OTR process.
- Regulatory process automation to recognize revenue while minimizing compliance risk. Automating the process for regulations such as ASC 606, IFRS 15, Standalone Selling Price (SSP), and performance obligations under GAAP, enables companies to accurately manage revenue recognition under new standards to significantly reduce accounting staff workloads, reduce the risk of accounting and billing errors and shorten the close process.
- Real-time subscription data collection to precisely forecast the revenue impact of business decisions. Enable business growth and collaborate more efficiently using daily data from revenue waterfalls to advise on better upstream processes such as pricing and packaging strategies.
Want to dive deeper into Revenue Automation? This 25-minute Master Class by our partner PwC specifically focuses on what solutions you should consider, so you can avoid putting your business at risk as we move to a virtual and connected world.
Ready for a demo? Go here to give Zuora Revenue a Test Drive.
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